This is encouraging. I believe the next 6 months will see great progress for Star.
From the MDA just released today
Star’s Management looks to achieve the following for the fiscal year ending June 30, 2012 and ahead to June 30, 2013:
? Continue to execute the commercialization of the Airborne Data Service withParadigm and develop new business opportunities in the field of aircraft criticaldata collection, analysis and transmission. The plan is to have the pilot phase of this service up and running by the beginning of the 4th Quarter 2012 (April 2012)
? Prepare and implement an integration plan for the development/implementation of our STAR-ISMS® software onto CMC’s PilotView® and TacView® EFB type 2’s.Present a business case for the senior management of CMC, Star Navigation Systems Group Ltd. and the joint Star/Paradigm SMC by the beginning of Q4 2012.
• Deliver 12 units of the STAR-ISMS® of the 15 units recently accepted from the Company’s supplier, Luxell Technologies. Three of these boxes will be delivered to Paradigm to satisfy the Purchase Order received in December. A further 3 boxes have been used as engineering units for future testing and proof of the DO 160 E testing. The remaining 9 boxes are now available for the Pilot project customers starting in April 2012.
10
? Continue to work closely with PIA in order to secure a purchase order by building upon the results of the real-time demonstration aboard a PIA A-310 and maintain a persistent approach to negotiations with PIA management. The objective is to sign them on as a pilot project partner within the agreement with Paradigm.
• Continue to develop sales initiatives in the Europe, the Middle East and North America. The ADS marketing and sales strategy is an integral part of our relationship with Paradigm and the full integration of our previous efforts and their resources will enhance our credibility and increase the level of service we are able to offer our potential customers.
• Manage additional funding opportunities and aggressively monitor operating and administrative expenses. The emphasis has moved to improved internal accountability and proper resourcing of the R&D function to avoid missing critical milestones and to delivering project deliverables on time and within budget. Utilize the addition of Mr. Carroll to bring an emphasis on Policy Deployment and the alignment of Strategic goals with every individual within the Company.
• Continue to support the bid to become part of the COMAC 919 project in China. As stated previously, the Company has been informed that COMAC is still going through the selection process and that they have not yet decided/confirmed the econd level/supplemental systems. Potential suppliers (including Star) have no ontrol over the process at this stage.
• Continue research and development efforts, with respect to both increased unctionality of the STAR-ISMS®, and for additional applications. Star continues to be committed to the longevity and improvement of the STAR-ISMS® product / service and will continue to focus significant effort in Research and Development. To that end has employed 3 new Software Engineers and is investigating the addition of a Purchasing Specialist and a Systems Engineer by the end of Q3.
• Continue to work towards improved reliability, extended warranty periods and new capabilities, which are critical to STAR’s long term success.
• Continue to closely monitor and defend our Intellectual Property and to take a leading position in the market through innovation and fast response to the changing requirements of our customer base. The lessons learned from the development phase of our G2 system will be used on our next project to develop a G3 system.
• Expansion of the revenue stream from existing STAR-ISMS® Lite, STAR-ISMS® Ultra Lite and Terrestrial Monitoring products through effective sales, installation and world-wide marketing. As a result of our relationship with a Canadian mapping company we are able to offer exceptionally high reliability for our service along with geo fencing, weather mapping and accurate billing features. For more information see the Company’s website at www.star-navigation.com. The Company’s focus continues to be exclusively on the commercialization and refinement of its product and on the furthering of the sales and marketing of our flagship product – the STAR-ISMS® system.
