Meir is currently in Australia. Just had a phone call with him. He was sounding as confident as ever that it will all proceed as planned.
Ignore the ASX website that says the "offer has been withdrawn". It is still proceeding.
Still working on finalising the details, but he is extremely confident that the placement will be completed in full successfully soon.
Can't give an end date as that would provide me with knowledge that other shareholders do not have.
Can't tell me the number of backers behind that placement either.
The agreements with the "channel partners" are fully binding contracts - not LOI's, MOU's or binding MOU's. There is a high level of demand out there for the cost effective, efficient services that SAS will provide. The fact that the partners were willing to enter into binding contracts speaks highly of the services SAS will provide, the sales team that put them in place and the demand out there.
With regard to Telefox and "who are they". No everyone has a website. Telefox is a solid, legitimate organisation based in Israel. Don't have to worry about that.
Once the initial 16 global satellites are up, they could be used for mobile banking services, although the the data will not be real time. This was a specific question that I asked. I was curious if Beeptool could use the initial global constellation for the banking services in Africa. He said this was possible, but I didn't get the impression that this was something they were targeting at this stage. Interestingly, I had to remind him who Beeptool was, as they were going to be a big deal for SAS in the early days. Could have just been that he was having trouble hearing as he was in a noisy location.
Still looking to target the equatorial region with the Pearls. lots of need there.
Broadband was shown on one of the investor presentation slides. I asked if this was something that they planned to work up to. Broadband is not something SAS is looking to provide in the near future. It was on the slide as more of an example as to where the advances in technology could eventually end up in the services that SAS provides.
Stay tuned for the next exciting episode in the SAS soapy...
