Airborne Wireless Network (OTCMKTS:ABWN) is a penny play in the sky wifi space that has been on a tear of late. As you may recall, when we last covered this name, Airborne Wireless Network had just come out with news that it was developing its “Infinitus Super Highway,” which contemplates providing a high-speed broadband airborne wireless network by linking commercial aircraft in flight as repeaters, which will send and receive broadband signals from one aircraft to another.
At that time, we said, “If this project gets traction, the potential of this strategic direction to foster further growth could conceivably be a game changer for the company.” Since then, the stock has gone into orbit and now the company is getting serious about leadership in the top spot, with the announcement of a new CEO: it has appointed Michael (Mike) J. Warren as Chief Executive Officer.
Airborne Wireless Network (OTCMKTS:ABWN) trumpets itself as a company that focuses on developing, marketing, and licensing a wholesale fully-meshed high-speed broadband airborne wireless network.
This network will enable participating aircraft to act as airborne repeaters or routers, sending and receiving broadband signals from one aircraft to the next creating a digital superhighway in the sky. The company is involved in developing Infinitus, an airborne broadband network providing connectivity for worldwide broadband carrier services using commercial aircraft. It intends to sell wholesale bandwidth to the telecom and Internet service providers.
The company was formerly known as Ample-Tee, Inc. and changed its name to Airborne Wireless Network in May 2016. Airborne Wireless Network was founded in 2011 and is based in Simi Valley, California.
According to company materials, “Airborne Wireless Network intends to create a high-speed broadband airborne wireless network by linking commercial aircraft in flight. Each aircraft participating in the network will act as an airborne repeater or router sending and receiving broadband signals from one aircraft to the next creating a digital superhighway in the sky. Airborne Wireless Network intends is to be a high-speed broadband internet pipeline to improve coverage connectivity. Airborne Wireless Network does not intend to provide retail customer coverage to end users, but, instead, will act as a wholesale carrier with target customers, such as internet service providers and telephone companies… Currently, the world’s connectivity is achieved by use of undersea cables, ground-based fiber and satellites. Airborne Wireless Network believes that Airborne Wireless Network’s airborne digital highway is the logical solution to fill the world’s connectivity void. Once the network is developed and fully implemented, its uses are limitless. Airborne Wireless Network, once developed, should provide low cost, high-speed connectivity to rural areas, island nations, ships at sea, oil platforms, in addition to connectivity to commercial and private aircraft in flight.”
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According to the release, Mike Warren (the new CEO) has recently served as the Regional Operations and Security Director for ECC International in Afghanistan. In this capacity, he has overseen the security of 18 Major DOD Construction Projects, totaling $1,000,000,000, including a $500 million Asia Development Bank road project building the Ring Road from Herat to Mazer-e-Sharif, and a $50 Million USAID Infrastructure Development project with the Afghan Ministry of Mines, Oil, and Gas.
Before that, Mike was the Director of Operations, Security & Safety for Checchi & Company Consulting, Inc., in Afghanistan and he focused on the Measurement and Evaluation Program under contract with USAID. Prior to that he was the Program Manager for the Human Terrain Systems under the International Security Assistance Force for NATO and the US Army G-2. He has been an advisor to the US Embassy, to COMISAF and CJ2X at HQ’s ISAF in Kabul, Afghanistan.
We’ve witnessed more than 160% added to share values of the company over the past month of action. The situation may be worth watching. ABWN has evidenced sudden upward volatility on many prior occasions. In addition, the listing has seen an influx in interest of late, with the stock’s recent average trading volume running a bit less than 260% above its longer-run average levels.
This should not be overlooked with a float in play that’s relatively small — of 30M shares. As savvy traders are well aware, a jump in average daily transaction volume in a stock with a restricted float can unleash fireworks as supply is squeezed. Since we last covered the name, the stock has moved 99.1%.
Currently trading at a market capitalization of $264.4M, ABWN has a reserve ($1.3M) of cash on the books, which is balanced by virtually no total current liabilities. The company is pre-revenue at this point. You can bet we will update this one again as new information comes into view. For continuing coverage on shares of $ABWN stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!
