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The time has come for my annual short Thanksgiving/Christmas fund drive for Behind The Black. I must do this every year in order to make sure I have earned enough money to pay my bills.

 

For this two-week campaign, I am offering a special deal to encourage donations. Donations of $200 will get a free autographed copy of the new paperback edition of Genesis: The Story of Apollo 8, while donations of $250 will get a free autographed copy of the new hardback edition. If you desire a copy, make sure you provide me your address with your donation.

 

As I noted in July, the support of my readers through the years has given me the freedom and ability to analyze objectively the ongoing renaissance in space, as well as the cultural changes -- for good or ill -- that are happening across America. Fourteen years ago I wrote that SLS and Orion were a bad ideas, a waste of money, would be years behind schedule, and better replaced by commercial private enterprise. Only now does it appear that Washington might finally recognize this reality.

 

In 2020 when the world panicked over COVID I wrote that the panic was unnecessary, that the virus was apparently simply a variation of the flu, that masks were not simply pointless but if worn incorrectly were a health threat, that the lockdowns were a disaster and did nothing to stop the spread of COVID. Only in the past year have some of our so-called experts in the health field have begun to recognize these facts.

 

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Virgin Orbit completes $37 million stock sale

It appears that Virgin Orbit has just completed a $37 million sale of new common stock, valued at $0.0001 per share, and equal to about 10% of the company.

Hat tip to stringer Jay, who writes, “To me, it is like V.O. is printing money. They have already lost most of the value of the original stock, they are losing about $20 million a quarter, and they just raised $37M.”

Virgin Orbit had planned in 2022 about eight launches. It completed two, and then got blocked by the UK bureaucracy, completing no more launches for the rest of year while it waited months for permits to launch from Cornwall. During that time it could not launch its other customers because it only had one 747 in its fleet to launch its rocket.

No launches means no income. To keep the company afloat Branson has had his larger company Virgin Group transfer first $25 million and then another $20 million to Virgin Orbit. This stock sale appears to be another effort to keep Virgin Orbit above water.

The endless and unexpected delays getting permits to launch from Cornwall now suggests that some people in the UK government might not like Branson, and took this opportunity to sabotage him. Pure speculation I know, but not beyond the realm of possibility.

Genesis cover

On Christmas Eve 1968 three Americans became the first humans to visit another world. What they did to celebrate was unexpected and profound, and will be remembered throughout all human history. Genesis: the Story of Apollo 8, Robert Zimmerman's classic history of humanity's first journey to another world, tells that story, and it is now available as both an ebook and an audiobook, both with a foreword by Valerie Anders and a new introduction by Robert Zimmerman.

 

The print edition can be purchased at Amazon. from any other book seller, or direct from my ebook publisher, ebookit. The ebook is available everywhere for $5.99 (before discount) at amazon, or direct from my ebook publisher, ebookit. If you buy it from ebookit you don't support the big tech companies and the author gets a bigger cut much sooner.


The audiobook is also available at all these vendors, and is also free with a 30-day trial membership to Audible.
 

"Not simply about one mission, [Genesis] is also the history of America's quest for the moon... Zimmerman has done a masterful job of tying disparate events together into a solid account of one of America's greatest human triumphs."--San Antonio Express-News

7 comments

  • wayne

    I’m puzzled by including the par value of $0.0001 per share? (Apple stock for example, has a par value $0.00001 per share.)
    Most every par value for stock is a nominal amount and does not relate to the eventual market-price.

  • Alton

    Check with your Local Tax Authority….

    When my Corporation was Launched in the 80s, we were going to issue stock at one dollar a share, just to keep the values straight & easy for the PARTNERS capital contributions.

    But the state (Virginia) taxed the transactions based on the number of stocks certificates issued,, thus each share was equal to several Thousand dollars to avoid the tax rate …thus saving thousands for each partner.

  • Col Beausabre

    ” suggests that some people in the UK government might not like Branson” Who does?

  • pzatchok

    How many 10 million dollar flights will this company have to make to break even?

    How many per year over the next 5 years?

    Essentially how much cash has been invested into this company and how much does it cost to construct and launch each rocket?

  • Max

    Branson “believes”
    Unfortunately those who work for him don’t… They’re just there for the paycheck.
    As with all evolving technologies, if you’re successful you will work yourself right out of a job. As a coworker used to say… “Save some for the grandkids”

    I saw a recent picture of Branson on top of a mountain in Africa in one of the Twitter postings (scrolling down) on this site. I hardly recognized him.

  • wayne

    Alton–
    For Michigan, you can issue up to 60K shares of stock for the $50 incorporation fee.
    60,001 to 1 million shares = $100.

  • pzatchok

    I just can not see anyone getting their money back out of this company unless the amount of flights really ramps up.
    Something like once a week at least.

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