webby, understandably its clear that you are fully pessimistic...

webby,
understandably its clear that you are fully pessimistic here, and that's your choice.
as it stands with whatever current information is available, I am fully optimistic here.

to me, you are viewing this all the wrong way and really need to substitute the current condition of this company as it stands or sits.

IMO this is a reverse takeover and all these things that seems so expensive to you, are yes indeed a fact very expensive but since when has being in space and orbiting the earth Not been expensive?

when it comes to space its always expensive, you dont need me to tell you this.
but if you then compare this to what Nasa or any other contractor (spaceX etc) the costs of what this soon to be company is far less impacted on achieving its goals to enter into this sector or arena.

a couple of points about how readers read the recent Ann.
first, view it as a reverse takeover, this will help you in making sense of the values at play.

100K and 3.6 Billion shares seems alot? not for what they are bringing to the table.
1.5 Billion shares for performance? wow seems a lot now dont it?

IMO, not really or if you choose at what class A, B and C are achieving.
in fact I would be more worried there were no targets and goals set on this making matters drag out potentially forever with one excuse after another if they do not have the experience with this technology being, built, coded and tested to work and function as it should which again also is a hugely expensive task.

so in fact what each 500M issue class is doing is setting a timeline and expected achievements timetable.
(my wording)

class A: 18 months to execute a contract to launch at least 2 satellites, fair enough.

class B: 24 months to actually have the hardware ready, with systems integrated & comms fully ready.
(all validated and tested ready for launch, no glitches, and the hardware phase completed) (LRR)

class C: 30 months to have the software or operating system also integrated to enable full functionality of the hardware with no glitches and ready for testing in space or orbiting the earth. (IOAR)

now such performance shares may seem huge, but the work involved and the tasks at hand are also huge and no simple walk in the park so if, or should these performance shares get issued, it means the boxes are being ticked which means those phases are enabling the company, or new company to de risk to have certainty, and when it comes to Certainty, one must pay a premium for this, and again, as this is Space we are talking about, that is not cheap either.

sure they look like a lot of shares at first, but there will be a consolidation.
and its also not like they are getting them for nothing, and huge effort and focus will be timely which also means that they must be very conscientious in their tasks to achieve this performance.

so do take those points or performance classes above as good things because IMO I would be far more concerned if they weren't so its actually good to have somebody whom is Hungry to get it right and not wrong.

so sure, I am very optimistic

and like many I too look forward to hearing or reading the due diligence type of report along with any other info that aids in assisting this move forward!