1) WHE Gen is almost as broke, and aren't going to be paying that $150K, ever.
2) The $300K from Combilift will only occur IF they deliver the working Mark 5 engines (they "are hopeful for a 2015 delivery"), AND Combilift accepts them as usable to power forklifts, according to the contract. Combilift was promised delivery in July 2012. Why on earth would they want to waste any more money on this venture?
3) Salaries to "the majority of employees" being forgiven means the last paychecks bounced, and since all the assets are secured by creditors, the employees will never see their money, so why not write it off?
4) Cyclone (well, shareholders anyway) has been paying through the nose for facilities and services to Schoell Marine, which is 100% owned by Harry. Cyclone has been paying high rent for the entire Schoell Marine building. For instance, Notice the boat under construction in the background and the fiberglass cutting table in the foreground with rolls of fiberglass on the right. Schoell Marine has continued to operate in the space they rented to Cyclone.
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