XML 20 R6.htm IDEA: XBRL DOCUMENT v3.2.0.727
1. Nature of Business
9 Months Ended
Jul. 31, 2015
Notes  
1. Nature of Business

1. Nature of Business      

 

PASSUR Aerospace, Inc. (“PASSUR®” or the “Company”) is a business intelligence, predictive analytics, and big data company. Our mission is to connect the world’s aviation professionals onto a single platform to improve global air traffic efficiencies.

 

PASSUR® has a broad and global customer network. PASSUR®’s products are used by all of the top North American airlines, over 125 airlines worldwide, over 60 airports including 73% of the top 30 airports, approximately 200 business aviation organizations, and the US government.

 

Our core business addresses some of aviation’s most intractable and costly operational and financial challenges, including underutilization of airspace and airport capacity, delays, cancellations, and diversions.

 

Solutions offered by PASSUR® cover the entire flight life cycle, from gate to gate, and result in reductions in overall costs, fuel costs, and emissions, while maximizing revenue opportunities, as well as improving operational efficiency, and enhancing the passenger experience. The Company provides data consolidation, information, decision support, predictive analytics, collaborative solutions, and professional services.

 

We provide airlines and airports the ability to get the most out of today’s air traffic management system. As the Federal Aviation Administration (“FAA”) brings new capabilities online, we, with our customers, will have the ability to develop additional efficiency solutions.

 

Essentially all commercial companies using the airspace depend on information from the FAA for flight tracking. PASSUR® augments and integrates FAA information with data from PASSUR®’s independent network (the largest passive commercial radar network in the world), which has over 180 radar locations covering North America from coast to coast. PASSUR® provides faster aircraft position updates (from one to 4.6 seconds), and more complete information on aircraft. PASSUR®’s sensors receive aircraft and drone signals in Mode A, C, S, and Automatic Dependent Surveillance-Broadcast (“ADS-B”), providing position, altitude, beacon code, and tail number, among other information.

 

PASSUR® receives signals from aircraft that, when combined with our historical database of aircraft and airport behavior, including information recorded by our network over the last 10 years, allows us to know more about what has happened historically, and what is happening in real-time. In addition, the historical database, also accessible in real-time, allows us to predict how aircraft, the airspace, and airports are going to perform, and more importantly, how the aircraft, the airspace, and airport should perform.

 

PASSUR® offers companies products that are commercially proven, commercially accepted, and with a demonstrated Return on Investment (“ROI”) for airlines and airports – providing a critical bridge between the commercial and government opportunities of the FAA’s Next Generation Air Transportation System (“NextGen”), the new national airspace system due for implementation across the United States in stages over the next 10 years. NextGen proposes to transform the U.S. air traffic control system from an aging ground-based system to a satellite-based system.

 

Management is addressing the Company’s working capital deficiency (which is only caused by its deferred revenue balance) by aggressively marketing the Company’s PASSUR® Network Systems information capabilities in its existing product and professional service lines, as well as in new products and professional services, which are continually being developed and deployed. Management believes that expanding its existing suite of software products and professional services, which address the wide array of needs of the aviation industry, through the continued development of new product and service offerings, will continue to lead to increased growth in the Company’s customer-base and subscription-based revenues.

 

If the Company’s business plan does not generate sufficient cash flows from operations to meet the Company’s operating cash requirements, the Company will attempt to obtain external financing.