Ann: HTG & Innovation Central Perth to Tackle Global Connectivity, page-150

Hi Pisces,

Some light Sunday reading.

Been reviewing the recent Investor Presentation, the AR, and some of the posts following the webinars.

Bear with me, it's interesting...

AR Page 10:

Phase 2 of the Strategic Plan is focused on income diversity by transitioning the business model away from its current majority focus on energy and resources sectors services by rapidly expanding commercial opportunities and developing elevated sustained levels of Annual Recurring Revenue (ARR)

As illustrated by the graphic accompanying the commentary, the transition away from the current majority focus on energy and resources and the rapid expansion of commercial opportunities elsewhere is centered on an increased focus on Government and Defence, especially but not limited to the US.

Indeed, the way the various presentations are worded and delivered by management, focus on Government and Defence is clearly a foundational priority for Phase 2 of the Strategic Plan.

Following the webinars, various posts on HC confirmed the company is planning to either make an acquisition in the Govt/Defence space or establish a separate company/division that would operate independently from the commercial division in order to quarantine the Govt/Defence technology and activities. Any potential CR would be specifically to support these initiatives.

The Chairman emphasized several times that trust is a critical element of doing business in these sectors, especially as regards 5Eyes. Hence the need for an independent operating division.

I recently posted on Inmarsat's credentials as a longstanding - 30 years - and trusted partner to US Govt/Defence/National Security interests.

These observations led me to look at Speedcast who are also a trusted partner to US Govt/Defence/National Security interests:

Specializing in Missions of High Consequence

Speedcast’s Government business, UltiSat Inc., operates as a wholly-owned subsidiary of Speedcast International.

Headquartered in the Washington, D.C. area, UltiSat is a global provider of end-to-end managed networks, cyber-security capabilities, and advanced engineering and technical services.

Offering a range of services including satellite, terrestrial and wireless networks, airborne ISR solutions, as well as systems integration and field services, UltiSat specializes in providing secure communications and networking solutions for customers in the defense, national security, civil government, and critical infrastructure markets.

https://www.speedcast.com/industries-hub/product/government/

So who exactly are UltiSat, and how do they operate?

Not Just Another Integrator– a Trusted Mission Partner.

Missions of Consequence Demand High Caliber Communications

Corporate Structure

UltiSat is an independent wholly-owned subsidiary of the global communications company, Speedcast.

UltiSat is a completely separate and independent proxy company, with its own board of directors, governance, security clearances, financing, facilities, information technology, and dedicated personnel.

This allows UltiSat to focus exclusively on the unique mission requirements of government and critical infrastructure customers, while still benefitting from the buying power and scale of a larger commercial organization. UltiSat is a U.S. based company incorporated in Delaware and fully authorized to provide services to U.S. government customers.

https://ultisat.com/about-us/

So, there we have it. In our partner Speedcast - and by extension UltiSat - we have a blueprint for exactly how Harvest intends to operate in the US Govt/Defence/National Security market.

IMO investors and the market at large have completely missed the significance of the Speedcast Partnership, not to mention Inmarsat.

From the Speedcast Announcement:

In line with the Group’s Three-Phase Strategic Plan launched in October 2020, a key condition of Phase 1 is the development of relationships with global industry partners to support scalability of Harvest’s leading-edge technology and rapid diversification of its customer base and revenue streams.

The significance of this announcement is:

• the intent of the parties to enter into a non-exclusive resale agreement that focuses on developing sales opportunities for Harvest’s Infinity products as a complimentary component to Speedcast’s value proposition; and,

• the potential for increasing Harvest’s global market penetration and diversifying its customer base and revenue stream.

Which of course is exactly as detailed in the Investor Presentation, the Annual Report and the recent webinars.

If anyone is interested, there is more interesting reading around who UltiSat are and what they do, here:

https://twitter.com/UltisatInc