Northstar Electronics, Inc. (NEIK) Progress Update on Deal With Major Aerospace Manufacturer – GlobeNewswire (press release)

VANCOUVER, British Columbia, Oct. 25, 2017 (GLOBE NEWSWIRE) — Northstar Electronics, Inc. (OTCQB:NEIK) previously stated that its subsidiary, Northstar Sealand Enterprises Ltd. (NSEL), is working to acquire the worldwide rights to a “Turbo-Prop” single engine industrial airplane from a world leader in the aerospace industry.  The timeline for the final agreement with the subsidiary company that owns the rights to the airplane has been extended. The main reason is that there is a strong possibility that the parent company will use our transaction as an “Offset,” which means that much of our acquisition costs included the Intellectual Property(IP), prototype, tooling, etc. would be covered (when international companies win large multi-billion contracts from the Canadian government, the companies have obligations to put considerable work into local companies.)
As mentioned before, the primary applications for the airplane are in “Agriculture and Rapid Response Forest Fire Fighting” where the needs for both types of airplanes are high. NSEL is continuing its assessment of the “Cloud Seeding” market. So far, the results look positive. Management believes the new design features of the NSEL airplane will quickly lead to it being a leader in its class.Once the airplane “Rights Acquisition Agreement” is signed, NSEL intends to aggressively roll out its plans to initiate the actions leading to manufacturing the airplane and marketing it worldwide. The Company’s basic marketing strategy is to first focus on markets in which the former version of the plane was a big success, with many of those customers expressing considerable interest in the new, innovated version.  NSEL plans to then expand outward to other markets, domestic and foreign, where there are also strong needs for the performance capabilities of this new design.NSEL’s estimates for annual revenues in the fifth year of operations are of the order of $30M, with good profit margins.On

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