I am a psuedo-positive long!
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Final preparations: From Space News Feb 2, 2024
https://spacenews.com/final-preparations-underway-for-launch-of-first-intuitive-machines-lunar-lander/
Press kit just released. This details the IM-1 mission. Here you can see the payload they will be taking to the moon and the purpose of these items. Interesting to see the NASA payload and the private commercial payloads.
https://www.intuitivemachines.com/_files/ugd/7c27f7_503d6cc812be4a8db6419c2a3a22e319.pdf
Interesting story on space exploration. For those out there that may be wondering "what's so important about getting on the moon and how can space be monetized?"
Launch delayed from FEB 09 to Feb 14th
I believe the delay is due to the fact that they want to land during a full moon. The full moon starts on the 23rd. Leaving on the 14th and taking seven days to get there, they optimize solar power which is needed after they nail the landing.
The full moon will last 5-6 days
Launch has been delayed from a launch on February 9th to no earlier than February 14th. Patience, patience, patience. This launch is very important, trust that they know what is best. I am focused on a successful launch and a successful landing.
From what I can make of the recent offering:
An investor who already owned Class B warrants was allowed to exercise 4.7mil shares of these warrants for a price of $2.75. The original exercise price was $4.75. The investor exchanged class B warrants they owned for $2.75 for a net of $11.8mil. This increased (diluted) our share count by 4.7mil shares and gave Intuitive Machines $11.8mil. Basically trading warrants today at a lower price for the ability to exchange for a higher price ($4.75). It gave them 4.7mil shares at $2.75 per share.
I am not an expert on SEC filings but i have studied this filing up and down. It doesn't look like that bad of a deal for shareholders. A little more dilution but $11.8mil in LUNR coffers. If anyone has a different opinion or can clarify this filing more for me, please comment
From Astrobotics:
"Unfortunately, it appears the failure within the propulsion system is causing a critical loss of propellant."
They have failed in their mission to land on the moon. LUNR is up next and scheduled to launch mid February
From the Baltimore Sun, January 4, 2024:
Despite its later start, Intuitive Machines has a faster, more direct shot and should land within a week of liftoff. It will take Astrobotic two weeks just to get to the moon and another month in lunar orbit, before a landing is attempted on Feb. 23.
Intuitive Machines’ six-legged, 14-foot-tall (4-meter-tall) lander, Nova-C, will target the moon’s south polar region, also carrying five experiments for NASA that will last about two weeks. The company is targeting 80 degrees south latitude for touchdown. That would be well within Antarctica on Earth, Altemus noted, and 10 degrees closer to the pole than India landed last summer.
Intuitive Machines will return there on its second mission, delivering an ice drill for NASA.
Follow the count down to Nova-C IM1 launch here:
https://www.spacelaunchschedule.com/launch/falcon-9-block-5-nova-c-im-1/
News released Dec 26. CFO Erik Sallee stepping down
Effective January 2, 2024, Peter McGrath will assume the position of Senior Vice President and Chief Operating Officer. In his new role, Mr. McGrath will focus on the daily operations of the business and focus on executing the long-term vision and strategy of the Company. Mr. McGrath has over 34 years of aerospace project and program management, capture management, and business development experience. Prior to joining Intuitive Machines in August 2020, Mr. McGrath worked at Boeing as the Director of the Global Sales and Marketing organization in the Space Exploration Business Unit, responsible for shaping, extending, and capturing business in support of NASA and commercial space exploration missions. Mr. McGrath currently serves as the Vice President of Business Development for Intuitive Machines and is responsible for expanding future business opportunities and growing the business. Mr. Altemus indicated, “The Board is pleased to promote Pete into this new role to ensure we have the correct focus on our long-term vision.”
Erik Sallee is departing as our Chief Financial Officer for personal and family reasons and to pursue other business opportunities, effective January 26, 2024. Steven Vontur will serve as our Interim Chief Financial Officer during this transition. Mr. Vontur is currently the Principal Accounting Officer for Intuitive Machines. Mr. Vontur joined the Company in July 2022 as our Corporate Controller and has played a key role in taking the Company public and building out the accounting and finance team in partnership with Mr. Sallee. Mr. Vontur has a wide range of financial and accounting expertise. As the Corporate Controller, Mr. Vontur is responsible for all aspects of accounting, reporting and financial controls of the Company including the periodic financial close process, SEC reporting, treasury operations and tax affairs of the Company. Prior to serving as the Controller of the Company, Mr. Vontur was the Senior Director of Corporate Accounting at Shimmick, Inc. from 2021 to 2022 and a project Consultant at Resources Connection, Inc. from 2020 to 2021. Mr. Vontur worked at KBR, Inc., in various positions from 2004 through his departure, with his last position as Director of Finance- SEC Reporting, Consolidations and Financial Controls. Mr. Vontur spent the first part of his career as an Audit Senior Manager with major accounting firm Ernst & Young LLP. Mr. Vontur holds a Bachelor of Science in Accounting from Texas A&M University. He is also a Certified Public Accountant. The Company has initiated a search process to identity and appoint a new permanent Chief Financial Officer.
Mr. Altemus said, “The Company has had a momentous year from going public to preparing for our first lunar launch and we are thankful for the leadership and guidance provided by Mr. Sallee. On behalf of the Company, we thank Mr. Sallee for his service to Intuitive Machines. We are delighted that Mr. Vontur has agreed to take on the interim CFO role. Mr. Vontur has demonstrated his expertise and understanding of the Company’s mission and values. I look forward to working with Pete, Steve and the rest of our leadership team as we prepare for our first mission to the moon and continue to grow the business and our partnerships.”
News released Dec 26, 2023. Parnership with Boryung
Intuitive Machines is pleased to announce a strategic partnership with the South Korean firm, Boryung Corporation. This partnership brings the American and South Korean commercial companies closer together in cooperation for space exploration endeavors. Boryung, South Korea’s leading healthcare investment company, has focused on investing in critical infrastructure and in new research and development opportunities in space and beyond to expand this capability. “The two firms intend to cooperate together in discussing critical infrastructure partnerships in and around the Moon to facilitate a long-term life science campaign for research and understanding of how humans live and work in space and off planet. We believe the IM and Boryung partnership will direct the next wave of innovation in the human health research and healthcare journey by operating in deep space, and collecting essential data on combined gravity/radiation environmental effects for commercial sale,” said Steve. Altemus, President and Chief Executive Officer of Intuitive Machines.
“Additionally, Intuitive Machines is scaling across multiple business lines. Our recent contract award and execution start of the OMES III contract is evidence of how we are moving into orbital services. Our Lunar Access business is seeing an expansion beyond NASA and the CLPS program toward commercial and international business. In Space Products and Infrastructure Services we are preparing for growth in lunar surface systems that will also be part of our international expansion. With this anticipated growth, Intuitive Machines is putting in place the organization and leadership to ensure we scale seamlessly.”
Boryung has already partnered with Axiom in 2022 and has invested $60mil in that partnership. An interesting note here is that LUNR founder Kam Ghaffarian is also founder of Axiom. Both are based in Houston, Texas. Coincidence? Maybe. Or maybe Kam Ghaffarian is slowly building a space network.
At the very least, this partnership should provide another revenue source other then NASA and the US government
Really cool video released by LUNR showing an animated look at our mission to land on the moon. Check it out!
https://stkt.co/0B7KA1w6
Nova-C lunar lander has arrived at NASA, Cape Canaveral,Florida
Launch date reconfirmed for January 12th, 2024
HOUSTON, Dec. 04, 2023 (GLOBE NEWSWIRE) -- Intuitive Machines, Inc. (Nasdaq: LUNR, LUNRW) (“Intuitive Machines”) (“Company”), a leading space exploration, infrastructure, and services company, has announced the successful delivery of its IM-1 mission Nova-C lunar lander to Cape Canaveral, Florida.
“Reaching this tremendous milestone has built a four-year foundation of technical excellence earned through challenges, failures, and triumph; I’m so proud of this team leading the United States back to the Moon,” said Intuitive Machines CEO Steve Altemus. “The opportunity to deliver the first of three manifested lunar landers with NASA and commercial payloads is an incredible moment for the entire commercial aerospace industry, and I’m looking forward to this launch as well as our subsequent missions in the near future.”
In coordination with SpaceX, the liftoff of the IM-1 lunar mission is targeted for a multi-day launch window that opens no earlier than January 12, 2024. In case of unfavorable launch conditions, such as poor weather, backup opportunities will be determined based on the lunar blackout window and other factors.
The Company’s IM-1 mission will be operated from Intuitive Machines’ Nova Control Center in Houston, Texas. There, flight controllers will monitor spacecraft health, send commands, and receive data during the lander’s approximate six-and-a-half-day journey to the lunar surface using the Company’s commercially available Lunar Data Network. After landing, Intuitive Machines and its customers expect Nova-C to operate in the lunar south pole region for nearly two weeks.
As previously announced, Intuitive Machines completed the IM-1 lunar lander in September at the Company’s Lunar Production and Operations Center located at the Houston Spaceport. In late November, the lander was loaded into a custom-designed air ride ground transport system and delivered to Cape Canaveral, Florida.
IM-1 will be the Company’s first of three manifested attempted lunar landings as part of NASA’s Commercial Lunar Payload Services (“CLPS”) initiative, a key part of NASA’s Artemis lunar exploration efforts. The science and technology payloads sent to the Moon’s surface as part of CLPS intend to lay the foundation for a sustainable human presence on the lunar surface and the commercial development of the Moon.
From Spaceflight Now (Nov 11, 2023):
No earlier than Jan. 12, a Falcon 9 rocket will be used to launch the first Commercial Lunar Payload Services (CLPS) mission from Intuitive Machines. The Nova C lander flying to the Moon’s South Pole must be fueled at the launch pad using equipment only available at 39A.
In an interview with Spaceflight Now last month, IM’s Vice President of Lunar Access Trent Martin said that they will also conduct a wet dress rehearsal “several days before the launch.”
“We want to fuel as late as possible. SpaceX has been very accommodating and they’re providing us a service that gives us liquid oxygen, liquid methane,” Martin said in October. “They’ll fill up until the very last minute, so that we’re as full as possible and we have the highest chance of success at landing on the Moon.”
There is currently a packed schedule at the launch site, meaning that the launch of Astrobotics lunar lander in December could be also delayed. Space X is launching every three days from Florida, that is clogging up the schedule. LUNR still might be the first to land on the moon. First or second, doesnt really matter. What matters is a successful landing. Im ok with them waiting, as long as it means there is a better chance of success
I have been buying more down here. Stock and warrants. They announced on Sept 29, that they are on schedule with the Lunar-C delivery. I believe them. The only thing that I can think of for the reason there are no further updates is possible security reasons. Idk. Third quarter earnings to be on Nov 13. we should here an update then if not sooner.
On September 7th, it was recorded that LUNR executive chairman, Ghaffarian Seyed purchased 268,824 shares of the Class C stock. He also purchased 64,328 shares of the Class A shares. This brings his total number of shares to 43,890,180. His almost 44 million shares represent approx 40% of the shares outstanding. That is putting his money in what he believes in.
This also locks down more shares and lowers the float. If we get good results from the LUNR-C mission, our share price could really take off
It looks like an offering. If that is the case, approximately four million shares added to the Class A shares. I feel this is a bridge to the OMES contract that was delayed due to an appeal. This appeal cost LUNR three months of revenue due to LUNR not being able to monetize the contract in the third quarter 2023. Pushing the start into the fourth quarter. The OMES contract should average out to approx $18mil of revenue per quarter. This investment buys LUNR the time needed until it initializes the OMES contract.
The biggest part of this new $20 mil investment is that it buys LUNR another quarter of operating capital. We lost this capital through the appeal of the OMES contract lasting nearly three months, thus delaying revenue til the fourth quarter.
I feel there may be a fear of cash burn quarter over quarter. The OMES contract should bring in approximately $18 mil of revenue each quarter. The delaying of that revenue put us at risk. Maybe that was SAIC’s intentions all along. Choke out the upstart. Good to see that there is an investment firm that believes in LUNR and our future. A successfully landing and contracts will be pouring in from all over the world.
India and Russia will be attempting to land on the South pole of the moon early this week. LUNR should launch late SEPT. Even if LUNR is not the first to land on the moon, they will be the first US company to do so. This is still big.
U.S. GAO shows that the OMES contract granted to LUNR that was appealed by SAIC has been dismissed. The NASA contract is ours. No news on LUNR website yet. We should get a pop when the news is officially released.
NOVA-C LUNAR LANDER PASSES COMPLETE SPACECRAFT TEST RUN
https://investors.intuitivemachines.com/news-releases/news-release-details/nova-c-lunar-lander-passes-complete-spacecraft-test-run
Volume is very light. We are in a calm period right now. I'm long term here and well invested. LUNR is a start up in an innovative area. Patience will be rewarded
Those 315k shares purchased Friday at close are now down $630,000.00
315,924 Buy @ the ask . Right as we closed....Something is up!!!
Thanks for the heads up. I dont think this is in response to Virgin Galactic's news. That news came out at 6:00pm. LUNR started up two hours later. Volume is low though so maybe nothing. Or someone knows something and got in early.
Also, It appears that someone on Stocktwits read my sticky post and has posted some of LUNR's facts over there. It cant hurt.
Warrants are also up AH. Could be a fun Friday
HIGHLIGHTS FROM THE FIRST QUARTER (first ever) CONFERENCE CALL....May 11, 2023
• Ended the quarter with contracted backlog of $156.1 million, $107.7 million of which is expected to convert to
revenue over the remainder of the year.
• Quarter end cash balance of $46.8 million with an additional $13.6 million of cash received in April from
additional warrant exercises
• Lunar lander, Nova-C completed all structural tests, a propellant load demonstration, and a full duration mission
sequence test paving the way for Intuitive Machines’ first mission to the Moon expected in third quarter of 2023.
• Awarded five year $719 million NASA Omnibus Multi-Engineering Services (“OMES”) III contract in April 2023
to deliver on-orbit services to the Joint Polar Satellite System for NASA
Erik Sallee, Intuitive Machines CFO said, “Our first quarter 2023 financial results were in line with expectations. With a
cash balance of $46.8 million at the end of the quarter, we believe we are well positioned to execute on our business plan.
We ended the quarter with a contracted backlog of $156.1 million. This backlog does not include the NASA OMES III
contract, which was awarded to our joint venture in early April after the first quarter ended and for which an interested
party initiated a protest.”
2023 OUTLOOK
Intuitive Machines expects 2023 revenue to be in the range of $174 million to $268 million and gross margin to be in the
range of about 5–18%. We expect to end the year with a cash balance of approximately $49 million.
Mr. Sallee continued, “We expect our revenue generation to be stronger in the second half of the year, given revenue
recognition and timing of several events and contracts which we anticipate will occur in the second half of the year and
support our projected growth. A stronger second half is in line with previous years and not uncommon within the aerospace
and defense industry as a result of the contract nature of the business.”
OTHER KEY POINTS MENTIONED BY CEO STEVE ALTEMUS
* Intuitive Machine's lunar lander, NOVA-C, has successfully tested to launch with SPACE X Falcon 9 rocket. This is the private company owned by Elon Musk. His goal is to make the moon/Mars habitable.
* LUNR owns a 12 1/2 acre lot which contains a 100,000sf production facility
FROM CFO ERIC SALLEE:
* $187mil in 2023 revenue is considered to be "firm backlog"
* $18.2mil 1st Quarter Revenue
* $32.2mil in Operating Expenses ($2.8mil was for the public offering in Feb)
* Expects positive EBIDA in 4th Quarter 2023
GUIDANCE:
* Protest to the OMES contract was filed May 09, 2023 and expects the review and final decision to be made in 100 days
* Expects 2023 revenue to be between $174-$268mil
* Expects to have approximately $49mil on hand at end of year
SHARE COUNT (from Eric Sallee's mouth)
* Class A common: 14.8million shares
* Class B common: 10,566 shares (to employees prior to going public)
* Class C common: 68.14 million shares (to the three founders)
REGARDING THE PROTEST OF $719mil OMES CONTRACT:
* These are "fairly frequent" in our business
* "less than 10% are overturned"
* LUNR's "score was exceptional"
* Partner 51%-49% with KBR
OTHER IMPORTANT NOTES FROM ERIC:
* Already contracted for the first two data relay satellites (Missions 2 and 3/ To be deployed end of 2023; early next year)
* LUNR has "considerable traction" in the data relay field. "A year or two ahead of any competition" CFO's answer to competition from Lockhead Martin and their satellite/data delivery service
* "emerging market here and we are at the forefront" When asked about data relay service/ moon satellites
* "expect about three awards in the data relay, around the moon satellites, field. Each one to be approximately $1bil"
I've posted links in my posts below. Yes, there are analyst ratings also
Intuitive Machines (LUNR) has received a payment of $3.4mil from NASA for lunar space transportation. I'm not sure if this is a new contract or a down payment from the $719MIL contract that was under protest. Protest has been dismissed
https://stkt.co/KaDcmE5f
The protest from Genesis 360 has been dismissed. This protest is from the $719mil contract awarded to LUNR from NASA. It was expected to take 100days to resolve, but it was resolved in less than 30 days. LUNR can now start working on this contract
https://stkt.co/Z_9euL6X
From Space News. April 11, 2022:
In November, Northrop Grumman announced it formed a team with several other companies, ranging from lunar lander developer Intuitive Machines to tire manufacturer Michelin, to develop an Artemis rover.
Know what you own
Our day will come. LUNR is in the next big market. Contracts with NASA ,Raytheon, Northrup Grumman, and ties to Space X. Our government will pour Billions into the Aerospace field due to security concerns from China and Russia. We have one foot in the door, this is just the beginning and lots of games will be played to make sure everyone has their piece. I've got mine!
Blue Origin won the NASA bid because they contributed a match of "well north" the $3.4bil NASA contract. Jeff Bezos is putting up over $3.4 of his own money for this venture. Kinda hard to turn down that type of a contract
Here is an interesting and very informative story that was on CBS mornings today. Explains alot of what LUNR is doing and how much money there will be spent to take payload to the moon.
https://www.facebook.com/CBSMornings/videos/american-companies-building-lunar-landers-ready-to-commercialize-moon/282384177464996/
No dilution in the near future. CFO stated $46mil on hand. $108mil in expected revenue for the rest of this year, not counting the $719mil contract just announced with NASA. This contract will start producing revenue 4th Q of this year
Been blocked over at "Y" for talking the truth and stating facts. You can now find my research on LUNR here
Market Maker doing a great job today with all this volume
Why no halt on this run up??? I'll tell you why. The last three days it was the MM shorting LUNR down. The MM needed the shares for another expected run up (now). He now has millions of shares and can let this run. Shaking out the week hands now, expect another push at lunch time
Still here and I'm not selling. For those who have reaches out to me, here is the revenue and SPAC link
www.cnbc.com/2022/09/16/intuitive-machines-going-public-via-spac-near-1-billion-valuation.html
Big spender!
So you will be a buyer?