Looks like Hosted Payloads is a "Bust" like I predicted. Yet, "another", "no money down deal", from a development partner. First we had the commitment, "but no money" from Orbital, who is a NEXT Contractor, then we had the laughing stock of Aireon.. If you can find real customers.. You create them out of thin air, with more "no money down" requirements. Now the latest from Harris.. Yet, another in a long line of "no money down" deals. The market has shown that it totally reads through the "window dressing" as a hoax.. Here we are, 5 years later and NO Cash Paying Customers... Just future commitments, which are little more than coerced promises.
Same happened over at Globalstar with their "local Service Providers" committing to hundreds of millions of dollars in "pre-paed" airtime.. In the end.. The Service Providers were simply owned by one of the major sub-contractors of the satellites, "Loral". And the deals were actually just "commitments", not contractual obligations.
Under the terms of the agreement, Orbital will make several non-refundable deposits totaling $10 million in 2011 for a right-of-first refusal on 20 percent of the network's capacity to host third-party payloads. The parties also have agreed to the basic terms of Orbital purchasing this hosted payload capacity on behalf of its customers. Iridium believes the arrangement with Orbital has the potential to be worth more than $100 million, including hosting fees and recurring data service fees once in orbit.
Never saw any "non-refundable deposits" show up in 2011. Now they don't even mention it.
May 5th marked the 16 year anniversary of the launch of the first commercial batch of Iridium satellites.
don't worry about me PCTEL..My near 10,000 shares of IOC have been flying the past week..Iridum is a small potatoes play, but one that I think will do well .....Keep with your short on Irdm, and good luck with that GSAT situation you own...LOL!.....Any low 7's and I'll be adding another 1000...I have patience..
In a written response to questions, William Gattle, vice president of aerospace systems at Harris Government Communications, said Harris will not pay Iridium an upfront fee for the hosted payload marketing rights. “It is part of the expanding relationship but no specific rights are paid for other than hosting fees and data services once the additional capacity is sold,” he said.