12 mill to be raised by the company and its sophisticated...

12 mill to be raised by the company and its sophisticated investors to progress the project to final investment decision. Thought the announcement would be close to the hundred million dollar mark, sorry i must've been way out of my depth. Only problem is that it does cost in excess of 100million dollars to build and launch a satellite i believe? Please correct me if i'm wrong but from this announcement all i see is a hell of alot of dilution.

"launching a satellite is a large project that typically takes several years of planning. Newsat is in the final stages of securing the necessary financing to build the satellite."

According to figures the average the average satellite price over the next decade will be $99 million, compared to $97 million in the past 10 years. The per-satellite launch price is predicted to remain flat, at $51 million, according to Euroconsult.

Source: http://www.space.com/6839-space-forecast-predicts-satellite-production-boom.html

It is clear that launching a satellite is not cheap, the launch alone is at an average of $51milion dollars we have only raised $12million and at the cost of shareholders portfolios being diluted. I would be extremely wary of management. This is going to be long and expensive process, anyone who doubts this is putting their hard earned cash at risk. I expected much more from this financing agreement and will not dare to put a single dollar into Newsat. Don't see this going past 1cent for a very long time on the back of this announcement.