[Satellite Today 05-11-09] TerreStar reported a decrease in net cash used in and provided by investing activities by $3.4 million compared $46.3 million and $500,000 compared to $207 million, respectively, according to its first quarter financial results released May 7.
The decreases were attributable to the proceeds of $76.4 million from the sale of SkyTerra shares received in 2008 and a decrease in debt proceeds in the amount of $208.9 million.
As of March, TerreStar said it had contractual obligations of $181.1 million due within a year, consisting of about $130.1 million related to its satellite system, $46.0 million related to its handset, chipset, and terrestrial network, and $5.0 million for its operating leases.
TerreStar said it expects to spend approximately $28 million in satellite launch insurance for its TerreStar-1 satellite.
TerreStar Europe recently filed an application for the award of S-band spectrum in Europe. The company said that if it wins the spectrum awards, it would need additional funds in TerreStar Global for satellite construction and terrestrial ground network development.
TerreStar Reports Operating Results; Will Need More Funding if Awarded S-band
GomSpace to Establish New Ukrainian Joint Venture for Sovereign Comms
GomSpace, the Danish satellite company, looks to play a key role in developing sovereign satellite capabilities in Ukraine. It has signed a deal with its Ukrainian partner Stetman which will see […]
Trending Now
-
Earth ObservationNRO Makes New Commercial Awards to EarthDaily, Iceye, and Pixxel
-
Government/MilitarySpace Force Awards $3.2 Billion to 12 Companies for Space-Based Interceptor Work
