Possible rights issue EOS, page-7

Although I was taken in by the previous promise of customers waiting in the wings for spacelink, I believe that previous management was also (rather than them taking shareholders for a ride). Nonetheless, they should have known better (and so should have I, but that is optimism for you).

The new management, however, seem to have a commercially sound and detailed (emphasis on that last part) action plan, where previous managment had hopes and, as you say, 'big talk'. Most notable was the plan to license their tech in the US. I have heard it here before, that EOS was mad to try to become a US prime in there own right, and I think that is true. Given the nationalist nature of defence, better to let and American company sell the EOS tech (as they actually have a hope of winning the contracts) then we can at least collect some of the profit, an amount which will reflect the reduced capital expenditure and risk of not having to build a manufacturing base in the US.