The way I read these announcements (how's the release time...on...

The way I read these announcements (how's the release time...on a Friday arvo?) is as follows and my views are simplistic, because I'll admit, I'm a simpleton.

SOL bail out EOS by paying out their finance loan. SOL, who are already a major stakeholder, are basically propping up EOS. They've already been hammered by committing millions of dollars at $1.20 during the DESTRUCTIVE SPP. Not to mention their initial investment as a substantial holder. Therefore, SOL keep the wheels greased and why not? After all...the Market cap of the Millner family alone is probably worth more than 10 times (as a guestimate) to that of the market cap of EOS. (Tangling with billionaire Rob Millner at Soul Patts AGM, Westpac & more - Eureka Report). No Millner wants to be the one "who blows the place up" Rob Millner's simple rule for investing success - Matthew Kidman | Livewire (livewiremarkets.com)

This announcement demonstrates that the status quo remains with EOS and that is - no contracts, no cash flow. Therefore, unable to pay the bills. It's kind of like a mum & dad situation whereby SOL want EOS to leave home and learn to stand on their own two feet. But EOS won't leave because they're broke due to the fact that one of the children, racked up too much debt on their credit card from his gaming addiction after gambling on a big win that was sure to be in the pipeline - which never eventuated. That same child blamed the flu for all of his problems...but now his estranged friends are like saying "dude...you've had the flu for like..30 months...Everyone else seems to have recovered and left home, except for you. What gives?"

And so, the story line continues.

But EOS obviously have a strong ally in SOL and I am of the belief that they (SOL) have a strong interest in Spacelink. That comment is purely speculative with no basis on factual grounds what-so-ever. But from my perspective, SOL love a good techie play. I don't honestly believe that they're interested in the weaponry side of EOS. They've had a (relatively) short history in investing in Telecommunications and NBN. They're currently riding the highs of crazy cash flows from coal as they look to diversify.

With SOL being as cashed up as they are and unfortunately - EOS remaining totally pathetic as they are, but with the 'long term' backing of SOL (ie: mum & dad), EOS could be worth a flutter. Or it could be a total whitewash. But here's a sobering thought. Had you invested your hard earned into Northrop Grumman, your capital would be up by 25% YTD (not inclusive of Dividends paid). That's a pretty good return considering that the S&P 500 Index is down -23% so far this year. The sad tale of the tape is that EOS is down -78% just this year alone and down -95% since February 2020. Staggering!

SOL don't always get it right and in the same vein that I make a remark about SOL keeping the wheels greased, I also take into account that they have been around for generations and that they are shrewd in their business dealings. It seems as though the Only lifeline has is SOL (what's happened to the EFA funding? Has the "Letter of Support" translated into actual funding? EFA issues USD$80 million letter of support for SpaceLink - Electro Optic Systems Holdings Limited (ASX:EOS) - Listcorp.). Even if an IFV contract (a delayed and reduced one at that) came to fruition, it may be too little, too late. I think Dr. Andreas Schwer might be hedging some bets on the U.A.E.

EOS spun out from the Australian Government thanks to a back-door listing in October 2000 (Short sellers bring space defence company back to earth (copyright link)). Their performance since then paints a sorry picture. In 22 years, the share price has appreciated by..well, bugger all really. Fair to say that EOS has been a dreadful long term investment. So these announcements related to a further extension will continue and ultimately, they're pointless. With SOL holding the cards, I think that EOS will live to fight another day.