A brief history of Crawford Capital...
Paul Crawford of Crawford Capital Corporation (CCC) has been assisting early stage companies with their fund raising strategies since 1990. Mr. Crawford is also an entrepreneur who founded Cellcom in 1981 to file with the FCC to secure one of the two licenses being issued first in each of the top 135 U.S. markets including the Minneapolis SMSA for the deployment of America’s first cellular networks. Cellcom ended up in a joint venture with MCI which initially operated as MCI/Cellcom and later as Cellular One of Minnesota. It was sold to McCaw Communications in July 1986. In 1998 Paul Crawford co-founded a very successful dot-com, Commission Junction, which was acquired by Value Click in 2003 that in late 2014 was acquired by Alliance Data Systems (ADC). In 2007 Mr. Crawford began putting all of his focus on “cloud based” SaaS services and 4G, mobile high-speed internet communications.
What is evident today is that Apple’s invention of the iPhone and the Web App store were the biggest advancement in communications of all time and that, and in the process, these have obsoleted almost everything that existed in communications prior to the June 29th, 2007 introduction of the iPhone. Smartphones are smart because, unlike the plain old cell phone, they have a both a voice connection and a high-speed Internet connection. LocaLoop has developed a “turnkey” cloud-technology based business solution that delivers broadband Internet service for rural satellite service providers many of which were rural Dish Network resellers. This Business to Business (B2B) business model was the test-ground of LocaLoop’s patented wireless technology and it has been fully proven, end-to-end, in rural markets. The local reseller had to purchase all the network equipment, lease the towers, and provide marketing and customer service locally. LocaLoop provides its proprietary cloud-based SaaS business software and remote NOC services on a subscription basis for about $18 of the $80 average monthly recurring revenue subscriber fee. The Company’s original plan was to build its own wireless network to provide high-speed broadband Internet service directly to consumers in rural and underserved areas of the U.S. This was stifled because of the effects of the 2009 through 2012 financial meltdown that closed off access to capital for most developing and early stage businesses. In early 2019 the Company decided that it was the right time to go back to its original plan and to start building its own network because large portions of rural America today, are still lacking access to good high-speed broadband Internet. The recent PANDEMIC has made it even more important for remote schooling and work. Based on marketing expert surveys, LocaLoop determined that it should launch its own D2C synKro branded network in 16 contiguous rural communities located in Central and West Texas as the ideal underserved area to proceed with the plan. The implementation is working well, and the buildouts in these targeted, rural communities is expected to be fully deployed and operating profitably by the middle of 2021.
The biggest new development going on in wireless communications right now is 5G. The FCC decided that the best way to launch 5G for rural areas was to have a very unusual spectrum auction whereby the bidders would be bidding for licenses in 3233 specific, largely rural counties rather than bidding in larger areas that would be comprised of multiple counties. That is what led to the CBRS PAL Auction 105. The bidding started on July 23, 2020 and ended on August 25th. The FCC officially closed the auction on Wednesday, September 2, 2020. LocaLoop was a qualified bidder in Auction 105 and bid in every one of the 76 bidding sessions and have acquired 122 PAL licenses covering 113 counties. These licenses are very valuable to LocaLoop for its own use and for sublicensing. LocaLoop is well on its way to realizing a needed vision and building a growth company.
Federated Wireless is a leading SAS provider who will be handling the CBRS frequency sharing capabilities for CBRS service providers. They are also providing an on-line brokerage platform for trading and leasing of PAL licenses. The FCC has announced that licensing business arrangement can begin September 17 ,2020. Spectrum experts predict that the value of these licenses will initially rise 2 to 3 time in this secondary market directly at the auction’s closing and continue to rise from there.
For more information about LocaLoop, Inc. contact Paul Crawford of Crawford Capital Corporation.