An unmanned Falcon 9 rocket owned by private spaceflight company SpaceX is still waiting for liftoff at Florida’s Cape Canaveral Air Force Station.

According to a report from NBC News, the rocket was initially scheduled for launch last Monday, but was delayed due to “unusual pressure readings in the rocket’s liquid oxygen tank.” The launch was then rescheduled for Thanksgiving Day, when the countdown ticked down and the engines ignited, only to be shut down when the flight computer noted a glitch with the launch and its “thrust ramp.”

Elon Musk, the billionaire CEO of SpaceX – as well as of the electric car company Tesla Motors – said that launch engineers wanted to look into the glitches in a bit more detail, just to be safe. SpaceX will spend the next few days inspecting the Falcon 9 rocket and its engines. As long as the issue that caused the launch glitch  is resolved, the rocket’s departure date should be rescheduled for the near future.

Since the SpaceX rocket is poised to carry a piece of precious cargo into space, the company wanted to be sure that the was no chance of catastrophic failure in the rocket launch. The cargo is a satellite for SES, one of the biggest satellite communications companies in the world. The company, based in Luxembourg, currently has a network of 54 individual telecom satellites in space. The new satellite is worth a hefty sum of $100 million and will expand the SES market share by providing superior TV, cable, and internet services to Asian markets. In other words, losing the satellite due to a launch error would be disastrous for SES.

The delayed Falcon 9 launch is also a key event for SpaceX. In the past, SES has mostly launched its satellites into orbit on the backs of Russian or European spacecraft. However, Musk and SpaceX were able to offer launch services to SES for only about $55 million, a major price cut compared to overseas competitors. If the launch goes well, SES will likely contract SpaceX again in the future, due in part to the cost effective nature of the arrangement.

Of course, if the rocket launch goes well, SpaceX may be able to raise its contract price. Part of the reason for the deep discount is that SpaceX has never launched a Falcon 9 rocket to the altitude necessary for a communications satellite to operate effectively. In other words, SpaceX and its Falcon 9 rocket are still relatively unproven entities in the space flight industry, and assuring that this launch goes off without a hitch could be a make or break scenario for the company.