Cyclone Power Technologies, Inc. (fka CYPW)

[BuddyWhazhizname]

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.

That means a 25% jump in the number of common shares for the investor to end up with 20% of the total.

Non-dilutive, indeed.

Still no explanation of why their "manufacturing partners" are not building the Marks 1 and 3 engines when their "integrator" is ready to put generators on them and their "international distributors" have customers lined up ready to buy.

But, they now are back to working on the Mark 5 for solar power, plus the 1500 hp Mark 10 will be done "final testing" by the end of this year.

They haven't filed that binding letter of intent with the SEC, as required by law. No doubt Frankie doesn't want shareholders to know the truth of what it contains.

Can't wait for the next video of a minute of a shaft spinning, powering nothing, to demonstrate what progress Harry has made with all his ingenious inventions...