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aniesbaswedan

6,681 Posts.

1545

06/04/19

23:23

Post #: 38028289
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Originally posted by Lebba: ↑

Anies - you seem a little misguided here...

You said: "Would 5.4 million be enough to: build the rest of the pearls? Presumably 13 or so? "
Not all of the 5.4M is going to Gomspace. I suspect that 1.9M will go to Gomspace, and that should cover the remaining balance to Gomspace. If you refer to this Link, you will see the following highlighted extract:

Given that above was published a few months ago, we now know that CDR has been fully paid, and that there is an outstanding balance of approx. 1.9M AUD for the 1st batch.
So, basic math:
Total Payments (to date) to Gomspace = USD 8.6 Million ( or AUD 12.7 Million).
Total Cost of CDR (US 1.15 M + US 2.29 M = US 3.44 Million (or AUD 4.84 Million)
Excluding the CDR payments, we have paid AUD 7.86 M so far to the physical building of nanos (possibly including the 3 Diamonds), and still need to pay a further AUD 1.9 M according to Gomspace, which will total AUD 9.76 M
If the 1st batch include 16 Pearls, then AUD 9.76 into 16 = AUD 610K (seemingly more than enough to build a single Pearl).
My conclusion is that if 1.9 M of the 5.4 M (supplier payments) is paid to Gomspace, I think that the build costs of the 1st batch will be covered.

You said: "Pay for groundstations? Pay for launch? Pay terminals? End user devices? Insurance? Setting up deals with carriers? No, no matter how you twist it. SAS knows this, that they are short on the amount that they need to launch the 16 pearls, which is precisely why they mentioned bank loans. Such proposal is, to me, the absolute undeniable proof that SAS does not have enough to pay to launch 16 pearls. So everything hinges on bank loan to launch the 16 pearls. As far as I am concern, no bank loans = CR at 1 cent. "
No ground stations are needed. We will use existing ground stations, without the need to build new ones.
Launch costs was not intended to be covered via the CR, this is via bank debt which is currently being secured.
Pay terminals / End user devices - do we need these for the 1st batch? Probably not, as 1st batch will only provide basic M2M and IOT services.
I don't think you have proven anything.

Expand

Lebba you need to read the prospectus again:

Read through the excerpt that I have provided above to realize that the company itself stated that they need groundstations (currently unknown and will be determined prior to launch) and end user components (also currently unknown). It is clear as day, I don't know why you are still debating this. They even say that, "failure to find such end user component will require development and possible delays and additional fundings". There has not been any announcement by the company that provide any certainty to their progress towards alleviating those issues beyond wishful thinkings and imagination concocted by posters here.

As for the progress of pearl manufacturing, I believe only a couple at best has been made, which is what that 1.9 million is for. Remember that SAS owed gomspace for the CDR only completed in october. So the remaining 3.5 million cash would have to be made sufficient for insurance, launch cost, end user components, ground stations, etc.
Last edited by aniesbaswedan: 06/04/19

SAS Price at posting: 2.8¢ Sentiment: Sell Disclosure: Not Held
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