Cornerstone support of $7 million for the placement has been secured.
· The Company was founded by highly credentialed and internationally renowned Israeli satellite and aerospace experts.
· Initial 3 Nano-satellites Ready for launch – Assembly, Integration and Verification Testing of the 3 Diamonds satellites completed Completed a placement of 60,000,000 ordinary shares to sophisticated and professional investors at 8.5 cents per share to raise $5,100,000.
· Communication systems successfully tested – transmission of voice calls, instant messaging services and data transfers all successfully completed on ground prior to launch
· Initial customer contracts in place – Key agreements with wholesale communications providers Globalsat Group Llc and Sat-Space Africa to provide customer contracts to South American and African end-users.
· Significant near term revenue opportunity – potential for up to A$300$500 million per annum in annual revenue once a constellation of 100 nano-satellites is in orbit (2018/2019), growing to A$600 million - $1 billion per annum with a full constellation of 200 nano-satellites in orbit (2020).
Recent Activities
• The Company’s launch vehicle for the “3 Diamond” in early Q2 2017, the iSRO’s PSLV, completed another successful mutli-satellite launch on the 7th December 2016
• New commercial wholesale customer agreement secured with BeepTool LLC via a Letter of Intent for a portion of the Company’s bandwidth from its 3 demonstration nano-satellites – the “3 Diamonds”
• Completed a placement of 60,000,000 ordinary shares to sophisticated and professional investors at 8.5 cents per share to raise $5,100,000.
• Letter of Intent signed with Virgin Galactic to be a future launch provider. Sky and Space Global (SAS) to use Virgin Galactic orbital launch vehicle, LauncherOne, beginning in Q2 2018 to launch the Company’s nano-satellites. Collaboration to launch full constellation of up to 200 nano-satellites significantly bolstering Company’s bandwidth capacity and SAS’s commercial potential.
• SAS has successfully appointed a launch insurance underwriter Brit Global Specialty Ltd which will substantially mitigate the financial risk associated with the company’s initial launch in Q2 2017.
• Commencement of the registration process with the international Telecommunications Union (ITU) to obtain a spectrum frequency for its operations. ITU is the agency of the United Nations (UN) responsible
• Secured wholesale customer, Sat-Space Africa, has secured new commercial contracts with customers for a portion of the Company’s bandwidth from its 3 demonstration nano-satellites due to launch in Q2 2017. The 3 nano-satellites will potentially bring in revenues of $500,000 per annum, with potential to grow to USD$ 2 million with the full Equatorial constellation in operation.
• Contract with Gomspace for construction of 3 nano-satellites
Expand
