CYPW has lots of debt and no revenue.
Separating the WHE GEN division as a separate company has got them $75K in cash (all to the secured creditor) and the loss of any realistic chance of any more revenue this year.
The last customer CYPW booked was Combilift in 2011, who ordered two engines for delivery in Q2 2012. They're still waiting for them.
Without WHE GEN, CYPW's new business model is to sell R&D services and licenses for their engine technology. For the last year they have been outsourcing their R&D from Ohio State University, so who will pay CYPW to hire OSU? After 10 years of development they have never publicly demonstrated a running engine, so who will buy licenses?
CYPW's two biggest physical assets are a land speed record car that has never had an engine and a water speed record boat that has also never had an engine.
CYPW's debt is held as notes that convert to stock at 45% below the lowest market price. So, for instance, a $50K note now converts to 50,000,000 new shares in the market.
In short, yesterday's announcement was that CYPW is now an empty shell holding lots of debt. Anything viable has been moved to WHE GEN.
That could be why CYPW hasn't gone up more on this news.
