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Another encouraging update. Revenue inflow beginning is always great to hear. Hopefully financing talks are progressing in a positive manner as well.
Thank you for the update. Always very much appreciated. Will be interesting to see what's in store for ASIP in 2023.
Imho
Mj
Thanks for the update. good to hear revenue
Business jet update. I am sure you have all heard of Starlink, the $10 billion Elon Musks venture into satellite connectivity.
2000 satellites in operation most of which don’t talk to each other and they last around 4-5 years. (Iridium, Intelsat, Viasat and Inmarsat satellites last 20 years)
They just announced their new business jet service available sometime in 2023. Service charge $12,500/mo-$25,000/mo with a one-time hardware cost of $150,000." Plus a complex installation and huge antenna that would only suit large jets. They also suggest up to 350 mbps and 20 ms latency which is amusing. Below is what Starlink delivers on the ground which is not even close and bear in mind, in the air via satellite it is usually 5-10 times slower. Also being KU band is severely impacted by precipitation. (Going to work great in winter). LBand Iridium although slower, is not effected.
So much for cheap satellites wifi however, the Viasat’s large business jet system is $650k and $11k per month.
Our new business jet system launched recently and distributed by Bizjetmobile is RRP $25K plus $599 per month, for unlimited sms, email and WhatsApp. We charge $3 per Mb, if they want access to the internet. Iridium internet Is slow, but it works. The fact is our customers are cost conscious and don’t need the Internet, (They just like to know they can.) They prefer our unique unlimited messaging service to keep in contact and their pilots can also use it without running up a huge bill. We have our first 7 orders in various stages of installation, and revenue to ASIP has begun.
“Starlink's median download speeds in the US dropped from 90.6Mbps to 62.5Mbps between the first and second quarters of 2022, according to Ookla speed tests. Starlink's median upload speeds in the US dropped from 9.3Mbps to 7.2Mbps in the same timeframe.
Median latency also got a little worse for Starlink's US customers, rising from 43 ms to 48 ms. The latest numbers are in Ooka's Q2 2022 report on Starlink speeds around the world, released Tuesday. "Starlink speeds decreased in every country we surveyed over the past year as more users sign up for service," this week's report said. “
New offering from Tmobile on select flights for some larger airlines.
https://www.t-mobile.com/support/coverage/t-mobile-in-flight-connections-on-us
Imho
Mj
Thank you! Things get a little more exciting with each step.
Imho
Mj
With northern hemisphere summer now over, been very hectic the last month with both bizjets and airlines.
Will provide an update next week.
Ron
Nice to see the 10k filed. Possible update on funding initiatives soon maybe? Seems like some sort of deeper pockets would take a serious interest in this tech offering reasonable terms on an actual investment here and not to just turn a quick buck.
Imho
Mj
We've been concentrating on ffly but bizjetmobile taking off too. This article from 10/5/2022 on runwaygirlnetwork.com
"Following the commissioning in the USA of BizjetInternet on a Gulfstream G450, the first production system has been delivered to Europe for installation this month.
BizjetMobile’s CEO Adam Chapman said: “We now have orders for new installations in the USA and Europe. Some are for fleet operators, who have been waiting for a cost-effective Internet solution.
“With over 100 hours of flight testing on the G450, we have clearly validated the benefits of BizjetInternet. If you want to cut your Wi-Fi bills by up to 95%, have your crew and passengers connected the entire flight with unlimited data and control Internet access, BizjetMobile has the solution.”
Today’s modern mobile phones consume a huge amount of Wi-Fi data. BizjetInternet eliminates the issue by accessing the Internet using the BizjetInternet app. When combined with Iridium Certus Midband, you are able to decide when you activate Wi-Fi and what services you allow to connect.
Passengers and crew can stay connected the entire flight using BizjetMobile’s unlimited Bluetooth texting services and only switch to Wi-Fi if they need it. Shutting down Wi-Fi and background activity eliminates bill shock.
BizjetMobile offer two unique Iridium platforms. CHiiMP, an entry level messaging platform starts from a low $9,999 plus, $399 per month for unlimited data. BizjetInternet, our ultra-low-cost Internet system, $24,990 plus $599 per month for unlimited Email, SMS and WhatsApp texting; there is no better deal.
If you own an existing Iridium telephone phone system, or Inmarsat SwiftBroadband system, or are looking for a new installation, then contact BizjetMobile to find out how easy it is to upgrade.
About BizjetMobile:
Formed in 2014, BizjetMobile is a division of the ASI group. BizjetMobile’s solutions are also the forerunner to ASIP Tech Inc’s (Ticker Code: IPTK) world’s first Bluetooth airline passenger free texting solution called fflya, recently selected by Wizz Air. The core messaging services were pioneered globally by BizjetMobile, creating an ultra-low-cost connectivity solution for private and corporate jets.
BizjetMobile’s industrial team ASiQ Australia, is an approved Iridium Value Added Developer, Inmarsat Connect Partner and SITA Swiftbroadband reseller. The ASI group has over three decade of inflight connectivity experience and created the world’s first hybrid Bluetooth Wi-Fi aircraft connectivity platform. The only significant change in inflight connectivity in 20 years.
https://runwaygirlnetwork.com/2022/10/bizjetinternet-iridium-certus-midband/
New revenue stream for IPTK, along with the ongoing tours, bookings, ads.
Important points to note:
1. Frees up cabin crew
AS-IP integrated the Wizz Air Food and Boutique menu into the fflya messaging app. Passengers with the app were able to place an order and pay directly, receiving a receipt in real time. Previously the crew would process the transaction
2. Costs the airline nothing
Under the recently expanded three-year deal with Wizz Air, AS-IP will cover the cost of delivering the solution. The companies agreed to a revenue sharing model that allows AS-IP to recoup its investment based on utilization of the on-board services
3. Easy installation, no lengthy downtime for the aircraft.
"Realtime credit card processing is now available on the fflya platform, extending the capabilities of the Bluetooth-based inflight connectivity solution. The service was demonstrated on a Wizz Air A321 as part of the ongoing deployment trial with that carrier.
"The fflya live Transact program is both PCI compliant and has Two Factor authentication, replacing the outdated method of caching credit cards onboard and downloading after the flight."
– Ron Chapman ASIP CEO
To demonstrate the transaction processing capabilities AS-IP integrated the Wizz Air Food and Boutique menu into the fflya messaging app. Passengers with the app were able to place an order and pay directly, receiving a receipt in real time. Previously the crew would process the transaction on board in an offline state, caching the details until the plane landed and could batch upload the details for processing.
With the real time processing airlines dramatically reduce risk of fraudulent transactions on board. The lightweight solution uses a small, window-mount antenna which connects to the Iridium NEXT network. A single Bluetooth 5 access point on board supports all client connections. This architecture reduces airline costs compared to traditional IFC solutions by avoiding larger, heavier, external terminal installations.
The flfya implementation also includes a crew module to receive and process the order. The CrewX app can also perform full point of sale transaction processing, including the same credit card authorizations, over the same lightweight link.
The fflya platform delivers free inflight text messaging to passengers, as well as interactive promotions, especially around tours and activities at the destination. The messaging uses fflya’s bespoke interface, which raises questions around adoption and access to third party applications, especially if multi-factor authentication is enabled.
Under the recently expanded three-year deal with Wizz Air, AS-IP will cover the cost of delivering the solution. The companies agreed to a revenue sharing model that allows AS-IP to recoup its investment based on utilization of the on-board services. The deal calls for AS-IP to “provide its fflya system for 19 of WIZZs United Kingdom based A320 and A321 aircraft under the previously agreed revenue sharing arrangement.”
Taking a cut of the credit card transactions in exchange for processing them in real time is likely a more stable revenue stream for AS-IP than commissions on tours or hotels sold during the flights, albeit at much smaller dollar amounts. The company expects a combination of the two revenue streams to offset the cost of developing and deploying the fflya platform on board."
https://paxex.aero/wizz-air-fflya-credit-card-processing/
The whole fleet there has been/will be equipped with fflya. Hopefully we'll get some further info when the 10k is out next month
Hopefully I'm not looking at this too closely or misunderstanding something...but I like this line...
"Wizz Air has been equipping its UK-based fleet of A320 and A321 twinjets with fflya -"
Imho
Mj
More detail on the IPTK inflight cc processing, from Runway Girl Network
"16 Sep 2022
By Mary Kirby
Novel fflya system sends live CC payments out the window for Wizz Air
Among the many benefits of installing cabin connectivity on aircraft is its ability to facilitate live credit card transactions in support of airlines’ buy-on-board food & beverage and retail programs. These transactions can be processed via an airline’s app, through its onboard wireless portal or in-seat IFE system, or indeed by cabin crew members armed with online point-of-sale terminals. But a broadband connection isn’t required for live transactions, as technology specialist AS-IP Tech (ASIP) recently demonstrated on a Wizz Air Airbus A321 fitted with its novel Bluetooth connectivity solution, called fflya.
Wizz Air has been equipping its UK-based fleet of A320 and A321 twinjets with fflya — featuring unique window-mounted antennas that talk to Iridium NEXT satellites — to provide passengers with free messaging (SMS, email and WhatsApp). And the budget operator recently started integrating fflya into its mobile app, marketing the solution as TEXT&FLY BY WIZZ.
In an update about its work, ASIP this week revealed that the messaging platform can now incorporate live in-app credit card payments, after successfully flight-testing the functionality for Wizz Air UK. “To demonstrate its capability on the Wizz Air A321, ASIP incorporated the ‘Food and Boutique’ menu into the fflya messaging app, allowing an order to be placed, paid for by credit card and a receipt return to the app,” said ASIP in a statement.
The so-called ‘fflya Transact’ functionality “includes a crew management module (CrewX) that manages the sale process and automatically updates the passenger app. fflya also brings to life crew EFTPOS [electronic funds transfer at point of sale] terminals,” said ASIP. Notably, fflya Transact is both PCI compliant and has two-factor authentication.
But is the unique fflya light connectivity solution really transacting in real-time insofar as authorizations for payment processing are being sent to the ground in-flight via Iridium satellites? Or do credit cards technically get processed at the gate after the aircraft lands? We asked this question of ASIP because many airlines often use point-of-sale systems with an offline mode that allows them to accept offline credit card transactions for low-value items.
ASIP chief executive officer Ron Chapman responded: “It does both live. Near real-time for in-app and real-time for the handheld EFTPOS ‘tap and go’ terminals.”
Furthermore, Chapman confirmed to RGN that all processing happens in-flight and that all transactions occur “over Iridium”, whether via Iridium’s classic legacy service (now in play at Wizz Air UK) or Iridium’s nextgen Certus service.
It’s true that ASIP was initially focused on enabling low-value remote transactions in compliance with EU regulation PSD2. But the fflya platform is no longer consigned to the low-value post-flight processing world as this platform, which boasts a proprietary Bluetooth 5 protocol, “solves that problem as it’s fully compliant,” Chapman said.
From a technical standpoint, that means there is no real limit on the amount of spend that can be transacted.
Given the real-time nature of CC processing via fflya, inflight fraud can also be reduced — though it’s also fair to say that the aggressive use by airlines of ‘black list’ and ‘declined credit card’ collection and recovery services has reduced onboard fraud over the last several years.
The fflya solution, said Chapman, replaces the outdated method of caching credit cards onboard and downloading the information after the flight.
Moreover, while fflya certainly doesn’t support a broadband Internet connection for passengers, it is a potentially attractive alternative for those carriers that don’t want — or feel they need — to make a heavy investment in IFC, including certain low-cost carriers.
It’s a completely self-funded program for airlines, noted ASIP, “creating a whole new dimension to e-commerce inflight.”
https://runwaygirlnetwork.com/2022/09/fflya-live-cc-payments-wizz-air/
Very nice, very nice. Everything is sounding great...just gotta get this network up in the skies and see how it all plays out from there. Feels like we could be sitting on something massive here. Time will tell.
Imho
Mj
Nice find. Thank you!
fflya sends live credit card payment out the window
NEW YORK, Sept. 15, 2022 /PRNewswire/ -- AS-IP Tech Inc (USOTC: IPTK) announced today following recent successful flight tests on Wizz Air, fflya the world's first inflight Bluetooth free messaging platform now incorporates live in-app credit card payment.
To demonstrate its capability on the Wizz Air A321, ASIP incorporated the Food and Boutique menu into the fflya messaging app, allowing an order to be placed, paid for by credit card and a receipt return to the app.
Ron Chapman ASIP CEO said" Our proprietary Bluetooth 5 protocol eliminates the security and latency issues associated with Wi-Fi and is the only way to cover a single aisle aircraft with one access point and give everyone onboard the same level of service.
The fflya live Transact program is both PCI compliant and has Two Factor authentication, replacing the outdated method of caching credit cards onboard and downloading after the flight.
Credit card default becomes a thing of the past.
When combined with fflya's unique custom window antenna system, fflya eliminates the need for complex Wi-Fi and broadband installations which fail to deliver."
fflya Transact includes a crew management module (CrewX) that manages the sale process and automatically updates the passenger app. fflya also brings to life Crew EFTPOS terminals. fflya is a completely self-funded program for airlines creating a whole new dimension to e-commerce inflight.
fflya with Bluetooth, the only significant change in inflight connectivity in 20 years.
About AS-IP Tech, Inc.
AS-IP Tech, Inc. is leading the world in Bluetooth connectivity solutions for aircraft. The company management has a thirty-year history of flying new communication technologies worldwide.
Over the past decade AS-IP Tech focus has been on creating a new method to connect passengers with the aim of reducing the high costs of inflight connectivity. fflya has been selected by Wizz Air and is currently in operation. The corporate jet version of fflya, Bizjetinternet is distributed by BizjetMobile LLC and the worlds first Certus 100 platform flying on a Gulfstream 450.
Yes I believe this is how all or majority of the ultra low cost carriers work...which is the target market and the reason IPTK is focused here. Seems to be some good potential revenue streams once all get implemented. Seems reasonable to me that we could be witnessing the birth of a big board company here on the pink sheets if they choose to go that route down the road. Does IPTK have that special sauce that will eventually be looked at as the main alternative to WIFI? There is a big void to fill there in the space. Only time will tell but things seem to be coming together.
Imho
Spirit typically up-charges for EVERYTHING. Almost nothing beyond the seat itself is included in the base ticket price. I am not surprised there was a lot of debit card activity.
I flew Spirit from Det to LA and back this past week. Spirit was charging $10 to use the wifi they are testing on the flight back from LA. I didn't notice anyone near me using it. Also the drink cart couldn't go more than 3 rows before being stopped. Alot of debit cards exchanging hands. The use case for Fflya seems to be there.
Hopefully whatever financing is achieved is done so with minimal dilution or terms that are reasonable for current holders or atleast pushes the due dates out to a point where revenues begin to be recognized before the selling hits. Seems like with the potential here we could land some longer term holders willing to acquire preferred shares or financing that non dilutive? Or is that no longer a thing these days? Lol
Looking forward to seeing this service used by millions. I think the potential is there.
Imho
Mj
Nice summary. Thank you.
Imho
Mj
Great! Keep us posted on how those discussions go.
Pretty well summed it up. So far 12 firms have expressed interest. We have follow up calls being scheduled for next week.
Interesting format. As the world is obsessed with Wifi, getting our story over in 4 minutes was a challenge.
As the bulk of wifi equipped aircraft are in the USA, many were surprised to learn that in 2023 approx 20,000 aircraft carrying 3 Billion passengers will not have connectivity.
Bill is handling our cap raise in the USA.
The funding is to execute our plan to secure 1000 aircraft. Initial target Europe.
The presentation will be online next week, so I will share once available.
Thanks for the information
Yes - I participated in the IPTK presentation yester (Ron - I am Joe from the break out session).
I found it interesting. First, let me give a brief overview of the format. For starters, it should be understood that this was not a one-way "webinar", but rather a ZOOM call in which all participants were visible to the others (I had my video off) and where all participants could ask questions (in the breakout sessions). After some intros and some plugs for the sponsoring groups (a Washington based group that sponsors these kind of forums to connect emerging companies with private angel investors and angel investment VC firms), the spokesman for each of the 9 companies was introduced in turn and had 4 minutes to give their pitch. This consisted of a one-way presentation (no questions yet) where the presenter used a short Powerpoint deck to outline what the company was all about, the opportunity, their numbers and projections, and the investment they were looking for at this stage. In some ways this was reminiscent of entrepreneurs giving their initial pitch on "Shark Tank", although the companies presenting were more advanced and were asking for more money (there were no negotiations or offers during the session).
.
After each 3 presentations, they popped up a survey where you could ask to be contacted with more information about any/all of those three companies if you wanted it. I am not experienced as an "angel investor", but to my ears almost all of the presenting companies sounded intriguing. I have certainly bought into many otc stocks with less potential. I requested more info on 7 of the 9 companies, with the other two looking like they were possible money makers but were addressing markets that just were not a fit for me. Unless I missed something INTK was the only company presenting that was already public. I don't know if, other things equal, this led to more or less interest from attendees in IPTK than in other companies. It certainly meant that IPTK's funding request was structured differently than most of the others because it necessarily had to be related to the current value or IPTK shares in a public market.
After all 9 presentations were complete, each company hosted its own breakout room, and each of the investors on the call could enter that room (essentially, a ZOOM chat) and interact with the company rep(s), asking questions. The companies could provide additional information or color beyond what was included in the original 4 minute pitch.
I joined the IPTK breakout room. There were 10-12 people in this at any given time. I don't know how many total attendees there were, so I don't know if IPTK had more or less than other breakout rooms (I got one of the "free" slots given to the first 100 who signed up, so the total may have been more than 100, as they seemed tob prepared for this). The 10-12 people include Ron and Barry Chapman of IPTK, and Bill Middleton (did not catch his company). Bill was obviously very familiar with IPTK and "soft tossed" some questions to Ron to allow him to cover points of interest and other advantages of the technology that did not make it into the 4 minute overview. I don't know how familiar the others in the room were with IPTK or whether they were already known to Ron and IPTK mgt., so I don't know how many "new ears" the presentation reached. The tone of some of the questions suggested that some of the attendees were less familiar with the technology and company than I was (which is a good thing - the whole point of this was to reach and engage with such investors). In response to these questions Ron was able to differentiate what IPTK offers from "wi fi" and differentiate the costs and value propositions.
Here's the financing that IPTK was asking for (Ron - please confirm that I have this right). They are looking for a $5MM convertible note at 12 cents per share. The note would pay 7.5%, and there would be a "1 for 5" warrant attached. In other words, for each 5 shares purchased (60 cents) you would get one warrant (theoretically worth 12 cents) . We did not get into the fine print items like term of the note, warrant expiry date, or any call provisions related to the convertible preferred or warrants. Presumably the underlying stok would be restricted but that was another detail we did not explore in this forum. They are looking for investors to put in a minimum of $100K each. We also did not discuss whether some portion of this offering had already been spoken for. Maybe Ron can add some color regarding the intended use of the prospective funds.
As I said, I don't have experience with this type of offering, but it seems in line with what I would expect from a company like IPTK at this stage. Any big investor who really likes IPTK would go for this offering as opposed to buying IPTK in the open market. .12/share is above market, but they would get the 7.5% interest and the warrant kicker. Additionally, $100K at .12 is about 833K shares. With average daily volume around 6300 shares, there is absolutely no way anyone could buy 833K shares without substantially moving the market, even if there were not 50 other $100K buys!) I would assume that the market price of IPTK will not move substantially until this offering has been closed. Ron - feel free to correct me and add detail.
Hope this helps.
One final thought. Ron - I checked in the cushions of my couch and came up a little short of a hundred grand. If I had it, I would certainly invest.
Did anyone listen a show? I would appreciate if someone can post opinion on it.
Thank you! I’m assuming eastern standard time
11am -1pm, this is what I have been advised
11:15 - 12:25 pm - ROCKET PITCH SESSION - 12 Promising Early Stage Companies will present:
What time is this happening on Thursday?
Great! Thank You for the heads up on this. I will certainly be attending.
Thanks! I will attend and am looking forward to both the presentation and seeing how it is received by others not already familiar with the IPTK story and technology.
Looks like an outstanding event. Busy Thursday but I'll try. Best wishes
This Thursday 25th August, I will be presenting ASIP and fflya at the Connectprenuer Investor Network Virtual Rocket Pitch.
For those of you interested, you can register on the following link
https://rocketaug2022.eventbrite.com/
Ron
Stock getting a little action here today. One of these days I think the volume column really lights up. Hopefully when the time comes we get some nice bids put in by the larger holders for some bid support. Could be an interesting ride here starting in the noooot too distant future.
Best wishes to all involved.
Imho
Wow...very encouraging update! Seems like that would provide some very nice fire power for the presentations this month if they haven't already occurred. From a business perspective with the cost savings etc...I just don't see how any airline still in need of a connectivity solution could turn down what Fflya and certus can offer.
Would have liked to have seen or heard the owners realtime reaction to the results of that test run.
Already looking forward to future updates here.
Feels like it's all coming together one step at a time.
IMHO
Mj
Awesome, ground breaking news. Thanks!
Flight test results are in on Iridium Certus 100 and it’s very good
Following the commissioning of our development platform by Bizjetmobile on a Gulfstream 450, we have accumulated over 50 yours flying.
To demonstrate the efficiency of our Bluetooth app versus Wifi, on a recent seven-hour flight two pilots used our Bluetooth SMS, WhatsApp, and E mail app service, while the owner was on his native Email and WhatsApp Wifi service. (We blocked all other Wifi connections)
The two pilots online for 7 hours with our Bluetooth app consumed 68Kb of data in total, which would cost around $1 for the flight. The owner doing the same thing on Wifi, consumed 50 Mb of email and 40 Mb of Apps, total 90Mb over 7 hours. Which would cost around $500.
This is why our Bluetooth apps are the ideal solution for Certus 100. Our ability to control the bandwidth with our proprietary software combined with our compression algorithms is unique.
I should note, Certus 100 is suitable for a single user on Wifi wanting very basic services however, it can accommodate hundreds of passengers on our Bluetooth FFlya and Bizjetinternet apps
This month we ship our fflya airline Certus 100 test bed to Europe.
Thx. I notice every company has that on website so I was thinking why not you with uniq product.
That is the product website, will be updating the Corp website next, but that’s a good suggestion so will add it to both Tks
Website looks good. Not sure why they didn’t put link to investors relations though
Nice to see. Thank you!
Website updates look good. Seems service is ready to market to other carriers now.
https://fflya.com/
Thank you for the updates. Anything your able to share is always very much appreciated. We are out here sending our best of good vibes from the sidelines.
Mj
Quick update, first installation kits have just been delivered. I don’t expect installs will get underway until after airline summer peak period as all aircraft fly non stop. So probably mid to late august.
For background, there are 2 key periods in the airline world where installations are usually scheduled. Feb to May and Sept to November. They mainly rotate around scheduled maintenance, so that all aircraft are ready for the peak flying periods which is where the bulk of their revenue is generated.
July and December also effects any discussion with airline marketing, as it’s their most hectic period. What I can tell you is we have presentations coming up next month on several programs following initial submissions.
Ron
Q3 has arrived. Looking for those Wizz installs this quarter. Maybe word on these other airlines as well with the expiration of the exclusivity deal with Wizz? Excited for the next round of updates. Between BizJet and ASIP we could be nearing the start of the revenue ramp up. Definitely staying tuned here.
Imho
Mj
Nice to see a little volume spike this morning. Someone doing a little shopping.
fflya opens the inflight imagination of airline passengers by delivering products and services, plus exciting tours and attraction offers relative to where they are flying. fflya also reconnects passengers with family and friends through free messaging.
Only ASIP Tech has the unique fflya network that can deliver this exclusive inflight service.
It is made possible by the integration of the latest generation App technology, Bluetooth, and Low Earth Orbit Iridium Next satellites.
Combine this with fflya’s world first window antennae and no longer do you need to install complex, heavy, fuel burning antennas on the roof of your aircraft.
LEO’s are only 600 kilometers up and the existing 66 satellites provide global coverage. Each aircraft only require 2 unobtrusive window antennas. One on either side of the aircraft and everyone is connected.
LEO’s also mean a much smaller, lighter system which is simpler to install and that translates into a fully self funding program that we guarantee will generate revenue for your airline from day one.
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