Oct 2, 2015 - Star Navigation Provides Status Update on Business Lines
TORONTO, ONTARIO--(Marketwired - Oct. 2, 2015) - Star Navigation Systems Group Ltd. (TSX VENTURE:SNA) (OTCBB:SNAVF) ("Star" or the "Company") is pleased to provide a status update on its two main business lines:
1. Real-Time Tracking, Analysis and Monitoring business.
The total product line-up is now complete. It features:
- The STAR-A.D.S. ™ System for commercial airlines and operators. The System is a real-time, satellite based, on-board flight data monitoring and analysis system, operating with a ground based monitoring and reporting function, which enhances an operators' ability to schedule maintenance, reduce fuel usage and improve overall operating efficiency and safety. The System has entered commercial use with its first business aircraft operator.
- STAR-TTT (Tracking, Text, Talk), a scaled down version of the STAR-A.D.S. ™ System designed for smaller aircraft and for naval applications, is undergoing a parallel certification process in both Canada and in China.
- STAR V-trk, with its very small size, is an ideal entry level location tracker, with additional scalable functionalities.
All of these on-board products utilize a proprietary STAR ground software operator interface ("GUI"), which offers direct tracking, aircraft situational awareness, and added-value services. With this completely automated chain, STAR delivers today what is expected to be recommended by aircraft regulatory authorities such as IATA, the ITU and ICAO for tracking and data transfer in the future.
STAR is currently in negotiations with two commercial airlines for STAR-A.D.S. ™, while STAR-TTT is already being marketed in two countries in Asia. STAR V-trk was recently presented to several potential users in Canada, with a full market entry planned for the beginning of 2016.
2. STAR MMI Division. (Man Machine Interface)
Star's flat panel display business, currently consisting of repairs and overhauls to existing product, has rapidly ramped up, with major US military avionics suppliers utilizing the services of the Division. Sales figures are exceeding projections. Renewed discussions are now underway with a major Asian military and commercial avionics supplier to conclude long term business agreements for new displays.
Star and its research partners continue their work on improving Emergency Medical Services (EMS), starting with Air Ambulance transport, by providing real-time direct transmission to the ground medical dispatch center of patients' vital signs, along with visual assessment and geo -positioning.
STAR has recently restructured its operations, focusing on upgrades to its GUI, finalizing new contracts for both STAR-A.D.S. ™ and STAR MMI Division products and services, while increasing sales efforts on STAR-TTT and STAR V-Trk, to ensure a greater position in the various market segments.
Sep 29, 2015 - Star Applies to Extend Term and Reprice Certain Warrants
TORONTO, ONTARIO--(Marketwired - Sept. 29, 2015) - Star Navigation Systems Group Ltd. (TSX VENTURE:SNA)(OTCBB:SNAVF) ("Star" or the "Company") announces that it has applied to the TSX Venture Exchange (the "Exchange") to extend the term of and reprice 11,250,000 common share purchase warrants (the "Warrants") issued pursuant to a private placement announced October 18, 2013. The Warrants, originally due to expire October 16, 2015 carried an exercise price of $0.20.
Subject to Exchange acceptance, each Warrant will now entitle the holder thereof to purchase one common share of Star at an exercise price of $0.08. The new expiry date of the Warrants will be October 18, 2018.
Sep 4, 2015 - Star Navigation Actively Contributes to ITU Focus Group on Flight Tracking
TORONTO, ONTARIO--(Marketwired - Sept. 4, 2015) - Star Navigation Systems Group Ltd. (TSX VENTURE:SNA)(OTCBB:SNAVF) ("Star" or the "Company") is pleased to report on its latest active contribution to the ITU Focus Group for real-time flight data monitoring and streaming.
Following the loss of Malaysian Airlines MH-370, the International Civil Aviation Organization ("ICAO") and the International Telecommunications Union ("ITU") initiated worldwide working groups tasked with defining real-time flight tracking of aircraft.
Benefiting from its experience and expertise in real-time aircraft data monitoring, analysis and streaming, Star leads groups in defining scenarios for flight data analysis and flight tracking, together with the key IT infrastructure elements such as data security, data encryption, and data privacy.
The ITU plans to present the final report in February, 2016.
The STAR-A.D.S. ™ system, in operation today, already addresses the objectives of the focus groups and provides a cost effective solution to the concerns of the airlines, expressed during the workshops.
STAR-A.D.S. ™ provides:
Real-time location of an aircraft.
Increased safety, as well as efficiency in airline operations.
A comprehensive and immediate view of the status and health of the aircraft.
Decision-making tools for the operators.
A cost-effective mix of communications means.
Flight operations database management and analysis capabilities.
Mr. Amir Bhatti, Senior VP Programs and Implementation at Star Navigation stated,
"Star, along with other industrial and airline members, contributes to the ultimate goal of ICAO and ITU of reliable, practical and cost-effective solutions to the tracking of airline assets, the safety of the operations and of the passengers. The technology is flying today, increasing the safety and efficiency of the airlines, and, meeting or exceeding the expected ITU recommendations."
The Chair of the Focus Group, Norizan Baharin of the Malaysian Communications and Multimedia Commission said,
"This ITU Focus Group's success in bringing together the Information, Communication and Technology, ("ICT") Aviation and Avionics sectors was the key ingredient to our success in identifying where the ICT sector is best-positioned to assist flight data monitoring. I thank Star Navigation and fellow participants in the Focus Group for the outstanding collaboration that has made this group such a valuable platform to exchange views and build new partnerships."
Aug 31, 2015 - Star Navigation Announces Further New MMI Orders
TORONTO, ONTARIO--(Marketwired - Aug. 31, 2015) - Star Navigation Systems Group Ltd. (TSX VENTURE:SNA)(OTCBB:SNAVF) ("Star" or the "Company") is pleased to announce that, further to its June 29, 2015 announcement, its' STAR Man Machine Interface Division ("STAR-MMI") has received additional orders for upgrades of displays from three major Fortune 100 Aerospace Companies.
The value of the new orders received is C$175,000. This brings the total value of orders received by Star in the last 60 days to C$575,000. These orders began shipping in July and will continue to be shipped over the next few months.
These latest orders confirm the value of the MMI Division and its contribution towards achieving consistency in the Company's' revenues and cash flows.
The STAR-MMI Division began operations in April, 2014, and started receiving orders in October, 2014. Since then, the Company has received orders totalling in excess of C$1.375 million. Star's MMI Division designs and manufactures high performance, mission critical, flat panel displays for defence and commercial aviation industries worldwide.
Aug 26, 2015 - Chengdu Spaceon Technology Co. Ltd. of China and Star Navigation Sign Cooperation Agreement
TORONTO, ONTARIO--(Marketwired - Aug. 26, 2015) - Star Navigation Systems Group Ltd. (TSX VENTURE:SNA)(OTCBB:SNAVF) ("Star" or the "Company") and Chengdu Spaceon Technology Co. Ltd. ("Spaceon") are pleased to confirm the execution of a formal Cooperation Agreement ("CA").
In 2014, Star and Spaceon entered into a preliminary framework agreement (see Press Release August 24, 2014) working on a joint tracking product which would leverage their respective expertise, strengths and experience.
The joint product, STAR T.T.T. (Track, Talk, and Text), is designed to offer small airplanes, helicopters, and ground and maritime transport a cost efficient, reliable solution for tracking and communications purposes. It is now in the certification phase.
Star and Spaceon have finalized the Cooperation and marketing Agreement required by the terms of the framework agreement. It includes provisions for the already developed and marketed STAR- A.D.S. ™ System.
Under this CA, Spaceon will manufacture the STAR T.T.T., and market, sell and support both the STAR T.T.T. and the STAR- A.D.S. ™ System in China. Spaceon will implement a Chinese data management center for its activities. STAR will bring the STAR T.T.T. equipment and solution, along the STAR- A.D.S. ™ System, to the rest of the world.
Mr. Viraf S. Kapadia, CEO of Star said:
"Our mutual understanding with Chengdu Spaceon grew up very positively. The full scale Cooperation Agreement was the immediate next strategic step. Both parties to this partnership will offer complete solutions, complying today with the expected recommendations for the future on tracking and on monitoring. The growth path of the equipment includes different communications networks from Iridium to Inmarsat and BeiDou. This agreement is further ensuring the presence of Star in a key developing part of the aerospace world. It completes initiatives we recently completed in Asia."
Mr. Yang Shaoping, General Manager of Spaceon declared:
"Chengdu Spaceon Technology Co, Ltd, is expanding its capabilities and offerings directly to OEMs and Operators in China, but is also able to reach out to other geographical markets, jointly with our partner Star Navigation. We are bringing to the aerospace community solutions for real time tracking and monitoring to increase the safety and to reduce the overall costs of operations, on existing aircraft and helicopters."
Both companies are now concentrating their efforts on the marketing and detailed implementation of the joint solutions.
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