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.
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