Cyclone Power Technologies, Inc. (fka CYPW)

[BuddyWhazhizname]

Here's a puzzler. The new annual report lists an advertising expense "Retirement of demonstration equipment - $85,583" for 2014. Then under R&D expenses is "Retirement of equipment - $93,053"

They never mentioned having "demonstration equipment" before. In fact, other than several thousand in trade show display material there was never any equipment listed under advertising costs.

They've also had so little R&D equipment it's hard to see where that $93K would have come from. All the WHE assets went to Q2Power and were accounted for then. The Mark 5 is still on its rickety test stand (as far as we know). Just what R&D equipment was there?

The report also says "In 2015 Silest filed a small claim for rent due on storage facility against Cyclone (included in accounts payable). Silest and Cyclone reached a settlement and paid in full in 2016." This was the extra space they had rented to hide all the non-functional mockups like the lawn mower, truck chassis, Frankie's boat and various collections of painted tupperware.

Now, just what "demonstration equipment" worth $85,000 did they get rid of in 2014? And what $93,000 in R&D equipment?

Harry, believe it or not, made production quality molds for the fiberglass body on the new land speed record car. He claimed on the steam car board he was going to make copies of the car's body to give to his engine dealers as a promotional item, so therefore needed high quality molds to mass produce these car bodies. That was all going to be after setting multiple speed records, of course.

Harry, after taking back the car body he had given to Chuk Williams, sold it on eBay for $3150 while claiming it cost $70,000 to make: http://www.ebay.com/itm/Land-Speed-Record-LSR-Streamliner-Fiberglass-Car-Body-/251430846090 So it could be either the $85K or $93K were the body molds for the new car.

The other write-off, I'll bet, was Frankie's boat. Cyclone never admitted what it cost, but the value of equipment jumped $70 or 80,000 the year the boat showed up.

After all, it was probably quite a public embarrassment to Harry knowing the boat could never fulfill its purpose of setting a steam boat speed record. On the steam car board years ago Harry made the excuse that the boat couldn't even be put in the water until after the car set a record. He never did explain why the boat couldn't be launched and run right now. Getting rid of the boat would save him from ever having to admit it was a failure.

Funny, though. Even with $180K of equipment taken off the books for 2014, not a dollar of revenue was listed by Cyclone. Do you suppose stuff got sold out the back door for cash?