- Joined
- 27 May 2008
- Messages
- 1,179
- Reaction score
- 2,485
I just don’t get this;-
This is a hypersonic hydro-lox powered endo-atmospheric transport which has just funded at stage A to 29 million $.
techcrunch.com
The CEO is Mikhail Kokorich who just 8months ago was tied into an investor fraud dispute for the last company he started Momentus, a rocket start up.
qz.com
Looking at the SPAC ;-
How The Momentus SPAC Started
Stable Road Acquisition Corp., the SPAC that merged with Momentus, was formed in May 2019 with the idea to do a deal in the cannabis industry. As stated in their Prospectus, filed on 11/8/19:
“While our efforts to identify a target business may span many industries and regions worldwide, we intend to focus our search for prospects within the cannabis industry…”
The complaint was;-
“Internal company documents defined success as 100 thruster firings, each lasting at least one minute, but the thruster failed to perform even one firing of that duration, and only three of 23 produced any plasma. Momentus lost contact with the satellite three months into a six-month mission.” And “ While company executives, including Kokorich, were aware of the problems with the satellite, they did not disclose them either publicly or in discussions with Stable Road prior to their October 2020 merger announcement. ”
The claim was settled as follows;-
“ All the parties involved other than Kokorich agreed to settle the SEC’s charges. Momentus will pay a $7 million fine, while Stable Road will pay a $1 million fine and Kabot a $40,000 fine.”
So who on this planet gives the guy another 29million$ for his next company ?
This is a hypersonic hydro-lox powered endo-atmospheric transport which has just funded at stage A to 29 million $.

Destinus plans to fly a hydrogen-powered, hypersonic cargo craft with $29M seed round | TechCrunch
A new venture from space infrastructure company Momentus founder and former CEO Mikhail Kokorich aims to build a hypersonic aircraft for autonomous cargo

The CEO is Mikhail Kokorich who just 8months ago was tied into an investor fraud dispute for the last company he started Momentus, a rocket start up.

A space company CEO accused of fraud is fighting to clear his name
The first interview with Kokorich about the charges and his new space company in Switzerland

Looking at the SPAC ;-
How The Momentus SPAC Started
Stable Road Acquisition Corp., the SPAC that merged with Momentus, was formed in May 2019 with the idea to do a deal in the cannabis industry. As stated in their Prospectus, filed on 11/8/19:
“While our efforts to identify a target business may span many industries and regions worldwide, we intend to focus our search for prospects within the cannabis industry…”
The complaint was;-
“Internal company documents defined success as 100 thruster firings, each lasting at least one minute, but the thruster failed to perform even one firing of that duration, and only three of 23 produced any plasma. Momentus lost contact with the satellite three months into a six-month mission.” And “ While company executives, including Kokorich, were aware of the problems with the satellite, they did not disclose them either publicly or in discussions with Stable Road prior to their October 2020 merger announcement. ”
The claim was settled as follows;-
“ All the parties involved other than Kokorich agreed to settle the SEC’s charges. Momentus will pay a $7 million fine, while Stable Road will pay a $1 million fine and Kabot a $40,000 fine.”
So who on this planet gives the guy another 29million$ for his next company ?