TSX Venture: FLY
Shares Issued: 142.5 million
Fully Diluted: 182.1 million
It took exactly one week from the time FLYHT announced the launch of its revolutionary, lightweight, portable satellite communications device - the Dragon to announce its first sale. The Dragon contains much of FLY’s technology and by utilizing an iPad, literally puts it into the hands of helicopter and small aircraft operators.
DAC Aviation, a Lasalle Quebec-based African humanitarian air transportation provider, has ordered and received Dragon units for five of its Cessna Caravan Aircraft. According to the news release, the gross revenue to FLYHT will be approximately $95,000 USD for the length of the contract.
When the Dragon was announced last week, an investor asked if Jabil is also manufacturing the Dragon product. Bill Tempany, CEO of FLYHT, responded saying that Jabil builds the circuit boards and Calgary-based Microlynx assembles and tests the units.
To view today’s news release, please click here.