I think it is safe to say that any potential agreements and the legitimacy of existing ones are nothing more than speculation at this point. So it is pointless to discuss that let alone revenue. So the more important thing to discuss would be something more concrete and fundamental.
I think it is safe to say that the CR was not well accepted by shareholders as indicated by the undersubscription. As a result they have only managed to raise 15mill. Now each satellite costs 750k each as verified by meir himself I believe. So the 15 million would only just barely cover the 20 pearls when operating costs are excluded. If we include operating costs then the shortfall is around 8mill based on their increasing rate of cash burn.
If SAS wants to get the 20 pearls up and running then it is only logical that they would need to do more CR relatively soon. The problem is that I think it would be extremely difficult if not impossible for the company to do more CR based on how relatively not well received the last CR was.
So I think SAS is in between a rock and a hard place. Chances are they do not have enough funds to launch the whole 20 pearls and operate them and yet it would unpalatable to do a CR within a time period too close with the last one. When the fundamental is such then any investor would only be able to rely on faith alone.
