(TEMPORARY WEBSITE WHILE NEW SITE BEING BUILT)
STOCK SYMBOL: NEIK.OTC
NORTHSTAR ELECTRONICS, INC.-COMPANY OVERVIEW
Northstar Electronics, Inc. is a Delaware incorporated company, working in the aviation, defense, and marine industries. The Company listed on the OTCBB under the symbol NEIK in 2000 and is currently trading on OTC Markets.
Northstar began operations in the late 1990’s by developing an innovative underwater sonar system for the international commercial fishing industry. Shortly after, in 2000, the Company was awarded a contract from Lockheed Martin MS2 for the assembly of Command and Control consoles for the Canadian Navy’s submarines. This was followed by Northstar being invited to be a junior partner on Lockheed Martin’s team for the pursuit of a $3.2B military helicopter contract. This venture opened new relationships for Northstar within their company.
Lockheed Martin then contracted Northstar to develop and build the underwater portion of an anti-terrorism sonar system, designed to protect aircraft carriers and other ships of the US Navy from terrorist diver attacks. This was a major effort and Northstar successfully accomplished the work in the required short timeframe.
Lockheed Martin subsequently awarded Northstar the first of two contracts, together worth approximately $16M, to manufacture a number of small mechanical parts for C130 (Hercules) aircraft that were being refurbished. Also, a subsidiary of L3 Communications awarded Northstar a contract, which grew to about $4M, to manufacture Command and Control consoles for navy frigates. Northstar’s revenues reached over $4M in 2009.
Our efforts over the past year have been aimed at turning Northstar around and injecting new energy into it. We are now working to expand into aviation manufacturing and distribution.
have recently joined with Sealand Aviation Ltd. to create an exciting new joint
venture in aviation manufacturing - NorthstarSealand Ltd. (NSL). Both
corporations have many years of experience in working with certified
commercial aircraft and government military contracts.
is working to finalize arrangements to assemble, certify,
manufacture,service, repair, and market a new turboprop single engine
commercial aircraft for the North American market. Financial and
contractual arrangements are expected to be in place soon with first
sales orders and production following. We will provide updates as
they become available.
We also expect contract work this year in the sonar field from a European defense company for which we have carried out several assignments in the past year. The European company specializes in naval sonar systems and shipboard systems such as Command and Control and communications. We know the sonar business well and made solid profits with it in the past.
One of our key activities right now is to get Northstar current with its SEC
reporting in as short a time frame as possible and return to the OTCQB.
Once we achieve our objectives, we believe that the stock price will respond favorably and that it could reach a reasonable and stable price range. From there, assuming the Company performs on the bottom line, we foresee getting back to the much higher share price levels of a few years ago, based on continuing business growth.
currently raising a modest amount of funds, $325,000 , through a
Preferred Share offering. The funds will be used to complete the work
required to become current with the Company’s SEC filings, to return to
the OTCQB, and for working capital for the current phase of our new
aviation business. The investment offering is comprised of a limited
quantity of convertible Preferred C class shares, with warrants and a
10% annual dividend. The Preferred shares are convertible to common shares for a period up to 4 years.
For details on this stock offering and our aviation business venture, please contact:
Dr. Wilson Russell,
Emails: wrussell @ northstarelectronics.com or willrussell @ shaw.ca
About Northstar Electronics Inc.
has a long history of developing and manufacturing defense
and commercial electronic and mechanical systems. The company is now
being restructured to go forward with a renewed focus on the
development of a new aviation business and carry out work to develop
innovative sonar systems. In addition to a small number of internal
personnel, Northstar's new business model utilizes outside expert
associates to ensure that we have world class talent working on our
This website contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, without limitation, in future press releases.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Certain forward information contained in this website contains forward looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.
Contact: Richard Kaiser