Moller International Update:
Davis, CA May 8, 2013 – Moller International announced today that its discussions with Athena Technologies regarding the proposed Joint Venture (JV) continues to move towards a possible final detailed agreement to jointly produce and distribute the Skycar® and Neuera™ volantors. Since production of at least the fuselage and avionics is likely to take place in the People’s Republic of China, financial support from the PRC’s government requires a considerable amount of due diligence. John Gong, President of Athena Technologies, is presently in China working to complete this phase of the process.
Freedom Motors Update:
A joint venture agreement with Athena Technologies would have a significant impact on Freedom Motors (FM) since FM is likely to be the initial supplier for many of the engine parts required for the powerplant used in the Skycar and Neuera aircraft. For that reason Freedom Motors plans to delay the resubmission of its Regulation A offering documents to the SEC until the details of the joint venture are fully defined. However Freedom Motors continues to keep the Regulation A materials up to date and synchronized with the current terms of the agreement so that they can be turned over to the SEC as quickly as possible.
The interest in the Rotapower® rotary engine has become incredible. We now have letters of intent to purchase over 2 million engines (potential sales of over $2 billion). If all goes as planned, engine production will likely take place in Phoenix, AZ. The city and state have a particularly attractive business climate. We have been able to integrate a number of incentives with them totaling over an estimated $5 million.
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