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Flying-car company founder files Chapter 11

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posted on Jun, 20 2009 @ 03:12 PM
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Flying-car company founder files Chapter 11


Inventor, engineer and flying-car company founder Paul Moller filed for personal Chapter 11 bankruptcy protection, listing assets of $46 million and debt of $6.3 million.

Much of the claimed assets include stock in Moller's Davis-based flying car company Moller International Inc. and its subsidiary Freedom Motors.

Moller is the company's majority shareholder, and he had been providing funds for the company to continue operating, including refinancing personal real estate to fund the company. He has been trying to sell the company and some of its proprietary technology for several years....


Well the inventor of the first viable flying car has filed for Chapter 11 bankruptcy protection. I guess it will be a while longer before we finally get our flying cars.

Seems as though investors are just not interested in taking the company to new heights.




posted on Jun, 20 2009 @ 03:17 PM
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Moller has been trying for ages and suspicions were raised when he just kept on getting investment with no demonstrable return. Have you seen his videos, they all are tethered to a crane, so i suspect his four hairdryers didn't pack the punch to deliver what he stated.

Also, twisting the arm of the FAA to grant autonomous flying cars using their own Victor airways, all through software, was a tall order.

The only flying cars we'll ever see are the UFO's that have been flying the skies since Roswell and beyond.



posted on Jun, 20 2009 @ 03:47 PM
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reply to post by Hastobemoretolife
 



I feel sorry for the guy. It's obviously been a bit of an obsession/passion of his and he's managed to sweet-talk a lot of investment in his ideas from (clearly gullible) people , but... all the video footage I ever saw of his prototypes were quite frankly absolutely rubbish. In my opinion this daft project deserved to die on the vine. It was obviously going absolutely nowhere.

The World will keep on spinning and the Sun will continue to rise and set without the Flying Car in our lives - it should have be left on the pages of 1950's boys comics where it belongs.



posted on Jun, 20 2009 @ 03:55 PM
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Mr Moller shot himself in the foot, when he sold his "Super Trapp" high performance exhuast comapny.
For more than 25 years the Super Trapp co. provided Moller Int. with the majority of the $200 million dollars in funding for the aircar development.



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