Rising costs for US airllines, page-2

See below excerpts from earlier ann's. Seems to me one of the key approvals is from Boeing for the TCS on the APB for the 737-NB, most numerous plane globally. It states the earliest is past and the other timeline is this CYQ.

Also note that its 20 737-NB installs for APB, so 19 expected for last year and 1 remaining for this year. The intention of the deal with DE was we could 'claw back' the cost of sensors, I think someone said $20m for these, but I've not read any confirmation that that deal was secured.

They are stating that we should expect the FULL COMMERCIALISATION of CVM within H1 2020...not just APB or Wifi...this then applies to the numerous other applications available for commercial airlines to adopt to save millions annually and OEM's to also adopt these CVM's in their designs.

Ann 15/04/19

20 x 737-NB Aft Pressure Bulkhead (“APB”
The commercial terms for the Programme will be finalized by the Parties in the near term. However, due to DAL’s (fully finalized) 2018 calendar year allocated budgets set for the remainder of 2019, it has been mutually agreed that at this juncture DAL will contribute their labor costs required for the twenty installs and SMS will contribute the initial twenty (20) CVM™ kits for the Programme. Present discussions, and a pending modification to the Aircraft Component Purchase Agreement (“ASCPA” executed previously by DAL and SMS, are underway to permit SMS to claw-back the value of the kits in 2020

Ann 26/07/19
This milestone leaves SMS with one final document, a Technical Consultant Agreement (“TCA”, to be excuted with Boeing in relation to the current 737-NG APB project. The TCA will identify in detail the engineering data support and analysis required from the OEM and the pricing associated with providing such support. SMS anticipates the finalization of this document during the current quarter. The TCA will pave the way for how the Company will address all future CVM™ approvals which may also require Boeing engineering input and technical analysis.

Ann 02/09/29
Significant work has been completed on the TCA, by both Boeing and SMS personnel, and the Company expects to have an executed TCA in the near future. As such, at this juncture the Company has maintained the timing for approval of the Service Bulletin by Boeing will be obtained in Q4-2019 or Q1-2020.

Ann 01/10/19
This milestone leaves SMS with one final document, a Technical Consulting Agreement (“TCA”, to be executed with Boeing in relation to the current 737-NG APB project. The TCA will identify in detail the engineering data support and analysis required from the OEM and the pricing associated with providing such support. SMS anticipates the finalisation of this document in the very near term. The TCA will pave the way for how the Company will address all future CVM approvals which may also require Boeing engineering input and technical analysis. The associated costs for all Boeing work required to approve SMS CVM Kits for all future Service Bulletin, Airworthiness Directive and maintenance tasks on behalf of our global operators will be covered under individual TCA’s. Significant work has been completed on the TCA, by both Boeing and SMS personnel, and the Company expects to have an executed TCA in the near future. As such, at this juncture the Company has maintained the timing for approval of the Service Bulletin by Boeing will be obtained in Q4-2019 or Q1-2020.

Ann 10/12/19
As detailed below – with particular reference to the Company’s pending near-term expected FAA-provided Issue Paper (“IP” which would initiate the final commercialization requirement for the global use of CVM™ as an alternative compliance method to legacy inspection protocols on the world’s largest narrow-body fleet aircraft type – the final stages to reach full commercial approval are expected to commence in the next few weeks, as we enter 2020.
Further discussion concerning the remaining timing and work requirement related to the issuance of this all-important FAA IP will follow below, and SMS personnel, and partners, will seek to hold a broad-based investor call immediately subsequent to this critical event.
The level of interest in the industry remains very strong, and consistent feedback received regarding use of our sensor technology is highly indicative that once SMS receives any leading confirmation from the FAA that CVM™ is to be approved, these airlines will be immediately ready to discuss progression to key commercial applications.
SMS believes that once we have reached Stage 3 (see Table below) to certification, we will be very well positioned to engage in commercial discussions with these airlines (expected to be in Q1-2020).
With the expected full commercialization for CVM™ in H1-2020, we anticipate extensive shareholder initiatives for engagement including domestic and international investor roadshows targeting of different segments including retail, domestic and foreign institutional investors.