ALBANY, N.Y., Dec. 31, 2012 (GLOBE NEWSWIRE) -- StratoComm Corporation (OTC:STCO) provides company status and results of operations for 2012.
StratoComm has progressed throughout 2012 in spite of the company's challenges and setbacks. As stated in an April 2012 press release the company has elected to limit release of information publicly as it redirects its management moves to steer the company to a successful stepping off point
The information provided herein is an overview of that progress.
Helium Replenishment Development
- Under StratoComm's Collaborative Agreement with Cortland which began in the fourth quarter of 2011, a variety of tether designs were developed as a portion of StratoComm's helium replenishment patent. These tethers were produced and subsequently tested for critical design parameters such as crush resistance and break strength.
- Several production processes were considered and tested to assure a cost efficient product and consistent product quality.
- In early 2012, for a period of weeks, a series of field tests were undertaken to evaluate the tether's performance under load along with its capacity to support efficient helium flow.
- In March StratoComm contracted with the U.S. Army Research, Development and Engineering Command (ARMDEC) to schedule final independent testing of its patented tether. This testing took place at the U.S. Army's Russell Tower testing facility located at Redstone Arsenal, Alabama. Armed with the results of the development and field test results, StratoComm worked closely with independent experts to establish testing protocol and minimum performance specifications to establish the capabilities of its patented helium replenishment system.
- StratoComm ensured that all data recording and data analysis was performed independent of its control or influence and in May a comprehensive fifty-five page report was delivered to StratoComm, produced by an independent outside firm. This independent report irrefutably confirmed StratoComm's patented tether capable of substantially exceeding the minimum performance specifications as defined prior to the Russell Tower testing and required for StratoComm LTA Systems.
- The tether tested was confirmed to be capable of supporting a helium flow rate 8-9 times greater than StratoComm's minimum requirements and further confirmed a capability to replenish helium to an altitude fully seven times StratoComm's minimum requirement. These demonstrated and documented performance capabilities may open additional potential markets and market segments for StratoComm's helium replenishment system.
- In June, having received independent confirmation of its helium replenishment tether's capabilities StratoComm undertook to finalize development of all ancillary equipment and software into a concise Handling System Kit to ensure Helium Replenishment is a complete system ready for commercialization.
- Having tested much of the Handling System Kit's equipment and software in support of the Russell Tower testing in March final development was easily concluded in July. As required under the Collaborative Agreement Cortland and StratoComm both acknowledged full performance by the other thereby successfully concluding the terms of their Collaborative Agreement. The next scheduled event is the final negotiation of terms for StratoComm's conveyance of manufacturing rights to Cortland. Formal announcement of the outcome of negotiations will be provided at the appropriate point.
Ongoing IP Development
- In December of 2011 the U.S. Patent Office issued a separate patent to StratoComm relating to the Slip Ring component of its Helium Replenishment patent issued in May of 2010. This is now a key component of the Handling System Kit.
- StratoComm then identified and qualified several companies capable of designing and producing its newly patented slip ring. Following final selection of one supplier, the Slip Ring was designed, built and tested before it was added to the Kit.
- In October the U.S. Patent Office issued StratoComm a patent for its Boundary Layer Propulsion design which is a break through propulsion system relating to StratoComm's continuing Stratospheric System development.
Housekeeping
- Shareholders should be aware that StratoComm continues to post its quarterly financials on its website at www.stratocomm.net.
- A new website is under construction and is targeted for formal launch during the first or second quarter of 2013.
- There is nothing new to report relative to the SEC complaint nothing further is anticipated to be known until well into 2013.
- In the more near term the company is hopeful to be able to address the important matters relating to StratoComm's ability to report activity directly through the Pink Sheets site and the lifting of restrictive legends on shareholder certificates. Further information relative to these important issues will be addressed separately when this information is available.
As we progress into the first quarter of 2013 management continues to be optimistic that it may be able to provide more frequent public reporting of company status and in considerably more detail. Decisions on this point will continue to be made within the context of shareholders best interest.
StratoComm Corporation is a developer and provider of telecommunications infrastructure technologies with a specific focus to the delivery of ubiquitous and cost sensitive telecommunications services to the developing world. The company is further committed to the allocation of a portion of each system's service capacity for the provision of low cost/no cost economic and social programs.
Safe Harbor Disclosure – This Press Release contains or incorporates by reference "Forward Looking Statements" including certain information with respect to plans and strategies of StratoComm Corporation. For this purpose, any statements regarding this announcement which are not purely historical are forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including StratoComm Corporation beliefs, expectations, hopes or intentions regarding the future. All forward looking statements are made as of the date hereof and are based on information available to StratoComm Corporation as of such date. There are a number of important factors that could cause actual events or actual results of StratoComm Corporation and its subsidiaries to differ materially from those indicated by such forward looking statements.
Contact:
Roger D. Shearer, CEO
518-608-8940
rshearer@stratocomm.net
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