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    IPTK   US00214P1066

AS-IP TECH, INC.

(IPTK)
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AS-IP TECH INC : Other Events (form 8-K)

08/19/2020 | 06:05am EDT

Item 8.01 Other Events. AS-IP Tech, Inc. (ASIP) has been advised by its licensee, PT. Jalin Angkasa Indonesia (JAI) that it has entered into an In-flight Connectivity Implementation Preliminary Agreement with PT Citilink Indonesia (Citilink).

JAI and Citilink intend to install connectivity equipment owned and managed by JAI, on an Airbus A320 operated by Citilink, for a trial period of 90 days in order to evaluate ASIPs fflya system and program.

The Bluetooth fflya platform is the only ultra low-cost alternative to Wi-Fi, specifically designed for low cost and regional carriers, capable of supporting free passenger messaging, crew communications, inflight e-commerce, interactive airline promotions and telemetry data acquisition.


The evaluation will be implemented in three stages:
1. ground;
2. in-flight messaging; and
3. in-flight interactive.

On completion of a satisfactory evaluation, JAI and Citilink may agree and formulate a detailed program specification and fleet implementation plan to be stipulated in a separate agreement.

Under the licence ASIP has granted JAI, ASIP will receive commissions from the net revenue generated from any fflya program with Citilink.

© Edgar Online, source Glimpses

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Financials (USD)
Sales 2020 0,04 M - -
Net income 2020 -0,77 M - -
Net Debt 2020 0,93 M - -
P/E ratio 2020 -2,93x
Yield 2020 -
Capitalization 34,6 M 34,6 M -
EV / Sales 2019 61,2x
EV / Sales 2020 87,6x
Nbr of Employees -
Free-Float 77,8%
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Managers and Directors
NameTitle
Ronald John Chapman President & Director
Philip Andrew Shiels Chief Financial Officer & Director
Richard Lukso Chairman
Graham O. Chappell Director
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