Star Navigation Systems Group Ltd. (CVE:SNA) (PINK:SNAVF) has been attracting a lot of attention recently as the company had several press releases stirring up the market.
SNA stock has been having large spikes in trading volume recently with some of them close to a 2 million mark. That is a huge turnover compared to a three month average of 225 thousand and it is making the price go up and down with increased volatility.
The stock price got more active after it approached support at 16 cents per share which held off this pressure pretty well.
Such a trading could be associated with several news releases the company recently had. In their latest one the company issued details on a new licensing agreement between SNA and 2283188 Ontario Ltd. Follwing the terms Star Navigation will be paying royalties of 3% of gross revenues, 10% of all service fees and 10% of all usage fees.
The company stated in another press release that they recently showcased STAR-ISMS technology in Dubai Airshow and reported to have received favorable feedback from interested attendees.
The news look favorable but are not really materially important at this moment. The royalties will be affecting their operating results once the sales start rolling, but for now Star Navigation operates virtually without revenues.
