XCOR bankruptcy leaves behind $27.5 million in debt
Capitalism in space: XCOR’s bankruptcy has revealed that the company owed $27.5 million to creditors, the largest of which are government agencies that gave the company money in the hope its operations would bring business to their regions.
Space Florida is the largest secured credit at $3.6 million. The state-run agency’s has a “blanket security interest in personal property.” XCOR had made a deal to manufacture and operate its Lynx suborbital space plane from Florida.
XCOR estimates it spent $25 to $30 million developing the unfinished Lynx. An additional $15 to $20 million would be required to complete the vehicle, according to the documents.
Midland Development Corporation (MDC) has $10 million in unsecured claims. The funding was provided to XCOR to move from its base in Mojave, Calif., to the West Texas city, a process the company did not complete before it filed for bankruptcy earlier this month.
In addition, a private spacesuit company, Orbital Outfitters, appears to have gone of business in connection with this bankruptcy.
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
Capitalism in space: XCOR’s bankruptcy has revealed that the company owed $27.5 million to creditors, the largest of which are government agencies that gave the company money in the hope its operations would bring business to their regions.
Space Florida is the largest secured credit at $3.6 million. The state-run agency’s has a “blanket security interest in personal property.” XCOR had made a deal to manufacture and operate its Lynx suborbital space plane from Florida.
XCOR estimates it spent $25 to $30 million developing the unfinished Lynx. An additional $15 to $20 million would be required to complete the vehicle, according to the documents.
Midland Development Corporation (MDC) has $10 million in unsecured claims. The funding was provided to XCOR to move from its base in Mojave, Calif., to the West Texas city, a process the company did not complete before it filed for bankruptcy earlier this month.
In addition, a private spacesuit company, Orbital Outfitters, appears to have gone of business in connection with this bankruptcy.
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
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