Australian-listed satellite communications company NewSat is in administration after being hit by financing woes that threaten to derail its AU$611 million Jabiru-1 satellite project.
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NewSat is on the verge of not being able to complete its Jabiru-1 satellite project, as negotiations with lenders continue.
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NewSat has requested for its trading halt to remain in place until it is able to find a solution with lenders in the United States to provide additional capital raising for its Jabiru-1 satellite project.
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This week, NBN Co commenced construction on its one millionth premises, the company said in a Senate Estimates hearing, where it also revealed that it has yet to gain access to any part of the hybrid fibre-coaxial networks that it expects will make up almost a third of its final footprint.
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Australian satellite company NewSat expects additional funding will be needed to finance the delayed launch of its Jabiru-1 project.
The tablet/notebook hybrid is based on Intel's latest Education 2-in-1 reference design and includes educational accessories like a temperature probe and magnification lens.
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