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Agreed and Thank you! Wishing you the same.
I seriously doubt the veracity of this post.
Cyclone Power Technologies Files Quarterly Report on Form 10-Q and Releases Progress Letter to Shareholders
Cyclone Power Technologies (OTCQB: CYPW) has filed with the Securities and Exchange Commission its Quarterly Report on Form 10-Q for the period ended June 30, 2012, and has released the following progress report to its shareholders:
Dear Shareholders:
We are very pleased to have completed another successful quarter marked by revenue that exceeded our projections, on-time delivery of engines to Raytheon, and the assumption and re-commencement of our $1.4 million program with the US Army/TACOM. With the third quarter already in full swing, we are confident that we will continue this positive trend for the remainder of the year and going forward.
Our June 30, 2012 financial statements are available in our Quarterly Report on Form 10-Q on file now with the Securities & Exchange Commission. On behalf of Cyclone's executive team, therefore, I would like to take this opportunity to highlight some important recent developments, as well as provide an update on the progress of our engines, expectations on cash flow and other thoughts.
Recent Company Developments
Revenue Forecast Surpassed - In the second quarter of 2012 we realized revenue of $382,000, beating our initial forecasts. Based on our current estimates, we are forecasting for the third quarter at least $500,000 in cash provided from our development contracts. Moreover, we are pleased to state that for the first time cash coming in from our signed agreements is expected to support a majority of our operations through the end of the year.
Strong Financing Partner Secured. We have been able to secure $250,000 in financing from GEM Global Yield Fund, a $3.4 billion investment group with strong portfolio operations throughout the world. We see this initial investment from this highly reputable fund as a strong sign of confidence in our future prospects. As stated above, however, as our cash flow position continues to improve, we anticipate that we will be able to rely less on equity and debt financing to support our growth. This is very good for all our shareholders as it means that we are moving towards profitability and limiting share dilution.
On Time Delivery to Raytheon - As we promised to our shareholders and customer, we delivered to Raytheon two Cyclone MR-36 engines on time and within budget. These engines passed our customer's acceptance test criteria, thus fulfilling our contract. We look forward to additional work with Raytheon and other major defense contractors in the future.
Re-Start of $1.4 million Army Contract - We completed the acquisition and integration of Advent Power Systems, and assumed the position of prime contractor under the $1.4 million Phase I contract with U.S. Army/TACOM to develop a compact, all-fuel power unit for combat vehicles (the S-2 engine). This program is now in full-swing, our first performance milestone has been met, and we are firmly on target to deliver engines within budget by the contract deadline of July 2013.
Partnership with Clean Carbon - We signed a key partnership with CleanCarbon Ltd., an Australian technology development company, to pursue renewable energy projects in Australia including government and private contracts for the commercialization of Cyclone technology for the agricultural and municipal waste industries. This alliance will help us expand the reach of our technology to the Australasian territory, and monetize the value of our foreign patents including the two we hold in Australia (one we received this past quarter).
Successful Military Vehicles Conference - We showcased our technology at the Military Vehicles Exhibition & Conference in Detroit in July 2012. The event was extremely positive for Cyclone, as we were able to meet with numerous current and potential customers, vendors and partners. We are already working with suppliers we met with at this event, and expect more business opportunities to arise from these new alliances going forward.
Engine & Technology Updates
Waste Heat Engine (WHE-25) - We are well into the manufacturability design process and pre-production testing of our WHE-25 engines, and are beginning the integration process of the engine with Phoenix Power Group's waste oil furnaces. We intend to complete and deliver engines to Phoenix in Q3 2012 and will be testing the combined system this quarter and into Q4 2012. Along these lines, we have recently added manpower and resources to this engine program so we can move into production in 2013.
Mark 5 Engine - With the delivery of the Raytheon MR-36 engines, we were able to advance the development of the "sister" Mark 5 engine considerably, including key technological advances in valve and head design. We have now commenced construction of the two Mark 5 engines for our customer Combilift, a leading industrial equipment manufacturer, with an estimated delivery by the end of 2012. We expect to receive additional Mark 5 prototype orders later this year for delivery in 2013.
Team Steam USA - LSR Car - In addition to the Mark 5 engine development noted above, we have nearly completed construction of the new LSR chassis and body. We are on track to install the Mark 5 engine and systems and to start testing the LSR Car in the coming months. We anticipate an attempt for the land speed record for steam powered vehicles before the end of the year.
We have made major advancements in our technology and business prospects since the beginning of 2012; however, we have also seen a decline in our stock price during the same period in a challenging market for small and micro-cap companies. For some investors our progress has not occurred fast enough. Others have expressed concerns about our cash position and potential stock dilution. While we recognize these perceived concerns and vow to work even harder to overcome them, we strongly believe that Cyclone presents a solid opportunity for the long-term investor, especially at current valuations.
All technologies have competition, but few technologies have the incredibly diverse base of potential applications as the Cyclone engine with over 30 international patents. From waste-to-energy and solar power, to portable and distributed power generation, to land and marine transportation, the Cyclone Engine is not a "one trick pony." We are finding and pursuing the market niches that best suite our technology, and for which we have considerable advantages over any competition.
Our cash flow from product sales and development services is on an upward trend, which means we will gradually rely less on stock sales and stock for services to fund operations. This savings has already begun, as we cut in the past quarter potential issuance of over 2.9 million shares over the next year. Cash has been and is continuing to be used conservatively and wisely. Both our co-founder Frankie Fruge and I are heavily invested in Cyclone with our life savings, and neither of us has taken a salary since inception. Our officers, directors and employees are some of the largest shareholders in the company, and as a result, our interests are aligned closely with our shareholders.
We warmly welcome Cyclone shareholders, supporters and friends curious about our progress to visit us in South Florida. You will see that we are running and testing engines, bringing talented people on board, expanding our facility, signing new contracts, and most importantly, moving our engines closer to completion and commercialization.
Development of new technology is a challenging endeavor, especially when conducted in the public spotlight. Daily progress is sometimes hard to see from the outside, but rest assured, it is happening and Cyclone is moving forward. We remain steadfastly focused on our goal of getting our engines completed and into commercial use. We are confident in our path to success, and see the light at the end of the tunnel approaching. For all of your support and encouragement along this exciting journey, we thank you.
Sincerely,
/s/ Harry Schoell
Harry Schoell, Chairman & CEO
Safe Harbor Statement
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The company cautions that these forward-looking statements are further qualified by other factors. The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.
About Cyclone Power Technologies
Cyclone Power Technologies is the developer of the award-winning Cyclone Engine -- an all-fuel, clean-tech engine with the power and versatility to run everything from waste energy electric generators and solar thermal systems to cars, trucks and locomotives. Invented by company founder and CEO Harry Schoell, the patented Cyclone Engine is a eco-friendly external combustion engine, ingeniously designed to achieve high thermal efficiencies through a compact heat-regenerative process, and to run on virtually any fuel -- including bio-diesels, syngas or solar - while emitting fewer greenhouse gases and irritating pollutants into the air. The Cyclone Engine was recognized by Popular Science Magazine as the Invention of the Year for 2008, was included in a 2011 report by Popular Mechanics as an important waste energy technology for the future, and was twice presented with the Society of Automotive Engineers' AEI Tech Award. Additionally, Cyclone was named Environmental Business of the Year by the Broward County Environmental Protection Department. For more information, visit www.cyclonepower.com.
Cyclone Investor Relations
American Capital Ventures
Howard Gostfrand
President
Tel: 305-918-7000
info@amcapventures.com
Company Contact
Christopher Nelson
Tel: 954-943-8721
chris@cyclonepower.com
Thanks for the fascinating article.
Can you imagine where CYPW if Harry & Team listened to "shareholders".
Oh. My. Goodness.
Fortunately for us, Frankie and Chris take care of all the business. Harry is plenty smart enough to know how to surround himself with excellent people. He has said many times he prefers his work as the lead engineer. He likes doing what he's good at. And why not? He's an amazing inventor.
Chris Nelson is an exceptional attorney with excellent negotiation skills. I know this first hand.
Frankie Fruge's strong suit is in organization, long range vision, with excellent "people skills".
We have a great team supporting Harry here. Their determination to succeed is palpable. "Slow and steady" will win this race.
Agreed. "A voice of reason".
Harry will sell no whine, until it's time.
(get it? the whine of an engine.....:)
Excellent post. Calm. reasonable. Logical. Much appreciated.
Very nice work, Web! The Company owes you one! So do we, the shareholders. Thank you!
Good post! You are right about the support vs. chronic bullying. We owe that much to our kids and grandkids IMO.
Excellent report, Int! Thanks for sharing the good news!
Occam's Razor! Good theory, Dotell, I'll bet you are right.
Good advice IMO, unless you live in freezing zones that is.
Those deposits in your stand ICE are minerals and broken down antifreeze.
Cyclone engines use pure H2O to avoid such problems.
The engines, by design, are air, light and water tight. There should be little need to "top off" the operating water system. And the heat generated will certain wipe out any and all organisms that try to grow in that water.
I believe that would be part of an annual tune up. We won't know until these engines have a track record.
"However. I see no reason not to be patient and let them do their job."
I couldn't agree more. They are doing their job, too, even though that isn't apparent to some here.
Agreed. good post!
The word is getting out there. WR is generating some interest.
http://www.greenlivingaz.com/?p=6436
I agree. because after they shatter the record, who's going to challenge them? They will simply have to improve the performance until they are competing with more widely accepted modes of propulsion.
I can foresee Cyclone shattering WR for speeds set with certain fuels.
Noone can touch us when it comes to burning wood chips, or algae oil, [name your fuel].
All good and right on schedule in my book.
My prediction: 210 MPH
Crushing the current WR for Steam Powered Vehicle.
Today's article in Hazmat Magazine
http://www.hazmatmag.com/news/cyclone-on-track-with-army-engine-contract/1001577561/
Thanks, man. I'll see what I can do about updating it with some new images. The story continues to unfold.....
I do. Somewhere. Thinkin' it might be time to dust it off and trot it out again?
Last time I did, though, the SP tanked. So I think I might hold on to it until we have some more confirmation of a definite trend.
Great chart, Ont, you are and have been a great asset to this board. I, for one, truly appreciate your commitment and insight to SRSR's success.
Now that's just plain funny, I don't care who you are. :)
I agree. Well put.
I might add the concept of "Tipping Point" (per Malcolm Gladwell)
In order for these engines to "take off" they must be embraced and adopted into use. Harry and Company are very aware of the resistance to new things and have been chipping away, one end user at a time, to see the value of embracing this technology.
So, we have several people interested but we have not reached critical mass to tip the scales in our favor.
The Speed Record will go along way, IMO, to foster this support. And it doesn't hurt that the deep pockets of the pentagon are now interested via Raytheon's forward thinking.
we need just one big order of an engine to be put into production. I banking on the Raytheon engine or the WHE (for the oil burner) to be the one that puts over the top towards worldwide acceptance.
However, Harry & Co. wont just rest on that bet, they continue to reach out as far and wide as is feasible to reach that "one" individual or entity that will push them over the top. Prudent thinking, IMO, you just never know where the next opportunity will come from.
Cyclone Power Technologies to Showcase Engine Technology
at Military Vehicles Conference
Pompano Beach, FL, July 5, 2012. Cyclone Power Technologies (OTCQB: CYPW) developer of the all-fuel, clean-tech Cyclone Engine, announced that it will be attending and showcasing its engine technology at the Military Vehicles Exhibition & Conference, being held at the Cobo Convention Center, Detroit, MI, July 10 - 13, 2012.
The event, billed as the largest stand-alone military vehicle show in the world, will feature 200 exhibitors, over 2,500 domestic and international attendees, and presentations from 45+ military vehicle experts. Topics of discussion will include the US military's vehicle acquisition roadmap and sustainment priorities, and future ground and amphibious vehicle needs for the allied armed forces.
Christopher Nelson, President of Cyclone, commented: "We expect this conference will be an excellent opportunity for Cyclone to showcase its engine technology and network with hundreds of important decision makers from both the military and defense contractors globally. The timing of this event is excellent as Cyclone has recently assumed the Prime Contractor role under our contract with the U.S. Army / TACOM to develop compact, all-fuel auxiliary power units for multiple military combat vehicles. We believe that our technology has strong capabilities to make our fighting forces stronger and more agile, while saving the armed forces money and resources."
Cyclone will be at Booth # 428, and will be bringing its model Mark 6, 330hp truck engine, along with some of the smaller engine models geared towards portable and auxiliary power production.
About Cyclone Power Technologies
Cyclone Power Technologies is the developer of the award-winning Cyclone Engine - an all-fuel, clean-tech engine with the power and versatility to run everything from waste energy electric generators and solar thermal systems to cars, trucks and locomotives. Invented by company founder and CEO Harry Schoell, the patented Cyclone Engine is an eco-friendly external combustion engine, ingeniously designed to achieve high thermal efficiencies through a compact heat-regenerative process, and to run on virtually any fuel - including bio-diesels, syngas or solar - while emitting fewer greenhouse gases and irritating pollutants into the air. The Cyclone Engine was recognized by Popular Science Magazine as the Invention of the Year for 2008, and was presented with two Society of Automotive Engineers' AEI Tech Awards. Additionally, Cyclone was named Environmental Business of the Year by the Broward County Environmental Protection Department. For more information, visit www.cyclonepower.com.
Follow Cyclone on Facebook: http://www.facebook.com/CyclonePowerTechnologies
Cyclone Investor Relations
American Capital Ventures
Howard Gostfrand, President
Tel: 305-918-7000
info@amcapventures.com
Cyclone Media Contact
Red Letter Group
Will Wellons
407-462-2718
will@redletterpr.com
Safe Harbor Statement
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The company cautions that these forward-looking statements are further qualified by other factors. The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.
Quick Links
Our Website
Cyclone Power Technologies, Inc.
601 NE 26th Court
Pompano Beach, FL 33064
T: 954-943-8721
F: 954-788-6565
Bingo. A shame that this concept needs to be clarified, but I'm glad you did.
well said.
Great post, well said. Thanks for that perspective, it's dead on IMO.
from that excellent article, thanks, Kat!:
Interesting. When and where do you plan on going after the record?
The initial test runs on the Cyclone-Team Steam USA Streamliner are on target for late summer 2012, and will be at the NASA-Kennedy Space Center Shuttle landing strip in Cape Canaveral Florida. It is an honor to be invited by NASA to test at their facility and ultimately break the World Steam Record and bring it back to the USA at this historical facility.
Cyclone Power Technologies Approved as Prime Contractor under U.S. Army Development Program
POMPANO BEACH, FL, June 19, 2012. Cyclone Power Technologies Inc. (OTCQB: CYPW), developer of the all-fuel, clean-tech Cyclone Engine, announced today that the U.S. Department of Defense has officially approved Cyclone as the prime contractor under its engine development program with the U.S. Army / Tank Command (TACOM). Cyclone acquired this contract from Advent Power Systems in February 2012, subject to the now completed contract "novation."
The Army / TACOM program is valued at approximately $1.4 million, which is scheduled to be paid to Cyclone over the following 12 months as the Company reaches certain development milestones. The program objective is to develop a Phase I prototype 10kW auxiliary power unit, suitable for use in multiple lines of combat vehicles including the M1 Abrams tank, the IAV Stryker and the Bradley Fighting Vehicle. Should this Phase I program advance to Phase II next year, it could be worth several million dollars in additional revenue to Cyclone and provide further development support towards the ultimate commercialization of these highly compact, efficient and multi-fuel capable power generators.
Christopher Nelson, President of Cyclone, commented: "After months of government review and vetting, we're pleased to have been approved as the prime contractor for TACOM, and excited to continue ahead with this very important program. Taking control over this project was crucial to reducing administrative inefficiencies and maximizing development revenue, and we believe will place us in a stronger position to build our team and secure future military opportunities going forward. We are eager to demonstrate to our customer, the U.S. Army, how Cyclone Engine technology can help reduce the waste of military resources and save lives on the battlefield."
"On behalf of our team, we would also like to thank Congressman Allen West (FL-22) for helping us cut through the bureaucratic red tape during this contracting process, and for his strong support of small businesses like us," added Mr. Nelson.
About Cyclone Power Technologies
Cyclone Power Technologies is the developer of the award-winning Cyclone Engine - an all-fuel, clean-tech engine with the power and versatility to run everything from waste energy electric generators and solar thermal systems to cars, trucks and locomotives. Invented by company founder and CEO Harry Schoell, the patented Cyclone Engine is an eco-friendly external combustion engine, ingeniously designed to achieve high thermal efficiencies through a compact heat-regenerative process, and to run on virtually any fuel - including bio-diesels, syngas or solar - while emitting fewer greenhouse gases and irritating pollutants into the air. The Cyclone Engine was recognized by Popular Science Magazine as the Invention of the Year for 2008, and was presented with two Society of Automotive Engineers' AEI Tech Awards. Additionally, Cyclone was named Environmental Business of the Year by the Broward County Environmental Protection Department. For more information, visit www.cyclonepower.com.
Follow Cyclone on Facebook: http://www.facebook.com/CyclonePowerTechnologies
Safe Harbor Statement
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The company cautions that these forward-looking statements are further qualified by other factors. The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.
Disclaimer: Reference herein to any specific commercial company, product, process, or service by trade name, trademark, manufacturer, or otherwise, does not necessarily constitute or imply its endorsement, recommendation, or favoring by the United States Government or the Department of the Army (DoA). The opinions of the authors expressed herein do not necessarily state or reflect those of the United States Government or the DoA, and shall not be used for advertising or product endorsement purposes.
Cyclone Investor Relations
American Capital Ventures
Howard Gostfrand, President
Tel: 305-918-7000
www.amcapventures.com
Cyclone Media Contact
Red Letter Group
Will Wellons
407-462-2718
will@redletterpr.com
Quick Links
Our Website
Cyclone Power Technologies, Inc.
601 NE 26th Court
Pompano Beach, FL 33064
T: 954-943-8721
F: 954-788-6565
We can only hope it's all changing over to stronger hand(s). If that is true, we have a chance.
Still, Someone is buying the dump.
I agree. I think MM is waiting on Gridgrabber to get something done. Logic being there's no point in promoting for promotion's sake. Much better when there's announcement of a promising material event.
This ain't dead yet IMO. I really think they deserve a chance.
So good old honesty would go along way here.
They might have sold the preferred shares, rendering it impossible (or very difficult) to do an R/S. My guess is when Cressent failed, everything was put on hold until another company could be found to put in KING.
I can't disagree with you on the obfuscation. They are digging a deeper hole for themselves....if only they would try the truth in its purest form. People appreciate transparency and good things happen when people are appreciative.
But, it doesn't seem to be their style. Oh well.
I do appreciate your effort at equanimity, though, thanks!
I share your dilemma, much of this doesn't make sense.
I spoke to the transfer agent to verify that statement posted on otc markets was, in fact, generated by them. It was. And therefore should be considered genuine.
My only other explanations would be these:
1. The billion shares bought and sold are the result of churners trying to make things happen. The six month chart fro KING shows the largest volume day was 154M. If a group or individual MM wanted to play this game they could given what you and I know about the pre existing share structure. This doesn't seem likely as I can't really see the benefit.
2. A more likely scenario, is this: Over a year ago MM sold restricted shares to different Accredited Investors. I'm guessing they sold around 1 to 1.2 Billion worth. These shares lay dormant for the one year restriction period. Then when that year was up, KING was put into play by MM. With free trading shares, the AIs were told what would happen and to hold for a certain price. Well, these clients of MM (the AIs) didn't seem to be on board (perhaps not trusting MM) and began to dump. If this is true, I would guess that they are all out having taken their profit.
Which begs the question, then who bought all those shares? I would say it was someone who still trusts and believes in KING's potential and MM's ability to make something happen.
The remaining 800 Million shares were retired by MM, to presumably offset the mutiny of their own clients (the original AIs).
Again, because these AIs are the bread and butter of MM's business, they can't very well blame them in public. They want them back for more business. So, they find other scapegoats like Meuse and the "bashers". Easy targets.
Having spoken at length with a main MM principal, I do believe they are trying to do the right thing, but there is only so much they can do. We shall see if this guy Dennis can make something happen (based on the early alert in the email this AM)
Hope that helps a little. It's all I've got. :)
I know you think they are really trying to do the right thing blah, blah blah but their actions show something entirely different.
They blame Gridgrabber management for things, but Gridgrabber doesn't have the preferred shares so they can't decide anything, Min@mar is the deciding party.
Thanks for the report! Nice of you to share your visit.
thanks for the update. Please provide your contact info. I would very much like to speak with you. thanks.