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i also have the same problem.
i have a 12v 500mA power adapter. but the sim300 can afford a voltage of 3.9-4.2v(suggested by the manufacturer) so i used a 7805 followed by a 1N4148 diode. and regulated the voltage to aroun 4.2V.
but the sim300 is restarting and the initial messages are seen...
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