Coincidentally on the very day that Worldspace founder Noah Samara announced his new e-learning company for India, Worldspace Inc was formally struck off by the SEC.
“The time for filing a petition for review of the initial decision in this proceeding has expired. No such petition has been filed by WorldSpace, Inc., and the Commission has not chosen to review the decision on its own initiative,” said the SEC statement of May 28th.
It means that Worldspace’s SEC Registration as a tradable stock is revoked, and its Chapter 7 full bankruptcy effected.
Worldspace’s two satellites (Afristar and Asiastar) are both transmitting in an inclined orbit position. Afristar is working at 1.6 degrees inclination while Asiastar is at 0.5 degrees from its ideal 105.1 degrees East allocated position. Asiastar is the ‘younger’ of Worldspace’s two satellites being launched in March 2000, and with a 12-year ‘on station’ life expectancy.