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Sky and Space Global Ltd (ASX:SAS) is based in Perth, Australia. It constructs and operates the first-ever communication network build on Nano-satellite technology for a diverse range of commercial use across telecommunications as well as international transport industries.
Recently on February 28th, 2019, the company announced to have signed a Reseller memorandum of understanding (MoU) with Cendrawasih Teknologi Nusantara (CTN), a Jakarta-based telecommunications provider servicing the Indonesian market across multiple sectors. Under the terms of the agreement, SAS and CTN will expedite the works to incorporate SASâs Nano-satellites into CTNâs network. It will also enable CTN to resell, market, distribute and support SAS services and products on a non-exclusive basis.Â
Following this significant contact, Sky and Space Global Ltd would be exposed to several opportunities in a market that contains more than 260 million people and thereby expand the companyâs existing connectivity across countries in the Asia Pacific region. It is aiming to offer the residents a more affordable and reliable connectivity network. Apparently, CTN has approached many of its existing clients across the mining, oil & gas and plantation sectors and some of them have returned with expressing interest in the SAS technology.
Prior to this, the company also released its results for the Half-year ended December 31st, 2018, affirming its progress and achievement of significant milestones within the satellite communications industry. Several strategic collaborations and agreements with companies were accomplished, and SAS is expected to launch the first batch of Pearls Satellites in mid-2019.
The company posted revenues and other income at $ 19,333 and the Loss after income tax attributable to the member of the parent entity at $ 3.182 million. At the end of the concerned period, the net cash and cash equivalents stood at $ 1.423 million. There were substantial cash outflows of ~$ 4.03 million from operating activities comprising payments to suppliers and employees. Besides, the investing activities also resulted in cash outflows of $ 3.15 million due to expense borne for the purchase of plant, equipment and payments for development expenditure. Financing activities also led to cash burns of $ 66,762.
SAS is listed on the ASX with a market cap of AUD 61.09 million and approximately 2.11 billion volume of shares. With the close of the market session on February 28th, 2019, the SAS stock last traded at a sell-off price of AUD 0.029 with no intra-day changes and approximately 8,58 million volume of shares traded through the day. It has a 52-week high of AUD 0.165. Over the past six months, the stock performance exhibited a downtrend with an average negative return of 53.23%. The YTD return generated by SAS also stands contrary at 45.28%.
So far, SAS has built highly advanced software systems that commission, control orbit and manage the communication network in space to enable worldwide coverage. In June 2017, the company successfully deployed â3 Diamondsâ, the first three nanosatellites, into space. Going forward, it is preparing for the launch of over 200 nanosatellites by 2020.
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