Mate, spend $40 and buy the DOCA if you want to know what's happening. There are a few things that must be lined up, it seems, most important being non-VO investors willing to drop the cash to get these sats into space. Sure, they will do a SPP but that will be peanuts. Get the investor(s) lined up and the Virgin will be on board. Then the consolidation can be announced, the financial stability assured to ASX for re-quoting and all can happen. Likely with another GM.
But without all those pieces lined up then the company will just quietly shut shop when the administrator says the conditions of the DOCA could not be met.
The only date I've seen is that the VO purchase and whatever cash they contribute starts on July 1. So we could go months here still until something is announced. I'm not sure where the money is coming from to pay the few Poles and Poms who are still seemingly employed by the company but something is keeping the lights on.
My advice is stop setting dates which you have no idea if they matter or not. There's been only one date as far as I can find and that's when the VO deal starts. Which is still six months away. This December date was pure speculation based on a VO launch test. The VO deal is done and dusted. Nothing further to happen there. The question is whether the new board can find a way to re-capitalise the company so the DOCA executes and VO's agreement commences.
SAS Price at posting:
1.6¢ Sentiment: Hold Disclosure: Held
