What I find quite ludicrous is that some holders of the stock are actually making excuses for the company. So much so that it seems people fail to remember what is actually happening and has happened.
What happened to claimed numbers around sat space africa and beeptool? As far as I remember it both are meant to be customers for the 3Ds. So that was BS.
What about the testing of POS devices with paratus? That dissapeared. Global sat? Also dissapeared.
On the last CR of 15 million dollars, within the announcement it says that:
"Use of Funds
Proceeds from this capital raising will be used primarily for the completion of design, construction and
launch costs of the first batch of approximately 20 Pearl nano-satellites as part of Sky and Space
Global’s Equatorial Constellation, which is scheduled for Q1 2019, and to provide working capital to the Company."
So that was obviously BS because not one pearl has been built let alone launched. Yet the 15 million dollar was meant for the design, built and launch. Now all 15 million is gone or almost gone for what end? Horrific squandering of capital no matter how you spin it.
Then we have announcement saying that 3Ds generated revenue. To directly quote:
"The ‘3 Diamonds’ nano-satellites have commenced generating first revenues from existing
customers, a major commercial milestone for the Company.
• First revenues follow months of successful performance optimisation and recent designation of
the 3 Diamonds as “fully operational”.
• Approximately A$1million of annualised revenue is expected to be generated from only
current contracted customers to use bandwidth generated by the 3 Diamonds.
• Binding contracts with customers to utilise the 3 Diamonds narrowband communication data
capacity for internet of things (IOT), machine to machine (MTM) and asset tracking services, is
expected to ramp up during H2 2018."
Again, we all know that is also BS...no revenue no nothing. Meir even give a smiley emoticon response to Hunterr...
Then we have Brett Mitchell fiasco and to remind people as to what his position was, to quote from SAS announcement:
"Brett Mitchell will step down as an Executive Director effective 1 October 2018 and will remain as a Non-Executive Director until the two new directors are appointed."
So he was in fact an executive director until the 1st of October 2018 when he became non executive until finally out when MM came in. So if the fiasco with Ross Smith is accurate then his impact should have been massive because Brett Mitchell used to be, afterall, an executive director of SAS!! He would have been making all kinds of impact! Also while he was an executive director of SAS, he was also co founder and executive chairman of MGC, and co founder and director of Chieftain...the same chieftain that did the last CR and SAS paid fees to...MXC...well kind of imploded..
So despite all of that BS what does SAS have? Overpaid Israeli executives, 3Ds viability of which could only be assumed, bunch of MoU with almost entirely random spec stocks such as beeptool, unibersal cyberlinks, IATAS Israel, random chinese company in the mix, random cendrawasih company with no digital footprint whatsoever, etc all of which have snowball in hell chance of being realized..that is it.
So all of your hope now rests on MM somehow being able to secure 50 million without issuing new shares....only god knows how...probably even god wouldn't know how...
What SH need is not MM but divine providence because no one even knows if management is actually serious about completing what they said they are going to do.
Expand
