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Confirmed: Their new partner, GoGreen Equipment, is operating out of a rented mailbox at The UPS Store of Bakersfield.
As Frankie put it in the PR: "GoGreen Equipment is an industry leader in mobile power solutions and light towers for roadways and construction, airports, disaster relief, oilfield, mining, agriculture, sports, entertainment & event production."
I wonder if she ever doesn't lie.
More Frankie Fruge dissembling on FB:
Frankie Fruge if you can read the audited financials you will see there are 4002 investors as Harry and I have more $ and investment than all 4000 and we have never taken any Salary or sold any stock. The simple answer is we have always been underfunded and 75% of all $ have gone to administrative to stay compliant. You have the right to say what you think but the words would ve different if tou considered facts. We see this next step of a seasoned investor group abd the seasoned consultant as something we should have had 5 years ago but we have them now to move Cyclone to the market place. We are all investors and as I have written many time before how is this a scam when Harry and I have gotten nothing in 10 years? Oh you see salaries on the financials which ate required to report EVEN IF YOUR NOT PAID and if you loik you will see the salaries are accrued and then in footnotes forgiven. No stock is issued to us amd if we try to sell any we have to file a form with SEC which we haven't. So please by all means show me where this is a scam. The biggest mistake we made was to go public in the R and D stage underfunded. GM AND FORD spend $250,000,000 just to change parts on a 100 year old engine and take 3 to 5 years to bring that change to market. Look at that by comparison.
Just my facts to consider.
Yeah, that was just what I was thinking. None of the "Cyclone Performance Division's" cars or boats have ever had a working engine installed in them. Fake mock-ups, yes. Real working engines, no.
Wasn't the latter part of 2012 when they rented the shuttle runway at Kennedy Space Center to do the first record runs with the second car? In 2013 they were going to break 200 mph, then 300 and then 400 mph, according to Harry Schoell's "calculations".
See the line about them soon taking deposits from customers for engines? They've been doing that for a lot of years now. Hope those new customers are smart enough to put in penalty clauses for late delivery and non-performance of the engines. Phoenix Power got $400,000 in late penalties for their $100,000 investment before they cancelled the contract.
The Mark 1, 3, 5 and 10 engines are going into production in late 2018, even less than the standard six months now.
I wonder how long it will take their new turnaround expert to fire Harry Schoell and Frankie Fruge for incompetence and dishonesty...
The scam continues... From Facebook:
Cyclone Power Technologies Cyclone has R&D engineers manufacturers have production engineers they figure out the cheapest mass production way ro make it. We only have a new electrical engineer and are working with our manufacturers production engineers Again GM and FORD spend 250 million dollars and five years just to change a system on a 100 year old gas engine technolgy
Remember the PR where Frankie claimed the new secret investor was going to put in $5 million for a "non-dilutive" 20% of the company? Well, here's the fine print now from Note 8:
In the first quarter of 2018, the company has a signed binding letter of intent (“LOI”) by an investor to provide $5 million to the company for additional development of the Cyclone Engines. The payment of the $5 million is scheduled through 2020. The consideration is to be the issuance of Preferred A shares, convertible into effectively 20% of the Common shares of the company at the completion of funding.
Holy cow Tom, you're right. That is a 5000 psi pressure gauge. On a steam engine with plastic piston rings.
For a company that spent more than a million dollars last year on General & Administrative expenses, wouldn't you think they could cough up $20 for a pressure gauge with an appropriate scale? It's not like they've spent all their money on other instrumentation.
There's nothing on that test stand indicating any load is being applied to the engine, other than the pumps being driven by the belt. There are no instruments indicating a load is on the engine, nor are there any controls for applying a load.
The engine isn't even powering the cooling fan, nor the blower on the boiler. Even with considerable steam pressure, the system is running negative net power output.
So efficiency isn't just zero, you'd have to shut the system off to move up to zero efficiency.
Of course, letting the engine spin for more than the minute ever shown in the videos will cause it to shut down all by itself once the engine breaks, thus increasing it's efficiency. That must be the "Schoell Cycle" in action.
Agree Marlin, the spending priorities have always been wrong at Cyclone, to a large extent because they believe they have an "ingenious inventor". Why spend money on systematic R&D when you've got a genius on staff?
One example comes from many years ago when Harry Schoell was still posting on the steam car board (he hasn't in a long time, but then people had stopped fawning over the Cyclone engine and started saying things like "Stop telling us what it's GONNA do, tell us what it has DONE.") The ceramic ball bearings used in the engines quickly failed. What Harry described was a textbook lack of lubrication failure. He then went on to explain that ball bearings are really tiny electrical generators and without oil to insulate the parts the electricity they generate cause the bearing surfaces to fail.
It seems in more than a century that ball bearings have been in mass production by companies worldwide, all the engineers working in all those R&D labs had completely overlooked this failure mechanism.....
So, because Cyclone was being run by a self-proclaimed technical genius, there was no systematic investigation of lubrication issues, and they just kept building engines the same way and watching them quickly fail. Even after they hired Ohio State University to make the WHE engine work and the engineers there concluded no known bearings will survive in a Cyclone engine with water lubrication and proposed building a bearing test machine to develop new bearing materials, Harry Schoell's response was to ignore that and design new engines that fail in exactly the same ways.
If a working Cyclone engine is ever developed, it will be purely by accident rather than by intent. Given the history, though, lottery tickets are a far better investment than CYPW.
Hey Tom, Harry Schoell dealing with laws of physics is like the old Bugs Bunny gag: "I know this violates the law of gravity, but fortunately for me, I never studied law..."
It will sure be interesting to watch the stream of excuses that are going to start about the end of this year as the 1500 hp Mark 10 fails to enter "final testing".
The recent video shows the 5 hp Mark 1 spinning without a load for about a minute:
Notice the condenser and fan are much bigger than the engine. In addition to the hoses going through the wall we can see, there are two water hoses connected to the rig, plus an electrical cord plugged into an outlet on the upper right.
Here's the control panel with the engine running:
The gauge in the lower left is "High Pressure", and notice the needle is near the bottom of the scale. Obviously the engine isn't producing any power at all with the pressure so low.
This is the best Harry Schoell has been able to do, a 5 hp engine that can run for a minute while producing no power, but needing to be plugged into the wall just to spin.
Now imagine that scaled up 300 times. Let's pretend that car radiator and big fan is big enough to cool the 5 hp engine producing 5 hp. If it's 2 x 2 feet, or 4 square feet, the Mark 10 condenser will need to be 1200 square feet, or 35 feet x 35 feet. The Schoell Marine building won't have enough electrical supply to power the cooling fans. The whole industrial park they're in might not have enough electrical supply.
Let's say the 5 hp engine could survive running at the 1800 rpm shown on the control panel. A bigger engine would have to turn more slowly to keep the piston and bearing speeds at similar levels. Engine displacement has to increase to increase power output, e.g., 300 times greater for the 1500 hp version, but displacement has to increase even more as the as the maximum rpm drops. Let's be generous and say the maximum rpm drops to 1/3rd or 600 rpm (which will still increase bearing speeds far beyond those of the small engine). Displacement is now 900 times larger. The linear scaling factor on all dimensions is 9.6 (cube root of 900).
If the Mark 1 is a foot in diameter, the Mark 10 will be 9.6 feet.
If the Mark 1 block is 6 inches high, the Mark 10 block will be 4.8 feet high.
At 600 rpm, 1500 hp means 13,130 lb-ft or torque. A dynamometer that could absorb that power at that torque will be about the size of a pickup truck, and require its own major cooling facility.
But this is still if the bearing speeds are run much higher than is being done in that Mark 1. Running the same bearing speeds would mean the Mark 10 will run much lower rpm and therefore be even bigger.
And we haven't even considered what the boiler would need to be. That hillbilly rig Harry is now hiding behind the wall isn't going to scale up. Anything remotely large enough is going to attract the interest of the state boiler inspector, and nothing Cyclone does is anywhere near meeting the boiler codes.
So, yeah, as their former chief technical advisor calls them, Harry Schoell is "Delusions R Us".
What the hell does Frankie do, other than hire consultants to do the work she and the CFO are supposed to be doing?
https://www.sec.gov/Archives/edgar/data/1442711/000149315218007927/ex10-61.htm
This Consulting Services Agreement (the “Agreement”) is entered this 1st of October 2016 between Cayden Capital LLC, located at 4829 NW 124th Way, Parkland, FL 33076 (“Consultant”), and Cyclone Power Technologies, Inc., located at 601 NE 26th Ct., Pompano Beach, FL 33064 (“Company”).
WHEREAS, the Company requires the services of an expert to advise in Investment Banking Services, and the Consultant has such experience and expertise;
NOW THEREFORE, in consideration of the premises and the mutual covenants and agreements of the parties hereinafter set forth, the parties hereto hereby agree as follows:
Engagement
1. Company hereby engages Consultant and Consultant hereby accepts the engagement to become a business consultant to the Company and to render such advice, consultation, information, make referrals and introductions and services to the Directors and/or Officers of the Company regarding public company financial and business matters, real estate expansion plans, and other corporate strategic growth matters for the Company. It shall be expressly understood that Consultant shall have no power to bind Company to any contract or obligation or to transact any business in Company’s name or on behalf of Company in any manner.
Term
2. The term (“Term”) of this Agreement shall commence on the date hereof and continue for 12 months (12) months. This Agreement may be terminated on 30 days notice by the Company, or immediate by the Company in the case of a breach by the Consultant of this Agreement. In the case of an early termination, the Company shall have no further obligations to the Consultant as of the date of termination. This Agreement shall be extended for six (6) months terms at the end of the initial Term, unless either party gives notice within ten (10) days prior to the new term of its desire to terminate this Agreement.
Compensation and Fees
3. Company agrees to pay and deliver to Consultant $10,000.00 (U.S. Dollars) per month for its services during the Term hereof. Starting on October 1, 2016.
4. In the event that the Company is unable to pay the Consultant its $10,000.00 monthly fee, both the Company and Consultant agree that the debt will be convertible into equity at a then agreed upon discount to its value at the time the payment should have been made.
5. The Stock shall be restricted bearing all appropriate legends. Shares shall not be considered earned until delivered to the Consultant.
This Consulting Services Agreement (the “Agreement”) is entered this 1st of August 2017 between Larry Bornstein, located at 8005 Valhalla Drive, Florida 33446 (“Consultant”), and Cyclone Power Technologies, Inc., located at 601 NE 26th Ct., Pompano Beach, FL 33064 (“Company”).
WHEREAS, the Company requires the services of an expert to advise in financial, business and real estate matters, and the Consultant has such experience and expertise;
NOW THEREFORE, in consideration of the premises and the mutual covenants and agreements of the parties hereinafter set forth, the parties hereto hereby agree as follows:
Engagement
1. Company has and continues to engage Consultant and wishes to provide additional compensation for past work. The Company is and has been happy with all services provided and because the share price dropped so low, that the actual was far below what was originally contemplated when the previous consulting agreement was executed.
Term
2. This is a one-time bonus payment for services already provided.
Compensation and Fees
3. Company agrees to pay and deliver to Consultant 100,000,000 shares of restricted common stock of the Company (the “Stock Consideration”).
4. The Stock shall be restricted bearing all appropriate legends. Shares shall be considered earned August 1, 2017 regardless of when the Company issues the shares.
This Consulting Services Agreement (the “Agreement”) is entered this 1st of August 2017 between Chad Tendrich, located at 1375 Gateway Blvd, Boynton Beach, Florida 33426 (“Consultant”), and Cyclone Power Technologies, Inc., located at 601 NE 26th Ct., Pompano Beach, FL 33064 (“Company”).
WHEREAS, the Company requires the services of an expert to advise in financial, business and real estate matters, and the Consultant has such experience and expertise;
NOW THEREFORE, in consideration of the premises and the mutual covenants and agreements of the parties hereinafter set forth, the parties hereto hereby agree as follows:
Engagement
1. Company has and continues to engage Consultant and wishes to provide additional compensation for past work. The Company is and has been happy with all services provided and because the share price dropped so low, that the actual was far below what was originally contemplated when the previous consulting agreement was executed.
Term
2. This is a one-time bonus payment for services already provided.
Compensation and Fees
3. Company agrees to pay and deliver to Consultant 100,000,000 shares of restricted common stock of the Company (the “Stock Consideration”).
4. The Stock shall be restricted bearing all appropriate legends. Shares shall be considered earned August 1, 2017 regardless of when the Company issues the shares.
This Consulting Services Agreement (the “Agreement”) is entered this 1st of October 2017 between Xavier Romero, located at 45th East 9th Court, Florida 33010 (“Consultant”), and Cyclone Power Technologies, Inc., located at 601 NE 26th Ct., Pompano Beach, FL 33064 (“Company”).
WHEREAS, the Company requires the services of an expert to advise in financial, business and banking/investor matters, and the Consultant has such experience and expertise;
NOW THEREFORE, in consideration of the premises and the mutual covenants and agreements of the parties hereinafter set forth, the parties hereto hereby agree as follows:
Engagement
1. Company hereby engages Consultant and Consultant hereby accepts the engagement to become a business consultant to the Company and to render such advice, consultation, information, and services to the Directors and/or Officers of the Company regarding advise, consultation, information and services not limited to business development in Mexico, Central and South America; additional services in social media including but not limited to Facebook, Twitter and SnapChat. It shall be expressly understood that Consultant shall have no power to bind Company to any contract or obligation or to transact any business in Company’s name or on behalf of Company in any manner.
Term
2. The term (“Term”) of this Agreement shall commence on the date hereof and continue for twelve months (12) months. This Agreement may be terminated on a 30 day notice by the Company prior to , or immediate by the Company in the case of a breach by the Consultant of this Agreement. In the case of an early termination, the Company shall have no further obligations to the Consultant as of the date of termination. This Agreement shall be extended for twelve (12) months terms at the end of the initial Term, unless either party gives notice within ten (10) days prior to the new term of its desire to terminate this Agreement.
Compensation and Fees
3. Company agrees starting October 1, 2017 to pay and deliver to Consultant $10,000 worth of restricted common stock of the Company (the “Stock Consideration”) per month (convertible at a reasonable agreed discount) for its services during the Term hereof and shall be considered earned on the first of each month (even if actual certificate is issued at a later date)
This Consulting Services Agreement (the “Agreement”) is entered this 1st of February 2018 between Larry Bornstein, located at 8005 Valhalla Drive, Florida 33446 (“Consultant”), and Cyclone Power Technologies, Inc., located at 601 NE 26th Ct., Pompano Beach, FL 33064 (“Company”).
WHEREAS, the Company requires the services of an expert to advise in financial, business and banking/investor matters, and the Consultant has such experience and expertise;
NOW THEREFORE, in consideration of the premises and the mutual covenants and agreements of the parties hereinafter set forth, the parties hereto hereby agree as follows:
Engagement
1. Company hereby engages Consultant and Consultant hereby accepts the engagement to become a business consultant to the Company and to render such advice, consultation, information, and services to the Directors and/or Officers of the Company regarding public company financials and audit for the Company. Specifically, the Consultant shall be the lead for the company in dealing with the auditors and the company to completely manage the audit process, manage its timing, conference calls, all document flow and any other items required to complete the audit and public reporting. Additionally, Consultant will be able to work with Company and other Consultants to complete budgets, forecasting and going forward projections for the company, as well as assisting in documents used to help with acquisitions and mergers and capital raising. It shall be expressly understood that Consultant shall have no power to bind Company to any contract or obligation or to transact any business in Company’s name or on behalf of Company in any manner.
Term
2. The term (“Term”) of this Agreement shall commence on the date hereof and continue for twelve months (12) months. This Agreement may be terminated on a 30-day notice by the Company prior to, or immediate by the Company in the case of a breach by the Consultant of this Agreement. In the case of an early termination, the Company shall have no further obligations to the Consultant as of the date of termination. This Agreement shall be extended for twelve (12) months terms at the end of the initial Term, unless either party gives notice within ten (10) days prior to the new term of its desire to terminate this Agreement.
Compensation and Fees
3. Company agrees starting February 1, 2018 to pay and deliver to Consultant $10,000 worth of restricted common stock of the Company (the “Stock Consideration”) per month (convertible at a reasonable agreed discount) for its services during the Term hereof and shall be considered earned on the first of each month (even if actual certificate is issued at a later date)
Remember when people used to say Cyclone was a solid investment, because, just look at all those assets?
Now?
Cash: zero
Inventory: zero
Net property and equipment: $65,832, which will be almost all leasehold improvements on the former Schoell Marine building
Net patents, trademarks and copyrights: $90,173, which is based on the cost of obtaining them and ignores the fact they've never demonstrated any of the patented technology actually works.
Other assets: $7,660, who knows what this is?
There's not enough left to pay a lawyer to write a letter, and that's not counting the 10 existing defaults or any of the other creditors.
But a million a year is still going into "Other general and administrative" with not a word of explanation. Other than Schoell Marine, and therefore into Harry and Frankie's pockets, where could all this money be going?
"Final testing of the Mark 10 1500 horse power unit is projected by year end."
Why not? The Mark 5 has been in "final testing" for three or four (or is it five?) years now.
"As shown in the accompanying consolidated financial statements, the Company sustained substantial operating and other losses and expenses of approximately $2.1 million for the year ended December 31, 2017, and $2.1 million for the year ended December 31, 2016. The cumulative deficit since inception is approximately $63.0 million. "
And Frankie says Cyclone has never had the money to make a working engine....
"On October 1, 2017 the Company executed a consulting agreement known as “Romero Consulting Agreement date October 1, 2017” to render such advice, consultation, information, and services to the Directors and/or Officers of the Company regarding advise, consultation, information and services not limited to business development in Mexico, Central and South America; additional services in social media including but not limited to Facebook, Twitter and SnapChat. "
Maybe consulting on where to offshore all the investor money that was siphoned off into Schoell Marine?
"As of May 24, 2018, an investor provided $199,500 for additional development of the Cyclone Engines as part of a binding letter of intent for $5 million. The consideration is to be the issuance of Preferred A shares, which represents 20% ownership of the Company at the completion of funding. The funds are to be paid over a 2-year period upon reaching various milestones."
Uh-oh. The Secret Investor is requiring Cyclone to meet milestones. Hope they're patient.
Over 5 billion shares issued, and the independent directors still hold zero. Maybe they know something about Cyclone's prospects?
"Total current assets $193"
"Total current liabilities $5,435,362"
"Total general and administrative $1,125,728"
"Total research and development $238,682"
Now $4.72 in G&A for every dollar of R&D.
"Audit Fees – Soles, Heyn & Company, LLP $32,500"
So much for Frankie's BS about the costs to file financial statements.
"On a pro-forma basis if the convertible debt and related interest and penalties were converted at respective conversion rates and applied discounts at the year end common stock price, for the years ended December 31 2017 and 2016 an additional 5.5 billion and 658 million shares would be issuable, respectively. "
10 billion issued shares, here we come!
Page F-13 lists five convertible notes in default. F-18 lists five leases in default. What was Frankie saying about Cyclone having settled all the defaults?
Hmmm. I can't find the prediction of engine production starting in six months.
But, as usual, there's no honesty about how badly the engines work.
Woohoo! Cracked the 5,000,000,000 mark!
"The number of shares outstanding of the registrant’s common stock as of May 15, 2018 is 5,292,794,570"
Expect massive dilution to start...Now!
CURRENT ASSETS...March 31, 2018...December 31, 2017
Cash.........................$ 111,060............$ 298,673
Cash burn rate was $62,538 per month, which puts the cash balance at zero some time next week.
Fortunately (for the insiders), there's still a lot of room to print stock:
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:
For the three months ended March 31,....2018.................2017
BASIC..............................................48,384,009.........35,044,689
That's a 38% increase in one year when they had plenty of cash.
Oh, and their only business remains finding a business to get into.
The whole QPWR story in a nutshell:
Included in the expenses for 2017 and 2016 were the following material items: Payroll decreased to $265,473 in 2017 from $583,949 in the prior year (55%) due to fewer people employed by the Company and the two executives being paid as consultants through most of 2017. Professional fees decreased to $876,372 from $988,848 in the prior year (11%) due to reduced legal costs and one less consultant retained in 2017.
Hey Tom, I think you are being quite charitable. Harry Schoell is driven by ego, but he has always gone beyond the line between right and wrong.
Remember all the "engines" he built out of plastic cookware, and passed off as real, working engines with fantastic performance? Here's a story from 10 years ago now: https://www.designnews.com/automotive-0/external-combustion-engine-piques-interest-sae/42994269750149 Notice the quote:
Schoell added the engine is able to use water for lubrication because it has no metal-to-metal bearings.
At the show, the company demonstrated a 100-hp version of the engine that weighed just 35 lbs.
Oh man, thanks for the head's up.
There's also a new video (well, from a month ago now) at https://www.facebook.com/CyclonePowerTechnologies/videos/1854997644532292/
Much better than the last one with Frankie narrating.
As usual, 70 seconds of a shaft spinning, powering nothing.
They must have read my statements that their test rig looked like something put together by a hillbilly from junk pulled from dumpsters. Now they've got a big, white box hiding a lot of details and at least two hoses attached to something on the other side of the wall.
Harry used to demonstrate a WHE engine, that 12 cylinder job. He could turn a knob and it would go faster or slower. He didn't tell people that there was an electric motor under the table that was powering the "engine". In this video Harry swings that lever left and right and the engine speed doesn't seem to change. Maybe he's gone back to his previous scam of make-believe engines powered by a hidden electric motor.
And in the comments:
Frankie Fruge lubrication is water and if you dint think water is a lubricant take the rubber mat out of you ceramic tub. unlike oil lubricants we don't sheer the metal and get mental in our lubricant that is one reduction in wear. maintenance will be water filter changes We have no metal to metal contact another wear factor eliminated. We have bearings that have a life cycle from SKF depending on the dury cycle those will have to be changed. electric motors again with duty cycles belts. Rotary valve a 15 minute job piston rings a 45 minute job depending on dury cycle. The engine itself only has 7 moving parts All the rest are sub systems water pumps fuel pumps ekectric motors electronic controls just the usual stuff.
Frankie must be all out of BS, so no annual report.
Or too busy cashing checks from the Secret Investor. ;)
I wonder if we'll ever find out the truth behind her story of an investor going to put $5 million into Cyclone and of all those engineers she said Cyclone hired. Probably as likely as finding out the truth of just how embarrassingly bad the performance of Cyclone engines really is.
Tomorrow's the deadline for filing the late annual report.
None of the various engine models work... The Secret Investor story has gone cold... The one customer (ever) that had reported running a Cyclone engine, IBES of Dubai, has given up on it... No suckers with money have shown up to buy a Cyclone solar system...
So from Fruge and Schoell's larcenous point of view there is absolutely no reason to file the annual report they are legally required to file.
Let's see what happens tomorrow.
Somebody was posting on this board a while ago with details on how the after-hours trades were being performed. Basically it was MMs pushing stock back and forth. The trades at 0.000098 had that two millionths of a dollar per share subtracted as the trading cost.
Cyclone used to pay stock promoters to tout CYPW in their newsletters. I'll bet lately they have been paying MMs to churn the stock to make it look like there's investment in Cyclone.
Typical of the long term pattern:
- Stick plastic cookware together, call it an engine and make great claims about the "engine's" performance.
- Create a "Board of Advisors" made up of people with solid credentials, then never ask their advice.
- Tout awards from magazines that were obtained by actively misleading them into thinking a working engine existed.
- Pay hundreds of thousands for patents on ideas that haven't even been tried, let alone shown to work, and use them as "proof" that the Cyclone engine works.
- Build expensive, shiny yellow objects and make lots of announcements of how speed records are going to be set, without having anything like a working engine.
- Hold an investors' open house with slick Powerpoint graphics and state all the technological problems had been "overcome".
- Put out a PR about a Secret Investor who will be buying 20% of the company for about 100 times its market value.
... Basically, all part of one big confidence scam.
I'll bet if this annual report is filed that it will continue claiming 10 engines are being tested at customers' sites and that they are turning away offers of sponsorship and even purchase of the land speed record car.
Same old, same old.
Or even copy-and-paste correctly. The Annual Report 10K delay notice they filed yesterday says:
PART III. NARRATIVE
The Company is unable to file its Quarterly Report on Form 10-Q for the period ended September 30, 2017 by the prescribed date without unreasonable effort or expense because the Company’s financial review with its auditors is in process and has not been completed. The Company believes that the Quarterly Report will be completed within the five day extension period provided under Rule 12b-25 of the Securities Exchange Act of 1934.
And they still can't make a steam engine work....
Something James Watt did over 200 years ago. Plus an awful lot of people since.
Lying and printing stock are the only things Schoell and Fruge have been successful at.
Happy Annual Report day!
Bet they don't file it today. After all, they'd have to report just how much cash they're getting from the Secret Investor (not much) and that they haven't delivered any engines to that generator company for installation into generators.
If they were honest enough (ha!) they'd also report that IBES in Dubai has given up on making their Cyclone engine work, and that the defense contractor in Denmark is still bankrupt (and the engines Cyclone was building for them still haven't run for 10 hours).
There's not much Fruge can BS into positive news, so, not much reason from Cyclone's perspective to file.
Maybe when they do get around to filing they'll predict setting the land speed record for steam cars, once people donate enough cash for "safety equipment".
Oh, I almost forgot they will also predict engine production starting in six months.
All this stock going for nothing while the Secret Investor is pouring cash into the company. Go figure.
Monday is the deadline for filing the annual report. Any bets they'll make it?
You know, I'm almost persuaded to give Cyclone all the safety equipment they claim they're waiting on before running that land speed record car. Basically take away all the bogus excuses and put the car on a track. Then watch that "beast" of a Cyclone engine propel the car.
I'd bet people would pay to watch that.
Well, let's look at what the PR actually said. The relevant part:
Cyclone has also seen a major reduction of over 40% on the convertible debts that have been plaguing the company for many years.
Cyclone Power Technologies (CYPW) is pleased announce that we have entered into settlement agreements with all of the holders of judgments against the company, and have greatly reduced the amounts of outstanding debt on the books over the past 6 months.
More Cyclone BS spin:
if you read the past release about settling judgments and reducing debt by over 40%.
I figured out why IBES of Dubai can't get their Mark 3 engine working right -- they are relying on Harry Schoell's delusional claims of engine efficiency.
They've been blaming the inability of the engine to make any power on the heat exchanger not working correctly, and have been trying different designs with no success: https://www.ibes-energy.com/news/
The real problem is that the Cyclone engine is far, far less efficient than Schoell claims. His 34+% thermal efficiency claim is pulled right out of the air. It's not based on any real testing or measurements.
Even the last videos of the Marks 1 and 3 engines didn't show any apparatus for measuring efficiency. (Why bother, I guess, when you can barely get the engine to spin under its own power?)
To get the rated output of the Mark 3 engine, IBES needs a far bigger furnace and boiler (heat exhanger) to provide the very large quantity of steam necessary. The little furnace and boiler just can't provide enough.
Of course, a bigger furnace, boiler and greater fuel usage will completely overwhelm the economics of the idea as a consumer product.
Just an example of what happens to anyone who believes anything Harry Schoell or Frankie Fruge say without independently verifying it.
Funny, isn't it? PRs that claim a secret investor is pouring cash into Cyclone, followed by the biggest stock dump in their history.
Then someone pops up claiming Ohio State University never said they couldn't make water lubricated bearings work, then just as quickly disappears once the proof is provided.
I've added a Technology section to the intro with links to information on just what Cyclone's technology really is.
That PR said Cyclone settled the judgements and defaults with creditors. Looks like they settled those debts with billions of shares of new stock. Which those creditors are getting rid of as fast as possible.
And it looks like the stock exchange has added a decimal place to CYPW to keep track of the price drops in more detail.
The new Cyclone Mark 10 engine is another milestone for Cyclone.
As Chuck had pointed out a while ago, you can tell when Harry Schoell has given up on making one engine design work when he announces a brand new design.
Cyclone has gone through a variety of models of the WHE engine, the Genie, the S-1 (solar), S-2 (the military genset engine), the Marks 2, 5, 6, 1, 3, 7 and now 10. Plus some others like the lawn mower engines.
The last few years Frankie has been portraying the Marks 1 and 3 as the saviors of the company, going into production real-soon-now and having worldwide dealers in place. From her letter to shareholders from November 2015:
Dear Shareholders:
Cyclone Power has been working very diligently on its primary focus of getting product to market. We completed Beta testing and have made large strides towards the production of the Mark 1 (5.5 HP constant duty rated) and Mark 3 (22HP constant duty rated) engines. Our prime manufacturers and integrators will have final pricing available soon so that Cyclone can begin taking purchase orders for generators powered by the all fuel Cyclone engines. Cyclone's prime integrator for an all fuel generator has stated they will have product ready for delivery in Q2 of 2016. There are two additional OEM's ready to purchase the engines for integration into their products. One is an ATV (all-terrain vehicle-US based) and the other is solar (European).
Every time there is a PR announcing Great Things, there's a big dump of shares on the market.
Funny how with their secret investor supposedly dumping millions into Cyclone, there is so much new stock showing up at such low prices.
Maybe Harry Schoell is only hiring the "best" engineers...
On water lubrication of Cyclone engines...
If Cyclone has made water lubrication work, then why have they not publicly demonstrated any of their engines working with water lubrication?
Why haven't we seen that expensive custom speedboat in the water being pushed around by a water-lubricated Cyclone engine?
Here's the link to the OSU presentation so everyone can read it for themselves: https://web.archive.org/web/20150923212126/http://www.cyclonepower.com/2014/IAASP_Presentation_OSU-CAR_Cyclone_March-8-2014.pdf
Page 19:
EXAMPLE OF CRITICAL PATH ISSUE: BEARING ANALYSIS
•WHE engine uses a closed loop steam system and the exhaust steam is ported through the crankcase.
•Consequently the bearings cannot be lubricated using normal pressurized oil lubrication.
•Modelica and Solidworks have been utilized to define the range of pressure loads and dynamic loads on the bearings
•A combination of testing and additional analysis will be used to develop a robust bearing and lubrication scheme for the Gen 1 Production Engine
BEARING ANALYSIS
•Little or no data exists outside Cyclone’s own experience for the use of water lubrication for either ball bearings or roller bearings in our environment and under our loadings. Calculated life using just the bearing load and the scaling factors for the viscosity of the lubricant indicate that very high ratio of load capacity to applied load is required.
•Minimal data exists for the use of water lubricated polymer journal bearings in our environment and under our loadings. Factors of a 4:1 increase in life have been shown with submerged operation, but little long term wear data is available with pressurized water lubrication.
•For long term durability, we will need to test bearings and bushings under different lubrication schemes and determine to what extent the lubrication can extend the life of the bearing. Test data will be used to complement bearing analysis and will be used to determine accelerated testing factors.
TEST PROCEDURE: BEARINGS
•Initial checks
–Check all safeties work
–Check all sensors read properly
•Shakedown
–Run startup procedure
–Check basic operation and functionality
–Run shutdown procedure
•Core testing (250 hrs)
–Run extended period at expected engine loads and environment
–Repair/replace failures up to 250 hrs
–Make improvements or design changes if no bearing survives 250 hrs
•Stage 2 testing (2500 hrs)
–Assess wear and expected life (make improvements if required)
–Run extended testing to validate expected life
•Stage 3 testing (beyond 2500 hrs)
–Validate expanded operating ranges (load, speed, etc.)
–Validate any design improvements
You've probably been lied to again by Frankie Fruge:
Molten Salt wrote:
Which I have reason to believe is going splendidly!
Frankie Fruge <frankie@cyclonepower.com>
Attachments2:14 PM (0 minutes ago)
to me
Dear XXXX,
Thank you for your interest and investment in Cyclone Power. Please see attached for the status of the Cyclone Engines. All of the Corporate partners have been either delivered and are in their testing procedures or the money for production models was sequestered as two of our large contracts were government funded. Check out link www.teamsteamusa.com this will be running as soon as we get another $20,000 to finish the car. We cannot take Cyclone money to pay for the car just the engine.
We will be delivering the two engines to Combilift in the next 30 days and it will be installed in a fork lift.
Please do not hesitate to contact us.
Kindest regards,
Frankie Fruge
President/Director
Cyclone Power Technologies, Inc.
Frankie@Cyclonepower.com
954-943-8721 - phone
954-788-6565 - fax
SKYPE: cyclone.power.technologies
Rate of DILUTION will be increasing now.
We've seen the number of outstanding shares increase from 2,726,067,954 on December 18, 2017 to about 3,130,434,783 on February 8, 2018. That's about 60 million new shares per week of dilution.
Those convertible notes Cyclone sells to raise some cash convert to shares at a 45% discount to the lowest recent closing price. Now that that low close is $0.0002 instead of $0.0003, the notes will convert to 50% more stock.
Which all gets dumped on the market.
But, hey, Cyclone might just pull a rabbit out of their hat any day now, right? Their "genius" Harry Schoell has spent 14 years and tens of millions of dollars and not been able to make an engine that can run for 10 hours. His engine is bound to start working perfectly any minute now, isn't it?
Ahh, yes, the Cyclone LSR fairytale.
Harry Schoell's story now is that Cyclone didn't pay for the second car, in order to show up Chuk Williams after Harry utterly failed to provide any kind of working engine, like he publicly promised.
The story now is that "sponsors" paid for everything except the engine, which is the only thing Cyclone paid for.
You can see in the LSR photo gallery all the pictures of Cyclone employees building the body for the car. The orange things are production fiberglass molds. You see, Harry Schoell's plan was that all the Cyclone engine dealers they were going to sign up would want an empty LSR car body to display with the engines. You can see these molds now piled on a trailer in the photo of Cyclone's building in the intro. But hey, "sponsors" paid for these molds, not Cyclone shareholders.
Cyclone created the "Performance Division" in order to show up Chuk Williams, and hired Nelson Hoyos the drag racer to be the "Director". No doubt "sponsors" paid his salary.
And you can see from the sponsorship page just how little sponsorship there was in 2012 and after when Cyclone was trying to show up Chuk Williams. (The sponsors in 2011 and before were Chuk's sponsors that Cyclone later claimed had sponsored Cyclone.) Just look at all those heavy hitters: Driven2Win was Nelson Hoyos' drag racing school, Precision CNC was the machine shop paid to make the WHE engines, a website company that probably made their website, a Florida orange chemical company that was providing orange oil as fuel, Steampower.com which appears to be a single, short webpage, and on and on. The personal sponsors were the full roster of Cyclone employees.
Then there was the update video in February 2015 (yes, three years ago now).
Hi Guys
Check out the new Cyclone streamliner site. It shows all the details of the new project.
We have been invited to make the first test and record runs at the NASA strip at Cape Canaveral.
We would like to invite all our fellow sponsors to be apart of the new project.
Cyclone was also a sponsor of the previous program, and though we did not receive any sponsorship money, we will honor you name on the trailer and credits to you.
We expect to bring the new streamliner to Berrien Springs in September. Nelson the driver is looking forward to being there also. He is a new SACA member and steam enthusiast.
R/S was mentioned by someone as being likely so CYPW could get out of the triple zeros.
Cyclone has been running on nothing but dilution for years now and the price can't go much lower. A R/S could bump the price up a little and give them room for more dilution.
Agree Marlin, this is just another figment of Harry Schoell'a active imagination. Somebody on the steam car board once told him "Stop telling us what it's GONNA do, tell us what it has DONE."
If this solar thermal storage was as easy to implement as Cyclone claims, they would have made one by now. Cyclone had sold plans to a group in Mexico two years ago, and supposed to deliver a working engine to them in August 2016.
Like so many other Cyclone plans, this one also was never mentioned again. There's no working Cyclone engine, and obviously not even Cyclone has tried to build this solar system.
Like always, Harry Schoell and Frankie Fruge are selling a dream rather than a reality.
A Cyclone "binding" LOI means nothing. Cyclone has still not submitted the LOI to the SEC as material information about the company, which means they don't want people to know what was in it.
What is "binding" could be as little as the secret investor will be allowed to do DD for six months. Or that the parties will continue discussions.
Remember the million dollar purchase order Cyclone announced in a PR. They never saw a penny since the details of the PO said Cyclone engines had to meet a minimum performance level.
This LOI could easily have a similar provision (and if the secret investor isn't a total idiot, certainly will).
A reverse split was mentioned by someone who appears to know a lot about Cyclone management's thinking. The post was deleted for being off topic, but moderators can still see it.
That's over 400,000,000 new shares in less than 2 months.
Tough for a stock to increase in value when so much new stock is being printed.