Space company Masten files for bankruptcy after struggle with NASA moon contract [CNBC]
CLPS Incorporation (CLPS)
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Source: CNBC
The company's bankruptcy showcases the delicate balancing act required for long-term growth and success in the harsh, capital-intensive space industry. Masten won a $75 million NASA contract to deliver payloads to the moon's south pole, but the project ran far over budget and hit Covid pandemic-related obstacles. Lunar-focused company Masten Space Systems filed for Chapter 11 bankruptcy protection on Thursday, with the venture winnowed down to a handful of people after layoffs and furloughs. The space company declared as its debts ballooned, tracing back to a NASA contract awarded to Masten two years ago. Once seen as a major win for the small business, the NASA deal left Masten over budget, as well as unable to raise funds or pay employees. Masten predates many of the companies that came up during the past decade's boom of private investment in the space sector . The company long had a reputation in the industry as a gritty shop for young engineers to cut their teeth on rock
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- Intuitive Machines says Odysseus has ‘permanently faded' on the moon, but is planning another mission this year [MarketWatch]MarketWatch
- Intuitive Machines Reports Fourth Quarter and Full Year 2023 Financial Results [Yahoo! Finance]Yahoo! Finance
- A Look At The Intrinsic Value Of CLPS Incorporation (NASDAQ:CLPS) [Yahoo! Finance]Yahoo! Finance
- CLPS Incorporation Reports Financial Results for the First Half of Fiscal Year 2024 [Yahoo! Finance]Yahoo! Finance
- CLPS Incorporation Reports Financial Results for the First Half of Fiscal Year 2024PR Newswire
CLPS
Sec Filings
- 4/8/24 - Form 20-F/A
- 3/5/24 - Form 6-K
- CLPS's page on the SEC website