Cyclone Power Technologies, Inc. (fka CYPW)

[brucebill]

All accrued expense of the Company from salaries, rents, and related interest owed to the majority of employees, all officers, and Schoell Marine have been forgiven in an attempt to clean up the balance sheet and to bring in new money. As of June 30, 2015, the amount forgiven is approximately 1.8 Million and has been reflected now as a contribution to capital.