Satellites are expensive indeed, but they are, at the very minimum, cheaper than they used to be. Their cost to launch is also highly impacted by their size and mass, which, in the case of FemtoStar, are both very small numbers (being a sub-1U cubesat).

I should also clarify, Pine is a partner of the FemtoStar Project, but both are independent from each other and it's certainly not as if Pine is going it alone (in fact, the space segment is the job of the FemtoStar Project itself, not Pine). We currently have development funding from NLnet and focusing on developing the hardware this year while seeking funding for launch.

- The FemtoStar Project

Seems like that section of the FAQ really needs more details.

Wow they probably should have used phi instead of F so people don't get it confused with the F* language.