Momentus Inc. [NASDAQ: MNTS]. The report goes over the beginnings of how Momentus came about and how they got listed through a SPAC in June 2020. The report also highlights the shady founder Mikhail Kokorich, a Russian national who has had no background in space. Momentus claims to have game changing water plasma rocket technology, but has not been able to produce anything at all. The idea is something out of a science fiction movie where they intend to use water to launch and maneuver rockets in outer space.
The SEC investigated Momentus in July 2021 and by August 2021 the SEC concluded it's investigations of the company and labeled it a fraud. The company was sued by the SEC and had it's valuation decreased from $1.13 billion to $567 million after sanctions and penalties were imposed. On top of all of this, Momentus' water plasma propulsion system is a dud and the company is a worthless scam that is making a mockery of the entire capital markets.
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