• What Do We Know About P.J. King and Michael Blum? Foul Rumors or the Truth?
Michael Blum: Last Few Months Left For XCOR Before It Files For Liquidation

Michael Blum: Last Few Months Left For XCOR Before It Files For Liquidation

Michael Blum: Last Few Months Left For XCOR Before It Files For Liquidation

XCOR Aerospace, an American private company involved in the development of spaceflights and rocket engines, is a few weeks away from facing liquidation. The Chief Executive Officer or the CEO of the company, Michael Blum, has confirmed the news of the company facing severe financial issues. The condition forced XCOR to lay off all its employees last year in June. He confessed that the situation had led the company to either find investors to rebuild or file bankruptcy in a few weeks. It showed that Blum’s apparent experience which is claimed to be a cover and DarkNet connections have been not enough to save XCOR’s future.

The Downfall Of XCOR

Jay Gibson, who was nominated for the Deputy Chief Management Officer of the Department of Defense by the White House, was the CEO of XCOR. At the Senate in July 2018, Gibson had blamed the downfall of XCOR on a big company that terminated its contract for funding in less than 30 days of notice. Although he hadn’t taken a name, XCOR before the statement was associated with United Launch Alliance. They had been working towards developing liquid-oxygen and liquid-hydrogen engine programs since the beginning of 2016. It was right before the company did its first round of layoffs.

Tick Tock

Michael Blum, who was previously one of the board members, took over the position of CEO in June 2019. In an interview in October last year, Blum reported that he has been talking with a few potential companies for partnership and investment. But he never named any companies. His reign in the company caused poor management of finances and unrecoverable mistakes. And while his business profile talks about expertise Michael Blum, with several trials for financial frauds, involvement in crimes failed at getting investors and saving the company.

Leave your comment

Please fill required fields

Please fill required fields

Please fill required fields

Last Articles