PN - Pelorus Navigation partner with Honeywell Message Board

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Gold/Mining/Energy : PN - Pelorus Navigation partner with Honeywell

PN 0.792

+2.1%

Jan 9 9:30 AM EST

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To: Bernard Elbaum who wrote (74)	5/10/1998 9:14:00 AM
From: Step1	Read Replies (2) of 115

Bernard, I could find out but it will take a fair amount of time to sift through the magazines I remember seeing such info into. I think the most important thing for now is to get the FAA to take a clear stance ( or make the stance they already have public ) so that no ambiguities remain as to the direction that future nav systems are taking in the US. The problem is that the FAA is also dealing with the Y2K problems and the immense pressure it puts on budgets, not to mention deadlines as they are also attempting to decide on the pace of changes in navigation systems for the future. Honeywell has competition right at home with Allied Signals and Raytheon and I would worry more about that than Europe right now. The problem with Europe is that they are quite unhappy to see a multi billion dollar industry going the way of the Americans, because they (the US) operate the GPS system and not them and so far have had almost no involvement in it. They have hinted at orbiting their own Sat nav system unless some issues are resolved promptly and /or using Immersat for nav purposes. Obviously, PN stock price reflects a lot of disappointment in the pace of change and implementation of standards in new nav systems, and investors have left the stock because they are expecting a long wait (read dead money) before PN can start cashing in on their technology. The chart indicates a return to the base the stock had before all the FAA type certification euphoria, I could be wrong but 1.50 is pretty damn near. Very low volume lately and still no earnings release althought they were suppose to be out on Apr 28. The only short term positives I can see right now are: 1- the stock gapped around 2.20 and gaps are almost always filled 2- Continental should release its results from pre-comm approval on their MDs around June, which should validate again the product. (the product though has not changed and IS already validated and endorsed by the facts that 1- it is FAA certified, 2-Honeywell is putting its weight behind it AND 3- that NASA is using it in test on landing the space shuttle. Honeywell makes the electronic equipement for the shuttle as per their news release of last year) I hope I got a basic understanding of all those issues, if anyone would like to comment, correct or add to these please feel free. sg

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