If you actually took the time to read the report again then you would realize that SAS has 8.8 million cash left and yet have not had a single pearl built as indicated by the fact that they are still in the testing and design phase as per quote: "The testing and design process of The Pearls is continuing on schedule with GomSpace...". SAS also stated that they estimated the next quarter outflow to be 3.2 million. It is highly unlikely that they would be able to complete the 20 pearls without more funding. It is then all but guaranteed that a CR is imminent for that purpose.
So most people are now underwater including those sophisticated investor and others who participated in the last CR. The last SPP was also heavily UNDERSUBSCRIBED. How likely is it that SAS is going to be able to survive another raise? Not likely.
