Business
Star Navigation announces sale
TSX Venture Exchange Symbol: SNA TORONTO, March 17 /CNW/ - Star Navigation Systems Group Ltd. (TS...
About this update from Star Navigation Systems Group Ltd.
[{"type":"text","content":"\n\n\n\nTSX Venture Exchange Symbol: SNA\n\n\nTORONTO, March 17 /CNW/ - Star Navigation Systems Group Ltd. (TSX: SNA-V)\n("Star" or the "Company") is pleased to announce a sale of its ISMSTM Lite\nsystem to an aircraft operator in Pakistan, for a number of its aircraft. The\nISMSTM Lite provides Flight Tracking, Asset Management, Two Way Data/Voice\nCommunications, and Backup Emergency SOS/distress capabilities. Star will be\nresponsible for providing the necessary modification approvals or Supplemental\nType certificates as required for installation. Installation will be carried\nout by the purchaser.\n\n\nThe total value of this sale & recurring revenues over five years is\nexpected to be up to US$ 215,000. Actual figures may vary and are partially\ndependent upon the amount of airtime used by the customer. A deposit has been\nreceived at this time and payment in full is due on the later of April 30,\n2008 or completion of installation.\n\n\nAbout Star Navigation: Star Navigation Systems Group Ltd.\n(www.star-navigation.com) owns the exclusive worldwide license to its\nproprietary, patented In-flight Safety Monitoring System, the first system in\nthe world to feature in-flight data-analysis, monitoring and diagnostics with\na real-time connection between aircraft and ground. Its real-time capability\nof tracking performance-trends and predicting incident-occurrence enhances\naviation safety and improves fleet management while reducing costs for the\noperator.\n\n\nCertain statements contained in this News Release constitute\nforward-looking statements. When used in this document, the words "may",\n"would", "could", "will" and similar expressions, as they relate to Star or\nits management are intended to identify forward-looking statements. Such\nstatements reflect Star's current views with respect to future events and are\nsubject to certain risks, uncertainties and assumptions. Many factors could\ncause Star's actual performance or achievements to vary from those described\nherein. Should one or more of these factors or uncertainties materialize, or\nshould assumptions underlying forward-looking statements prove incorrect,\nactual results may vary materially from those described herein as intended,\nplanned, anticipated, believed, estimated or expected. Star does...