30 days of cash left. All previous SPAC deals dead.
Last raise was at $1.05 which was a valuation around US$81m. They only raised $100k at this level which triggered the conversion of convertible notes at the same price. True to form screwing the note holders IMO
Now any raise will be a "down round" if they can even get funding, around 50% from last raise price.
They have a LOI with a financier for $15m to $25m which if becomes binding they will get a bridging loan on the back of it. They were optimistic of it becoming binding, I am not so optimistic.
SAS Price at posting:
1.6¢ Sentiment: Hold Disclosure: Held
