Advanced Defense Technologies - Takes Flight on Star Jets Bitcoin Announcement
ADVANCED DEFENSE T COM STK USD0.01 (OTCMKTS:ADCF), it would appear, is becoming Star Jets, a leading provider of private jets booking, brokerage and software solutions. So, a dead ticker is being revived. Not only that, but it’s a sub-penny trading on a thin tape. To make matters all the more combustible, the new team just hit the market with a press release mentioning the word “Bitcoin”: as in , the company “announces that it has made arrangements to now accept Bitcoin as a payment mechanism for its private jet services.”
According to the release, “Star Jets International, LLC offers its customers all the advantages of owning a corporate jet, without the burdens associated with ownership. This includes unprecedented flexibility through access to over 5,000 private jets domestically and 15,000 private jets worldwide. Star Jets executives have over 17 years of experience in aviation and marketing, www.starjetsintl.com. Star Jets International, LLC (OTC: ADCF) a leading provider of private jets booking, brokerage and software solutions.”
ADVANCED DEFENSE T COM STK USD0.01 (OTCMKTS:ADCF) is a company in transition. The prior material described a company that has been developing new breakthrough technologies for military defense, EW, SATCOM, Homeland Security and Commercial wideband communications systems for over 10 years.
Company has been recognized as one of the foremost innovators and has been awarded over a dozen DOD (US Army, Air Force, MDA and Navy) SBIR Phase I and Phase II contracts. Specifically, ADTI has developed new wideband phased array technology under Phase II SBIR Programs with US Army (USAMDC Contract: DASG60-03-C-0082 and USAF Contract: F33615-99-C-1406) which deliver leading edge solutions to the current issues of: high cost, large size, bandwidth limitations, low efficiency, system complexities, extensive cooling requirements and reliability issues.
The new phased array technology has been identified to have applications in the next generation high power up-link and down-link systems, SATCOM, Phased Array Radars, Missile Seekers, Wide-band RF communications systems, EW systems and ISR airborne systems that are more cost effective, reliable, smaller size, more efficient, and lightweight with significantly reduced cooling requirements. ADTI’s team and resources include highly talented engineers and scientists and their facility is equipped for advanced product design, analysis and implementation.
Star Jets recently completed a transaction with Advanced Defense Technologies, Inc. pursuant to which Star Jets shareholders became the majority shareholders of ADCF. Star Jets is a leading provider of private jets booking, brokerage and software solutions.
As discussed above, this pivot play just launched out of a deep sub-penny range that had been defined by thin volume. The catalyst was the company’s move to declare its acceptance of bitcoin as a valid payment for private jet flights.
Frankly, given the visibility of any headlines containing the word “Bitcoin” right now, this announcement probably is most important simply as an advertisement for the company, which is how they treat the body of the release.
“Bitcoin is becoming an increasingly accepted method of payment and we want our customers to have the flexibility to pay via that medium of exchange,” said Ricky Sitomer, CEO of Star Jets.
According to the release, Star Jets also announced that it is taking steps to both remove the “Stop Sign” on its stock and to change the name of its parent company to Star Jets International, Inc. Those steps require the filing of certain information with otcmarkets.com and compliance with applicable FINRA rules, State law, and SEC regulations.
“We hope to have the ‘Stop Sign’ removed and the name changed as soon as possible once all regulatory steps are taken,” said Mr. Sitomer.
Traders will note a bit less than 430% tacked on to share pricing for the name in the past month. This is emblematic of the stock. ADCF is a stock who’s past is littered with sudden rips. Furthermore, the listing has seen interest climb, with an increase in recent trading volume of a bit less than 920% above the average volume levels in play in this stock over the longer term.
Earning a current market cap value of $5M, ADCF has virtually no cash on the books, which compares with about $462K in total current liabilities. One should also note that debt has been growing over recent quarters. The company is pre-revenue at this point. This is an exciting story, and we look forward to a follow-up chapter as events transpire. Sign-up for continuing coverage on shares of $ADCF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in ADCF, either long or short, and we have not been compensated for this article.