TORONTO, Sept. 11, 2017 (GLOBE NEWSWIRE) -- Star Navigation Systems Group Ltd. (CSE:SNA) (CSE:SNA.CN) ("Star" or the "Company"), is pleased to announce that Big Data Avionics Corp (“BDA”) has placed an order for 10 Star-Airborne Data Service (“STAR-A.D.S. ®“) systems. This is the 2nd STAR-A.D.S. ® System order for Star and will be the largest ever so far.
BDA, a Sales Agency of Star, has put down an initial non-refundable deposit of USD $50,000.00 for this order, with the remaining balance due upon delivery of each of the units. Delivery is anticipated in approximately 3 months’ time. The STAR-A.D.S. ® System and associated services will be for the North American market, which was BDA”s immediate target segment. The order, at list price, is valued at USD $600,000, not including annual airtime and services costs.
Star is advised that BDA is currently in discussions with several airlines who are aware of the immediate benefits of the STAR-A.D.S. ® System and who had previously shown interest in the features of this real-time tracking and monitoring system.
Prabhjeet Singh, CEO of BDA said:
"This is simply the start of our sales efforts. We want to accelerate the introduction of this technology globally to all aviation markets. STAR-A.D.S. ® enhances safety and peace of mind for operators, crew and passengers, as well as offering benefits in terms of maintenance and operations for all aircraft, which translates into rapid return on Investment."
Jean Louis Larmor, COO of Star said:
“These are exciting times for Star. We appreciate Big Data Avionics pro-active approach and look forward to further business with them.
We are just starting to field the latest generation of the STAR-A.D.S. ® System, the SSU-G 3, and are benefitting from feedback from our Mid-Eastern VVIP customer. We are glad to see that interest in our solution now accelerating.”
The STAR-A.D.S. ® System is a comprehensive end-to-end real time aircraft monitoring service, which provides aircraft operational performance data with pro-active analysis and diagnostics via a secure web based dashboard. (Read More Here: http://www.star-navigation.com/service/StarADS).
Sep 5, 2017 - Press release sales agency
TORONTO, Aug. 30, 2017 (GLOBE NEWSWIRE) -- Star Navigation Systems Group Ltd. (CSE:SNA) (CSE:SNA.CN) ("Star" or the "Company"), announces that it has entered into a new sales partnership with Big Data Avionics Corp (“BDA”), which will hold "non-exclusive" international sales rights to the sales of Star's STAR-A.D.S.® System. The agreement has an initial term of one year, with two further five year renewals possible if performance benchmarks are attained.
Big Data Avionics Corp is powered by 35 years of seasoned marketing and sales experience in the technology sales field.
Sales access to all of Star’s products (Star-ISMS ®, Star-M.M.I.™, V-trk ™ and MEDEVAC ) will be part of future discussions.
Prabhjeet Singh, CEO of BDA said:
"We are extremely proud that Star Navigation has put their trust upon BDA Corp for the sales of their amazing products. We would like to establish a fruitful relationship with Star and develop an increased trust between buyers and Star's products. We are excited for this endeavour to begin and connect with our contacts in the aviation, and shipping industries while bringing success to BDA as well as Star."
Aug 24, 2017 - OTCQB Application
TORONTO, Aug. 23, 2017 (GLOBE NEWSWIRE) -- Star Navigation Systems Group Ltd. (CSE: SNA) (CSE: SNA.CN) ("Star" or the "Company"), announces that it is applying to OTC Markets Group to trade the Company's common shares on the OTCQB in the U.S. At the same time, the Company is in the process of applying for eligibility for its common shares with The Depository Trust Company (“DTC”). DTC is a subsidiary of the Depository Trust & Clearing Corp. and manages the electronic clearing and settlement of share transactions for publicly-traded companies
. Viraf S. Kapadia, CEO of Star stated: “The listing of our shares on the OTCQB will introduce our Company to a larger market and will provide shareholders with additional liquidity and increased trading capacity. We look forward to advising our shareholders as soon as the application process is complete."
About OTC Markets Group Inc.
OTC Markets Group Inc. operates the OTCQX® Best Market, the OTCQB® Venture Market, and the Pink® Open Market for 10,000 US and global securities. Through OTC Link® ATS, the company connects a diverse network of broker-dealers that provide liquidity and execution services. The company enables investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors. OTC Link ATS is operated by OTC Link LLC, member FINRA/SIPC and SEC regulated ATS.
Aug 18, 2017 - A-310 STC
TORONTO, Aug. 18, 2017 (GLOBE NEWSWIRE) -- Star Navigation Systems Group Ltd. (CSE:SNA) (CSE:SNA.CN) ("Star" or the "Company"), is pleased to confirm it has now obtained the final Supplementary Type Certificate (“STC”) authorization required to operate its recently released STARA.D.S. ® 3rd Generation system on-board an Airbus A310. The granting of the STC by Transport Canada was received after demonstration of key functionalities which include streaming of real-time aircraft data through Iridium SATCOM transmission.
With this final certification, the STAR-A.D.S. ® SSU-G3, having passed aircraft installation and noninterference tests, will soon enter into commercial operation with its first wide-body operator in the Middle-East. (See Press Releases May 3, 2016 and April 19, 2017).
The STAR-A.D.S. ® system incorporates GSM hardware for end of flight data transmission and offers the ability to manually extract aircraft data as well. The system can be remotely accessed via GSM in any parts of the world for any maintenance, upload or download of data as required by the customer. Another component of the system is to offer tracking of the aircraft at customer defined intervals which can be viewed on a secure web-based application. Upon completion of a flight, the system generates end-of-flight reports which is used by the customer to support flight, finance and engineering operations.
Mr. Viraf S. Kapadia, CEO of Star said:
“With this final ‘green light’ we can start operating the SSU-G3 on commercial flights, bringing quick savings to the operators as well as compliance with the newest tracking and positioning recommendations.”
Aug 4, 2017 - Star Navigation Announces Shares for Debt Transaction
TORONTO, Aug. 04, 2017 (GLOBE NEWSWIRE) -- Star Navigation Systems Group Ltd. (CSE:SNA) (CSE:SNA.CN) (OTCBB:SNAVF) ("Star" or the "Company”) announced today that it has agreed to settle outstanding indebtedness of $2,186,689 (the “Debt”) through the issuance of 27,333,615 common shares of the Corporation, at a deemed price of $0.08 per common share (the “Debt Settlement”). The deemed price was protected by a price reservation granted by the Canadian Securities Exchange July 13, 2017.
The common shares issued in connection with the Debt Settlement are subject to a four month hold period from date of issue.
This transaction reduces the Company’s current liabilities and significantly improves its working capital ratio.
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