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My February birthday fund-raising campaign for Behind the Black it now over. I sincerely and with deep gratitude thank all those who donated. Without your support I could not keep doing this, not so much because of the need for income to pay the bills, but because it tells me that there are people out there who want me to do this work. For those who did not contribute during the campaign, please consider adding your vote of support to Behind the Black, by giving either a one-time contribution or a regular subscription, in any one of the following ways:

 

1. Zelle: This is the only internet method that charges no fees. All you have to do is use the Zelle link at your internet bank and give my name and email address (zimmerman at nasw dot org). What you donate is what I get.

 

2. Donate through Gabpay, using my email address zimmerman @ nasw dot org.
 

3. Patreon: Go to my website there and pick one of five monthly subscription amounts, or by making a one-time donation.
 

4. A Paypal Donation:

4. A Paypal subscription:


5. Donate by check, payable to Robert Zimmerman and mailed to
 
Behind The Black
c/o Robert Zimmerman
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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.

Conscious Choice cover

Now available in hardback and paperback as well as ebook!

 

From the press release: In this ground-breaking new history of early America, historian Robert Zimmerman not only exposes the lie behind The New York Times 1619 Project that falsely claims slavery is central to the history of the United States, he also provides profound lessons about the nature of human societies, lessons important for Americans today as well as for all future settlers on Mars and elsewhere in space.

 
Conscious Choice: The origins of slavery in America and why it matters today and for our future in outer space, is a riveting page-turning story that documents how slavery slowly became pervasive in the southern British colonies of North America, colonies founded by a people and culture that not only did not allow slavery but in every way were hostile to the practice.  
Conscious Choice does more however. In telling the tragic history of the Virginia colony and the rise of slavery there, Zimmerman lays out the proper path for creating healthy societies in places like the Moon and Mars.

 

“Zimmerman’s ground-breaking history provides every future generation the basic framework for establishing new societies on other worlds. We would be wise to heed what he says.” —Robert Zubrin, founder of founder of the Mars Society.

 

All editions are available at Amazon, Barnes & Noble, and all book vendors, with the ebook priced at $5.99 before discount. The ebook can also be purchased direct from my ebook publisher, ebookit, in which case you don't support the big tech companies and I get a bigger cut much sooner.

 

Autographed printed copies are also available at discount directly from me (hardback $24.95; paperback $14.95; Shipping cost for either: $5.00). Just email me at zimmerman @ nasw dot org.

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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