As a leader in Bluetooth Smart inflight connectivity solutions for jets, AS-IP Tech, Inc. (OTC: IPTK) has revolutionized the aerospace industry through its various inflight connectivity systems. The company aims to connect passengers while simultaneously reducing costs, therefore IPTK pioneered the use of bluetooth technology as an alternative to the current high-cost usage of Wi-Fi. At the moment the stock is undervalued at $.13, however considering the stock’s low float and Wizz Air using its product, IPTK could catch on as one of the best tech penny stocks in the market.
IPTK Stock News
Following the 2007 Wi-Fi crisis that resulted in Boeing Connexion’s shut down, IPTK decided to pursue a different path by providing inflight connectivity using bluetooth instead of Wi-Fi. Powered by bluetooth technology, IPTK’s products connect multiple users in a closed network to optimize data and reduce costs using low earth orbit satellites. After several years of research and development the company launched a product for corporate jets – BizjetMobile. Within a year the product was installed in more than 40 jets.
IPTK’s products offer an easy installation process since only one antenna on each side of the aircraft is required to be wired to its access point. The entire process takes a maximum of 5 hours and $25 thousand to complete, and once completed it can be used for SMS texting, WhatsApp, and Emails. IPTK has also embedded a booking module that includes popular attractions and tourist activities located at the final destination.
As a part of the founding group to develop Wi-Fi on aircraft, IPTK’s CEO – Ron Chapman – understands the importance of IPTK’s product. He emphasized that after extensive research, the company discovered that most passengers or flight crew personnel used the internet on flights primarily to stay connected to family and friends. Surveys show that more than 90% of frequent fliers are not willing to pay for Wi-Fi. With all that in mind Ron Chapman believes that the free solution IPTK offers could gain traction in the air travel sector.
With this in mind, IPTK launched the world’s first Bluetooth commercial passenger system – fflya. Targeting low-cost airlines, fflya offers over 200 passengers an identical, free service per flight, which makes IPTK’s product an attractive option for the growing industry of low-cost and regional airlines. Additionally, fflya can eliminate unnecessary fuel burn because it offers real time operation data used to optimize aircrafts’ performance. But more importantly, it enables payment processing which is a major benefit for carrier’s with in-flight sales operations because it can help increase the average transaction size and number of transactions since many passengers do not carry cash.
Given the upside of using this low-cost product, IPTK has attracted the attention of the €4.3 billion airline – Wizz Air – which flew its first aircraft with the fflya technology in December. Commenting on that, Chapman said “To see it flying and being enjoyed by passengers is a great reward for the incredible work of the team,” he added that “the benefits fflya will create especially for the Low-Cost Airline sector and their passengers, will only enhance this unique service.”
Although IPTK was working with Wizz Air on flight trials for quite some time, the implementation of fflya was delayed as a result of the pandemic, which forced IPTK to add on to its outstanding loans and debts, as well as raise additional funding. Currently, the company is operating at a net loss of $290,234 and has significant debt from convertible notes. However, it has an extremely low float of low float of only 18 million and 41 million unrestricted, outstanding shares.
With a market cap of $34 million, the company could be significantly undervalued considering its potential to capture a sizable market of regional and low-cost airlines. If IPTK is able to build on its relationship with Wizz Air, demand could mount for its cost-effective product, making it one of the leading tech penny stocks in the market.
Media sentiment
IPTK could become one of the best tech penny stocks, as investors like @mjam2020 see the potential of a fleet deal with Wizz Air
Technical analysis
IPTK is currently trading at $.13 with a strong support at .11 with a resistance at .2 and the RSI is resting at 45. The MACD is bearish and accumulation is extremely low.
IPTK Stock Forecast
As a company that works hard to achieve its goals and long-term plans, IPTK could be a good investment for a long term investor. However, the company is not very communicative with its shareholders which means this is a relatively unknown stock. Still, IPTK presents significant potential as the airline industry recovers from the pandemic’s affects. As air travel picks up, fflya could be implemented across many airlines.
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