Morning, everybody. My name is Simon Tucker. I'm CEO of SRT, on this gray morning. Hopefully, the summer will be coming soon. So for those of you who've not perhaps seen one of these before, I'll give you some background to this. The idea really is to give you some insight into what's really happening within the business operationally, perhaps discuss a little bit more about our trading statement, put a bit more color around that, but certainly no personal news beyond what we've already announced, so that would make everybody insider. So, if you've got questions, please ask them. I will address them. At the end, I will try and address every single question. I've always got to balance, and I know some of you find this irritating, our customer confidentiality.
I'm constantly trying to do what's right for the business, what's right for our customers, what's right for our shareholders, and really, the decision sits with me, so if I upset anybody about that, then, I apologize for that, but, we're doing the best that we possibly can. So I'm CEO of the company, and therefore I'm responsible for running the company, and the scorecard on that is the long-term share price. So, you know, I take full responsibility for the ups and downs of the share price. We've seen some short-term reactions recently to some short-term events, for which I apologize for, and I wish it was different. But I believe it's one of those times where, as is often the case, perhaps the share price is not reflective of actually where the business is.
But nevertheless, I'm not shirking responsibility for that. I'm the CEO, and I need to take responsibility for that. So ours is a long-term strategy. We're seeking to be a dominant, if not the dominant player, in a new market that is forming, which is the digital maritime domain awareness market. And to do that, we have had to develop some pretty complex, technologies, and from that, sophisticated products. In parallel with that, the market is developing, different areas of the market adopt at a different pace. But we have the advantage now today of having that nearly decade of accumulated experience, technologies, and products, which gets us to the place where we are today, where we can talk about $180 million contracts, $200 million contracts, transceivers business doing millions of GBP a year of business.
This is not something that happens overnight. It takes, it takes a lot of time, and now we are the dominant player in this market, and we believe very strongly, as do the 120+ people that are working in SRT, that have committed their careers and their lives to the company. Also, our shareholders that committed their cash, and long-term patience to the company, and our customers, who are committing their safety and their national security to the systems that we're supplying. And so we've taken that long-term decision to get us to where we are today, where, we're just about, really sort of starting to, to take off, although some of you may not, may not, feel that. Of course, what comes with that is the challenge of how to communicate that to everybody.
Again, this is something that sits with me. I get a lot of advice. I read the boards. I get advice from our brokers, our lawyers, shareholders, media people, all sorts of stuff, and it's on different spectrums. Some of it is, "Don't say anything to anybody until it's absolutely certain," managing that information flow, and on the other extreme is, "Tell everybody everything." Neither is right, in my opinion, and I can't please all the people all the time. My judgment is that, as shareholders, you want to know what you've invested in, what we're doing, and that is why I step forward and give these webcasts. We give detailed trading updates. We talk about forward contracts that are coming.
But what comes with that as well is the requirement to then try and predict what a government will do and how long that will take, and we get that wrong. Either it's too late or too soon, but we get that wrong. But I would rather communicate with you about what is coming, about the fact that we perhaps have a substantial new Middle East contract, for example, some point this year. But that government in question might decide to do that in two months, or they might decide to do it in 12 months. And they will do that independently of us. They have their processes. But I do prefer to communicate openly about that, rather than there just to be a black hole of information and wait till it's absolutely done.
What comes with that sometimes is things are delayed from an expectation. Unfortunately, that comes with the flak that we've had in the last few weeks. But I will continue to do that 'cause I think it is the right thing to do, and on balance, people seem to like to have the information. What I would also say is everything that I say here has to be checked with our lawyers and our Nomad as being factual, and even them, sometimes they're saying, "Well, you know, do you really need to say that to people, Simon?" And my view is, if you've invested in the company or thinking about investing in the company, you should know what you're getting into or what you're in. So enough of all of that, let's talk about the business.
So we have two divisions. We have a systems division, and we have a transceivers division. There's a little bit of crossover, and then sometimes our systems division will also buy transponders or use transponders from our transceivers division to include in the systems projects, but not every systems project has transceivers. The systems business is where the primary product is our maritime domain awareness system, which basically integrates lots of different sensors from all over the place, sticks it onto a screen, combines that with AI analytics, and will spot different events that are going on and give the authority in question that's operating that system the ability to do something about it. So if you will, it's air traffic control, but for the marine domain on a national scale.
It's not a new thing to do things in ports or on a boat, but actually to do that on a national scale with a national registry—national vessel registration, perhaps 300,000 vessels from a small artisanal fishing boat to a big international cargo boat, is new. This is what doesn't exist, and this is what we took the decision to develop 10 years ago. So we have a number of systems that are under our belt, where we've delivered, and are continuing to grow. And the way we see our systems business is that when you get a customer, a country, they have decided to build a digital maritime domain awareness system for the country, and they're gonna build a platform. And the first project is just the first step on doing that.
And typically, what happens is they establish their core monitoring system, and then they start to bolt on additional capability. And then what we're now seeing is they're talking about connecting into different agencies. The message I'm saying here is that each time we get a customer, it's really an account, and they want a bit like a business. If you take on SAP or something like that as a business operating system, you're gonna build up over time that capability. Your organization is going from analog to digital. It is exactly the same with our customers. So we have an ongoing project today with BFAR in the Philippines. They have implemented a very sophisticated national fisheries monitoring system.
It's a tool for them to use, where they can input whatever regulations that they want on fisheries and enable them to manage that digitally, very efficiently and very effectively. From the smallest boat to the largest boat, a single system. So true modern thinking in terms of leveraging analytics and data within a single system. And they have that tool now, we're nearly there, nearly completed that, all but a few bits of installation, which we should complete in the coming months. And then we expect that to continue to expand, as I've explained. We have a new contract that we signed last year in Southeast Asia with a coast guard. We have the project agreement, and that is being financed by a loan agreement between the U.K. government and their government.
Now, at the time, as I said in the recent trading update, we'd never done that before, but it's not an unusual occurrence. These, what are called, export credit arrangements, are done billions and billions of GBP every year. We were told it would take six to nine months to complete, hence our guidance. The reality is, that's taken quite a bit longer, three or four months. When I say quite a bit longer, when I actually get an update from the people that are involved in that, I'm told that actually that's, you know, not that much longer, so calm down. But the reality is, it took longer than we expected, but it does seem to be, and I'm advised, in its final throes of being completed.
It's a big document between two governments. There's lots of different departments involved in all the governments. The reality is, you know, governments don't move quickly, and take every holiday that's available to them. But, we are—it's a sure thing, not an if. And so, I think that, based on the guidance we've had in the last few weeks, that we're not far, or they are not far from concluding that loan agreement. And that loan agreement is between the U.K. and that government, specifically for this project, and then that allows our end customer to pay us for that, for the project. We draw down from the bank, not from the customer, and then the... If you can imagine the amounts they've drawn down on, they repay over 10 years.
A very common arrangement, and you know, my observation with this is learning process, it will take about a year or so for these things to go through. And it's a complex process with all the checks and balances and lawyers and whatnot, that's involved in it. We are a passenger to that. What we have done is use that time very well to do all the planning, the procurement planning, site surveys, environment and social, sustainability studies that we have to do for the U.K. side of things and what have you. So an awful lot of proprietary work has been done, so we're ready to go.
So when that loan agreement does come out in the not-too-distant future, and I can hear some of you thinking, "What do you think?" Well, you know, the timescales that I'm told by the bankers that are involved in it is one to two months. So, read that as two months, so sometime in July. So, once that does start, we will immediately do the first two milestones, which are some site design sign-offs and the delivery of equipment that we have ready to go. And that then triggers an invoice, which we then get paid by the loan agreement. So all very simple.
The customer in question starts to build a, you know, international standard for the first time ever, a proper digital maritime surveillance and intelligence system that they can use to improve security and safety of their very large marine domain. We then have an existing customer in the Middle East, a very large coast guard, where we signed a contract with them, GBP 40 million. We've done phase one, successfully done. Everybody's very happy. That's now in the support phase. Then we were going to be doing phase two, or we are doing phase two this year, and we were due to start that earlier this year. But what actually happened was, the customer wanted to change the scope of the project. So what do we mean by that?
They wanted to increase the number of coast stations, reduce the number of transceivers, then the other way. And we went through a number of different permutations with the customer, and each time they do that, they need to go to their ministries for various approvals and things. So this sort of roundabout, going around with all their departments internally, again, with them, you know, the minor changes and stuff, it, you know, it took longer than we, than we expected. In the end, it's up to them, within the terms of the contract, to do that. But that is now finalized. That was finalized a few weeks ago, and we are now just waiting for, t hey have a special code that they need to get internally, after which finalizes all the contractual documents, which are already done.
And we expect that, probably, shortly after the Eid, too, which starts next week. Following on from that phase two, and that will happen quite quickly this year. And we also then expect phase three, which is now set as well. The scope is set. There isn't a variation of the scope, 'cause obviously, there's three phases, phases one, phases two, and by default, phase three is the delta between phase one, phase two, and the total thing. We'll start end of this year. So, again, a little bit of a delay, down to these governments taking this very seriously. And, you know, there isn't just one guy that decides these things.
There was, I was in a meeting the other day in that particular country, I had 25 people in the meeting from different departments. You know, these are serious systems that are on which they're running their maritime safety and security. And then on to new stuff that is coming. So staying in the Middle East region, there are two new contracts that we see coming up. One is with an old existing customer that's very dear to us, and we believe that now has all its internal approvals, and the documentation is now being prepared. And so that should. This is the smaller of the two, worth about $9 million.
There is a second one, which is $200 million, in another country, and there have been some recent changes there, and they really want to crack on, it appears, with their surveillance system. We actually have people there, at the moment, doing some site surveys in order to finalize the proposal, and that suddenly seems to have leapt forward. Now, I'm not gonna repeat the timescales that I was told the other week when we were there, but that seems to be they really want to get on with it. But I, I, I think in reality, this probably will start to crystallize towards, w ell, not, well, not start to, will crystallize towards the end of this, this year. Big project, a couple of years to implement once that's signed.
But the fundamental, it's not an if, it's a when. As a fundamental driver, they really don't have a, any, modern maritime surveillance at the moment, with integrated, you know, command and control, all that sort of stuff. And we're really the only game in town that can provide that, and also we're trusted in the region, having been there for 10 years, with all the references and things that we have. So we're pretty excited about that coming up. Going back to Southeast Asia, we have two other Coast Guard customers, that we, we see projects coming from. One, we think there will be, instead of one, there'll be now two, projects, at some point between now and the end of the year, for them to then start their first build-up of a, of a maritime domain awareness system.
And then another one in another Southeast Asia country nearby, where they don't really have anything. They have a very fragmented system, and now what they want to do is to bring that together as a, as an integrated system, as we offer, and for us to integrate all of that, upgrade all their sensor systems, bring all that together, so they have a proper integrated system. They've indicated, you know, they want to be tendering for this within a year. So that means they're going through the usual process of looking into the market, getting presentations from lots of people.
We think we're the only people that turn up with a real system, where you can actually do real demos, and we can really point them to customers that are happy with it, as opposed to just a fancy presentation. And we feel, again, we're in good stead there because of our references. My feeling is we will see that next year, not this year. There's quite a way to go with that. We're consulting with them to really figure out how much they want to spend, what they want, what budget availability they want to get, applying for that budget. They need to get the money from their national budgets, the normal thing.
And the other one that is, that is really, that we're working on and focusing time on, is in Africa. They've made their strategic decision that they want, need, and want to have a integrated maritime surveillance system, and they're looking at, implementing that. They're indicating a timescale to start this year. I personally think it's more likely next year. Again, it is a big, complex project. It involves some lakes as well as the sea, but fundamentally, they want to integrate, again, digitize their marine domain, rather like with their traffic control, but also in the marine domain. So a lot going on, and then there's other inquiries that, have come in, that we know of, where we provide them with information, but then, you know, we're not spending too much time on that.
Experience has taught us that actually, they're a little bit further down the line or away from actually making that clear decision of when they want to do it and how they're going to do it. It's more an exploratory phase. Most countries really want to ultimately have these things, and then build that up, but they need to make that strategic decision. They need to consider how they're gonna do it, which agency's gonna own it, these sorts of things. Staying with the systems business, on the development side, of course, we continue to develop the product, which is our integrated surveillance system, and the secret sauce in that is our software, which is GeoVS. And we now have four pillars to that.
So you have GeoVS Hub, which is the, if you will, the underpinning network, which gets all the data to where it needs to be. Really complicated to actually move, you know, loads of optical cameras and radar and AIS and RF information all across an extended network with variable connectivity. Very hard to do. So GeoVS Hub. You then have GeoVS Console, which is the software that sits on the console, that plugs into the hub and actually gives you the tools and the display. We have GeoVS Connect, which is a series of applications that sits on mobile devices, tablets, and phones.
What that does is enable people in the field that are out on boats and what have you, to receive action command messages and things from the operators sitting in maybe 20 different command posts, maybe 200 different operators with different actions and things, so the whole thing is coordinated. We have GeoVS Portal, because increasingly, what happens is you'll have people, the core agency wants to share information amongst all their other agencies. That might be a national oversight, national security agency, it might be a coast guard with a fisheries or a fishery, fisheries with a coast guard or with a port authority or with an NGO somewhere. So you need to have that ability to safely share that information, and aggregate that information and what have you.
So these four pillars now are being developed as a product. We're on release 13. For those of you that have been around for a while, in 2015, we were on release two. So we're now talking about a very sophisticated system which encompasses data management, networking, security, AI analytics, augmented reality visualization, action management processes, a whole range of different functionalities that sits within this very complex, sophisticated product that we can deliver to these countries that want to have that capability. And that's just coming back to my starting point, is to...
You know, we took a decision 10 years ago, strategic decision, to enter this market on the basis that we saw that countries would want to have digital maritime domain awareness systems, and therefore, we have needed actually that time for the market to develop and for us to develop this technology and products. It's not just an app for that, which takes 6 months. It's not just a website. These are professional. It's like NATS for National Air Traffic Services. It's the equivalent, but for the maritime domain awareness. And these countries, our customers, want to have secure, reliable systems that they can really rely upon for their maritime domain awareness, and it does take that time to have the product, to be able to go to a country to win these projects, which we are now doing.
I'm, you know, immensely proud of that, as are the 120-odd people that devote their lives and careers to SRT, doing that, for us, and I thank them for that. So on to our transceivers business. Our transceivers business, we develop, as, as it suggests, black boxes that communicate voice and data in the marine sphere. We started off with AIS. We were first people to develop an AIS transponder, long before anybody sort of thought it would be mandated, more widely. And today, AIS is, is really the sort of the underpinning of the digital communications in the, in the marine world. We target, we have two different markets. We have boats, and we have infrastructure.
So in our boat market, we reach that market through our em-trak division and through our OEM and module division. So in our OEM and module, we will supply a lot of the existing brands who want to have an AIS transponder, but it's too complex to actually have the technology themselves or they're busy doing other bits of technology. You know, people can't do everything, and so they come to us, and they have a Pot Noodle solution. If you, as the consumer, were buying one in the local chandlery, you wouldn't know it came from SRT. You would just see the brand. And that business is growing nicely, and we have over 4,500 dealers and distributors worldwide. We provide the full range of AIS devices.
We are renowned for our quality, both as the product, the technology, and the service that we provide, being reliable, and that grows as the market adopts. Obviously, we hope for better weather, so the summer arrives soon, so people can go boating. Our em-trak division is where we sell directly to dealers and distributors, as opposed to an OEM, who then go to dealers and distributors, and that is really the retrofit market. So people, you know, aren't buying a new boat and buy everything from a particular brand, let's say Raymarine or Garmin or somebody, but they will then start to buy in the retro market, and that's where they're buying an em-trak product.
We've been growing ourselves, our em-trak business very, very well and very happy, happy with that. What's coming up to drive that is a product called Nexus, and what Nexus does is take us, if you're, if you're not a boat person, in the boat world, you don't use your mobile phone to call the other boat. You use what's called VHF radio. VHF DSC radio is a little bit like an old style, you know, Smokey and the Bandit CB-type thing. Well, that also struck us as a bit, you know, archaic. And so we came up with an idea with Nexus to integrate AIS and VHF communications into a single box, but have a communications link so that your mobile phone can be your walkie-talkie, your command mic.
'Cause your mobile phone is now increasingly being used for navigation, put navigation apps onto it, and you can stream the data wirelessly to that. What that means is you don't have to sit next to the wheel driving your boat the whole time listening to the radio, and the radio is a critical safety thing in the marine world. Now, you can go and sit on the front and have your glass of rosé, or you can rush to the front to try to tie the thing up with your phone in the back pocket, but you're still able to communicate with VHF radio. This is a real innovation.
On top of that, you can also then connect all the kids' smart watches and phones and things, and if somebody falls overboard, you'll get a man overboard alert, along with the direction as to where they are. So immediately, wherever you are on the boat, you will get an alert to be able to see that. There's lots of other functionality, like you can do a private intercom, so if you're in a big yacht and you don't wanna disturb the guests, you can create a group from your crew, and you can all talk amongst that through Nexus privately without disturbing everybody. We think this is a super, super innovative product that brings a new level of convenience to boating. So it's been a long, hard road to develop this complicated product. It's now in pre-production.
It is now, w e have pre-production units out in the field being used by the trickiest of our dealers who have boats. We don't care what they say, and if they don't like the feel of the button or the rubber or bit of functionality, you get the feedback straight back. That's what we want. And we are planning to slowly start commercial shipping in the autumn. We've already built up, for the first time ever, a pre-order book that we'll deliver against, but we'll do that steadily, getting some market feedback, refining the product as it goes. But we're very pleased where we are, and we're being very cautious about entering this much bigger market segment because it's combining AIS and voice into a single box.
You've already obviously, there was one question earlier about when will we start to see some marketing. Well, we soft launched it in November last year at METS. You've got to remember, we don't really need to do much marketing because we've got 4,500 dealers, so we just send an email. This is quite the power of that 10 years of accumulated, you know, work in this, in, in this market. So we don't intend to spend real money on display adverts and all this sort of stuff in magazines and things. The best people to talk to are the dealers. The dealers want to sell to their customers.
The customers come in to talk about all sorts of stuff, and they will then are the best people to train up and then talk about Nexus. We've proven this time and time and time again. We had a very good reaction in November last year at METS in Amsterdam, and so this is the way that we're that we're that we're doing it. That obviously means you don't have to spend a huge amount on on marketing. The other part of our transceivers business is DAS. This is around infrastructure and buoys, and really is linked to autonomous shipping.
So we saw, you know, the ship go into the bridge the other day in the States, although I have to say that that really wouldn't have helped having an AIS AtoN because they lost propulsion, and there's not much you can do when you lose your engine. So that's a very unfortunate thing. But they do have thousands of other bridges, and for example, they don't know if you're coming up to that bridge, whether you can fit under it or not. But if you fit a DAS, it will tell you the actual gap between the water and the bottom of the bridge, and obviously, that varies because of tide. Equally, perhaps in the EU, inland waterways, you have locks and things, and is the lock open, is it closed?
So that business started nearly about eight years ago, when we produced the world's first AIS AtoN, and we just sold the transponder. Our innovation in DAS, which started three years ago, was to create kits to make it easy for a port authority or a waterway authority to buy, let's say, a lantern monitoring kit, 'cause that's actually what they want to do. They don't want to necessarily buy an AIS AtoN. They want to monitor the lantern on the buoy or the position of the buoy or the status of lock, and create a kit and sell that to them. The result of that has been the revenue's doubled in DAS. It's extremely high margin. We now have a sales pipeline, not order book, pipeline.
The largest one that we're working on at the moment alone is GBP 2.5 million in the Middle East. And really, again, we're building on our success, which we established over a number of years on our core product, and the core technology inside that. What makes it different, it's very small, it has a huge amount of functionality and performance, but the power consumption, which of course is important, if you think about it, it's on a buoy in the middle of the water, having to use a small solar panel, is about 80% less than anything that was in the market at the time.
So that's an example of where unseen technology and clever people down in Somerset, in the development of the hardware and the software, produce a product that actually creates a massive difference to the end users in the market. So, the business really, hopefully you get the feeling, is not reflective of the share price. We have our short-term ups and downs. The scorecard is the long-term share price. We have a lot of business coming. Yes, we get it wrong. I get it wrong on guiding you on the timescales, but I do my best, and will continue to do that. And I will continue to get that wrong at times, and hopefully I'll get it right at times as well. And so, hopefully, you see that you're in a business where we have a lot of opportunity.
Our customers really value our products and increasingly do so. The market is also developing for that, which is what we set out to target nearly 10 years ago. So I'm gonna have a look at some of these questions that have been sent to me, and I'm just gonna go through those one by one. I'll put it on the screen here. I will try and answer as many of those as I can. So yes, of course, we will. When the contracts start, we will RNS them. They're a material event. So yep, we will do that, as well as when we start the shipping. I think I've discussed the approximate timescales for the two Coast Guard Asian contracts, also with Nexus.
There's an interesting question here, I think, "To the delayed contracts, is there any, any estimate of the holding cost?" Well, our business model. That's a good question. Our business model is we have a fixed overhead. It's not that we custom overhead for those particular projects. So we have a delivery team. Our model is, we have a delivery team, which comprises of a project manager and a success manager per project. So I suppose you could argue that they are specific to a particular project, and if something is, is delayed six months, then you have the cost of those two people. But the rest of those people are supporting all the other projects. So it's not that we have a cadre of people just sitting there waiting, for one particular customer.
So, it's not as sort of as cut and dried as that. Let me just see what else we have here. Just going through these, if you don't mind. "Why the radio silence between trading update and the seventh of June when the markets are awash with stories?" "Well, the market is always awash with stories, and it's often, you know, baseless, and I don't think it's beholden upon us to correct everything all the time. I think coming back to—and that, you know, people won't necessarily agree with that.
We wanted to wait until we were sure about what may or may not happen, and therefore, we were not—we needed to wait until we actually had that feedback from the particular discussions that were ongoing in Southeast Asia and in the Middle East, and then make a judgment on that, rather than give that running commentary the whole time, 'cause where does that ever stop? So I—I understand the angst of some, but I think we got the balance right, and the minute we were certain about the situation, we came out and explained.
Our new investor from December is extremely supportive, and we're working with them on some of the projects, actually, where some of their robotic and autonomous vessels will come into play, as well as some of their survey stuff. So all very good. They're great, calm people, you know, proper business people with a long, shared long-term view of this, the scale of the market that we're all in. Thank you for that one. I'm gonna probably skip that one. "Please explain the financing for these contracts. Is it for SRT or the customer?" So, these contracts, the customer doesn't finance anything. So governments don't do that these days. You get paid when you deliver.
The good thing about our projects is that they are very software-heavy, and the first thing that the customer wants is the monitoring center. They want their monitoring center, and they want their data center. That is very software-heavy, which is obviously has a lower cost for us to deliver. So actually, the upfront financing is pretty minimal, and for the two that we have that we've talked about that are pending, one in the Middle East and one in Southeast Asia, we've bought and paid for. We bought the equipment. We have a deal with Dell, where we get our equipment, which enables us to finance that as well. So actually, from a cash standpoint, we now have that very well under control.
So about the Southeast Asia intergovernment loan, the bank has a very strong track record of arranging this. This is actually, for that particular country, one of seven that are in progress at the moment, and we are the lead. We are the sort of the keystone to the others. We have day-to-day contact is our CFO with both UKEF and the bank. I'm really not saying the name of the bank, 'cause I'm just not sure whether I'm allowed to say that or not, but it's a big one of the big world's biggest international banks. These guys know what they're doing. This is done all the time. It's just slow, and that's the reality of governments.
Whatever the election people are telling you at the moment, you know, they're not efficient, and that's the way it is. But, you know, these facilities exist, and they're great for business. And our CFO, it's new to us, doing this. You know, 10 years ago, the systems business was new to us. Doing these sorts of things is new to us, but we take advice. We've hired people to help us with this, and so, we're on top of it. And actually, we have no part to play in this. It is a process that the U.K. and these countries follow. I think the U.K. does something like GBP 10 billion of overseas development aid every single year, so this is not a new thing.
What else have we got here? Yeah, the validated sales pipeline is still there. I haven't spoken to you about some of the bigger fisheries things in Southeast Asia because I prefer to, y ou know, there's one there where they have a nominal budget of $500 million to spend over the next 10 years, and their fisheries going from zero to having a national fisheries monitoring system. So that scale of that market is still there. I've just chosen not to talk about all of that because I think the mood is really about talking about the near-term projects, the near-term contracts, over the next, you know, one to two months and over the next six to 12 months.
So that's why I've really not discussed that too much, but that hasn't gone anywhere, and that continues to move. Well, that's a great question. Can the system be used to identify illegal immigration and dinghies and stuff? Sure. I mean, the system will- If you installed it along the channel, it would identify, it would track all the boats, all the people going out for a picnic in the Solent, as well as dinghies coming over from the channel. I think that in Europe, really, we've not had the jeopardy, this is just my personal view, had the maritime security jeopardy until now. Perhaps if somebody had announced that they were gonna do that 10 years ago, they'd have been told they were an idiot, but it would take five years to implement it.
So now that the problem's here, we're now talking about that. But I'm not convinced that on a such a narrow stretch of water, the English Channel, that identifying them, these dinghies are moving at 20 knots. You know, from the spot point that you spot it to the point them being in U.K. territorial waters is about 15 minutes, so you're still just gonna pick them up. So I do think, you know, it would be useful for us to have that system, but I think it's perhaps it's, you know, it's not gonna stop that, if you will. So security of our systems is a key thing. That's why we don't talk about, you know, web platforms and cloud hosting and all this sort of stuff, and delivering of services.
Our systems are delivered to the country as a sovereign system. We look at these as sovereign partnerships. It's their data stored in their countries under their control to do what they want to do with it, and that's an important part of our proposition. And what comes with that is system security as well. So I think I've answered everybody's questions. Hopefully, people feel a little bit better having heard a little bit more, and can see that we're busy as hell down in Somerset and Cardiff and around the world. Today, we've got people in the Philippines, all across Southeast Asia and Indonesia, all across the Middle East, in different countries. So we're working hard.
I'd like to thank our very supportive shareholders, and particularly our staff, you know, who some arrive at work at 5:00 A.M., are working long hours, progressing our now pretty sophisticated technology and vast systems that we're delivering and monitoring these in different countries and things, and delivering them in different countries to challenging customers who have, you know, real maritime security and environmental issues, that they're using these tools to manage and improve the marine domain. So, all exciting stuff. If you've got any follow-up questions, email me or any of the other directors of the company. It's very easy. It's our first name dot surname SRT-marine.com, and you will get a reply. So thank you very much, and we'll be in touch soon. Bye-bye!