Perth Nano-Satellite company delivers 45% profit after backdoor listing
The Perth led backdoor listing of Israeli company Sky and Space Global into ASX listed shell Burleson Energy has delivered its backers a 45% profit on day one after the newly reconstructed shell relisted on the ASX yesterday.
After reconstructing Burleson Energy at 2c a share and re-complying with the relevant ASX rules, the architects of the deal, led by Perth Corporate finance player Brett Mitchell, delivered their investors a 45% profit on day one after the stock touched 2.9c a share yesterday with around 100m shares traded.
Sky and Space global are an Israeli based company seeking to commercialize relatively new “nano-satellite” technology that involves launching miniature satellites into space at a fraction of the cost of traditional satellites for the purposes of creating their own voice and text messaging global satellite telecommunications network.
Instead of costing tens of millions of dollars to launch as is the case with traditional satellites, Sky and Space Global will pay just $750 000 for their first 3 unit launch with each launch thereafter capable of deploying some 30 nana-satellites into space.
Nano-satellites are only 10cm x 10cm x 30cm in size, weigh less than 10kg and can be launched into space very cheaply by hitching a ride on the back of other major launches.
They can also be purchased off the shelf as a proven hardware item with the real smarts residing in the software and knowhow to control and operate them from earth.
The three Israeli founders of Sky and Space Global have exquisite CV’s in the area of space and satellite communications and are part of a rare fraternity that have already put a nano-satellite into space having been involved with the Duchifat -1” nano-sat project in 2014 on behalf of the Herzliya Space Centre.
The CEO, Mr. Meir Moalem is a former Israeli jet fighter pilot who ended up leading the MEIDEX space research experiment on the Space Shuttle Columbia as the project manager for Israel's first astronaut flight.
The CTO, Mr. Meidad Pariente is a former AMOS-1 Israeli communications satellite operator and Deputy Mission Manager for the AMOS-2 satellite and he was the Chief Systems Engineer for the AMOS-3 satellite which successfully launched in 2008. Mr Pariente, a nano-satellite expert also led a team of Israeli engineers and scientists designing the VENUS project, a joint Israeli-French hyper spectral satellite.
Maya Glickman, the COO of SSG, was a Senior Satellite Engineer working on communications satellites with Israel Aerospace Industries. Ms Glickman was part of the AMOS-3 satellite development team and led the end-of-life mission team for the AMOS-1 satellite.
The company is targeting mid 2017 as the launch date to launch their first 3 unit nano-satellite network and they have already secured a Pan-African telecommunications customer who will soak up all available band with.
Sky and Space Global recently raised $4.5m as part of the backdoor listing and say they are now fully funded until after the launch of their first 3 unit nano-satellite network with the medium term goal being to launch a 200 strong constellation of nana-satellites capable of creating an affordable global telecommunications network.
Sky and Space Global’s CEO Mr. Meir Moalem said, “Today is a significant day for Sky and Space Global, with the commencement of our shares trading on the Australian Securities Exchange. With the Company already delivering strong progress towards the launch of our initial communications network in mid-2017, Sky and Space Global’s proprietary nano-satellite technology has the potential to offer affordable bandwidth globally to billions of people who are otherwise unable to access any voice, SMS or instant messaging services.”
Sky and Space Global (SAS)
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