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Indy, very interesting about TAO missing the mark. Do you have any insight on why their technology did not cut it or perhaps it was just poor sales execution?
Indy, I would appreciate additional thoughts of what the Argus will bring to the table that is not currently available with existing technology. I held certain expectations based on the initial capabilities which were touted since TAO's involvement such as several day endurance and keeping station at high altitudes. Based on what has been disclosed about the new design, the endurance has been reduced to hours and the altitude is limited to less than 20K feet. Without the background to determine how this new Argus breaks new ground and fits into an overall strategy, I am in search of new ideas.
1) Cost savings has always been a component and I assume that is still a factor with Argus. The cost to make an LTA seems to be considerably less than other drones like the Predator.
2) Indirect infrastructure cost in terms of launching and flying an Argus would seem to be less as well, but I don't know how many people it takes to maintain, deploy and fly a traditional drone in comparison.
3) You have touched on the VTOL concept so I am guessing you mean Argus can be launched within a small clearing vs. the need for a runway. Also, by it's nature, it is designed to float and stay on station within a small area in the sky so it is easier to control and keep out of harms way vs. a propeller driven plane or helicopter especially within turbulent conditions.
4) If the Argus were to malfunction, what sort of crash landing would result? I am guessing a 20-30 pound payload and the resulting drag from the fabric envelope would cause less damage than a plane, but what about the fuel component? At one time, there was talk of a parachute system of sorts that would carry the payload back to earth but that was only touched upon awhile ago.
So...given my brainstorming of sorts, is the lure of the Argus in that it hits a "sweet spot" in terms of duration and function as compared with other drone technology?
I assume there are smaller and I think, cheaper, drones which can be easily launched, but might lack the duration and payload capabilites of the Argus. There are also larger solutions that have higher endurance and payload carrying ability, but at a much higher cost.
It seems to make sense, at least on paper, that there is a market for the Argus somewhere. I remain hopeful that the Space Florida data package and the Yuma/NV testing and tweaking was not just done for fun and there are parties involved that see the Argus as a tool to solve a specific requirement.
GTC involvement plus Globalstar would be the icing on the cake and even if the airship side of the business never takes off, the communications equipment side might turn into some decent profits even if they are carried by vehicles built by others.
Any additional thoughts are appreciated.
FWIW - about 60 vessels online now for the EckerCup. EOM
"...can be hand-launched by a single person and must be able to be remotely managed by a pilot with only one day of training."
Pre-requisite of limited infrastructure and ease of use would seem to bode well for the BIB or other hybrid design...I hope we have a shot at some of these spots.
Thanks for sharing.
Tracking page for EckerCup located here:
http://www.eckeryachting.com/tracking.html?&L=1
Satellite Tracking
Track the fleet regatta live!
You can track the positions of yachts participating LIVE. Login easy!
Username: EckerCup
Password: 2012
Your computer should be to see the data optimally, Google Earth installed. If you do not have Google Earth installed, you can change the Portal on Google Maps.
Login!
Click on the GTC Link and it takes you to a login page.
Username ; EckerCup
Password: 2012
I always wonder if the large volume days we are seeing have something to do with LaJolla financing and the cash "true-up" conditions?
The only things I can think of that stand a reasonable chance of news are the upcoming Ecker Yacht race in October and the Q3 10Q.
They seem to be consistently tight lipped about sharing anything unless it is material. Share price telegraphs the sentiment about the firm which is pretty darn awful at the moment. I state the obvious that it's due to lack of any positive news and pressure from the LJ financing or disappointed shareholders. It's only a matter of time before we hear if the low price is due to a more negative event, but I certainly hope that is not the case.
Is helium recoverable? What I am trying to find out is can they take the unused gas in the BIB envelope and restore it and reuse it. Or do they just let it out into the air upon deflation?
Monday might be interesting. Up until that cut sheet came out on the Argus and BIB, we really didn't hear much of anything. Especially with Argus..they said they were not allowed to talk about it even up to the SHM. Now little bits and pieces are coming out. I would like to think that the secret customer has given WSGI permission to start talking and maybe they are also going to be at the expo trying to sell whatever it is that is payloaded on the bird. Maybe next week is a non-event, but timing an announcement with the expo unveiling would be a welcome surprise. Our COB mentioned wanting to land a 30-35M contract? Does he just pull those sort of numbers out of a hat or does he know of a market need that they can fill?
Excellent point about a gasoline engine. If true, maybe Dr K's concept did not prove out, there were legal issues, or they had to go with conventional technology to try to get a product on the market quickly rather than trying to certify a flying bag of flammable "blau" gas or whatever it was called. The whole point of the segments was not only for aerodynamics, but as a storage area for the energy medium for increased endurance. It sure is a Uni-brow raiser.
Well, several days down to several hours is certainly a miscalculation from the original intent, but all the modifications done since the original announcement must have taken their toll - didn't they redesign the engine, pod bay, stabilization system, and hull?
I guess it's time to see what the UAV community thinks of this Argus design. Someone at DOD wanted to test this thing for months in LV, keep WSGI's trap shut as to why they wanted to look at it, what was going to be loaded on it, what it looked like during testing, and what it's specs were. If this mystery client were disappointed, would they have gone through all this trouble? Maybe the specs and cost are things they can live with as long as it functions for their needs. Maybe we will be impressed if they share more footage after the conference?
The proof will be in the number of units sold and not the specs. Reminds me of the laptop that ran for 5 hours in the magazine review, but I only can get around 2 hours with all the features maxed out.
Belated thanks to Nando for the SHM report, BTW.
Is tranche money included in the revs? Guess we need to wait for the Q...
Sami - I think the fact that they referenced the hybrid as being based on the BIB means that the BIB is just that...a blimp. Two seperate products. Not a flying Argus, but more like a beacon in the sky that can detect stuff for a few mile radius.
At first I had to chuckle at the name, but if it is useful and protects our troops, that is no laughing matter for sure.
I hope they can elaborate a bit at the SHM and release some footage prior to the UAV show. A few more days until we get to hear what sort of plans they have or don't have.
BDAY, this wording was in the last Proxy filing:
How can I attend the Annual Meeting?
Attendance at the Annual Meeting is limited to stockholders as of the Record Date. Admission to the Annual Meeting will be on a
first-come, first-served basis. Please email Barbara Johnson at bjohnson@wsgi.com if you plan to attend. Registration will begin at 9:00 a.m.
Eastern Standard Time on the date of the Annual Meeting, and each shareholder may be asked to present valid picture identification such as a
driver’s license or passport and proof of stock ownership as of the Record Date. Stockholders holding stock in brokerage accounts (“street
name” holders) will also need to bring a copy of a brokerage statement reflecting stock ownership as of the Record Date. The use of cell
phones, smartphones, pagers, cameras, recording and photographic equipment and/or computers is not permitted in the meeting rooms at the
Annual Meeting.
6
If we got 200K already, then the other 1.3M would be nice to have. Wonder what the performance packaged needed to show and how WSGI is going to use funds to expand ops? Does this mean more than water at the SHM? The GTC deal is done unless Phipps was waiting on an additonal payout contingent with the Space Florida funding.
"World Surveillance Group Inc. (formerly Sanswire) has announced that it was awarded a $200,000 contract from Space Florida to create a Performance Data Package in connection with the flight testing of the Argus One at the U.S. Army’s proving ground facility in Yuma, Arizona in May/June 2011.
This contract follows a financing commitment of up to $1.5 million from Space Florida, which WSGI intends to use to expand its Florida-based operations and to finance the previously announced potential acquisition of Global Telesat Corp.."
Grasping here while we wait, but I wonder if we see any applique revs from stuff like this?
U.S. Forest Service Purchases 6,000 SPOT Devices
COVINGTON, La. , June 27, 2012 (GLOBE NEWSWIRE) -- SPOT LLC , a subsidiary of Globalstar, Inc. (Nasdaq:GSAT), today announced that the United States Forest Service recently purchased 6,000 SPOT Satellite GPS Messenger(TM) devices, commonly referred to as SEND units, for the purpose of employee safety from In the Zone Communications . In addition to the devices, the U.S. Forest Service has purchased a year of service provided by the Globalstar satellite network.
The SPOT devices are rugged, pocket-sized satellite-based personal trackers that work in places where cell phones and two way radios fail.
SPOT messengers have initiated more than 1,800 rescues worldwide since Globalstar introduced the product in 2007. Outside Magazine recently named SPOT one of the Most Influential Outdoor Gear Items of all-time, placing it in the same category with the Swiss Army Knife and the Jeep S.U.V.
About SPOT LLC
SPOT LLC , a subsidiary of Globalstar, Inc. (Nasdaq:GSAT), provides satellite messaging technology that allows users to communicate from remote locations around the globe. The SPOT product family uses Globalstar's GPS satellite network to determine a customer's location and to transmit messages and GPS coordinates to others, including emergency notifications to an international rescue coordination center. Thanks to these affordable, rugged, pocket-sized personal safety devices, SPOT products provide peace of mind by allowing customers to notify friends and family of their location and status, and to send for emergency assistance in time of need, completely independent of cellular phone coverage or radio frequency range. To date, SPOT devices have initiated more than 1,800 rescues around the world. For more information on how SPOT is helping others stay connected -- from disaster preparedness to outdoor adventure -- visit www.FindMeSPOT.com .
Note that all SPOT products described in this press release are the products of SPOT LLC , which is not affiliated in any manner with Spot Image of Toulouse, France or Spot Image Corporation of Chantilly, Virginia . SPOT Connect is a trademark of Spot LLC . All other trademarks are the property of their respective owners.
About In The Zone Communications, Inc.
In The Zone Communications, Inc. offers mobile satellite communications services including voice and data from two of the world's leading satellite service providers, Globalstar Inc. and it's subsidiary SPOT LLC , to customers such as emergency management, public safety and business continuity planners across the U.S. For more information please visit www.itzcomm.com CONTACT: Ellie Rand
504.949-3999, ext. 208
erand@deveney.com
(END) Dow Jones Newswires
06-27-12 1115ET
Well, at least it is forward progress:
1) Space Florida still alive
2) Increasing revs - better than descreasing or none
3) Beginning constuction of hybrid (I assume that is the smaller UAV mentioned)
4) Olympic ties
5) Conference participation to get the word out.
Better than silence or no update but we still need to wait on any shareprice impact pending some sort of big revenue catalyst. Warm fuzzy news is doing nothing for us at the moment.
To all you race fans out there be it by land or sea (Since I am not)....how important is it to monitor certain engine and mechanical parameters in order to keep the contestants on a level playing field and does this sort of thing already exist in the racing world in real time? Is there or has there been a call to provide real-time stats so that in-race mods are not done to provide an edge? Does this GTC thing pave the way for introducing a monitoring standard that currently does not exist?
Grasping at straws here and maybe reading more into this than just a yacht race, but what the heck?
Further confirmation that Phipps and crew are working hard to expand the US ops of GTC...and succeeding. Every little bit helps.
What's nice about this one is that one-way messaging and Globalstar are mentioned together, which would imply the use of appliques and maybe the use of those free, higher margin, accounts?
No PR from the parent company? EOM
run - that's about all I can think of. For comparison, I can't find any high altitude footage of the Lockheed LEMV either and that is set to fly soon according to the recent post. It's probably not so much WSGI, but the "partners" that are keeping a lid on it.
Lockheed has been at work for years on theirs and just now getting ready to show it off - I hope we don't have to wait that long as the timeframe for commercializing the Argus is 2012.
A good topic for the SHM if nothing surfaces by then as I am sure someone will be bringing it up.
True - the last PR said nothing about "free" flight testing just "flight testing" which we now know was tethered. There may have been free flight done, but they chose not to disclose that.
So they met someone's criteria for satisfying certain "mission parameters" and now they need to go back to MD. Maybe the payload needs certain testing done with the applique and groundstation located in MD or maybe they need to prep for the "free flight" component of the Hybrid design? That piece would make sense in terms of the development progression toward the hybrid design outlined previously.
So we were stationed in NV for 6 months and this is what we come away with? It must be something viable enough and important enough to keep the project going with Eastcor and the sponsor still actively engaged.
As frustrating as it is to not know exactly what is happening, I can appreciate WSGI keeping everything close to the vest and only releasing info that needs to be released per SEC requirements. It tells me that they are thinking in the best interest of keeping the company pristine and compliant which is something the old guard did not do very well.
Speculation based on a tidbit here or there is what got the company into trouble in the past. If they truly have something noteworthy, it will come out in due time and the share price will react accordingly. If they have the goods and we get a sustainable appreciation in valuation, it will be easier for me to be patient knowing that new managment has been doing the right thing all along. The exact opposite could happen too and then it's shame on me for not reading the tea leaves properly, but such is life in the penny stock world.
Nil, I am wondering about this GSAT issue and the new Navy contract.
It all hinges on how much traffic we are expected to pass throught the LEO constellation and where that traffic is going to orginate.
The GSAT website shows simplex coverage as being pretty good which is good for GTC and the applique side of things which is probably the bulk of the emergency response asset tracking contract.
The Navy contract is a different issue if any of that is going to use the duplex portion of the LEO constellation. We don't know the details of what equipment they are using but the applications mentioned in the PR require two-way communications which would fall under the duplex model.
Maybe the Navy contract is using an entirely different sat constellation from a competitor so there are no concerns?
That plus maybe the access to those free accounts which might be used to reduce costs to the end client in order to win the business?
whoa - great DD, sharklady!
25M value over a 2 year period? Hard to say what the net profit will be based on unknowns like how many units and which equipment was sold (although the GTC blog shows a picture of the Thrayne model next to the news release). Maybe this is where those "free" accounts can come into play?
Out of all the resellers of the satellite broadband equipment, GTC is the one that landed this contract. Based on what we have been through - I am impressed at what they have been able to do.
I did not see a mention of Gemini Global or UML partnership in this one?
Well...it is 40% higher than the previous high of 104K in Q3 2011. On a percentage, basis, it is "significant" and it's a start. Let's hope that can be sustained and grown.
Maybe our 10-Q will shed additional light on GTC applique revenue tied in with SPOT usage? Very curious on the GTC "record revs" mention in our previous PR.
"SPOT service revenue during the first quarter was approximately $5.3 million, an increase of approximately 27 percent compared to the same period in 2011. Due to the continued success of Globalstar's SPOT Satellite GPS Messenger™ and related consumer products since their introduction in November 2007, Globalstar has received orders to ship over 370,000 SPOT retail devices to over 10,000 points of distribution in North America, Europe, Latin America, Australia and Southeast Asia. The award-winning devices have also been responsible for the initiation of more than 1,800 rescues around the world."
To add to the painful memories, I actually bought a Magicphone box and subscribed to VozBrazil to kick the tires. Ouch!
They can call it the Argus-0.5 EOM
Coastie - thanks for doing the math on this.
So if LJ elects to convert the max 5% of the Debenture every 30 days, that amounts to (500,000 * .05) = $25,000.
Using the math, that is 3,666,667 shares plus $187,917 in cash.
But then they are obligated to provide tranches of $250,000 every 30 days as well so they will need to offset the cost of the tranche with a combination of cash and selling the shares recieved, correct?
WSGI is also obligated to pay a commission to Vista Capital starting at 8% plus Warrants thus applying further pressure to the trading.
It seems that LJ is in a position to realize a return on investment without much appreciation in shareprice, but time will tell if a catalyst for a higher shareprice will materialize such that LJ (and us) receive a windfall of sorts through a more substantial appreciation.
This is probably a stretch, but Globastar mentioned this PR about a team using the SPOT tracking device in the Titan Desert Race.
http://www.globalstar.com/en/index.php?cid=7010&pressId=724
Here is a link which looks like the tracking app that was used.
http://tracemyway.com/gaes/titan2012/
I say it's a stretch because I thought the SPOT was using GSAT's simplex data platform which I think is tied in with the GTC applique. Plus it could be an applique tied to GTC UK vs US and it was provided by a company called TraceMyWay.
From GTC's site:
We specialize in providing asset tracking and monitoring solutions using the extensive Globalstar low orbit satellite network and own a number of unique network infrastructure devices, known as appliqués, which provide the processing technology that enables and powers Globalstar's Simplex Data Service and SPOT tracking devices. Our appliqués are located at a number of satellite ground stations owned and operated by Globalstar and their independent gateway partners. Additionally, GTC operates its own satellite ground station in Easton, MD which is used for R&D, testing and customer demonstrations.
I would assume the 250K/month is coming in now since the two conditions were met - the S1 is deemed effective, and 91 days since the Feb 2 closing date has passed.
Do we get a filing to show this or wait for the Q2 10-Q?
Missed this yesterday - S1 is now effective.
http://www.sec.gov/Archives/edgar/data/919742/999999999512001409/xslEFFECTX01/primary_doc.xml
Mide, you and others got a chance to see MC at the last SHM and this presentation from the CO conference paints a picture of a man who doesn't write checks and put personal property on the line when he doesn't have a good hunch that the ROI will be good. He seems like a person who handles the big picture and assembles the team to implement and execute.
If he were selling big chunks of shares on his way out the door, I would be concerned, but he still has his shares and real estate pledged so that kind of skin in the game is reassuring.
http://wasc.rmtech.org/Speakers/Speaker%20Bio.php?speaker_id=111&year=2010&event_id=7
We don't know the size of this contract, wait..did I just write "contract"? Yes - they said "contract" not "letter of intent". There's a word we have not associated with WSGI in a long time - not since Space Florida.
So where are they going to get the dough to build these devices and customize the software. I wonder when the delivery date is due? They probably need funds to get all this going and that leaves them dipping into the 500K from LJ, the previously mentioned increase in business from GTC, or the 250K per month tranches from LJ. Regardless, this unknown US agency would probably not sign a contract without vetting WSGI as a supplier that has the finances to support their operations - I hope.
I am hoping that it is the tranches that will be starting and that will confirm the value of LJ and their mutual confidence in WSGI. Interesting how this is timed within a week of when LJ can elect to release some funds. I don't think it is by coincidence.
My rose colored glasses say that MC and company have been incubating this plan for a long time. He put up a lot of cash and some real estate to get the ball rolling. His investment background set the stage for WSGI to start operating on it's own and now he can leave it within capable hands as he rides off with 23M shares to work on his next venture.
The next few weeks should enlighten us some more with the Q due soon and any telling activity from LJ.
Cool, the website says 10-20K altitude and several day endurance. But I hear ya'...it would be nice to get official confirmation in the form of a PR from successful 3rd pary testing by the DOD and not just website hype.
Testing was anticipated to extend for the next several months and they seem to be sticking to the release of only "approved" info. I think we are stuck in the dark until they throw us a bone.
Nevermind...I didn't take the time to see this was the partner mentioned in the blog..sorry 'bout that.
http://www.gmpcs-us.com/