Cyclone stiffed those California auditors for a lot of money. Those auditors mentioned it in a letter to the SEC saying they resigned as Cyclone's auditors of record.
The new Florida auditors will know this so they are going to be demanding cash in advance before doing any work for Cyclone.
Cyclone raised some cash last year by selling licenses and development contracts. The only way they could have done this was by lying to the customers about their engines actually working.
There haven't been any recent announcements about them conning any new customers, and the existing customers won't be making any additional payments since there are no working engines. So Cyclone hasn't raised any cash lately.
Cyclone also has no assets to sell. The last reports mentioned writing off a large amount of promotional equipment (probably Frankie's boat included) with no associated revenue.
Unless Schoell Marine starts kicking back some of the cash that disappeared into it, Cyclone will not have any money to pay the new auditor and so there will be no new financial reports forthcoming.
And we are now four months past the time when the test results for the military genset were promised. Wonder how that testing worked out?
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