Ann: SAS Secures US$1.1 million Convertible Loan, page-79

Noone cares to admit that the 15mil capital raise has failed spectacularly.

$15m proposed CR, only got $9m in the end, at over a 44% discount too..

I love SAS thinking of listing on nasdaq, without even looking at the admission requirements - SAS fails each one spectacularly. Bit of an oversight there, egg on face moment (one of many for SAS).

Next news I'm expecting is directors being announced - this will be make or break time for SAS. If they get duds then the ship will sink for good. Only really high quality and connected directors will be able to rescue SAS now - though that will be a tough task with Meir still as Managing Director - he really needs to relinquish control to more business savvy people.