Ann: Quarterly Activities and Cashflow Report, page-29

Yes that line was made before the last CR, which kinda points to the fact that we have to factor in multiple CRs even when those one liners are mentioned.

The contrarian evidence is in multiple sources from BUR days. As well as the videos you have mentioned. The default is way of raising the money is via CR. Go re-watch the BBC interview. From the 3.:20 minute mark roughly. It talks about SAS listing on the ASX very early, when in reality most companies in SAS's position would be looking for seed or VC funding. Now just because SAS listed early it does not take away from the fact that they will need to go through multiple funding rounds before it becomes THE business that other companies want to partner with. Its getting there, I have a positive outlook but it will still take a while and a few more funding rounds to get there (CRs).

I cannot and will not factor in lines such as what you have highlighted 'SAS is currently well funded and is currently engaged in discussions with potential strategic investors from the telco and satellite industry'. and "All funding options are on the table" because, as much as it sounds good, it is not a fact, they are just talks and long running as those companies constantly assess SAS.
I cannot base my investment decisions on those words. Don't get me wrong, I will cheer if and when that day happens.

But for now my strategy has to change to exactly what you have suggested. Top up low, trade out before next CR (maybe not all of it in case there are surprises). That is partly why I posted those crude metrics earlier.


In addition in the last shareholder Q&A the word "partnership" was not mentioned......"collaboration" was the next best word mentioned.