Air leak first detected in September 2019 in Zvezda module.

Air leak first identified in August 2020 in transition chamber of Zvezda.

Air leak detected on 18 January 2024 in Zvezda module.

Air leak discovered 1 January 2025 in Zvezda module.

Leak caused by small crack in Zvezda module.

Crack located in transition chamber of Zvezda.

Cracks in hull suspected to cause air loss.

Possible collision with space debris or detached seals.

Crack in metal wall identified by tea‑bag test.

Temporary patch applied in October 2023.

Crew patched cracks with tape, but pressure fell.

Crew applied sealant to crack, permanently fixing leak.

Repair will begin after Progress cargo ship delivers supplies.

Repair performed by Russian crew after delivery.

Leak remains after patch.

No permanent repair reported yet.

No immediate repair performed yet.

Leak not fully fixed.

Leak monitoring ongoing.

Leak detected in Russian segment of ISS tail section.

Air leak first detected in September 2019 in Zvezda module.

Title:

Content: Links for simplified access
ISS crew reports smoke and smell of burnt plastic
In the Russian module “Zvezda ” on the International space station (ISS) last night worked fire alarm, reports RIA“ Novosti ” with reference to the negotiations of the crew with the Earth, which broadcasts NASA.
Around five in the morning Moscow time, cosmonaut Oleg Novitsky told the Mission Control Center about the smoke and smell of burnt plastic.
After that, the devices showed the presence of harmful substances in the area of the medical cabinet in the Zvezda module.
French astronaut Tom Pesquet said that the smell of burnt plastic or electronics also penetrated the American segment of the ISS due to the working ventilation.
The source of the smoke and smell has not yet been identified.
The ISS included a system for removing harmful impurities.
Later, Roscosmos said that the smoke sensor and alarm system worked on the ISS “during automatic recharging of batteries. ”
Currently, all systems of the station are working normally, the department notes.
The Russian service module Zvezda docked to the ISS in July 2000.
Its main frame was built in the 1980s as the core of the Mir-2 space station, which was to replace the Mir station, but then it was decided to use it in the ISS program.
Zvezda allows a crew of three cosmonauts to stay in space, and the module can also dock with the Progress cargo ship, which once every three months delivers the necessary supplies to the station and adjusts its orbit.
In the fall of 2019, an air leak was recorded on the ISS.
A year later, the leakage rate increased fivefold.
Sequential sealing of the station compartments allowed us to establish that the cause of the leak was a crack in the Russian segment of the ISS - Zvezda.
The astronauts sealed it with a sealant, but the air leak continued.
Recently, during the survey of the International Space Station, cosmonauts found non-through cracks on the oldest module - "Dawn".
At the end of July, a meeting of the Presidium of the Scientific and Technical Council of Roscosmos took place, where it was noted that the station is breathing on incense.
The International Space Station will expire in 2024.
Earlier, Vladimir Solovyov, General Designer of the Energia Rocket and Space Corporation, predicted an avalanche of failure of numerous elements at the station after 2025.
This mainly concerns the tightness of the housing and complex computing facilities that have developed their resource, Solovyov noted.
XS
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Title:

Content: The Russian module of the ISS “Zvezda ” can be completely isolated due to air leakage
reads: 670
23.01.2022 23: 30
The Russian Zvezda module, which is one of the modules of the Russian segment of the International Space Station, could be permanently isolated due to air leakage.
This was reported by NASA Director for the ISS Robin Gatens, reports “Interfax ”.
She said that the situation with the module does not yet pose a serious threat to the ISS, but in the worst case, is considering the option of complete isolation of the “Star ”.
According to Gatens, NASA and Roscosmos are working together to eliminate air leakage in the module, but due to the small size of the crack, it is difficult to detect detectors and ultrasonic diagnostic tools.
In turn, Roscosmos said that the concern of their colleagues on the ISS “is not justified and is surprising. ”
According to the Russian Ministry, the cosmonauts found the site of the leak at the end of last month.
They promise to fix the problem when the Progress cargo ship delivers materials to the ISS.
Note that in the Russian segment of the space station repeatedly there were problems and other problems.
For the first time, an air leak in one of the modules was detected in September 2019, in October 2020, a crack was detected in the camera of the Zvezda module.
Recall that earlier it was reported that at the end of July 2021, after docking the Russian module “Science ” to the International space station, it turned on the engines, because of which the station began to move chaotically and for a time lost control over the orientation of the ISS.
Wikipedia: The International Space Station, Inc.
International Space Station (ISS).
ISS) is a manned orbital station used as a multi-purpose space research complex; it is operated from the end of 1998 to the present (the countries agreed to operate through 2024 inclusive, the extension of the period of operation to 2028, 2030 is being considered).
The ISS is a joint international project involving 14 countries: Russia, the United States, Japan, Canada and members of the European Space Agency Belgium, Germany, Denmark, Spain, Italy, the Netherlands, Norway, France, Switzerland, Sweden (originally the participants were Brazil and the United Kingdom).
The ISS is controlled by the Russian segment from the Space Flight Control Center in Korolev, the American segment from the Lyndon Johnson Flight Control Center in Houston.
The European Columbus and Japanese Kibo modules are controlled by the European Space Agency (Oberpfaffenhofen, Germany) and the Japan Aerospace Exploration Agency (Tsukuba).
There is a constant exchange of information between the centers.
Photofact

Air leak first identified in August 2020 in transition chamber of Zvezda.

Title:

Content: How did a bag of tea help astronauts save $150 billion?
How did a bag of tea help astronauts save $150 billion?
A few years ago, a torn bag helped save the ISS
The International Space Station was built in 1998 for $150 billion.
Every year, another 3-4 billion dollars are spent to maintain its operability, but the design is already very old and needs repair more and more often.
For example, in August 2020, a pressure drop was recorded aboard the space station, which is a sign of an air leak.
All astronauts and cosmonauts on board were isolated in the Russian Zvezda module.
After some time, it was found out that the air-permeable crack was in the module in which the entire crew temporarily settled.
One of the Russian cosmonauts was able to quickly find the place of leakage with the help of a usual tea bag.
Oxygen on the ISS
According to the India Times, the space station loses about 250 grams of oxygen every day and this is normal - it is difficult to achieve complete tightness.
In the event of an acute shortage of oxygen, it is delivered by cargo ships, but is most often produced directly at the station.
In the second case, members of the ISS use electrolysis - an electric current is passed through the water, as a result of which oxygen appears.
To do this, on board there is a life support system ECLSS, which not only monitors the operation of the station, but also provides people with access to water, protects against fires and so on.
ECLSS technical director Robyn Carrasquillo once praised Russia for using a way to extract moisture from the air, even in the old Salyut and Mir spacecraft.
ECLSS system
Oxygen leakage to the ISS
In August 2020, the space station began to lose about a kilogram of air per day.
The situation was serious, but the lives of the ISS crew were not threatened.
Astronauts from different countries temporarily began to live in the Russian module “Zvezda ” and for four days searched for a leak in other parts of the station.
The search did not give any results, so it became clear that the gap is in the Zvezda module launched more than 20 years ago.
The leak could have occurred for various reasons, for example, due to the collision of the ISS with space debris, which is a lot in near-Earth space.
Also, it was not excluded that seals simply peeled off from the walls of the station, which just do not allow oxygen to leak.
ISS module "Zvezda"
Search for the place of oxygen leakage
An unusual way to find the leak was found by cosmonaut Anatoly Ivanishin.
He installed several cameras in the module and opened the tea bag.
After some time, the ISS members noticed that the tea leaves began to move slowly towards one of the metal walls of the module.
After studying the trajectory of the leaves, the space crew quickly found the crack formed on the ISS.
First, they taped this place with tape, and then got permission to use a drill and sealant.
It is known that thanks to the trick with a package of tea, the astronauts managed to save about 150 billion dollars.
Russian cosmonaut Anatoly Ivanishin
The International Space Station is aging and will one day become completely unusable – that ’ s a fact.
New cracks were discovered even in 2021.
Especially there are many of them in the Russian module “Zarya ”, which was launched into space in 1998 and today is the oldest part of the station.
More recently, Vladimir Solovyov, General Designer of the Energia Rocket and Space Corporation, announced his concerns about the safety of the station.
It is especially frightening that the station is planned to be used even after 2025.
In theory, the use of the old station could cause a terrible disaster.
ISS module "Zarya"
Finally, I note that to replace the old module "Dawn" it was planned to send the module "Science".
But it became an independent module and docked to the ISS in July 2021.
The docking was far from perfect - the module deployed the station at 45 degrees.
19 october 2021 /
• 0
Similar news
Why not bring alcohol to the ISS?
Alcohol is officially banned on the ISS, but space researchers have found many ways to carry it with them.
Cognac is very popular with them, but it makes no sense to take beer with you.
And all
China has launched an apparatus to collect lunar soil.
When will he return to Earth?
China has successfully launched to the moon the apparatus “Chang ’ e-5 ” to collect soil samples.
This is the first such mission in 44 years, and if all goes well, China will become the third country to do so.
Russia is developing its own space station.
What will it look like?
The International Space Station was launched into orbit around our planet in 1998.
Initially, it was planned that it will work for 20 years, but subsequently the period of its use was extended.
According to the opinion
On the ISS found a place of air leakage.
What's next?
Inside the International Space Station live astronauts from different countries and they all need oxygen.
The air necessary for the life of the crew is produced by special equipment, but
Space debris nearly damaged the ISS.
How did it all work out?
Humanity began to actively explore space with the help of complex technology around the middle of the 20th century.
First, hundreds were launched into Earth orbit every year, and then thousands began to be launched.
How does space affect human vision and movement?
the brain, like the heart, is one of the main organs of the human body.
It consists of many areas, each of which has certain tasks.
Take the brain for example, this
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Title:

Content: On the ISS found a place of possible air leakage in the module “Star ”
On the International Space Station, a place of possible air leakage in the Zvezda module was discovered.
The discovery of a "suspicious" place in the module compartment was reported by cosmonaut Pyotr Dubrov during negotiations with the Flight Control Center.
“There was a suspicious place.
I was engaged in photographing it under a microscope with magnifying glasses, ” the cosmonaut quoted Interfax as saying.
Recall that in August 2020, air leakage to the ISS was detected in the transition chamber of the Zvezda module.
In October last year, cosmonauts managed to find the crack and repair it with temporary means.
In August 2021, the media reported the detection of non-through cracks in the Russian module of the ISS "Zarya".
Executive Director of Roscosmos for manned programs Sergei Krikalev said then that he had no information about new cracks at the station.
At the same time, the representative of the state corporation noted that even in the presence of non-through cracks, the ISS can be operated for another 20 years.
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Is the ISS going to be a space hotel?

Air leak detected on 18 January 2024 in Zvezda module.

Title:

Content: Ribbon
January 19 00: 04
All news
pxhere.com
Moscow, January 18.
Astronauts of the Russian segment of the International Space Station have discovered a possible place of air leakage in the chamber of the Zvezda module.
The relevant data follows from the material published by the press service of Roscosmos.
It is known that soon the nearest cargo ship "Progress" will be delivered to the ISS means of eliminating leakage.
After that, the Russian cosmonauts will immediately begin the final elimination of the cause of the leak.
"The means of eliminating non-hermeticity are planned to be delivered on the nearest Progress cargo ship, after which the cosmonauts will begin the final elimination of the leak," Roscosmos said.
Earlier, Russian cosmonauts Peter Dubrov and Anton Shkaplerov discovered a potential last place of air leakage in the Zvezda module.
Specialists will be able to restore its tightness as soon as Progress delivers the necessary equipment to the station.
Go back
Comment

Air leak discovered 1 January 2025 in Zvezda module.

Title:

Content: Ribbon
01 January 07: 01
All news
vk.com / Cosmonaut Ivan Wagner
Moscow, January 1.
Russian cosmonauts Pyotr Dubrov and Anton Shkaplerov discovered in the Zvezda module on the International Space Station, presumably the last place of air leakage.
This was reported in the press service of Roscosmos.
The first small leak was discovered on the ISS back in 2019, since then, astronauts have been monitoring the situation and eliminating cracks in the hull.
Experts know how to return the module tightness.
This will be done as soon as Progress delivers the necessary equipment to orbit.
“Russian cosmonauts Peter Dubrov and Anton Shkaplerov found a possible last place of air leakage in the intermediate chamber of the service module“ Star ” of the Russian segment of the ISS ”, — stated in the message.
Russian President Vladimir Putin previously admitted the possibility of continuing the operation of the ISS after 2024.
This is necessary to maintain high launch activity.
Go back
Comment

Leak caused by small crack in Zvezda module.

Crack located in transition chamber of Zvezda.

Cracks in hull suspected to cause air loss.

Possible collision with space debris or detached seals.

Crack in metal wall identified by tea‑bag test.

Temporary patch applied in October 2023.

Crew patched cracks with tape, but pressure fell.

Title:

Content: 22: 04, 31 December 2021
The Russian crew found the alleged site of air leakage on the International space station
It is located in the module “Star ”, said in“ Roscosmos ”.
The cosmonauts will begin repair work after the nearest Progress cargo ship will deliver the necessary funds to them, the state corporation said.
Today, during the congratulations of the Russian participants of the expedition to the ISS, the head of Roscosmos, Dmitry Rogozin, spoke about the problems faced by the astronauts.
Air leakage at the station was recorded more than two years ago.
Since then, crew members have found several cracks and reported that they were able to seal them.
However, the pressure on the station continued to fall.
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Crew applied sealant to crack, permanently fixing leak.

Repair will begin after Progress cargo ship delivers supplies.

Repair performed by Russian crew after delivery.

Leak remains after patch.

Title:

Content: 29 Feb, 2024 11:18

Russia comments on space station leak

A NASA official had previously reported that air loss from the Zvezda module had doubled

Air leaking from a segment of the International Space Station (ISS) poses no risk to its crew or the orbital outpost, the Russian space agency Roscosmos has said.

A NASA official had previously reported that the rate at which air was escaping from the satellite's Russian Zvezda module under certain circumstances had doubled. The situation is under control and being constantly monitored, the Roscosmos told Interfax on Wednesday, when asked about remarks by NASA’s ISS program manager, Joel Montalbano,.

”The aging of the station’s structure and the growing need for repair and maintenance work on board require a significant portion of the crew’s time,” Roscosmos said.

Montalbano mentioned the issue during this week’s briefing on the upcoming SpaceX Crew-8 mission, which is scheduled for launch on Friday.

”There is an area in the aft end of the International Space Station. [There is] a small leak. We’ve seen this leak increase about a week before the recent Progress launch and docking,” he said, referring to a Russian automatic supply freighter.

The volume of lost air has increased to about two pounds a day, compared to a pound a day previously, Montalbano said.

”The hatch is closed in that area. It’s not an impact on Crew-8, but I didn’t want anyone to be surprised, if they hear about that later,” he explained.

The use of the module for retrieving the Progress shipment didn’t pose any issues in terms of the leak, he said. The next opening of the hatch is expected in April. While it’s closed, the rest of the station is “solid.”

Technical issues at the ISS are being reported on a regular basis. Roscosmos has said the age of the station is a key reason why it is developing plans for a new purely Russian-manned orbital structure as an alternative to participating in the international project.

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No permanent repair reported yet.

No immediate repair performed yet.

Leak not fully fixed.

Leak monitoring ongoing.

Leak detected in Russian segment of ISS tail section.

Title:

Content: NEWS
NEWS
February 28, 20: 41
Science
Roscosmos reported air leakage on the Russian segment of the ISS
Photo: telegram channel "State Corporation" Roscosmos "
Air leakage occurred on the Russian segment of the ISS, the crew and the station itself is not threatened.
This writes TASS with reference to the press service of Roscosmos.
“Indeed, experts fix the leakage of air on board the ISS.
The crew regularly carries out work to find and eliminate possible leakage sites, and the data coming from the station are transmitted for analysis to specialists in the normal mode, ” the state corporation said.
According to "Interfax" with reference to the head of the NASA program on the ISS Joel Montalbano, the leak is observed in the tail part of the ISS.
“We saw that the leak increased about a week before the last launch of Progress and its docking with the station, ” he said.
The head of the NASA program on the ISS said that the air in the transition chamber of the Zvezda module began to leave twice as fast.
According to Montalbano, experts are in contact with Russian colleagues on the next steps.
However, this situation does not affect the safety of the crew, he said.
Last year, Russian cosmonauts Oleg Kononenko and Nikolai Chub in outer space disconnected the faulty circuit of the additional radiator on the module "Science" from the main circuit of the module.
Before that, they went into outer space, opening the exit hatch of the module "Search" of the International Space Station.
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Air leak first detected in September 2019 in Zvezda module.

Air leak first identified in August 2020 in transition chamber of Zvezda.

Air leak detected on 18 January 2024 in Zvezda module.

Air leak discovered 1 January 2025 in Zvezda module.

Leak caused by small crack in Zvezda module.

Crack located in transition chamber of Zvezda.

Cracks in hull suspected to cause air loss.

Possible collision with space debris or detached seals.

Crack in metal wall identified by tea‑bag test.

Temporary patch applied in October 2023.

Crew patched cracks with tape, but pressure fell.

Crew applied sealant to crack, permanently fixing leak.

Repair will begin after Progress cargo ship delivers supplies.

Repair performed by Russian crew after delivery.

Leak remains after patch.

No permanent repair reported yet.

No immediate repair performed yet.

Leak not fully fixed.

Leak monitoring ongoing.

Leak detected in Russian segment of ISS tail section.

Air leak first detected in September 2019 in Zvezda module.

Title:

Content: Links for simplified access
ISS crew reports smoke and smell of burnt plastic
In the Russian module “Zvezda ” on the International space station (ISS) last night worked fire alarm, reports RIA“ Novosti ” with reference to the negotiations of the crew with the Earth, which broadcasts NASA.
Around five in the morning Moscow time, cosmonaut Oleg Novitsky told the Mission Control Center about the smoke and smell of burnt plastic.
After that, the devices showed the presence of harmful substances in the area of the medical cabinet in the Zvezda module.
French astronaut Tom Pesquet said that the smell of burnt plastic or electronics also penetrated the American segment of the ISS due to the working ventilation.
The source of the smoke and smell has not yet been identified.
The ISS included a system for removing harmful impurities.
Later, Roscosmos said that the smoke sensor and alarm system worked on the ISS “during automatic recharging of batteries. ”
Currently, all systems of the station are working normally, the department notes.
The Russian service module Zvezda docked to the ISS in July 2000.
Its main frame was built in the 1980s as the core of the Mir-2 space station, which was to replace the Mir station, but then it was decided to use it in the ISS program.
Zvezda allows a crew of three cosmonauts to stay in space, and the module can also dock with the Progress cargo ship, which once every three months delivers the necessary supplies to the station and adjusts its orbit.
In the fall of 2019, an air leak was recorded on the ISS.
A year later, the leakage rate increased fivefold.
Sequential sealing of the station compartments allowed us to establish that the cause of the leak was a crack in the Russian segment of the ISS - Zvezda.
The astronauts sealed it with a sealant, but the air leak continued.
Recently, during the survey of the International Space Station, cosmonauts found non-through cracks on the oldest module - "Dawn".
At the end of July, a meeting of the Presidium of the Scientific and Technical Council of Roscosmos took place, where it was noted that the station is breathing on incense.
The International Space Station will expire in 2024.
Earlier, Vladimir Solovyov, General Designer of the Energia Rocket and Space Corporation, predicted an avalanche of failure of numerous elements at the station after 2025.
This mainly concerns the tightness of the housing and complex computing facilities that have developed their resource, Solovyov noted.
XS
SM
MD
LG

Title:

Content: The Russian module of the ISS “Zvezda ” can be completely isolated due to air leakage
reads: 670
23.01.2022 23: 30
The Russian Zvezda module, which is one of the modules of the Russian segment of the International Space Station, could be permanently isolated due to air leakage.
This was reported by NASA Director for the ISS Robin Gatens, reports “Interfax ”.
She said that the situation with the module does not yet pose a serious threat to the ISS, but in the worst case, is considering the option of complete isolation of the “Star ”.
According to Gatens, NASA and Roscosmos are working together to eliminate air leakage in the module, but due to the small size of the crack, it is difficult to detect detectors and ultrasonic diagnostic tools.
In turn, Roscosmos said that the concern of their colleagues on the ISS “is not justified and is surprising. ”
According to the Russian Ministry, the cosmonauts found the site of the leak at the end of last month.
They promise to fix the problem when the Progress cargo ship delivers materials to the ISS.
Note that in the Russian segment of the space station repeatedly there were problems and other problems.
For the first time, an air leak in one of the modules was detected in September 2019, in October 2020, a crack was detected in the camera of the Zvezda module.
Recall that earlier it was reported that at the end of July 2021, after docking the Russian module “Science ” to the International space station, it turned on the engines, because of which the station began to move chaotically and for a time lost control over the orientation of the ISS.
Wikipedia: The International Space Station, Inc.
International Space Station (ISS).
ISS) is a manned orbital station used as a multi-purpose space research complex; it is operated from the end of 1998 to the present (the countries agreed to operate through 2024 inclusive, the extension of the period of operation to 2028, 2030 is being considered).
The ISS is a joint international project involving 14 countries: Russia, the United States, Japan, Canada and members of the European Space Agency Belgium, Germany, Denmark, Spain, Italy, the Netherlands, Norway, France, Switzerland, Sweden (originally the participants were Brazil and the United Kingdom).
The ISS is controlled by the Russian segment from the Space Flight Control Center in Korolev, the American segment from the Lyndon Johnson Flight Control Center in Houston.
The European Columbus and Japanese Kibo modules are controlled by the European Space Agency (Oberpfaffenhofen, Germany) and the Japan Aerospace Exploration Agency (Tsukuba).
There is a constant exchange of information between the centers.
Photofact

Air leak first identified in August 2020 in transition chamber of Zvezda.

Title:

Content: How did a bag of tea help astronauts save $150 billion?
How did a bag of tea help astronauts save $150 billion?
A few years ago, a torn bag helped save the ISS
The International Space Station was built in 1998 for $150 billion.
Every year, another 3-4 billion dollars are spent to maintain its operability, but the design is already very old and needs repair more and more often.
For example, in August 2020, a pressure drop was recorded aboard the space station, which is a sign of an air leak.
All astronauts and cosmonauts on board were isolated in the Russian Zvezda module.
After some time, it was found out that the air-permeable crack was in the module in which the entire crew temporarily settled.
One of the Russian cosmonauts was able to quickly find the place of leakage with the help of a usual tea bag.
Oxygen on the ISS
According to the India Times, the space station loses about 250 grams of oxygen every day and this is normal - it is difficult to achieve complete tightness.
In the event of an acute shortage of oxygen, it is delivered by cargo ships, but is most often produced directly at the station.
In the second case, members of the ISS use electrolysis - an electric current is passed through the water, as a result of which oxygen appears.
To do this, on board there is a life support system ECLSS, which not only monitors the operation of the station, but also provides people with access to water, protects against fires and so on.
ECLSS technical director Robyn Carrasquillo once praised Russia for using a way to extract moisture from the air, even in the old Salyut and Mir spacecraft.
ECLSS system
Oxygen leakage to the ISS
In August 2020, the space station began to lose about a kilogram of air per day.
The situation was serious, but the lives of the ISS crew were not threatened.
Astronauts from different countries temporarily began to live in the Russian module “Zvezda ” and for four days searched for a leak in other parts of the station.
The search did not give any results, so it became clear that the gap is in the Zvezda module launched more than 20 years ago.
The leak could have occurred for various reasons, for example, due to the collision of the ISS with space debris, which is a lot in near-Earth space.
Also, it was not excluded that seals simply peeled off from the walls of the station, which just do not allow oxygen to leak.
ISS module "Zvezda"
Search for the place of oxygen leakage
An unusual way to find the leak was found by cosmonaut Anatoly Ivanishin.
He installed several cameras in the module and opened the tea bag.
After some time, the ISS members noticed that the tea leaves began to move slowly towards one of the metal walls of the module.
After studying the trajectory of the leaves, the space crew quickly found the crack formed on the ISS.
First, they taped this place with tape, and then got permission to use a drill and sealant.
It is known that thanks to the trick with a package of tea, the astronauts managed to save about 150 billion dollars.
Russian cosmonaut Anatoly Ivanishin
The International Space Station is aging and will one day become completely unusable – that ’ s a fact.
New cracks were discovered even in 2021.
Especially there are many of them in the Russian module “Zarya ”, which was launched into space in 1998 and today is the oldest part of the station.
More recently, Vladimir Solovyov, General Designer of the Energia Rocket and Space Corporation, announced his concerns about the safety of the station.
It is especially frightening that the station is planned to be used even after 2025.
In theory, the use of the old station could cause a terrible disaster.
ISS module "Zarya"
Finally, I note that to replace the old module "Dawn" it was planned to send the module "Science".
But it became an independent module and docked to the ISS in July 2021.
The docking was far from perfect - the module deployed the station at 45 degrees.
19 october 2021 /
• 0
Similar news
Why not bring alcohol to the ISS?
Alcohol is officially banned on the ISS, but space researchers have found many ways to carry it with them.
Cognac is very popular with them, but it makes no sense to take beer with you.
And all
China has launched an apparatus to collect lunar soil.
When will he return to Earth?
China has successfully launched to the moon the apparatus “Chang ’ e-5 ” to collect soil samples.
This is the first such mission in 44 years, and if all goes well, China will become the third country to do so.
Russia is developing its own space station.
What will it look like?
The International Space Station was launched into orbit around our planet in 1998.
Initially, it was planned that it will work for 20 years, but subsequently the period of its use was extended.
According to the opinion
On the ISS found a place of air leakage.
What's next?
Inside the International Space Station live astronauts from different countries and they all need oxygen.
The air necessary for the life of the crew is produced by special equipment, but
Space debris nearly damaged the ISS.
How did it all work out?
Humanity began to actively explore space with the help of complex technology around the middle of the 20th century.
First, hundreds were launched into Earth orbit every year, and then thousands began to be launched.
How does space affect human vision and movement?
the brain, like the heart, is one of the main organs of the human body.
It consists of many areas, each of which has certain tasks.
Take the brain for example, this
Comments
Popular news
Immersive exhibition of Claude Monet - a complete immersion in the world of the great impressionist In 2023, NASA will launch a new lunar rover VIPER into space.
What's he gonna do?
The Vasimr nuclear rocket will take humans to Mars in one month.
Frank Woolworth, creator of price tags and supermarkets Developed the smallest aircraft.
What is it for? A Japanese cafe became famous all over the world with a toilet in the aquarium "Rain Drops" by Samuel Salcedo in the park of the city of EtretaThis picture of Renoir made a lot of noise... and three times!

Title:

Content: On the ISS found a place of possible air leakage in the module “Star ”
On the International Space Station, a place of possible air leakage in the Zvezda module was discovered.
The discovery of a "suspicious" place in the module compartment was reported by cosmonaut Pyotr Dubrov during negotiations with the Flight Control Center.
“There was a suspicious place.
I was engaged in photographing it under a microscope with magnifying glasses, ” the cosmonaut quoted Interfax as saying.
Recall that in August 2020, air leakage to the ISS was detected in the transition chamber of the Zvezda module.
In October last year, cosmonauts managed to find the crack and repair it with temporary means.
In August 2021, the media reported the detection of non-through cracks in the Russian module of the ISS "Zarya".
Executive Director of Roscosmos for manned programs Sergei Krikalev said then that he had no information about new cracks at the station.
At the same time, the representative of the state corporation noted that even in the presence of non-through cracks, the ISS can be operated for another 20 years.
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Is the ISS going to be a space hotel?

Air leak detected on 18 January 2024 in Zvezda module.

Title:

Content: Ribbon
January 19 00: 04
All news
pxhere.com
Moscow, January 18.
Astronauts of the Russian segment of the International Space Station have discovered a possible place of air leakage in the chamber of the Zvezda module.
The relevant data follows from the material published by the press service of Roscosmos.
It is known that soon the nearest cargo ship "Progress" will be delivered to the ISS means of eliminating leakage.
After that, the Russian cosmonauts will immediately begin the final elimination of the cause of the leak.
"The means of eliminating non-hermeticity are planned to be delivered on the nearest Progress cargo ship, after which the cosmonauts will begin the final elimination of the leak," Roscosmos said.
Earlier, Russian cosmonauts Peter Dubrov and Anton Shkaplerov discovered a potential last place of air leakage in the Zvezda module.
Specialists will be able to restore its tightness as soon as Progress delivers the necessary equipment to the station.
Go back
Comment

Air leak discovered 1 January 2025 in Zvezda module.

Title:

Content: Ribbon
01 January 07: 01
All news
vk.com / Cosmonaut Ivan Wagner
Moscow, January 1.
Russian cosmonauts Pyotr Dubrov and Anton Shkaplerov discovered in the Zvezda module on the International Space Station, presumably the last place of air leakage.
This was reported in the press service of Roscosmos.
The first small leak was discovered on the ISS back in 2019, since then, astronauts have been monitoring the situation and eliminating cracks in the hull.
Experts know how to return the module tightness.
This will be done as soon as Progress delivers the necessary equipment to orbit.
“Russian cosmonauts Peter Dubrov and Anton Shkaplerov found a possible last place of air leakage in the intermediate chamber of the service module“ Star ” of the Russian segment of the ISS ”, — stated in the message.
Russian President Vladimir Putin previously admitted the possibility of continuing the operation of the ISS after 2024.
This is necessary to maintain high launch activity.
Go back
Comment

Leak caused by small crack in Zvezda module.

Crack located in transition chamber of Zvezda.

Cracks in hull suspected to cause air loss.

Possible collision with space debris or detached seals.

Crack in metal wall identified by tea‑bag test.

Temporary patch applied in October 2023.

Crew patched cracks with tape, but pressure fell.

Title:

Content: 22: 04, 31 December 2021
The Russian crew found the alleged site of air leakage on the International space station
It is located in the module “Star ”, said in“ Roscosmos ”.
The cosmonauts will begin repair work after the nearest Progress cargo ship will deliver the necessary funds to them, the state corporation said.
Today, during the congratulations of the Russian participants of the expedition to the ISS, the head of Roscosmos, Dmitry Rogozin, spoke about the problems faced by the astronauts.
Air leakage at the station was recorded more than two years ago.
Since then, crew members have found several cracks and reported that they were able to seal them.
However, the pressure on the station continued to fall.
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On the air today

Crew applied sealant to crack, permanently fixing leak.

Repair will begin after Progress cargo ship delivers supplies.

Repair performed by Russian crew after delivery.

Leak remains after patch.

Title:

Content: 29 Feb, 2024 11:18

Russia comments on space station leak

A NASA official had previously reported that air loss from the Zvezda module had doubled

Air leaking from a segment of the International Space Station (ISS) poses no risk to its crew or the orbital outpost, the Russian space agency Roscosmos has said.

A NASA official had previously reported that the rate at which air was escaping from the satellite's Russian Zvezda module under certain circumstances had doubled. The situation is under control and being constantly monitored, the Roscosmos told Interfax on Wednesday, when asked about remarks by NASA’s ISS program manager, Joel Montalbano,.

”The aging of the station’s structure and the growing need for repair and maintenance work on board require a significant portion of the crew’s time,” Roscosmos said.

Montalbano mentioned the issue during this week’s briefing on the upcoming SpaceX Crew-8 mission, which is scheduled for launch on Friday.

”There is an area in the aft end of the International Space Station. [There is] a small leak. We’ve seen this leak increase about a week before the recent Progress launch and docking,” he said, referring to a Russian automatic supply freighter.

The volume of lost air has increased to about two pounds a day, compared to a pound a day previously, Montalbano said.

”The hatch is closed in that area. It’s not an impact on Crew-8, but I didn’t want anyone to be surprised, if they hear about that later,” he explained.

The use of the module for retrieving the Progress shipment didn’t pose any issues in terms of the leak, he said. The next opening of the hatch is expected in April. While it’s closed, the rest of the station is “solid.”

Technical issues at the ISS are being reported on a regular basis. Roscosmos has said the age of the station is a key reason why it is developing plans for a new purely Russian-manned orbital structure as an alternative to participating in the international project.

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0:00
27:58
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26:56

No permanent repair reported yet.

No immediate repair performed yet.

Leak not fully fixed.

Leak monitoring ongoing.

Leak detected in Russian segment of ISS tail section.

Title:

Content: NEWS
NEWS
February 28, 20: 41
Science
Roscosmos reported air leakage on the Russian segment of the ISS
Photo: telegram channel "State Corporation" Roscosmos "
Air leakage occurred on the Russian segment of the ISS, the crew and the station itself is not threatened.
This writes TASS with reference to the press service of Roscosmos.
“Indeed, experts fix the leakage of air on board the ISS.
The crew regularly carries out work to find and eliminate possible leakage sites, and the data coming from the station are transmitted for analysis to specialists in the normal mode, ” the state corporation said.
According to "Interfax" with reference to the head of the NASA program on the ISS Joel Montalbano, the leak is observed in the tail part of the ISS.
“We saw that the leak increased about a week before the last launch of Progress and its docking with the station, ” he said.
The head of the NASA program on the ISS said that the air in the transition chamber of the Zvezda module began to leave twice as fast.
According to Montalbano, experts are in contact with Russian colleagues on the next steps.
However, this situation does not affect the safety of the crew, he said.
Last year, Russian cosmonauts Oleg Kononenko and Nikolai Chub in outer space disconnected the faulty circuit of the additional radiator on the module "Science" from the main circuit of the module.
Before that, they went into outer space, opening the exit hatch of the module "Search" of the International Space Station.
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Amway, Herbalife, Nuskin, USANA, Primerica, Medifast are MLM companies.

Herbalife, Nuskin, USANA, Primerica, Medifast all experienced YTD profit declines.

Avon shifted to MLM in 2000, revenue fell, stock dropped, sold NA business to LG.

Avon sold global business to Natura; Natura stock fell, Avon now sells MLM.

Tupperware added then removed MLM products, sold in Target, stock fell 90%.

Tupperware income: half inactive <$30, active average $12/week.

MLM revenue comes from inventory purchases; top 1% earn majority commissions.

MLM companies have 90-99% churn; low ranks lose money.

Avon and Tupperware left DSA in 2013-14 due to ethics violations.

MLM companies trade on Wall Street; billions in shares.

Suntech VIP MLM profits quadruple to $8 million.

PM-International ranked 10th worldwide 2021, 30+ subsidiaries.

SUIC Midas Touch partners with 20 PSPs, targeting $20B sales, $8M profit.

Midas Touch emergency funds succeeded during pandemic.

Midas Touch uses DeFi models to boost customer lifetime value.

SUIC Midas aims for $160 million net profit, $20 billion sales.

EDUC uses MLM for Usborne books.

95% of EDUC revenue comes from MLM.

EDUC consultants grew 33k→60k during pandemic.

EDUC dividend rose from $0.20 to $0.32.

Amway, Herbalife, Nuskin, USANA, Primerica, Medifast are MLM companies.

Title:

Content: 'Direct Selling' - Avon, Tupperware - Is Extinct

Nov. 18, 2022 11:25 AM ETHLF, MED, NTCO, NUS, PRI, TUP, USNA3 Comments
Robert FitzPatrick
394 Followers

Summary

  • Direct Selling became obsolete generations ago. So how is it that millions today get recruited for "income opportunity" in "direct selling" and billions are traded on "direct selling" stocks?
  • Avon and Tupperware are cited by "multi-level marketing," or MLM, promoters as "proof" that MLM, e.g., Amway, Herbalife, is "direct selling."
  • Usable data on actual income and churn rates of MLM "direct sellers," market saturation, and retail sales to actual customers are not provided.
  • In fact, Avon and Tupperware for years have been walking dinosaurs, still trying to do "person-to-person" sales to end-users with commodity products, while MLMs hype "unlimited" income.
  • The shrunken and devolved state of Avon and Tupperware today reveals that direct selling is extinct. MLM is not, and never was, direct selling.

It is generally accepted that "direct selling" was killed off generations ago by mass merchandising, big box stores, mail-order and then the internet, among other societal changes. The "Fuller Brush man" is long gone. No one's at home. No one wants or needs or has time for a "personal" salesperson. Everything's in stores or online. And, even when "direct selling" still lived, no one ever went into that tough line of work thinking they would get rich from it.

Yet, each year, millions are recruited, and pay thousands, for the "opportunity" to work as "direct sellers," with promises and expectations of "unlimited" income. The number involved today is many, many times greater than ever worked in that "extinct" field decades ago. Billions are being traded on Wall Street for shares of "direct selling" companies. How can this be?

In my book, Ponzinomics, the Untold Story of Multi-Level Marketing, I document the death of "direct selling" and the 1945 invention of "multi-level marketing," or MLM. I describe how "MLM" falsely assumed direct selling's revered old identity. I trace MLM from its Adam, a little California-based company called "Nutrilite," to today's "industry" led by Amway, Herbalife (HLF) down 64% YTD, Nuskin (NUS) down 31%, USANA Health Sciences (USNA) down 49%, Primerica, Inc. (PRI) down 13%, and Medifast (MED) down 45%. MLM's financial solicitations for consumers to become "direct sellers" have reached into – and led to losses for – virtually every household in America.

In the newly invented "MLM," the main source of revenue shifted from end-user customers to the salespeople themselves who are incentivized to "be their own customer" by buying their own products. Obviously, no one makes money purchasing their own inventory, but MLM offered a unique reason to do so – "unlimited" income potential.

No More Need to Knock on Doors

All MLM "direct sellers" can potentially gain "unlimited" income by recruiting an "endless" chain of other "direct sellers." No need to pound the pavement and get rudely rejected at front doors any more. Each "direct seller" on the chain has to meet a quota to "qualify" for future rewards from their recruits who, in turn, are their "own customers" and recruiters too, ad infinitum. The chain can grow without continuous personal effort. The qualifying quota can usually be met by just making a personal monthly purchase of inventory. "Commissions" on all these transactions, all the way down to the "last ones in," flow up the chain. In the MLM pay plan, most of the total commissions go to the top 1%. So, all new "direct sellers" try mightily to recruit (and buy) their way to those top ranks. Of course, only a tiny few can ever be at the top.

Some people argued this is a pyramid recruiting scheme, inherently unfair and deceptive, and a counterfeit of direct selling. In the design and the pay plan, bottom ranks – the vast majority – will inevitably lose. They said constantly adding salespeople in any area destroys profitable retail selling potential, if any exists to start with. They cited data on 90-99% loss rates and huge churn rates among new "recruits" and asked, where are the retail "customers"?

While offering no data on retail customers or salespeople losses or market saturation, MLM promoters offered "proof" that MLM is direct selling by pointing to two long-established and respected direct selling companies in their ranks, Avon and Tupperware (TUP). Both companies were members of the Direct Selling Association, DSA, and both were "direct selling" icons, Avon for its "ladies" and Tupperware for its "parties." To any pyramid scheme accusations, MLM promoters indignantly countered: "Are you calling Avon and Tupperware pyramid schemes?"

Walking Dinosaurs

The truth for both companies is very different from the MLM-spin. Avon and Tupperware used to have differentiated products and real consumer demand. Their salespeople made money from their own retail sales. But moving into the 21st Century, Avon and Tupperware became walking dinosaurs, vestiges of the extinct era of "direct selling." They were still trying to base their businesses on their historical brands and on person-to-person retail sales to real customers, as direct selling companies always used to do.

Despite MLM's citing Avon and Tupperware, and thereby bestowing legitimacy on the "MLM" members of the Direct Selling Association, deep differences between those icons of the old era and MLM burst into public view in 2013-14. The two companies publicly quit the Direct Selling Association, charging ethics violations and DSA-member connections to pyramid schemes.

Avon's Long Good-Bye

Avon had been a true direct seller for decades before MLM was invented. But as the door-to-door model faded, Avon began a long decline. In 2000, Avon began shifting its focus to "incentivizing" salespeople to recruit more salespeople and getting them to buy inventory, MLM-style. In 2009, during the Great Recession, Avon ran its most expensive ad in history, on television during the Super Bowl. The ad never mentioned any Avon products! It only solicited "salespeople." Still, global revenue dropped continuously over the next 10 years. Avon stock value fell from over $30 to just over $3.

Finally, Avon split off its faltering North American business and sold it to the Korean company, LG Household & Health Care. Avon claimed to have 250,000 sales representatives in North America. The remaining global business was later sold to the Brazilian MLM, Natura (NTCO) down 50% YTD, which also owns the retailer, Body Shop. Though Avon global was much larger, Avon shareholders traded 3 shares of Avon for just one in Natura.

The Korean-owned segment of Avon in North America is now classic MLM, selling the proverbial MLM "income opportunity" along with "health" supplements, make-up, jewelry, clothing, scented candles, even toothpaste.

On the Canadian Avon website, Avon promotes the "income opportunity," urging prospects in large bold black type: "Think big. Sell Avon part-time, full-time, you decide how much! It’s your business, your way!"

A disclosure (legally required in Canada, but not in the USA) appears midway down a long webpage in tiny, barely visible gray lettering: "The 2020 earnings of a typical Avon Leadership Representative was between $0 and $2,620 in commissions and bonuses." That's $0 to $50 a week, before subtracting all costs! And the "disclosure" does not break out how much of that tiny return comes from personal sales or the "downline."

Avon quietly rejoined the Direct Selling Association. The Brazilian company, Natura, which took over Avon's global business in 2020, has lost over 60% of its stock value in the last year.

Tupperware on the Brink

Tupperware was one of the first "party plan" companies, which are technically a small subset of MLM. They employ an "endless" recruiting chain, but are more rooted in retail sales transacted at "parties." Tupperware used to have a popular brand with innovative, differentiated products. But, as true direct selling began to disappear, Tupperware went into decline. It added MLM-type "health and beauty" commodities to bolster recruiting appeal but then deleted them. This year, it began also selling its products in Target department stores. Its kitchen-related goods are generally not distinct from other brands. A 10-months "Income disclosure" for Canada (not published in the USA) showed that half the "party planners" were classified "inactive," earning less than $30 for the period on average. 94% of the "active" ones reportedly received about $12 a week on average, before expenses.

In the last 5 years, the stock value of Tupperware has dropped over 90%. Its latest financials warned investors the company may violate loan agreements, setting off speculation Tupperware might declare bankruptcy.

The shrunken and devolved state of Avon and Tupperware, the most famous brand-icons of "direct selling," makes citing them as a defense of "multi-level marketing" as extinct as their old business model.

This article was written by

394 Followers
Robert L. FitzPatrick is the author of the new book, Ponzinomics, the Untold Story of Multi-Level Marketing (2020),the first comprehensive history and analysis of the "MLM" phenomenon, addressing its political influence, propaganda techniques and use of cult persuasion. FitzPatrick is an expert in examining and revealing deception and fraud in Ponzi schemes, pyramid schemes and bogus home-based businesses. He served as expert or consultant in more than 30 court cases involving pyramid schemes and multi-level marketing. He is co-author of False Profits (1997), an examination of the values and beliefs that support the delusions of pyramid schemes. He was featured on NBC Dateline, ABC World News, and CBS 60 Minutes, the documentary film, Betting on Zero and the podcast, The Dream.He has been quoted in many newspapers around the world, including the New York Times and Wall Street Journal. His booklet, Pyramid Nation, has been translated to Chinese and used by government regulators in writing China's first laws on pyramid schemes. His booklet, "The 10 Big Lies of Multi-Level Marketing", has been translated into four languages and posted on numerous websites. His White Paper, "The Main Street Bubble", which details the extensive influence-buying of the direct selling industry was featured in a CNBC Documentary, Selling the American Dream. In 2005, he delivered a seminar to in Colombo, Sri Lanka to central banking representatives from that country as well as India, Bangladesh, Bhutan, Maldives and Nepal. Robert FitzPatrick has developed informational resources for consumers, journalists, academics and regulators including a multi-media PowerPoint presentation and a statistical analysis of the losses suffered by participants in pyramid selling schemes. He also published a widely read booklet on the landmark federal case brought against the Amway Corporation. He is a expert network member of GLG Research, and Coleman Research Group, as well as other networks of experts who are referred to clients for consultation, speaking and report writing. In this capacity, he has provided expert consultation to financial many analysts who sought information about multi-level marketing companies and pyramid and Ponzi schemes. Robert FitzPatrick co-founded and serves as president of Pyramid Scheme Alert, the first international organization to expose and prevent pyramid scheme fraud. He personally responds to hundreds of consumer and news media inquiries each year. He has served as consultant and expert witness for Attorney General or State Attorney offices in four states, the US Dept. of Justice, and in numerous cases involving distributor fraud and pyramid schemes. Robert FitzPatrick is not an investor in multi-level marketing companies. He has never owned and never plans to own stocks of multi-level marketing companies. He has never been compensated based on any stock's performance. He does not offer investment advice and he is not an attorney.

Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure: This article is for educational purposes only. It discusses fundamentals of the "direct selling" business model and the evolution of "multi-level marketing."

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Herbalife, Nuskin, USANA, Primerica, Medifast all experienced YTD profit declines.

Avon shifted to MLM in 2000, revenue fell, stock dropped, sold NA business to LG.

Avon sold global business to Natura; Natura stock fell, Avon now sells MLM.

Tupperware added then removed MLM products, sold in Target, stock fell 90%.

Tupperware income: half inactive <$30, active average $12/week.

MLM revenue comes from inventory purchases; top 1% earn majority commissions.

MLM companies have 90-99% churn; low ranks lose money.

Avon and Tupperware left DSA in 2013-14 due to ethics violations.

MLM companies trade on Wall Street; billions in shares.

Suntech VIP MLM profits quadruple to $8 million.

Title:

Content: SUIC, Midas's Partner Suntech Has Successfully Introduced Customized Products and Services To Its VIP Multiple Level Marketing Companies. Suntech Estimates To Quadruple Profits to $8 Million. SUIC Midas Will Partner With 20 Global PSP Partners in 2022 To

Autor: Accesswire
21.09.2021, 12:00  |   |   |

NEW YORK, NY / ACCESSWIRE / September 21, 2021 / Sino United Worldwide Consolidated Ltd. (OTC PINK:SUIC) and Midas Touch's PSP partner in Taiwan, Suntech, has successfully introduced the four products and services to its existing VIP MLM customers. …

NEW YORK, NY / ACCESSWIRE / September 21, 2021 / Sino United Worldwide Consolidated Ltd. (OTC PINK:SUIC) and Midas Touch's PSP partner in Taiwan, Suntech, has successfully introduced the four products and services to its existing VIP MLM customers. Suntech estimates To quadruple profits to $8 Million. SUIC Midas Touch will partner with 20 global PSP partners in 2022 to promote these products and services.

Suntech Taiwan is the largest Taiwan O2O Company, with over 50,000 Merchants and 15 Million users. Suntech Taiwan is going to lead these VIP MLM companies' enterprise-wide business transformation and design exclusive product and service packages. These MLM companies include: PM-International, Taiwan, which is a branch of PM-International AG, Luxembourg. It has more than 30 subsidiaries in more than 40 countries. It provides high-quality nutritious and fitness foods and beauty care products carried through its own brands. PM-International has been recognized as one the Top 100 Direct Sales companies worldwide and is currently ranked 10th in 2021; and the Tsingshan Group of Companies has ten major business groups with a global scope covering more than 30 countries around the world. The holding group has captured the focus of major international media. Among the accolades it has gathered over the decades, its biotechnology company has received high recognition and won, among others, the Taiwan Biotechnology Award, the Taiwan's No. 1 Brand Award, and the Taiwan Golden Quality Award.

"Thanks to the breakthrough innovations and products of SUIC, Midas Touch, Suntech is estimating an increase in net profits to four-fold, expected to reach $8 million on its $1 billion sales turnover. Midas Touch products and services provide instant, emergency funds for our partner merchants and customers. This has been a big success especially during this critical period of pandemic. We are set to increase customer lifetime value with our advanced DeFi business models and strategies," says Joa Chen, Suntech's General Manager.

SUIC Midas is now finalizing and identifying additional 20 PSP partners this year through 2022, with over two million merchants that will bring an aggregate sales turnover of $20 billion, generating $8 million profits for each of the PSP partners as a result. SUIC Midas Touch will fully support these 20 PSP's to earn a total of $160 million in net profits and achieve a total $20 billion in aggregate sales turnover.

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Disclaimer

SUIC, Midas's Partner Suntech Has Successfully Introduced Customized Products and Services To Its VIP Multiple Level Marketing Companies. Suntech Estimates To Quadruple Profits to $8 Million. SUIC Midas Will Partner With 20 Global PSP Partners in 2022 To NEW YORK, NY / ACCESSWIRE / September 21, 2021 / Sino United Worldwide Consolidated Ltd. (OTC PINK:SUIC) and Midas Touch's PSP partner in Taiwan, Suntech, has successfully introduced the four products and services to its existing VIP MLM customers. …

Nachrichten des Autors

Titel
Titel
Titel
Titel

PM-International ranked 10th worldwide 2021, 30+ subsidiaries.

SUIC Midas Touch partners with 20 PSPs, targeting $20B sales, $8M profit.

Midas Touch emergency funds succeeded during pandemic.

Midas Touch uses DeFi models to boost customer lifetime value.

SUIC Midas aims for $160 million net profit, $20 billion sales.

EDUC uses MLM for Usborne books.

Title:

Content: Educational Development Corp.: Growth Risk Might Be Overblown

Moat Investing
1.46K Followers

Summary

  • EDUC is the exclusive US co-publisher of educational children's books produced by famous Usborne Publishing by leveraging multilevel marketing (MLM) strategy.
  • It has strong fundamentals, fair valuation, and a compelling growth story that is being ignored by the market.
  • We arrived at a target price of $12.4 to $14.6 without incorporating any future growth and expansion in operating margins.

Investment Idea

Educational Development Corporation (NASDAQ:EDUC) has an attractive value proposition, strong financials, and optionality of significant growth ahead due to structural changes caused by COVID. On top of that, the valuation is reasonable, and management has skin in the game (owns 23% of shares outstanding). For these reasons, we remain bullish.

Business Overview

EDUC is the exclusive US co-publisher of educational children's books produced in the UK by Usborne Publishing, and EDUC also exclusively publishes books through their ownership of Kane Miller.

The business operates in two segments:

Home Business Division (Usborne Books & More or "UBAM") -(95% of revenues) - This segment sells books through consultants directly to consumers using a multilevel marketing model (MLM). Consultants sell books by hosting home parties, social media, and hosting book fairs with schools and public libraries.

Publishing Division – (5% of revenues) - Sells books to bookstores, toy stores, and other retail outlets.

If you would like to get the gist of our thesis, you can watch our YouTube video below.

Value Proposition

The children's books market is very competitive and fragmented. There are more than 135 publishers of children's books in the US. EDUC is competing with Scholastic and Pearson, which have extensive resources to run marketing campaigns and are well-positioned in both online and offline distribution channels. Although EDUC has a little moat, they have some strengths to their business model that will allow long-term value creation.

They have an exclusive and long-term relationship with Usborne. Therefore, clients of the Usborne in the US must acquire their books via EDUC. Also, there is a consensus that Usborne books are high quality and among the industry's best.

Their sales are a function of the number of active sales consultants. Commissions paid to consultants are a variable cost, and they are only paid when sales are made. Although this makes SG&A grow as the top line grows, since it's not a fixed cost to the business, it allows EDUC to achieve significant operating leverage. Also, it allows them to scale quickly and have flexibility.

Direct sales strategies like multilevel marketing are commonly referred to as pyramid and Ponzi schemes. However, the table below shows that it does work sustainably and increases revenue growth over the long run despite the negative press.

Source: S&P Capital IQ

Why might EDUC be mispriced?

There are multiple factors. Firstly, it's a micro-cap. This usually means there is limited analyst coverage, and due to the stock's illiquidity, there is low institutional interest. These factors, coupled with others, leave the company under the market radar despite its business is doing well and has promising perspectives.

Second, there is negative press around the MLM business models. The MLM model deployed by EDUC is vastly different from dodgy tactics used by other players. For example, many MLM models require the seller to purchase the inventory from the company before selling. However, this reduces the risk for the company and puts extra pressure on the seller, which can be left with expensive inventory that cannot be sold or returned. In the case of EDUC, there is no requirement to hold inventory.

Third, markets might be believing that the business's tailwinds are temporary due to COVID. Amidst Covid, schools were closed, and parents were working from home; this drove home-based learning and benefited EDUC. Additionally, unemployment rates soared, and many were left looking for work. This allowed EDUC almost to double its consultant count from 33 to 60 thousand. We believe the post-pandemic work from home trend will persist, supporting their sales. Furthermore, the active consultant might not fall back to the pre-pandemic level as these roles are usually part-time work which fits nicely with the trending gig economy.

The evidence speaks louder than words

There are also some clues from the management that revenue generated amidst pandemics might be sticky.

Management increased its dividend per share from $0.20 to $0.32. A dividend increase should be seen as a signal that a business is in solid financial shape and management is confident about its future.

Management increased capital expenditures to $4.15 million from $0.64 in 2020. This expenditure was primarily associated with equipment purchases to increase daily shipping capacity. These are some early signs that management is expecting positive growth going ahead. Additionally, this also improves their margins as amidst Covid they paid a premium for extra shifts.

EDUC has increased its inventory; the inventory build-up is approximately 60% of its total assets. This has been in anticipation of an increase in the sales, as it takes a four to six-month lead-time to have a title printed and delivered to them.

Source: Koyfin

Value Investing Approach: Asset Value

To calculate the actual asset value of the company, we tried to replicate the business from scratch. Therefore, below you will find the last reported balance sheet, where we have made some adjustments.

The value of the land recorded on books was $4.1 million. They own a 40-acre complex at 5402 South 122nd East Ave, Tulsa, with 400,000 square feet of office and warehouse space. They also own a facility located at 10302 East 55th Place, Tulsa, that has 105,000 square feet of usable space. According to our channel checks with realtors, the average price per square foot of their land lies between the range of $100 to $115. To remain conservative, we took the average price square feet to be $85. Therefore, we estimate the value of its land to be $42.9 million.

They also have a network of around 55,000 active consultants. To construct such a network from scratch is both costly and time-consuming. We estimate the replication cost of this network to be around $27.5 million ($500 per consultant). This is also roughly five months of sales commission cost incurred by EDUC in the fiscal year 2021.

The rest of the items are taken on book value.

Based on the above adjustment, we arrive at the total asset value of 106.7, and the fair value per share to be $12.4

Source: Moat Investing

Value Investing Approach: Earnings Power Value

This approach allows us to value EDUC without incorporating any growth. Here, we consider the business's historical figures (last five years) to get the normalized earnings and operating margin. To calculate the sustainable earnings, we smoothed out the company revenues for the previous five years to $131 million and then calculated the firm's average operating margin (6.5%) to arrive at the sustainable Operating Income of $8.5 million.

We add back the expenses typically spent on growth, and we estimate around 4.5% of sales is spent on growth marketing, i.e., promotion, advertisement, and discounts. Hence, we add this back as this expense is not required if the firm was not aiming to achieve growth.

We assume the normalized tax rate to be 26% and the estimated cost of equity at 9%. Therefore, we estimate Earning Power Value of the operating business to be $134 million. To that, we add the non-operational cash ($1.8 million), and we subtract long-term debt (10.8); we arrive at an implied market cap of $125.6 million or $14.6 price per share, with 12.3% upside potential, without incorporating any growth or expansion in operating margins.

Source: Moat Investing

Risks to Our Investment Case

  • Stringent regulation regarding MLM companies. For instance, the requirement to treat consultants as employees. This could have implication when it comes to taxation, wages paid and welfare concerns for workers. This could, in turn, shrink the bottom line or, worse, business model tatters.
  • The most straightforward risk is consultants quitting or switching to find other employment as the US economy improves. However, within our valuation model, we have smoothed the growth of revenue in the last five years, which is a function of l consultants recruited. Even if there is some mean reversion in terms of consultants working with EDUC due to the COVID base effect, our thesis would be less impacted.
  • As highlighted earlier EDUC’s inventory level is a significant portion of its asset. Whatever reason they become unsalable (i.e., change in taste or controversy in terms of published content) could impact our valuation.
  • Oil prices have increased significantly since last year (see below). Shipping costs are amongst the most significant component of its COGS; further rise in oil prices (consequently increasing shipping cost) could make it difficult for EDUC to remain profitable.

Source: Trading Economics

Conclusion

EDUC has an attractive value proposition, strong financials, and optionality of significant growth ahead due to structural changes caused by COVID. On top of that, the valuation is reasonable, management has skin in the game (owns 23% of shares outstanding), and investors are not even paying for any future growth at current prices. For these reasons, we remain bullish.

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Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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95% of EDUC revenue comes from MLM.

EDUC consultants grew 33k→60k during pandemic.

EDUC dividend rose from $0.20 to $0.32.