In Peter King's defence I remember his criticisms of SAS long...

In Peter King's defence I remember his criticisms of SAS long ago when the share price was a long way north from where it stands now. He shared his concerns about the nature of management and their methods of running the company. He made his position known and has been transparent about it.

Yes, while he promoted potential scenarios of SAS's success - at the time those scenarios were all plausible before Meir started running the company to the ground. Most of the research Peter King posted backed the nature of the small sat industry which still remains true. The market is still there. It's just that SAS seems unlikely to get a piece of that pie from where it stands now.

At least 3 million is required just for keeping the lights on until launch. Those are some expensive lights. Add another 2mil for running costs until the satellites are tested and potentially begin generating revenue. Assume those funds come from a cash raise its important to keep in mind how badly share holders were burnt in the last two. It's not looking pretty.

The plan to initially launch around the equatorial region was sold as a viable option. Is that still the case? The notion that SAS is in negotiations with banks is laughable. Banks do not 'negotiate' with high risk projects. They always win. Income protection will most likely be needed which will come at a high cost to SAS. Interest on their loan will come at a high cost.

When a company is failing to pay their debts on time, changing goal posts and experiencing multipal delays while claiming 'everything is on track' then one must really question their credibility. There's no reassurance either from the three expensive shoe boxes in space that had been claimed to have been generating revenue. Parting is such sweet sorrow - more so when money is involved. I for one am hoping this suspension in trading stays on for months to come and in that time SAS releases solid news. That means funding, build and a launch date booked. If not I can assure everyone it will be a bloodbath.