Flying car company jostled by financial turbulence

Moller International says it has concerns about its financial future.

The company, in a filing Monday with the Securities and Exchange Commission, notes that it has run up more than $40.5 million in accumulated deficits and is concerned whether it will have enough money to continue development of its vertical-takeoff and landing Skycar and its Rotapower engines.

“Successful completion of product development activities for either or both of these programs will require significant additional sources of capital,” it says in its Form 10-QSB/A filing with the SEC.

“Continuation as a going concern is dependent upon MI’s ability to obtain additional financing sufficient to complete product development activities and provide working capital to fund the manufacture and sale of MI’s products. These factors raise substantial doubt as to MI’s ability to continue as a going concern,” it says.

Source:  Central Valley Business Times

Advertisements

2 Responses to “Flying car company jostled by financial turbulence”

  1. Freddy Drifter Says:

    The USA is bankrupt, so is Moller and me. Why am I not surprised.

  2. sonja Says:

    wow! this is the coolest car evea say can you give me one lol!

    sweet ness

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: