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Going by the URL, 2001. Spinoff is (or used to be) NASA`s journal about how NASA`s innovations were being applied to the wider world.
This also squares with David Sastry`s recent post on the Moller blog that the IT equipment around Moller`s operation (Windows NT) dates back to circa 2000 or so. Probably it was used for the work highlighted by NASA around the turn of the millenium. Likely, it hasn`t been updated since.
If they follow past practice, they will become a blockchain oriented company about six months to a year after the hype has passed, and the winners (if there are any) in the blockchain market are already established.
Moller getting a new CIO is nice, but it's like rearranging the deck chairs on the Titanic.
Having someone on staff that can update your antiquated IT infrastructure doesn't help if you don't have anything to communicate, or anything to sell.
I translate the statement thus:
If you wouldn't invest in something with regular money, don't invest in it just because it's now an ICO. Caveat emptor.
Translation: We can't raise any funds by legitimate means. So we're suggesting that people send us real money and get our perfectly legitimate pseudo-bitcoin in return.
Given Moller's long, long history of scams, lack of financial disclosure, and never following through on what they say that they're going to do -- What could possibly go wrong?
Ah, but they didn't say spring on what planet (or what hemisphere on that planet). Neptune, anyone?
I figure that Moller's annual meetings are like their financial reporting to the SEC. Something they once did, but now are either incapable of doing, can't afford to do, or choose not to do because there's nothing good to report. Either way, it makes them look incompetent, and entirely worthy of their penny stock status.
I wonder if Moller is even able to fake a deal without Zack. Since Zack left, there has only been one monthly newsletter. No annual meeting has been organized, and it's probably too late to set one up now before the end of the year. There hasn't been any updates of any kind. I think that the Doctor has been on a few nutbar radio programs, but even these haven't been promoted (I found out by accident doing a Google search).
Clearly, there's no there there (to quote Dorothy Parker).
Something to think about -- will there be a shareholder's meeting this year?
If there will be, it should be announced in the next week or so.
Any thoughts?
You mean the Reg A offer that was supposed to be ready in 45 - 60 days at the 2014 shareholders meeting (November 22, 2014?)?
If said employee thought that there was the slightest chance of Moller/Freedom Motors actually getting funded (and thus him getting paid), he wouldn't have quit.
The problem with the sour gas thing is that Moller acts like this is a problem that doesn't currently have a solution.
In fact, there are a number of companies that already supply engines for running on sour gas from landfills.
Moller's challenge is to demonstrate that their engines work in this application, and more importantly, that they can supply them in quantity if someone actually orders some. The second part is likely to be the biggest challenge.
Given the amounts of money that some of them claim to have sunk into MLER (up to a million shares each, most of which were likely bought when the share price was a lot higher than it is now), they're fools if they don't ask those kinds of questions.
The continuing lack of SEC submissions speaks volumes.
MLER used to file their information with the SEC regularly, so they were capable of doing it in the past. But two years ago, they stopped filing any kind of financial information.
The only explanation for this is that the information contained within the SEC filings was too embarrassing to admit. Perhaps the amount of money that is being spent (with nothing being accomplished) is an embarrassment. Or perhaps there are peculiarities with insider stuff with the stock that go beyond embarrassing.
For this year's shareholders meeting (assuming that there is one) -- this is the line of questions that ought to be asked. Not about the list of things that MI said they were going to do last year, and the list of things they say they're going to do in 2018. Experience has shown that those things are pure fantasy. Ask about why the finances aren't being reported. Ask about where the money (the company was spending $8400/day according to the last financial report filed) is going. How many people actually work at MLER now apart from Paul and Zack? What do they do?
Given that PSC's supposed funding involves some kind of global currency revaluation involving Zimbabwe dollars (which haven't been legal tender for years, and were valued at 100,000,000,000,000 [yes, one hundred trillion] ZIM to 1 USD when they were in circulation), I wouldn't expect any funding from that source. insert-text-here
I agree completely. I don't think that there is any serious intent to sell the M400 prototype, and there's not much that anyone could do with it if they bought it. Essentially, it's an expensive paperweight. This is purely a publicity stunt, and even that hasn't gone entirely to plan.
The more interesting question is where the current volume of shares being sold is coming from. About eight million shares have been sold since the beginning of June, and the typical daily volume is way above normal.
I have no idea if Moller is selling more shares, or if some institution that accepted shares is selling them off. Does anyone else have any ideas what is happening?
Incidentally, today (June 30, 2017) marks the end of Moller International's corporate year.
It also marks two years since MI last filed any kind of financial reporting -- namely the annual report for the year ending June 30, 2015. Since then -- No quarterly reports, no annual report for 2016, and I'm guessing, no report for 2017 either.
(Lack of) financial reporting isn't the only reason that the stock is hovering around the two cent mark, but it certainly doesn't help. While there is no obligation for MI to report their results to the SEC, not doing so condemns them to the "no information" category on the OTC Pink exchange. It's asking a lot for people to invest money in your stock when your financials are utterly opaque.
It's now more than 6 months since the Moller annual shareholders meeting. That gave MI six months to prove that this year's promises were more substantial than the fantasies they spin every year.
And in that time, nothing has changed -- with Moller at least. They continue to issue what is essentially the same newsletter - "Still waiting for the Global Currency reset, electric flyers are inferior to our creations". While Moller's plans to fund development have grown more transparently absurd over the years, the global currency reset is arguably the bottom of the barrel.
What has changed is the nature of the competition. Lots of other companies (with actual funding) are getting involved, and several have actually flown their craft. This includes some of the electric craft -- despite the (genuine) power-to-weight issues with electric propulsion, these companies have been able to demonstrate that their craft can out-fly anything that Moller has ever flown. I don't know how practical their craft will turn out to be in the real world, but at least they have demonstrated (in this decade) that their claims about their craft have some basis in reality.
It's pretty apparent that there is nothing here now. The only remaining question is if there ever was anything.
You call "waiting for global currency reset" doing nothing? :)
I don't dispute that the power to weight ratio of a gasoline powered aircraft is better than an electric one, although the performance of electrics is improving rapidly.
However, consider the performance of the eVolo (electric) versus the *demonstrated* performance of any of Moller's craft -- not the claimed performance, but what has actually been shown. The eVolo flies longer, higher, in perfect control, and can fly hands off, all while carrying a passenger.
Moller was ahead of this game a long time ago. But they have basically been spinning their wheels for over a decade. Personally, I suspect that the flights of the M400 back in 2002 - 03 were more intended to improve Moller's credibility during the SEC investigation than anything else. Paul's white paper states that electrics are inferior, and for the moment they are (at least in power-to-weight terms). However, they are able to fly better than anything Moller has ever flown despite this, and charge densities for batteries are improving rapidly. MI appears to be sliding down a steep and slippery slope to irrelevance.
Newsletter has now been issued:
Quick Summary: We have done nothing because we haven`t got any money. We are still waiting for money from PSC after the `Global Currency Reset`, shortly after hell freezes over. Electric powered flying vehicles are inferior because Paul says so.
It is now three months since the Moller International annual shareholders meeting.
In that time, the company has done - nothing, apart from revealing that their plan to finance operations is based on some cock-and-bull story about "Global Currency Reset".
No financials have been submitted. They're coming up on two years since there has been any kind of financial reporting.
What do they do all day?
The explanation of where the money is supposedly coming from -- ????
To: Paul Moller - Freedom Motors & Moller International
From: Fred and Christine Pereira
Date: January 19, 2017
Re: Brief Description of Funders / Funding Positive Change Organization
Dear Paul,
Due to the fact that our business with you/your Company(s) is dependent upon PSC
receiving its approved funding, we wanted to expand a bit more about what we do
know about our Funders. We will try to expand on the details of our Funding Group,
Funding Positive Change Organization as much as we can without breaking any of
the terms of our NDA with them.
In the simplest explanation, the Funders are many in number. They all have a great
deal of wealth already, and have made investments and/or purchased currency
from other countries all around the world. Now with the New Republic being
established and the RV/GCR (Revaluation of currencies / Global Currency Reset)
being set around the world, those currencies that were purchased prior for very low
are now being redeemed for a much higher price. In essence, turning Millions into
Trillions or more...
Additionally, many of those big Investors have decided to come together and have
agreed to fund a vast array of Humanitarian Projects, (both Non-Profit and ForProfit
Projects) so once the currency has been exchanged or paid out, then those
monies will be used to fund our Projects as well as all the other Humanitarian
Projects. (By taking on Humanitarian Projects the Investors also are given a higher
rate of return for their currency exchanges.)
The Process for us qualifying for this funding was arduous, but well worth the wait.
In fact, there were about three stages that we had to pass through before fully being
accepted. Our large For-Profit Project alone has been given four money managers
that helped us with all the excel spreadsheets and project planning details.
Moreover, from the details stated within our weekly updates, we have come to
understand that these funders have a large team of administers and money
managers. Those administrators have arranged and prioritized all the Humanitarian
Projects into a number of Tiers, Groups and Sub-Groups, (Tier-1, Tier 2, & Tier -3)
selecting the Projects that are most essential for our planet and our Eco System to
go first. (We are in what is called, “The Church Group,” which is a Sub-Group within
Tier-3.)
The Admiral and Admiral Sub-Group were stated as the groups to be paid out first,
since all their Projects in this group had technology or projects specifically focused
on our earth’s eco system, i.e. Japan’s nuclear waste spill, natural disaster clean up
projects, global warming reduction projects, etc. And from last reported in
December 2016, all Tiers have now been paid out or are in route to receive their
funds.
Our specific Funders are in Tier-3, which is now being finalized and their currencies
have or are being exchanged right now, so that only now leaves their Sub-Group to
be paid out next, which again is our Project. And as affirmed in our last Update dated
Tuesday, January 17th, 2017 we were told by our contact person that we/our Group
are next in line for payout, so we are now on “stand-by” status for our Blackout
period.
(Blackout as you may remember, is the time period where all contracts are signed,
bank accounts are set up for us and where all details of audits and managing of the
funds comes into play and full understanding. It has been said that the Blackout
process could take between 30 to 45 days.)
So that’s pretty much the basic overview of our funding source. Lastly, as you
already know, Paul, we now are receiving weekly Updates on our Funding, and as
usual, we will continue to keep you updated on our progress with our funding as we
move ahead.
It doesn't let you post links. Put MLER yahoo finance into Google and you should see it.
See #839. Nothing is happening because, nearly two months after the "deal" was announced, there's still no proof that there actually is any money involved.
The ongoing lack of any kind of financial reporting (nothing reported to the SEC for 6 quarters and counting) also doesn't do anything for Moller's credibility. Would you invest $250 million in a business that can't/won't report financials that it is legally obligated to report? I wouldn't.
Take a look at the MLER comment page at Yahoo Financial. Dean Harmse has posted a couple of things in the past day or so that while speculative, probably explain the Moller International situation as well as anything I've ever heard. They're even humorous (if you don't have any money tied up in MLER).
For anything significant to happen to the share price of MI, something concrete has to happen.
There needs to be proof that the most recent deal actually involves money, rather than just being the most recent fantasy deal to try and make the company look credible. And the longer things go without proof of this, the less credible the deal is.
Or, the company could actually fly one of their craft for the first time in 15 years, and demonstrate something other than just hovering for a minute or so. MI claiming that they're the technology leader is looking more feeble by the day with the number of other (well funded) companies that are getting into this space. If Moller doesn't fly something soon, then they will be irrelevant.
Or demonstrating that the patents that they hold for rotary engines can actually be used to produce an engine with the marvelous performance they claim for it. Why has this extraordinary engine never been demonstrated? If they're going to do anything with the patents (U.S. patents 6325603 and 6164942), they had better hurry up, because they expire on December 17, 2018.
David -- I read the executive summary.
Given Moller's extensive track record for "funding" that turns out to be nonexistent, this just sounds like more of the same. Look at the past eight years, littered with deals sounding just like this that went nowhere. As long as the funder of the deal remains anonymous, it's not credible - until some actual proof of the money surfaces. And since the money flows to Freedom Motors (privately held), there won't necessarily be any public record of this. (Not that Moller's recent financial reporting [nothing reported to the SEC in over a year] counts for much anyway).
The other three companies are real enough. But what they are supposed to be supplying to this joint venture isn't at all clear. What are these "major partners" supposed to be doing, beyond supplying a fig leaf of respectability to what otherwise looks like another desperate attempt to try and make Moller's operation look credible?
Perhaps I'm being unduly cynical. But with Moller's history over the past decade, it's very hard to be anything else.
I doubt it will make a huge difference in the long run.
The $250 million is supposedly coming from Power Source Creations.
Power Source Creations consists of two people in Las Vegas. (These same two people own four other companies for which they seem to be the only employees).
There are two addresses listed for PSC. One is a residence in Las Vegas. The other is a UPS-shop like operation -- essentially a mail drop.
There is a online listing at invstor.com where one of the two people listed above are seeing $1.5 million in funding to build a prototype. If they don't have $1.5 million for their prototype, it doesn't seem likely that they have $250 million to invest in Freedom Motors.
Look it up yourself. The Shakespeare quotation "...full of sound and fury. Signifying nothing." (Macbeth) comes to mind.
Just like:
* The China joint venture -- Announced 2013 to great fanfare, went nowhere.
* The Alife Air Automobiles joint venture -- Announced 2014 to great fanfare, went nowhere.
* The Thorntail joint venture -- Announced 2014 to great fanfare, went nowhere.
And many more over the years. Unfortunately, Moller has a very long track record of announcing joint ventures that go nowhere. They've been fishing for a joint venture partner for 14 years without success. I doubt that anything has changed this time.
Short summary of newsletter -- Company is too short of funds to do anything. Usual crap about possible joint ventures that probably won't amount to anything. Annual meeting scheduled for December 10th (maybe).
Indeed. Still no annual report (or a request for an extension), no announced date for the annual stockholders meeting (normally held in October, November, or December, and no financial reporting of any kind for over a year. Combine this with the admission in their own newsletters that the lack of progress is due to lack of money and it paints a pretty ugly picture. Given that Moller usually gives about six weeks notice of their stockholders meeting -- if they haven't announced a date by the end of October, then there likely isn't going to be one. Make of that what you will.
Moller's annual report is now officially late. It was due on September 30th, three months after their fiscal year ended on June 30th.
Their annual reports are always late. But usually, they file an NT-10K with the SEC (essentially a "late slip") giving them two weeks grace. The report is then usually filed on October 13th or 14th.
This was the pattern until last year. They filed for an NT-10K as usual, but the actual annual report was seriously delayed. It didn't appear until mid-December, two months late.
And this year? They haven't filed a quarterly report in a year. They haven't filed an NT-10K. There has been no announcement about a shareholders meeting. Combine this with admissions in their own newsletters that their projects are stalled due to lack of funding, and a pretty ugly picture results.
Moller's annual report is now officially late. It was due on September 30th, three months after their fiscal year ended on June 30th.
Their annual reports are always late. But usually, they file an NT-10K with the SEC (essentially a "late slip") giving them two weeks grace. The report is then usually filed on October 13th or 14th.
This was the pattern until last year. They filed for an NT-10K as usual, but the actual annual report was seriously delayed. It didn't appear until mid-December, two months late.
And this year? They haven't filed a quarterly report in a year. They haven't filed an NT-10K. There has been no announcement about a shareholders meeting. Combine this with admissions in their own newsletters that their projects are stalled due to lack of funding, and a pretty ugly picture results.
At last year's annual meeting, Moller International stated a list of goals for 2016. Here's the list:
* Demonstrate the Neuera 200 in a FAA approved flight before the international press. (Not achieved)
* Upgrade M400 Skycar to FAA flight worthy status. (Not achieved)
* Begin limited production of the Neuera 200 and/or Firefly. (Not achieved, impossible as craft has not flown in at least a decade).
* Begin prototype construction of the Skycar 200. (Not achieved)
* Construct and demonstrate a Skycar 100 if funded under contract. (Not achieved)
* Engage with a joint venture partner to undertake production. (Not achieved)
And the matching list for Freedom Motors:
* Acquire funding from one or more of the following on-going activities.
* EB5 funding for $5 million to $10 million.
* Regulation A funding for $2.5 million to $5 million.
* Fund raising consultant – Jon Feinstein our Administrator of marketing and Technology.
(Not achieved)
* Complete a Beta production run of 400 engines (200 – 150cc and 200 – 530cc). (Not achieved)
* If funding permits we will begin endurance testing a compound version of our 27cc displacement engine. This engine is the ideal candidate to power a one kilowatt gen-set. The US government is prepared to subsidize a $240 billion program to put one in every home in the US that has natural gas (about 75 million homes). (Not achieved)
So, from this list of planned objectives, Moller has accomplished exactly none of them.
The only thing that stands out this year versus others is that they have now gone almost a year without submitting any financial information to the SEC. It will be very interesting to see how this is explained at the annual meeting (due in October).
At last year's annual meeting, Moller International stated a list of goals for 2016. Here's the list:
* Demonstrate the Neuera 200 in a FAA approved flight before the international press. (Not achieved)
* Upgrade M400 Skycar to FAA flight worthy status. (Not achieved)
* Begin limited production of the Neuera 200 and/or Firefly. (Not achieved, impossible as neither craft has flown in the past decade or more).
* Begin prototype construction of the Skycar 200. (Not achieved)
* Construct and demonstrate a Skycar 100 if funded under contract. (Not achieved)
* Engage with a joint venture partner to undertake production. (Not achieved)
And the matching list for Freedom Motors:
* Acquire funding from one or more of the following on-going activities.
EB5 funding for $5 million to $10 million.
? Regulation A funding for $2.5 million to $5 million.
? Fund raising consultant – Jon Feinstein our Administrator of Marketing and
Technology.
? Complete a Beta production run of 400 engines (200 – 150cc and 200 – 530cc).
? If funding permits we will begin endurance testing a compound version of our 27cc
displacement engine. This engine is the ideal candidate to power a one kilowatt gen-set.
The US government is prepared to subsidize a $240 billion progra
At last year's annual meeting, Moller International stated a list of goals for 2016. Here's the list:
* Demonstrate the Neuera 200 in a FAA approved flight before the international press. (Not achieved)
* Upgrade M400 Skycar to FAA flight worthy status. (Not achieved)
* Begin limited production of the Neuera 200 and/or Firefly. (Not achieved, impossible as neither craft has flown in the past decade or more).
* Begin prototype construction of the Skycar 200. (Not achieved)
* Construct and demonstrate a Skycar 100 if funded under contract. (Not achieved)
* Engage with a joint venture partner to undertake production. (Not achieved)
And the matching list for Freedom Motors:
* Acquire funding from one or more of the following on-going activities.
EB5 funding for $5 million to $10 million.
? Regulation A funding for $2.5 million to $5 million.
? Fund raising consultant – Jon Feinstein our Administrator of Marketing and
Technology.
? Complete a Beta production run of 400 engines (200 – 150cc and 200 – 530cc).
? If funding permits we will begin endurance testing a compound version of our 27cc
displacement engine. This engine is the ideal candidate to power a one kilowatt gen-set.
The US government is prepared to subsidize a $240 billion progra
Newsletter basically states that the progress on the M200 is "minimal" (their wording) owing to "inadequate funds". "Inadequate funds" are also stalling the Reg A offering for Freedom Motors. No further progress, and no prospect of any -- as usual.
Translation -- Moller exhibited a non-flying mock up that has existed since at least 1988. In other words, no progress yet again.
Why? If they do nothing at the new office, it's exactly the same as if they never changed. They have to actually DO something.
The Alife deal was announced on January 7, 2014.
https://globenewswire.com/news-release/2014/01/07/600887/10063319/en/Freedom-Motors-Signs-Engine-Development-Agreement-with-Singapore-s-ALIFE-AIR-Automobiles.html
I'm aware of Alife. The deal has been around for more than two years. As far as I can tell, Alife is a garage sized operation that has made a few dozen scooters so far, as near as I can tell from the minimal information they provide online (such as not having updated their Facebook page in over a year). And while Alife has mentioned the possibility of using rotary engines in their scooters, they have NEVER mentioned Freedom Motors by name.
Moller makes periodic announcements, but nothing significant ever seems to happen. Given their decades of crying "wolf", I need some pretty convincing proof that this time is any different.
Excepting the revamp of their website, I don't see any sign of progress at Freedom Motors. Is there anything you can point to that demonstrates any positive changes there? I would love to hear about them.