MNTS — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-11

• As of the date of this filing, the Vigoride 7 OSV has completed a series of orbit-lowering maneuvers, reducing its altitude by nearly 20 kilometers through more than 50 controlled operations of its onboard water-based Microwave Electrothermal Thrusters (“METs”), which have now been used cumulatively…

• The Company's Vigoride 8 mission, expected to launch in 2027, is fully booked with two NASA payloads, and the Company has begun work on its Vigoride 9 spacecraft, including signing an initial customer contract for this mission.

• As of June 30, 2026, we have expensed all research and development costs associated with developing and building our vehicles.

• Change in Fair Value of Convertible Debt Carried at Fair Value

• Changes in the fair value of convertible debt measured at fair value on a recurring basis.

Text removed vs the prior filing · source: 10-Q · 2026-05-13

• subcontractors). The Company also records launch costs related to the testing of its Vigoride vehicles as research and development costs.

• As of March 31, 2026, we have expensed all research and development costs associated with developing and building our vehicles.

• Service revenue increased $2.9 million, from $0.3 million for three months ended March 31, 2025 to $3.2 million for the three months ended March 31, 2026. The increase was driven by two factors. First, the Company recognized $1.6 million of revenue from hosted payload services related to the Vigorid…

• Cost of revenue for the three months ended March 31, 2026, was primarily due to the launch cost allocated to customer payloads on the Vigoride 7 mission.

• Research and development expenses increased from $1.9 million in the three months ended March 31, 2025, to $4.2 million in the three months ended March 31, 2026. The increase was primarily due to a $0.9 million increase in payroll costs, a $0.6 million increase in subcontractor costs, and a $0.9 mil…

Text added vs the prior filing · source: 10-Q · 2026-08-11

• In designing and evaluating the Disclosure Controls, management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives and management was required to apply judgment in evaluating its con…

• In connection with the preparation of this report, our management, under the supervision and with the participation of our CEO and CFO, conducted an evaluation of the effectiveness of the design and operation of our Disclosure Controls as of June 30, 2026. Based on this evaluation, the CEO and CFO c…

Text removed vs the prior filing · source: 10-Q · 2026-05-13

• In designing and evaluating the Disclosure Controls, management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control

• objectives and management was required to apply judgment in evaluating its controls and procedures. All internal control systems, no matter how well designed, have inherent limitations, including the possibility of human error and the circumvention of overriding controls.

• In connection with the preparation of this report, our management, under the supervision and with the participation of our CEO and CFO, conducted an evaluation of the effectiveness of the design and operation of our Disclosure Controls as of March 31, 2026. Based on this evaluation, the CEO and CFO …