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Hasty78

261 Posts.

49

05/04/19

12:43

Post #: 38012790
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Originally posted by aniesbaswedan: ↑

As far as I am concern, there is a limit to how flexible a company can be when a customer keep being late on their payments. The issue of which is compounded by the uncertainty of the customer's ability to pay at all. SAS was late on payments for both the CDR and batch 1, the size of the order of which is uncertain. If I remember correctly, Gommspace had to take a hit on their balance sheet on top of having to lay off 40 to 50 workers as a result of the late payments and the bleak financial prospect that no doubt became apparent. So if you were gommspace, how flexible would you actually be? Equipped with prior knowledge, would you keep working and expending capital out of your own pocket not knowing that you are ever going to get paid? Risking bankruptcy for a company that may not exist pass 2020? Obviously not, unless SAS is their sole customer, which means that the business was not very good in the first place.

As for key supplier and what that refers to, personally, my guess is that it refers to existing supplier. Maybe it has something to do with D-orbit and possibly late payment arrangement with them? Anyway, if history is anything to go by, from memory, SAS has requested trading halts for silly MoUs before. What I am sure of personally is that it would be nothing to do with bank financings.

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Yawn flogging a dead horse

https://gomspace.com/news/gomspace-comments-on-non-payment-from-our-cus.aspx

We have a constructive dialogue with Sky and Space Global regarding a new payment plan in order for them to be able to solve the situation and make the payment in full. We have already taken their cash flow situation into account and the situation does not have any impact on our long-term ambitions.

Lazy research as usual Gomspace have 23 other customers listed

https://gomspace.com/cases.aspx

"Risking bankruptcy for a company that may not exist pass 2020? Obviously not, unless SAS is their sole customer, which means that the business was not very good in the first place".

SAS Price at posting: 2.8¢ Sentiment: Buy Disclosure: Held
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