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07/04/19
18:38
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Originally posted by OzJ:
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Yeah, I'm pretty sure that GOM have renegotiated the terms of the agreement to SAS's disadvantage, unfortunately. SAS have been a bad customer, money hard to come by like it has been, so I imagine the previous agreement has been renegotiated. "pending anannouncement in relation to a key supplier agreement" sounds like new T&C's to me. It's the agreement that's being discussed, not the status of production or milestones being reached, etc. I would expect that payment terms have been changed to money up front, or similar. In the GOM financial statements it said that SAS carried no penalty for late payment so at the very least I expect those terms to change. But money up front is my guess. I expect that downside message will be tempered with an upside message of the sat production line starting again. Maybe they will tell us how many are being built. I'm pretty sure we expect 20 for the first launch so if we get numbers on sats then we'll have a pretty good idea of exactly where SAS stands financially in relation to the first launch and how much more money they'll need to find in order to reach that viability point.
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GOMSpace shares went up nearly 10% on Friday after its recent downward trajectory..... Just saying. News will be renegotiated contract with GOMSpace. That's my guess.