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Resonant, Inc (RESN)

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Last Post: 3/14/2022 3:25:14 PM - Followers: 32 - Board type: Free - Posts Today: 0

Great story on RESN 1/5/22:

11:10a ET 1/5/2022 - Dow Jones
Europe Has 5G. Here Is Why It Hasn't Messed Up the Airlines. --
   By Jack Denton 
The U.S. aviation and telecommunications industries are waiting for regulators to assess whether the rollout of 5G poses a safety risk for aircraft. 

Airlines for America, which represents American (ticker: AAL), Delta (DAL), FedEx (FDX), UPS (UPS) and others, filed an emergency petition last week with the Federal Communications Commission to stop deployment of 5G in the U.S. 

AT&T (T) and Verizon (VZ) announced Tuesday that they would delay the launch of the next-generation wireless technology by two weeks after a request from Transportation Secretary Pete Buttigieg. Verizon, at least, seems to hope that 5G will be up and running by the end of the month. 

Meanwhile, across the Atlantic, Europe has 5G and air travel and cargo shipments continue safely. It hasn't wreaked the havoc Airlines for America warned about. 

Why the difference? There could be a number of factors at play, experts told Barron's. 

One thing is for sure: a green light for 5G in Europe doesn't come from a lack of caution among regulators. After all, the European Union Aviation Safety Agency (EASA) last month warned about the potential risk of interference from 5G near airports -- in the U.S. 

The EASA said at the time that "no risk of unsafe interference has been identified in Europe." Instead, the regulator cited the Federal Aviation Administration, which saw specific risk in the U.S. due to the implementation of potentially higher 5G ground station power emissions early this year. 

The source of more wariness in the U.S. may stem from the guts of the radio technology itself. 

The issue at hand is whether signals from 5G radio bands -- intended for devices -- could interfere with aircraft altimeters, which are crucial instruments that tell pilots the altitude of their plane. Radar altimeters are close neighbors to 5G in the radio spectrum. 

This potential problem is most pronounced upon landing when 5G stations on the ground are emitting close to an altimeter, or 5G smartphones are transmitting within the plane. This explains why regulators are focused on the safety impact around airports. 

George Holmes, the chair and CEO of Resonant(RESN) a 5G industry player, told Barron's that the difference between the U.S. and Europe stems from allocated frequencies for 5G, and their proximity to the defined band for altimeters. 

Resonant is a Nasdaq-listed company that designs radio frequency filters, which are used to isolate signals from the right band while blocking unwanted noise from elsewhere in the radio spectrum. These filters are critical in 5G applications. 

In the U.S., 5G is allocated to a range of between 3.7GHz and 3.98GHZ, which is closer to the 4.2GHz-4.4GHz frequency for altimeters than in Europe, which has allocated the 3.4GHz-3.8GHz range for 5G. Holmes said that in Europe altimeter filters will be better at stopping 5G signals, which will result in less potential interference. 

"We are dealing with very low probabilities but extremely devastating consequences," Holmes said. "We are still in the early stages of 5G deployments and usage, so this interference problem remains a potential for the future." 

"Longer term, this highlights the need for high-performance filters for all of the different technologies to co-exist above 3GHz," he added. 

For its part, the CTIA -- a trade group representing the U.S. wireless communication industry -- underscores that nearly 40 countries already use 5G in the region of the radio spectrum shared with altimeters, with no impact on aviation. 

The CTIA cited the Australian Communications and Media Authority, which considers a 200MHz "guard band" protecting radar altimeters to be sufficient. When the FCC allocated space in the radio spectrum for 5G wireless services in early 2020, it left a 220MHz space between these services and the band for radar altimeters. 

Divergent decisions among regulators in the European Union and U.S. could also be a matter of politics. 

Jonathan Atkin, a managing director at RBC Capital Markets specializing in telecommunications, told Barron's that the difference may be mostly due to interagency dynamics within the U.S. government that don't apply in Europe."

There are no warrants left to exercise, the issue with this stock is whether they stop selling shares under the ATM program: 

Common Stock 
We sold an aggregate of 2,524,200 shares of common stock under our ATM equity program between October 1, 2021 and November 10, 2021, at an average price of $2.50 per share, for gross proceeds of $6.3 million and net proceeds of $6.1 million, after deducting commissions and other offering expenses. As of November 10, 2021, we had $45.0 million available to be sold under our ATM equity program.” 

“ On September 30, 2021, we entered into Addendum 1 to the collaboration agreement with Murata ("Addendum 1"), which amends and supplements the collaboration agreement to provide for the development of XBAR®-based designs for up to four additional bands. For rights to these additional bands, Murata has agreed to pay us a $4.0 million non-refundable upfront payment and up to an aggregate of between $8.0 million and $36.0 million in pre-paid royalties and other fees, with the amount of the aggregate payments determined based on the complexity of the filter designs selected for development. The future payments will be made in two installments per band over a multi-year development period, with each installment conditional upon our achievement of certain milestones and deliverables acceptable to Murata in its discretion. Murata retains the right to terminate the collaboration agreement and Addendum 1 at any time upon thirty (30) days prior written notice to us.” 

“As of September 30, 2021, we have raised aggregate gross proceeds of $149.6 million through the use of loans and convertible debt, and sales of equity pursuant to our initial public offering, secondary underwritten offerings, an at-the-market equity program, private placement financings, and the exercise of stock options and warrants. 
We had current assets of $20.1 million and current liabilities of $6.4 million at September 30, 2021, resulting in working capital of $13.7 million. This compares to working capital of $14.7 million at September 30, 2020 and $19.8 million at December 31, 2020.” 

“At September 30, 2021 we had cash and cash equivalents of $15.3 million and accounts receivable of $4.3 million. Subsequent to September 30, 2021, but prior to the publication of the financial statements on this Form 10-Q, we raised $6.1 million of cash from sales of common stock using our At-The-Market Equity Offering Sales Agreement. In the absence of additional customer contracts, we believe these cash resources, along with anticipated cash generated from existing customer contracts, will provide sufficient funding into the fourth quarter of 2022.” 


They have lots of Cash and millions in revenue in the form of their major customer, 36 million in contracts, so why sell shares henceforth?
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RESN News: Termination of Registration of a Class of Security Under Section 12(b) (15-12b) 04/07/2022 11:39:00 AM
RESN News: Notice of Effectiveness (effect) 03/30/2022 03:32:39 AM
RESN News: Notice of Effectiveness (effect) 03/30/2022 03:31:34 AM
RESN News: Notice of Effectiveness (effect) 03/30/2022 03:31:01 AM
RESN News: Notice of Effectiveness (effect) 03/30/2022 03:29:31 AM
#228   Thanks for the reply and the info. I Scott 75 03/14/22 03:25:14 PM
#227   Scott...I bought RESN because I always thought it kruy 03/14/22 12:48:13 PM
#226   So the offer is out and as far Scott 75 03/08/22 10:17:37 AM
#225   Can anyone explain to a slow old man Theo 02/15/22 08:28:25 AM
#224   Wow I guess I got caught with my Scott 75 02/14/22 11:20:22 PM
#223   Per announcement and 8K filing Murata will buy kruy 02/14/22 07:57:14 PM
#222   Thanks for being the board moderator and posting kruy 01/21/22 01:25:32 PM
#221   Per the last CC a contract for non-mobile kruy 01/07/22 01:20:12 PM
#220   36 million forward revenues x 10 multiple / StockLogistics 01/05/22 08:28:10 AM
#219   There are no warrants left to exercise, the StockLogistics 01/05/22 08:07:32 AM
#218   Great asset/liability ratios, the SP decreased because Q3 StockLogistics 01/05/22 07:50:47 AM
#217   Q4 revenues will be very high, attracting much StockLogistics 01/04/22 09:56:49 AM
#216   “What is a simple definition of resonance? StockLogistics 12/31/21 09:02:00 PM
#215   $RESN https://finance.yahoo.com/news/resonant-present-oppenheimer-5g-summit Theo 12/08/21 07:47:50 AM
#214   This tax loss selling is brutal. Looks like kruy 12/06/21 02:46:40 PM
#213   $RESN https://finance.yahoo.com/news/resonant-receives-upfront-royalty-pre- Theo 11/10/21 06:02:11 PM
#212   I tend to agree with "kruy post# 209"...what wiredawg 11/09/21 01:22:29 PM
#211   Resonant to Present at https://finance.yahoo.com/news/resonant-present-upco Theo 11/09/21 08:58:18 AM
#210   I hope your right! There’s a few stocks JoshAdBon 11/04/21 04:59:59 PM
#209   True 5G doesn't exist yet as very little kruy 11/04/21 04:32:55 PM
#208   So I thought last year that this would JoshAdBon 11/02/21 09:02:35 PM
#207   https://finance.yahoo.com/news/resonant-inc-resn-reports-q2-215509002.html[ Theo 08/11/21 10:10:41 PM
#206   2 5G Stocks Trading Under $5; Analysts Say Theo 07/28/21 10:22:22 PM
#205   I think we agree despite saying it different Scandle34 07/13/21 08:54:56 PM
#204   "It means the shipments have not yet crossed Theo 07/10/21 08:01:51 PM
#203   When you've doubled your production and your Scandle34 07/10/21 11:43:25 AM
#202   "I think the revenues are recognized as earned Theo 07/10/21 09:48:19 AM
#201   yes you did, in the next post I Scandle34 07/10/21 09:32:02 AM
#200   I think the revenues are recognized as earned Scandle34 07/10/21 09:31:08 AM
#199   I think the sales from the shelf registration Theo 07/10/21 09:29:33 AM
#198   I think the sales from the shelf registration Scandle34 07/10/21 09:26:28 AM
#197   Nice synopsis, thanks Theo. poonch1ne 07/09/21 11:52:01 AM
#196   Given the lackluster performance of this stock the Theo 07/09/21 10:51:44 AM
#195   👍 👍 Theo 07/08/21 06:05:43 PM
#194   Thanks T! poonch1ne 07/08/21 01:26:36 PM
#193   The only thing I can think of at Theo 07/08/21 01:24:21 PM
#192   What's wrong with this? r they way behind schedule? poonch1ne 07/08/21 12:50:19 PM
#191   I know, bizarre right? Theo 07/08/21 09:34:15 AM
#190   Seemed like good news today? Anybody here? poonch1ne 07/07/21 09:05:51 PM
#189   $RESN- https://finance.yahoo.com/news/resonant-present-upcoming-investor-co Theo 06/03/21 04:30:31 PM
#188   $RESN https://finance.yahoo.com/news/resonant-highlights-evolution-wi-fi-123100831.html [t Theo 06/01/21 09:30:48 AM
#187   thanks pcjockey 05/28/21 12:47:44 PM
#186   3.10 should support and after the next conference Scandle34 05/28/21 11:38:13 AM
#185   Picked up some AH. Will keep an eye pcjockey 05/27/21 05:50:57 PM
#184   between $5 and $10 now depending on sector Scandle34 05/27/21 04:27:26 PM
#183   been sitting on too high a % of Scandle34 05/27/21 04:21:23 PM
#182   Where does it belong? pcjockey 05/27/21 03:42:52 PM
#181   Tomorrow would be fine with me too but Theo 05/27/21 03:10:51 PM
#180   I see this into the $4's soon (tomorrow Scandle34 05/27/21 02:57:35 PM
#179   https://finance.yahoo.com/news/resonant-host-one-one-meetings-123100283.htm Theo 05/25/21 09:03:50 AM
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