Looks good. ..QBAN $$
Ceo letter says..
FCC lump sum figure to Advanced Satellite Systems for repacking 1.35 million..
Great news in this open letter..
Open Letter from CEO
Open Letter to Shareholders from Chief Executive Officer (CEO), William J. Sanchez Ormond Beach, FL / September 21, 2020 / Telco Cuba, Inc. (OTC PINK: QBAN) Dear Shareholders,
While the last 6 months have been unprecedented in scope, Telco Cuba, Inc. has kept moving our agenda forward. Each business unit fared differently during the past 6 months, but we believe the future is brighter.
Advanced Satellite Systems, Inc.
Advanced Satellite Systems, Inc. abided by the “Keep Americans Connected” initiative, spearheaded by the Federal Communications Commission (FCC). We were precluded from disconnecting non-paying customers, and saw self-customer attrition due to inability to pay. We have adjusted to the changes by expanding our service offerings to other cities in the State of Florida. More information will be disseminated as we progress on that front.
The FCC has mandated a restructuring of C-Band frequencies in use by the industry. The restructuring, or “repack” is intended to free up a large portion of the C-Band spectrum for auctioning.
The repack has opened up several opportunities for Advanced Satellite Systems, Inc., most notably is the FCC’s offer of a lump sum figure to compensate registered earth station operators for the expense associated with the repack.
Advanced Satellite Systems, Inc. operates 7 registered and licensed earth stations throughout our service footprint, each with a headend providing service to the adjacent areas. The lump sum payment due to Advanced Satellite Systems, Inc., based on the FCC cost catalog is approximately $1.35 Million Dollars.
Telco Cuba, Inc. is analyzing how best to proceed with this windfall, to further Advanced Satellite Systems, Inc. objectives. The proceeds offer an opportunity for growth via Advanced’s current infrastructure, acquisitions and beyond.
Advanced Satellite Systems is continuing its infrastructure overhaul. The company has completed approximately 90% of a rewire in Ormond Beach, FL. Once complete, we will start to offer 4K and HD television services there.
