"SpaceDev was disappointed to learn that the SEC has decided to institute an administrative proceeding," said Mr. Benson. "While the Company disagrees with the views expressed by the SEC in its Order Instituting Proceedings, the Company had attempted to resolve the issues raised by the SEC through a settlement. The Company now intends to vigorously contest the SEC's allegations."
Mr. Benson compared today's action by the SEC to "shooting at ants with an elephant gun," and expressed confidence that ultimately the SEC's case would be dismissed and that the Company would be vindicated.
SpaceDev, the world's first commercial space exploration and development company, intends to launch the first privately financed spacecraft to land on another planetary body. SpaceDev is selling rides for scientific instruments to governments and companies to transport their instruments and experiments, through deep space to a near earth asteroid. SpaceDev intends to sell the data acquired by its instruments as commercial products. Colorado-based SpaceDev has offices in San Diego, CA and Washington, D.C.