Professor, attended the Money Show where jt & Co are working to sell the latest Private Placement. His report is as honest and thorough as any you will find. I encourage you to visit Raging Bull board and read the NEW time lines as they have moved... again... with advance warning of a new LARGER PP in the future.
My timeline is holding. May have to bump it back though.
Well lets see... we went from the NAVY secretly flying UAVs to NASA funding a engine for a light weight plane to a commercial bus co. building a ac compressor to FORD testing a transmission pump and seat pump to... and today we have an un-named interested partner and a concept we are still drawing. My take is he doesn't have to build anything. He is selling dreams that pay the bills. If he wanted success in my opinion... he would sell 50% of this BILLION $ projected industry and fund his other opportunities who are languishing just like Reg. At this pace, in my opinion again, it is sad to say jr won't live long enough to see his dreams become fruitful. Mankind's life expectantcy just isn't that long based on his acheivements to date.
Clear as Day, I will take offense at you attacking Professor. He is a good Man who spent the money to attend so you will know.
>>I attended the Orlando Money Show ---arriving late Wednesday and departing Friday just after noon EST. REGI's booth was "manned" by Ky Brandon and Monique Van Oord. JR was present at different times for the three days I was there.
This was the first time I had met him (although I had spoken with him on the phone on two previous occasions) and was able to speak with him at length about several posters' concerns as well as some of my own. I found him to be straightforward and patient. He seemed interested in my questions and I believe he answered them truthfully. My observations follow along with his paraphrased answers as best as I remember.
PP's. I was fuzzy about whether or not this recently announced PP is separate or part of the one that was supposedly closed in December. Additional review by Belcam was apparently necessitated by the Fortune 1000 company. This additional cost was borne by RGUS, due to their desire to maintain total ownership/control of the engine and any design improvements. The major portion of the proceeds will be used to pay the Belcam bill. The terms of the PP are available from Reg Tech. Basically one share at 15 cents and a one for one warrant at 20 cents expiring one year from date of issuance. JR indicated that a much larger PP may be in the future at a much higher price depending on the impact of a stock analysis to be conducted in the future. I got the impression that should this PP materialize, the proceeds would be used for engine development.
Drawings. Will not be released because RGUS does not want to provide any technical specifications (proprietary secrets) that could possibly be used by competitors.
Engine Parts. Parts are not as yet being fabricated. Waiting for final designs from Belcam and approval from the Fortune 1000 company. Once this step is reached, Pace Company is ready to proceed. March is apparently the target date for completion of the parts design. In any case RGUS is allowing another 3 months for parts fabrication and assembly. Add another 3 to 6 months for testing/modifications. A four Phase outline was "on the table" and I'll try to post this ASAP. If everything goes according to plan-- it'll probably be the end of the year at best before we see any definite, concrete results.
Vanes. Paul Porter, formally of Jet Seal modeled two different vane designs. These two designs were merged into one. This has apparently been accepted by all parties. I got the impression that the test rig would not be needed.
I think that this addresses the questions/concerns raised by Jolly, and several others. Please recognize that i did not record my Q&A session so the above represents my interpretation and paraphrasing of JR's responses. Take all of this with a grain of salt ----I did my best.
In MHO, the addition of Bob Grisar (formally of Radian who functions as the team leader), Paul Porter who is the seal expert and Al McKnight whose concern is thermodynamics was critical to the engine's development. Each has a particular expertise and each member of the "technical team" seem to complement one another.
Unfortunately, it seems that this project is going to take a lot more time and probably more money to boot. Take all this--keeping in mind what you paid for it. I also took some pictures of the booth and will likewise try to post.<<