SpaceDev Introduces Low Cost Modular Microsatellite

POWAY, Calif.--(BUSINESS WIRE)--Nov. 7, 2005--SpaceDev (OTCBB: SPDV - News) announced a new high performance microsatellite product program named the SpaceDev Modular Microsat Bus(TM). The SpaceDev MMB-100 microsat is a highly capable modular 100 kg (220 pound) microsatellite based on industry standard "Plug-n-Play" interfaces. In addition to standard Ethernet and USB interfaces, the SpaceDev MMB-100 uses a real-time Linux operating system, and uses CORBA-based object oriented interfaces for subsystems as well as commanding from the ground via the Internet. The basic SpaceDev MMB-100 Bus is expected to price at less than $10 million, not including the payload and payload integration.

Been watching for bazillions of microseconds since I bought their stock. But waiting no longer. They are far off track.

I knew SpaceDev's founder, Jim Benson before he even had the idea for founding SpaceDev and introduced him to the various emerging commercial space players that he learned the industry from. I was also invited by him to their first design review back when they were having UCSD students do their work. He later bought out a struggling small San Diego aerospace subcontractor and created the SpaceDev company, which he took public in an unusual process of buying yet another penny stock company and changing the name to SpaceDev and folding in the small San Diego aerospace subcontractor staff. Add some publicity and word of mouth marketing campaign to pump up interest and instant demand for the otherwise worthless stock.

Yep, I bought SpaceDev stock shortly after they went public and hung onto it for about 4 years of a rapid slide back into the penny stock category and a long period of hope that they would climb back out of the cellar.

It was a learning experience.

Benson is a 60s era Democrat that likes to think he is pro commerce. The asteroid gig was part of the ruse to get the stock pumped up. For a pro commercial guy, Benson sure ran to the government quick when he needed to balance the books. Then again his past companies were government contractors as well.

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