Ann: Voluntary Suspension, page-24

Not sure where you are getting your figures from. The Everblu report stated they needed $40m just to get the first 50 off the ground, after which time it is assumed they will be self funding for the balance.

From Everblu Research Report:

Cash PositionOnce SAS has 50 satellites in orbit and generating revenue, SAS isassumed to be self-funding.Assuming SAS wishes to deploy 50 satellites and assuming it costsUS$750k to build, launch and deploy a satellite, then SAS requiresUS$37.5m (A$50m) total capital to be self-funding.Given SAS had A$9m at the end of June 2018 we have assumed SASrequires a A$40m equity raise. SAS Directors have advised us that anyequity raise in Australia would be prohibitive at the current shareprice. Hence SAS is currently pro-actively seeking a strategicinvestor(s) internationally.