Sep 17, 2012 - Star Navigation Announces Completion of Private Placement
Star Navigation Systems Group Ltd. (TSX VENTURE:SNA) ("Star" or the "Company") is pleased to announce that, subject to TSX-Venture Exchange ("TSX-V") acceptance, Star has completed a non-brokered private placement of 26,100,000 units (the "Units") of the Company at an issue price of $0.08 per Unit for gross proceeds totaling $2,088,000. The price was reserved with the TSX-V.
Each Unit consists of one common share and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one common share of the Company (a "Warrant Share") at a price of $0.20 per Warrant Share for a term of 60 months from the closing date. Finder's fees in the amount of $189,850 will be paid in Units in connection with this private placement.
All securities issued in the Offering and any shares issued upon exercise of Warrants are subject to a four month statutory hold period from the date of issuance. The net proceeds of the placement will be used for research and development, marketing and general working capital purposes.
Aug 28, 2012 - Star Extends Term of Warrants
Star Navigation Systems Group Ltd. (TSX VENTURE:SNA) ("Star" or the "Company") is pleased to announce that the TSX Venture Exchange (the "Exchange") has consented to the extension of the term of 10,875,000 common share purchase warrants issued pursuant to a private placement accepted for filing by the TSX Venture Exchange September 20, 2010 (the "Warrants"). The Warrants, set to expire on September 16, 2012, will now expire on September 15, 2015. Each Warrant will continue to entitle the holder thereof to purchase one common share of Star at an exercise price of $0.20.
Jul 19, 2012 - Star Navigation Announces Final Software Approval
Star Navigation Systems Group Ltd. (TSX VENTURE:SNA) ("Star" or the "Company"). Star Navigation Systems Group Ltd. is pleased to announce that it has received a Statement of Compliance for the STAR-ISMS® software from a Design Approval Representative of Transport Canada. The Statement of Compliance certifies that the STAR-ISMS® software complies with Airworthiness Manual Chapter 511 (AWM Chapter 511) issued by Transport Canada and Level E guidelines of the DO-178B standard issued by RTCA, Inc.
This approval is the final step in the software development process and approves the latest version of STAR-ISMS® software (2.0). Installation will be subject to the normal Supplementary Type Certificate process.
Jul 10, 2012 - Star Navigation Announces Initial Pilot Project for Airborne Data Service
Star Navigation Systems Group Ltd. (TSX VENTURE:SNA) ("Star" or the "Company"), announces that Air North, Yukon's Airline ("Air North") will use the ADS for a 3 month period (the "Service Period") on a trial basis. The system is scheduled to be installed on an Air North Boeing 737-500 aircraft late-July, and is expected to be operational by early August, 2012. A Pilot Project such as this one is provided for in the agreement between Star and Paradigm Services Ltd. establishing the ADS.
Entering its 36th year of operation, Air North, Yukon's Airline, is headquartered in Whitehorse. The largest airline in the Yukon, it utilizes a fleet of 5 Boeing 737 and 4 Hawker Siddeley 748 aircraft. Air North provides scheduled service connecting the Yukon with British Columbia, Alberta, the Northwest Territories and Alaska. It also provides charter services throughout Canada and the USA, as well as cargo and ground handling services.
The ADS enables the real-time transmission of flight data to aircraft operators by utilizing on-board processors capable of analyzing actual flight performance against expected parameters, while the aircraft is in flight, using satellite networks. The service uses the STAR-ISMS® system in-flight equipment, which also compresses, encrypts and then securely transmits the data via satellite to a Data Management Centre ("DMC"). The DMC then relays this information to airline operators, enabling in-flight visibility of performance from ground-based facilities as well as offering enhanced safety and security features. The ADS also offers enhanced aircraft tracking, even in remote or trans-oceanic situations, as well as a feature which triggers automatic data transmission in the event of a major event.
The ADS addresses the following other concerns common to all airlines:
the need for accurate fuel monitoring and information to reduce fuel costs
the need to reduce maintenance response times without sacrificing safety
the need for an information system that is easy to use and that does not place an additional burden on staff while receiving data specific to the airline's needs
the need for global coverage
the need for an automated, accurate system which provides readily usable information to reduce data analysis man-hours
the need for engine control and monitoring data
Jun 8, 2012 - Star Navigation Provides Corporate Update
Star Navigation Systems Group Ltd. (TSX VENTURE:SNA) ("Star" or the "Company"), is pleased to provide an update on various corporate initiatives.
The Company's next generation G2 Star Server Unit is complete. The new unit is the heart of the STAR-ISMS® system and the G2 version combines smaller size, less weight, increased operational efficiency, high speed and a more favourable price point. The STAR-ISMS® equipment will provide on-board data analysis allowing transmission of critical real-time data to Paradigm's Data Management Center, providing a host of valuable options to the customer and the industry.
As noted in Star's press release dated June 22, 2011, the Company entered into a formal agreement with Paradigm Services Limited, an affiliated company of Astrium Services, to provide a one-stop shop to market and sell a satellite communications service to aviation companies.
Astrium, a unit of the European Aeronautic Defense and Space Company (EADS), and Star have utilized the period subsequent to execution of the agreement for the purpose of integrating their respective roles and expertise and designing operational interfaces. The agreement contemplates a number of pilot projects demonstrating the new ADS and these are expected to be announced in the near future. The pilot projects are intended to demonstrate the ability of the system to enhance safety, help reduce fuel and maintenance costs, and provide quick, comprehensive reporting to management on multiple aspects of flight operations.
A state of the art ground station is nearly complete. In our opinion, this ground station provides a level of information unsurpassed in the industry. Currently both Star and Paradigm personnel are completing V,V &T (Verification Validation and Testing) of the ADS to verify the analyzing, sending and receiving of high speed essential information and reporting that will provide major airlines both reliability and safety enhancements.
Midwest Airlines (Egypt)
In April 2012, Star received the Transport Canada approved STC for the installation of the STAR-ISMS® on one 737-800 aircraft operated by Midwest Airlines in Egypt. The Company is now awaiting the availability of the designated aircraft so that installation of the STAR-ISMS® System can commence. Star and MidWest are also awaiting an ECO (Engineering Change Order) from the Egyptian Civil Aviation Authority.
Star continues its efforts in India to secure the necessary Aeromobile License, required to operate Star's STAR-ISMS® System in Indian airspace.
Pakistan International Airlines ("PIA")
Star and PIA have been in detailed discussions to provide a cost effective solution to enhance operational efficiencies and safety at PIA. PIAhas recently had major changes in top management and Star is awaiting the next step in negotiations.
Shaheen Air International
In mid-September 2010, the Company entered into an agreement with Shaheen Air International of Pakistan to install the STAR-ISMS® System on one of the airline's Boeing 737-200/300 aircraft. Due to scheduling issues resulting from significantly greater than normal operational demands on Shaheen's fleet, work on obtaining the required Supplemental Type Certificate approval was intermittent. Shaheen Air has nowdecided to upgrade its fleet and has sold its 737-200/300 aircraft. As a result, discussions are underway with respect to installation on its new aircraft.
Scheduling extensions continue with respect to the C919, China's first indigenously-manufactured large passenger aircraft. Star is advised that no decisions have been made with respect to the inclusion of the STAR-ISMS® System in the C919. Star is in regular contact with the Commercial Aircraft Corporation of China, Ltd. ("COMAC") and continues to monitor the situation.
As announced on May 18, 2012, the litigation between Star Navigation Systems Group Ltd. and FLYHT Aerospace Solutions Ltd. (formerly Aeromechanical Services Ltd.) has been settled.The litigation was originally commenced in 2007 as a result of a lawsuit launched by Star's former President and Chief Technology Officer, Hilary Vieira ("Vieira"). Star counterclaimed against Vieira, AMS and others for unspecified damages and sought a permanent injunction against AMS with respect to claims of inducing breach of contract and interference with economic relationships resulting from AMS's alleged dealings with Vieira. AMS, in turn, counterclaimed against Star in the amount of $20,000,000 for interference in contractual relationships, lost revenue, loss of reputation and loss of goodwill.
Under the Settlement, each party released the other of any and all claims either might have against the other existing up to the date of the execution of the Release. The Settlement has no provision for any payment to be made by either party.Management and the board of Star felt that it had a strong litigation position, but decided to settle as it was felt that the value of any monetary award received would not warrant committing additional resources to this matter. The Company felt that it had achieved its main goals in the litigation and that its resources were best focused on continuing to monetize Star's technology and know-how.The Company will continue to strongly defend its Intellectual Property against any infringement.
The Company continues discussions with CMC Electronics Inc. (see release January 26, 2011). Star personnel have visited CMC in Montreal twice recently to work towards meaningful deliverables to provide CMC customers with value added benefits for enhanced safety and operational efficiencies.
CAR 561 Update
A Transport Canada Program Validation Inspection of Star Navigation was carried out in August 2011. The purpose of the Program Validation Inspection ("PVI") was to verify that Star has effectively implemented a Quality Assurance Program by examining selected functional area systems, procedures, and the approved company manual. After review by Transport Canada, the PVI was successfully closed.
Star is an approved manufacturer of the STAR- ISMS® in accordance with Canadian Aviation Regulations ("CAR's") 561. The CAR 561 certificate allows Star to declare the airworthiness for newly manufactured ISMS product.AS9100 Rev. C Update
Star successfully achieved AS9100 Rev. "C" in 2011. AS9100 Rev. "C" is the international quality management system standard for the aerospace industry. The standard provides manufacturers and suppliers with a comprehensive internationally recognized quality system for providing safe and reliable products to the aerospace (civil, military) industry.
Following the annual audit in January 2012, BSI (the certifying organization) recommended Star for continued certification. Star continues to build and improve upon the quality processes, infrastructure, planning strategies and risk management involved in the design and manufacture of our products along the entire supply chain to achieve a high level of customer satisfaction and increased market penetration.
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