Ann: Voluntary Suspension Extension, page-141

How many times do I need to explain to you, all of these payments to gomspace so far were for the preliminary design, critical design, other miscellaneous payments to get to the point of CDR (which is yet another milestone payment that they havent evne paid yet). Only after all of this, can they begin constructing the nanosats. 

The only fact here is, how do you construct something before the design has even been completed. The answer is - you can't, and SAS certainly havent. They would only have begun construction only very recently (and per GOmspaces admission, have slowed work down due to the non payments). Therefore there is another approx 750k x 16 to go for the construction costs.