Good luck to them on that.
The originally promised delivery date for Mark 5 engines was January 2010 to Phoenix Power. In September 2013 Phoenix officially cancelled the order, after Cyclone had paid $400K in late delivery penalties.
Combilift ordered their two Mark 5s in September 2011 for delivery in July 2012. They had paid a $100K development and licensing fee and contracted to pay another $300K once the two Mark 5s made their 50 hour test runs and Combilift accepted them as usable in forklift trucks.
Those engines have been "on the dyno completing their final 50 hour test run" for three years now.
All of Cyclone's assets are encumbered, and there is a judgement lien filed in Broward County Court for more than all of Cyclone's property is worth by another creditor.
But Frankie is happy to tell all the "loyal shareholders" that Cyclone is going to factor this invoice for engines that haven't been shown to run properly, let alone been accepted by the customer.
I'm wondering why the owner of Combilift is even bothering to visit. Probably it's a legal technicality to break the contract. There was no end date in the contract, but if Harry and Frankie claimed the engine had certain measured performance levels and a visit proves that to be false, the contract could be ended for misrepresentation.
A couple years ago Harry was bragging about the engine producing 108 hp, that it was "runnin' sweet on the dyno" and that it was "a beast". (Of course no one but him witnessed any of this....) No doubt he told Combilift about all that progress, too.
Hopefully somebody will video the Combilift demonstration and post it for us to see. Lots of colorful Irish swearing would be a nice touch.
