Nov 25, 2013 - Star Navigation Announces Sale of STAR-A.D.S.(TM) to Almasria Universal Airlines
Star Navigation Systems Group Ltd. (TSX VENTURE:SNA) ("Star" or the "Company"), is very pleased to announce that Almasria Universal Airlines ("Almasria") of Egypt has now placed a firm purchase order with Star for the installation and activation of the STAR-A.D.S.™ system on two (2) of its aircraft, an Airbus A-320 and an Airbus A-321.
The purchase order from Almasria contemplates installation commencing immediately upon receipt by Star of the required Supplementary Type Certificates ("STC's"), expected to take approximately 60 days from receipt of specific aircraft documentation. Star personnel have already been dispatched to Egypt and have commenced work on the STC program.
Almasria has been offered a unique choice of payment options. Within seven months of activation of the system, Almasria must elect to either purchase the two systems outright or, in the alternative, Almasria may elect to make no payment for the hardware components of the system, provided that they share the value of fuel savings realized through the use of the system with Star on a 50-50 basis. (Almasria will pay Iridium charges per flight hour and monthly licensing fees in any event). Should AlMasria feel that the fuel savings exceed their expectations, they can purchase the units outright and discontinue the profit share.
Star feels confident that, properly utilized, the STAR-A.D.S. ™ system can help AlMasria save approximately 3-5% of their fuel budget. Based on each aircraft flying 2500 hours per year, the aircraft would consume approximately $17,000,000 worth of fuel a year. Star's portion of the savings could be between $255,000 and $425,000 per year based on the profit share arrangement. Over the 5 year term of the contract, the compensation could be between $1,275,000 and $2,125,000.
Star feels confident that Almasria will choose to purchase the units. The value of an outright purchase for the 2 aircraft, based on list prices, together with estimated airtime, licensing and "alerts" charges over the 5 year term of the contract is approximately $570,000 USD depending upon usage.
Almasria management said:
"Although the potential fuel savings really got our attention, we also like the ECM, FOQA and MOQA monitoring provided by Star-A.D.S. ™ together with its ease of use."
Viraf Kapadia, Star CEO said:
"This order from Almasria for installation on board the A-320 and A-321's, two of the most popular commercial aircraft, will provide a stable revenue stream and allow us to further showcase our STAR-A.D.S.™ service. It also allows us to participate in the development of Almasria, a young, dynamic airline, located in a key part of the world. Almasria has indicated that it intends to expand its fleet in the near future and Star looks forward to contributing to its success. Together with our other STC's, we now are able to cover nearly 50% of the world commercial fleet of passenger planes. This order positions us strategically and commercially on several fronts". Actual revenue generated by this contract will be included in our regular financial statements in accordance with our stated revenue recognition policies. Estimates of installation times and revenue recognition are correct to the best of our knowledge at this time. However, Star reminds shareholders and the investing public in general that actual results may vary as a result of factors beyond our control.
Oct 24, 2013 - Star Navigation Announces Appointment of FronTier Merchant Capital Group
Star Navigation Systems Group Ltd. (TSX VENTURE:SNA) ("Star" or the "Company"), is pleased to announce that it has engaged FronTier Merchant Capital Group ("FronTier Capital") to provide investor relations consulting and shareholder communications services.
In connection with the engagement, FronTier has been awarded a consulting contract commencing October 3, 2013 at $6000 per month for a term of 12 months. In addition, FronTier has been granted options to purchase 300,000 shares of Star at a price of ten cents ($0.10) per share. The options are granted effective October 21, 2013, will vest over a period of one (1) year, expire October 20, 2016 and will be governed by the provisions of Star's stock option plan.
About FronTier Merchant Capital Group:
FronTier consults with its clients, to determine their most pressing corporate issues and helps them reach their goals using its strong industry contacts and FronTier's unique services. FronTier brings financial institutions quality company information and updates, directly from its clients. This direct information allows their financial market contacts to make more educated investment decisions.
Star Navigation Systems Group Ltd. owns the exclusive worldwide license to its proprietary, patented In-flight Safety Monitoring System, STAR-ISMS®, the first system in the world to feature in-flight data-analysis, monitoring and diagnostics with a real-time connection between aircraft and ground. Its real-time capability of tracking performance-trends and predicting incident-occurrence enhances aviation safety and improves fleet management while reducing costs for the operator. The STAR-A.D.S.™ service, based upon Star's patented STAR-ISMS® technology, offers airline operators unparalleled real time access to specific, targeted, analysed performance data from the aircraft, while in flight. It can detect issues as they happen, allowing flight operations to either schedule appropriate maintenance or to take other more immediate action. Amongst other benefits, it facilitates effective fuel management and simplifies FOQA, MOQA and ECM reporting, as well as OOOI time recording.
Forward Looking Statements:
Certain statements contained in this News Release constitute forward-looking statements. When used in this document, the words "may" "would", "could", "will" and similar expressions, as they relate to Star or its management are intended to identify forward-looking statements. Such statements reflect Star's current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause Star's actual performance or achievements to vary from those described herein. Should one or more of these factors or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the content of this release.
Oct 23, 2013 - Star Navigation Announces Appointment of Petrus Aviation (1979) Ltd.
Star Navigation Systems Group Ltd. (TSX VENTURE:SNA) ("Star" or the "Company"), is pleased to announce the appointment of Petrus Aviation (1979) Ltd. as the Company's exclusive agent for commercial and military sales of the STAR-A.D.S.™ system in Israel. The appointment also includes non-exclusive rights with respect to civilian sales Worldwide, subject to minor exceptions.
Petrus Group began with the establishment of Petrus Aviation in 1979, representing and successfully performing marketing and consultancy activities in the aerospace, defense and industrial fields. Petrus MDS was established in 1995 as an affiliated company to Petrus Aviation. Each company is registered as an authorized broker by the U.S. Government and the Israeli authorities, including the Ministry of Defense.
Petrus Group, as a group of companies, specializes in representing foreign companies in Israel as well as dealing with worldwide marketing, establishing industrial co-operations and consultations for aerospace, hi-tech, security, general industry, communication and electronics industry.
Petrus Group prides itself on its professional, experienced staff and associates that include former IDF (Israel Defense Forces) officers, IAI (Israel Aerospace Industries) CEOs and executives from diverse industries with many accumulated years of hands-on managerial and technical experience, particularly in the following fields:
Aerospace technology, avionic, electronics, and diverse hi-tech disciplines.
Management of organizations, programs and global projects.
Cooperation and technology transfer.
Industrial supply for all technical and hi-tech issues.
Mechanical and electronic components sales. Sales of systems in various fields.
Star's CEO, Viraf S. Kapadia said, "As Star continues to refine its worldwide sales organization, the appointment of Petrus Aviation on an exclusive basis for Israel is evidence of our very high regard for Petrus and its leadership. Israel is an important and demanding market. We feel strongly that Petrus has the required experience, technical expertise and track record needed to make significant sales of both the STAR-A.D.S. ™ system as well as other Star products, such as the military version of the STAR-ISMS®."
Avi Mor, Chairman of Petrus Group said, "I believe that the Star Navigation products can be adapted to many aircraft and it is possible to find cooperation with large integrator, in order to achieve faster distribution of the product. Petrus Aviation (1979) Ltd, is helping in these tasks."
Oct 21, 2013 - Star Navigation Announces Reciprocal Dealer Arrangements
Star Navigation Systems Group Ltd. (TSX VENTURE:SNA) ("Star" or the "Company"), is pleased to announce the signing of reciprocal Dealer agreements with International Communications Group, Inc, ("ICG") (www.icg.aero) of Newport News, Virginia. Under the agreements, each party will be entitled to market and sell the products of the other. ICG products are complimentary to the Star-A.D.S™ system, and include Wifi, E- Router, Aerocom for voice, data and fax communications.
Of particular interest is ICG's CPDLC unit. CPDLC technology (Controller-Pilot Data Link Communication) is essentially the use of text messaging between aircraft and Air Traffic Control, instead of voice communication. It allows easier communication, more explicit feedback than voice, and results in faster clearances and more lenient aircraft separation during flight. It has been mandated by EASA to be implemented by most commercial aircraft in Europe between 2013-2015.
ICG's President, Armin Jabs said, "It only made sense that when we were investigating complimentary services to augment our flight deck communications solutions, that we chose Star Navigation and their STAR-A.D.S.™ system. We were seeing; Health Monitoring, fuel management and real time exceedancy and maintenance reporting as attractive flight management tools of great interest to our customers. The Star Navigation A.D.S. system, coupled with the ICG satellite based flight deck communications systems provides a turn-key and comprehensive solution of great value to any operator. In addition, Star Navigation's philosophy of developing leading edge technologies and solutions, while always placing the customer first, very much mimics the ICG culture. We are enthusiastic about offering our combined solutions to the aviation industry."
Star's President, Viraf S. Kapadia said, "This new relationship with ICG will allow both companies to benefit from the synergy between product lines and provide the oppourtunity for each to expand its ability to offer comprehensive solutions to its clients. We also wish to thank ICG for inviting us to attend its 5th Annual NxtLink Communication Conference in Virginia last week. Our presentation was an excellent venue for us to showcase our STAR-A.D.S.™ to the industry. Attendees included several airlines, as well Bombardier, Embraer, Boeing, Dassault Falcon, Cessna, Honeywell, Arinc, CMC Electronics, FedEx, Iridium, Nav Canada, Eurocontrol, Sita, Rockwell Collins, L3 and Thales."
The STAR-A.D.S.™ service, based upon Star's patented STAR-ISMS® technology, offers airline operators unparalleled real time access to specific, targeted, analyzed performance data from the aircraft, while in flight. It can detect issues as they happen, allowing flight operations to either schedule appropriate maintenance or to take other more immediate action. Amongst other benefits, it facilitates effective fuel management and simplifies FOQA, MOQA and ECM reporting, as well as OOOI time recording.
Oct 18, 2013 - 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 11,250,000 units of the Company at a price per Unit of $0.08 (the "Units"), for gross proceeds totaling $900,000. 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 24 months from the closing date. Finder's fees on portions of the placement in the amount of $90,000 will be paid in Units.
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.
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