Moller International’s Skycar for Sale on eBay
DAVIS, Calif.--(BUSINESS WIRE)--Moller International (OTCBB:MLER) announced today that its original four-passenger M400X prototype Skycar is going to be offered for sale on eBay. The auction is anticipated to start at 08:00 AM PDT, Monday, October 9, 2006.
“I have never felt so useless in my life.”
The Skycar is a new type of aircraft, which the Federal Aviation Administration (FAA) calls a "powered lift" aircraft. It is designed to carry four average-size passengers and take off and land vertically (VTOL), while being small enough to be driven on the street. It is designed to fly at a top speed of 380 MPH with a range of 750 miles. The Company believes that this original flight-tested prototype will sell on eBay for over $4 million.
The prototype M400X Skycar has only been test flown remotely for safety reasons and because the existing air-cooled single rotor engines provided limited excess power in case of an emergency. The Company is in the process of replacing the smaller engines with liquid-cooled twin rotor engines generating nearly twice the horsepower. This will allow safe tether free flights with an on-board pilot. The purchaser will own the M400X immediately, but take delivery following its demonstration press flight. The press flight is expected to be attended by over one thousand members of the media from agencies located around the world. Moller International is responsible for maintaining the purchased condition of the M400X up until the vehicle is delivered to the buyer.
The Skycar is a personal transportation alternative to the automobile. The technology behind its development required the expenditure of over $200 million in today's dollars and 1+ million hours of labor. This M400X Skycar prototype first flew successfully in 2002. It is the first and only M400X Skycar prototype and is being offered in its "as flown at the press flight" condition with all systems intact including command software, double redundant stability system, fly-by-wire controls and eight unique Rotapower engines.
The Skycar has been featured on major TV and cable networks including World News Tonight with Peter Jennings, The Smithsonian Institute series "Invention" on the Discovery Channel and recently as one of the "Ultimate Ten Machines" on The Learning Channel. It has also been featured as the cover story on Forbes FYI, Popular Mechanics, Popular Science, USA Today and numerous magazines and newspapers throughout the world.
According to the Company's President, Dr. Paul S. Moller, the Skycar in operation is remarkably simple to operate and is well portrayed in Clive Cussler's fictional novel “Atlantis Found” where, after an extensive series of computer-controlled M400 Skycar maneuvers, his action hero, Dirk Pitt, remarks that as a pilot "I have never felt so useless in my life."
The prototype can be delivered in its one-seat test flight configuration as flown or with four seats. Potential buyers are cautioned that this is a prototype model and considered an experimental aircraft. It has not obtained FAA certification and is subject to significant flight restrictions until approved. Further, the Skycar has not yet been approved as a road vehicle.
Moller International is a fully reporting public company and holds over 40 patents in transportation-related technologies. It has completed contracts with the National Air and Space Administration (NASA), Defense Advanced Research Projects Agency (DARPA), California Department of Transportation (CALTRANS), US Army Research Laboratory, the US Navy and US Air Force.
SAFE HARBOR STATEMENT
Except for historical matters contained herein, the matters discussed in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.