First let me say I already have one of the transverters from Ukraine for 2m and have no problems in either TX or RX with my FLEX 6300. Have had it for about 6 months. Just received a brand new, waited for 6 months, DEMI L432-28 70cm transverter. And, I have no RX signal and no indication of TX signal. The panadapter is showing nothing with a very faint reading below -120. However, the rig does key up when I go into TX and I am getting about 15 watts out on the meter but no indication of modulation on the panadapter. I have set up the DEMI with a RF Freq of 440.000, which it was customized to do, a Max Power of 0.0 dbm, also customized for that power rating, and a RX Gain of 20.0db. I have tried increasing the RX gain to 40.0db with no effect. I must be doing something wrong which is very simple. I use the same dual band vertical for the 2m Ukraine transverter with pretty good results. What am I missing?