What i am saying is, the scenario you are proposing , which is...

What i am saying is, the scenario you are proposing , which is the the directors selling their shares to investors and lending the proceeds to the company as a loan is less likely to happen compared to finding an investors to invest in the company and issuing them new shares. 

What I am contesting to start with is the statement that NO CR is needed. Anyone who believes this idea need to check the Company cash flow and cost of launching and running the satellites. 

Of course you would prefer the scenario you are proposing but that doesn't mean every party would agree with you. If I am the director, I would prefer the other option as it would mean less dilution to my equity interest.