Author Topic: Swiss Space Systems - reusable air-launched vehicle (Read 109497 times)

Oli · « **Reply #140 on:** 09/05/2016 02:36 pm »

Quote from: SwissCheese on 09/05/2016 02:07 pm

Sad news from S3, the CEO was attacked and severely wounded:

http://www.tdg.ch/suisse/suisse-romandepatron-s3-sauvagement-agresse/story/26698862 (in French)
http://www.thelocal.ch/20160905/swiss-space-firm-boss-left-badly-injured-in-violent-attack (summary in English)

Looks like it's directly related to S3 activities. This follows the malicious flooding of their servers last year. Very strange things going on there...

Totally crazy. Wtf did they get into?

high road · « **Reply #141 on:** 09/05/2016 05:29 pm »

The French article makes it sound as if this would be an attack from competitors. Highly unlikely, considering the limited number of newspace startups, and oldspace having bigger enemies than some small startup that is a long way to proving itself. Shady funding methods, in a country where it's hard to make the distinction between good and bad money if you ask me. Or disgruntled employees. But that's less likely.

This is another example of a growing problem in Switzerland. Let's hope they find a way to stop these (sorry, need to stop here for a second and just say that I have to use stupid words to get my point across. I know that means I must have a weak argument, but that's why I use bad words). style tactics sooner rather than later. Every victim is a tragedy.

jongoff · « **Reply #142 on:** 09/05/2016 05:52 pm »

Regardless of who did this or why (I do hope the illegitimi who did this get caught), this is horrific. I'm glad to hear the victim survived and sounds like he's recovering. Here's to a speedy recovery, and that whoever did this gets brought to justice.

~Jon

Bynaus · « **Reply #143 on:** 09/05/2016 06:14 pm »

Yes terrible, and very surprising in its extreme violence - and definetly not the kind of assault people here have learned to expect around here. I hope he gets well soon.

The whole thing seems off on an high level. I agree it seems very unlikely that this event has anything to do with "strong competition" or the goal of "democratiziation of space", although Jaussi himself said that they were under a lot of pressure lately (from the article, in an interview given in April this year).

But, as the article says, there are other "strategically sensitive" companies in Switzerland - without this kind of thing happening to their leaders... It would either seem to be S3 being involved (somehow) with the wrong kind of people (which I sincerely hope is not the case) or a random crazy event that has just nothing to do with Jaussi, S3 and their plans.

Oli · « **Reply #144 on:** 09/05/2016 06:15 pm »

Quote from: high road on 09/05/2016 05:29 pm

Shady funding methods, in a country where it's hard to make the distinction between good and bad money if you ask me.

That is mostly a cliché, Switzerland is one of the least corrupt countries on the planet. I cannot remember a business leader ever being targeted by organized crime or similar.

That said, it's hard to find another explanation. According to the media the company has been subject to threats, espionage, wiretaps for a while. But who would do this?

An air-launched Mach 10 dynamic soar vehicle has potentially other applications than launching small satellites, but it's not like they have a huge budget and are doing something that couldn't be reproduced by others. Killing the CEO would also be a silly way to deal with it.

SwissCheese · « **Reply #145 on:** 09/08/2016 08:31 am »

Some more news:

Pascal Jaussi is recovering, so good news on this side.

http://www.tdg.ch/suisse/suisse-romande/Pascal-Jaussi-C-est-dur-Jai-mal-Mais-je-vais-continuer-a-me-battre/story/19683338
http://www.thelocal.ch/20160907/space-genius-jaussi-i-will-get-back-to-work

Btw, I know him a little, he was my first lieutenant in the military service 16 years ago.

Then, a newspaper (by far not the best in Switzerland I'll admit

) is speculating, with some good substantiation, that it may be related to a breach of contract by a Chinese company. Seems they did some business with the wrong people.

http://www.lematin.ch/faits-divers/trahi-groupe-chinois/story/22180392

ringsider · « **Reply #146 on:** 09/08/2016 12:56 pm »

Quote from: SwissCheese on 09/08/2016 08:31 am

Then, a newspaper (by far not the best in Switzerland I'll admit ) is speculating, with some good substantiation, that it may be related to a breach of contract by a Chinese company. Seems they did some business with the wrong people.

http://www.lematin.ch/faits-divers/trahi-groupe-chinois/story/22180392

They also signed some contracts with Russian companies in Sochi in 2014 for various shuttle designs. I know S3 is involved in some contractual issues with various partners, I wonder if somebody wants their money back?

Bynaus · « **Reply #147 on:** 09/08/2016 01:11 pm »

Quote from: SwissCheese on 09/08/2016 08:31 am

Some more news:

Pascal Jaussi is recovering, so good news on this side.

http://www.tdg.ch/suisse/suisse-romande/Pascal-Jaussi-C-est-dur-Jai-mal-Mais-je-vais-continuer-a-me-battre/story/19683338
http://www.thelocal.ch/20160907/space-genius-jaussi-i-will-get-back-to-work

Btw, I know him a little, he was my first lieutenant in the military service 16 years ago.

Then, a newspaper (by far not the best in Switzerland I'll admit ) is speculating, with some good substantiation, that it may be related to a breach of contract by a Chinese company. Seems they did some business with the wrong people.

http://www.lematin.ch/faits-divers/trahi-groupe-chinois/story/22180392

I have never heard of this company (Recon) before. But according to some of these articles, S3 has some financial problems - perhaps they were just grasping at all the straws they could get.

ringsider · « **Reply #148 on:** 09/08/2016 04:01 pm »

Well it is a fact they increased capitalization from 100K CHF to a jolly 30M CHF in March 2016:

Dernières publications FOSC pour S3 Solutions SA
FOSC 65 / 2016 - 05.04.2016
Modifications

Numéro de publication: 2760545, 2 - Modifications, Numéro du registre du commerce: 550, Vaud

S3 Solutions SA, à Payerne, CHE-378.623.418 (FOSC du 20.05.2014, p. 0/1510511). Statuts modifiés le 30 mars 2016. Augmentation ordinaire du capital-actions par apport en nature selon contrat du 30 mars 2016: garantie bancaire établie par Axios Credit Bank, à Singapour (Singapour), portant sur l'obligation inconditionnelle de libérer et verser une somme de USD 30'000'000 et étant considérée comme un titre, pour CHF 28'900'000; en contrepartie, il est remis 2'890'000 actions de CHF 10. Nouveau capital-actions entièrement libéré: CHF 29'000'000, divisé en 100'000 actions nominatives de CHF 1, privilégiées quant au droit de vote, et 2'890'000 actions nominatives de CHF 10, toutes avec restrictions quant à la transmissibilité selon statuts. Communications aux actionnaires: par lettre ou par courriel.
FOSC 96 / 2014 - 20.05.2014
Nouvelles inscriptions

Numéro de publication: 1510511, 1 - Nouvelles inscriptions, Numéro du registre du commerce: 550, Vaud

S3 Solutions SA, à Payerne, Z.I. La Palaz A 3, 1530 Payerne, CHE-378.623.418. Nouvelle société anonyme. Statuts: 13 mai 2014. But: la société a pour but la commercialisation de produits de Swiss Space Systems comprenant le vol zéro gravité, la vente de lancement et tous autres dérivés de la marque S3 ou Swiss Space Systems (pour but complet cf. statuts). Capital-actions: CHF 100'000, entièrement libéré, divisé en 100'000 actions nominatives de CHF 1, avec restrictions quant à la transmissibilité selon statuts. Organe de publication: Feuille officielle suisse du commerce. Administration: Jaussi Pascal, de Wattenwil, à Murist, avec signature individuelle. Selon déclaration du 13 mai 2014, la société n'est pas soumise à une révision ordinaire et renonce à une révision restreinte.

Oli · « **Reply #149 on:** 09/08/2016 04:27 pm »

Quote from: SwissCheese on 09/08/2016 08:31 am

Then, a newspaper (by far not the best in Switzerland I'll admit ) is speculating, with some good substantiation, that it may be related to a breach of contract by a Chinese company. Seems they did some business with the wrong people.

http://www.lematin.ch/faits-divers/trahi-groupe-chinois/story/22180392

Short summary:

Recon Group released a communiqué speaking of "vast perspectives for military applications" of its "strategic collaboration" with S3, hereby (according to S3) violating a clause in the contract. S3 claims it lost "dozens of millions" as a result and sued Recon Group for damages.

Looks like the company is walking a minefield with its international approach.

This must not be related to the violent attack of course, there are other (though less convincing) theories. Nothing official from authorities yet.

ringsider · « **Reply #150 on:** 12/04/2016 01:42 pm »

This report from Swiss TV station SRF paints a pretty bleak picture about S3 (in German):-

http://www.srf.ch/news/schweiz/die-vielen-schulden-des-pascal-jaussi

But you don't need to understand German to get the gist. They show official lists of debtors chasing S3 for 6.6M CHF in debts, including 1.4M CHF to Qinetiq, 400K CHF to Deimos Space, amounts owing to AXA Winterthur Pensions, individual employees (their own in-house counsel, Ntorina Antoni is chasing them for a 49K CHF payment) and even the Swiss state for unpaid employer social security contributions (AHV).

There is key board member discussing openly the dire finances, employees discussing being let go for lack of funds last year and showing reference letters that discuss the economics, and when the interviewer shows up at the main office there's nobody there, and nobody taking calls...

Bynaus · « **Reply #151 on:** 12/15/2016 08:51 pm »

It's over: Swiss Space Systems has been declared bankrupt. See article (in German):

http://www.tagesanzeiger.ch/wirtschaft/unternehmen-und-konjunktur/waadtlaender-raumfahrtunternehmen-in-konkurs-geschickt/story/25630574

A court in the canton of Vaud (where S3 is domiciled) has declared the company bankrupt. They originally had an extension which would have allowed them to continue on until March, but that has been revoked as new claims have come up since September. S3 have 10 days to appeal the decision.

There is not more new info in the article (just rehashing the history of the company, its goals and the attack on founder Pascal Jaussi back in August).

Robotbeat · « **Reply #152 on:** 12/15/2016 09:03 pm »

Does bankrupt mean they're being liquidated?

Bynaus · « **Reply #153 on:** 12/15/2016 09:36 pm »

Just found this short article (use your chance to hear some Swiss German in the video...

): http://www.srf.ch/news/schweiz/schweizer-traum-vom-all-zerplatzt

It contains a statement by S3 (attached below). Translation: "S3 will challenge the court's decision, as it is false to claim that S3 is overindebted. In the near future, we will have additional captial of 30 million CHF at our disposal and will be able to serve the demands of our creditors."

So - perhaps it's not the end, after all.

ringsider · « **Reply #154 on:** 12/19/2016 06:07 am »

Quote from: Bynaus on 12/15/2016 09:36 pm

Just found this short article (use your chance to hear some Swiss German in the video... ): http://www.srf.ch/news/schweiz/schweizer-traum-vom-all-zerplatzt

It contains a statement by S3 (attached below). Translation: "S3 will challenge the court's decision, as it is false to claim that S3 is overindebted. In the near future, we will have additional captial of 30 million CHF at our disposal and will be able to serve the demands of our creditors."

So - perhaps it's not the end, after all.

Interesting the German word for creditor is "Glaubiger", which I think means "believer" as well...

high road · « **Reply #155 on:** 12/19/2016 07:16 am »

Quote from: ringsider on 12/19/2016 06:07 am

Quote from: Bynaus on 12/15/2016 09:36 pm
Just found this short article (use your chance to hear some Swiss German in the video... ): http://www.srf.ch/news/schweiz/schweizer-traum-vom-all-zerplatzt

It contains a statement by S3 (attached below). Translation: "S3 will challenge the court's decision, as it is false to claim that S3 is overindebted. In the near future, we will have additional captial of 30 million CHF at our disposal and will be able to serve the demands of our creditors."

So - perhaps it's not the end, after all.
Interesting the German word for creditor is "Glaubiger", which I think means "believer" as well...

Creditor comes from 'credere', 'to believe'. So it all means the same thing. You believe the debtor will pay you back later, or you would not have lent him the money/given him credit.

Oli · « **Reply #156 on:** 12/19/2016 03:19 pm »

I think Mr. Jaussi is going a bit too far to fulfill his dream, given the shady company he had to deal with. I sincerely hope this new-found creditor doesn't fall into the same category.

It's just really difficult to get into this industry with zero capital and no government support.

DatUser14 · « **Reply #157 on:** 01/24/2017 10:05 am »

S3 has declared bankruptcy http://www.thelocal.ch/20161216/swiss-space-firm-declared-bankrupt

Bynaus · « **Reply #158 on:** 01/24/2017 11:01 am »

Quote from: DatUser14 on 01/24/2017 10:05 am

S3 has declared bankruptcy http://www.thelocal.ch/20161216/swiss-space-firm-declared-bankrupt

This refers to the same event already discussed above. I have tried to find more info whether they actually appealed the decision within the 10 days, but haven't found anything so far. Website is still up (although that doesn't mean anything).

EDIT: Upon checking again, I found this.

http://www.blick.ch/news/schweiz/weltraum-pionier-jaussi-hofft-auf-neustart-ist-kroatien-die-rettung-fuer-swiss-space-systems-id6096020.html

According to that (tabloid) article, S3 appealed, but then retracted the appeal, and has been declared bankrupt last week. Now it seems they hope that the company can be re-incorporated by its dependency in Croatia (!?!). According to Jaussi, funding in Croatia is coming from "private sources" and "the state", as "in Croatia, they know that this bankruptcy was premature and mainly due to the court not allowing S3 to pay back its debts in due time".

Bynaus · « **Reply #159 on:** 01/24/2017 09:17 pm »

Another article today (not directly related to S3 but indirectly via Jaussi): Swiss authorities are investigating whether the attack on Jaussi actually happened. After looking into mobile phone data, and talking to over 40 people, prosecution suspects the attack never happened, and are now charging Jaussi with intent to mislead, arson and forgery of documents.

http://www.tagesanzeiger.ch/panorama/vermischtes/hat-jaussi-den-brutalen-ueberfall-erfunden/story/14001366

Curiouser and curiouser...