MLER News 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.
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.
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.
