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Senseightynine

2,026 Posts.

713

05/08/19

13:03

Post #: 39861862
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Originally posted by OzJ: ↑

I don't think there's a snowball's chance in he77 that they can raise $15m in a market raise, particularly if they are relying on retail investors. They must have had over $30m already invested from every tech spec funder in the country already.

I'm fairly certain if this goes retail then it bombs. If they go without underwriting then it bombs twice over (and I don't see how they will get underwriting after the last CR where the underwriter pulled out. Who would offer that guarantee now?). The only hope this has of raising enough money to make it to revenue is if there's a sugar daddy lined up with the lot. I was expecting a sugar daddy related to the Telefox outfit that gave the loan since I can't see why they would make a loan certain to bomb in Oct unless they had a line of site on how SAS would pay that money back. In fact, I'm pretty certain that the Telefox angle will still end up being the most likely for SAS.

If they do hit the market, then it's for whatever money they can scrape together to keep chasing the big kill, essentially what the CR in March was used for. I expect more layoffs (perhaps that lead to the large staff costs last period) and then bare bones chasing the dollars. It's it's a raise that involves retail investors then I expect no more than $2m, max, will be raised. Enough to last to Christmas, maybe a little longer if they really cut costs.

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my bet is a convertible note with Arena or one of those other loan sharks that have been hitting the asx lately.

expensive

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

0 Great analysis

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Sell out, page-86

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