Management has concluded that MI is unlikely to raise the amount of capital required to bring one or more of its various volantor aircraft through FAA approval and into volume production. As a result, MI has discussions underway with a number of potential joint venture partners. MI expects that it will be in a position to announce the result of these negotiations by its annual meeting. MI’s goal is to ensure that a JV partner has sufficient financial strength to bring one or more volantor aircraft to market, and is talking to companies with this capability.
Progress on the Neuera 200 has been minimal since the last newsletter. This is a consequence of inadequate funds to complete its assembly and test. MI has devoted its limited funds to marketing its technology in an effort to acquire joint venture partners that would allow it to produce not only demonstrators, but also market-ready products.
Remodeling work continues at the new Dixon facilities for Freedom Motors and Moller International. Here are a few pictures of the new signage installed at these two new locations.