In the last quarter of 2016, the Company engaged in the following transactions:
a. Placed purchase orders for the pre production manufacturing of 10 Mark 1 engines to test application and integration with customers’ systems
Remember this PR:
Sounds like the same 10 engines. The same 10 engines the 2016 annual report said were already undergoing testing by customers.
I doubt if these 10 engines will ever be built. The Mark 1 prototype they have was only shown running for a minute in the last video and wasn't even powering anything. If you actually give engines to customers they will probably try to run them and will find out just how bad the Cyclone engine is.
The cash management plan is the same as always:
They anticipate delivering engines to customers. Just for reference, the Mark 5 was originally supposed to be delivered to Phoenix Power in January 2010. Combilift was promised theirs for July 2012.
So, the usual flat-out lying about engine delivery predictions. In the last video of the Mark 5 it spun with no load for a minute, and even then the speed was going up and down uncontrollably. Harry and Frankie know fully well there are a bunch of technical problems they've been working on for a decade and still have no clue on how to fix them. Nothing short of a miracle will make these predictions come true.
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