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Company is working with Red Cross and with the military. Orders should exceed 200 planes over the next 6 months. Metalcraft is building the main structure and with the Freightfeeder deal all is set to announce the future.
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CEDAR CITY, Utah -- Metalcraft Technologies, Inc. (MTI) announced today continued progress toward manufacture and assembly of the Utilicraft Aerospace Industries, Inc. (OTCBB:UITA) FF-1080 prototype aircraft. The company announced that the assembly tooling is progressing well with a significant portion of the tooling required to assemble the center section of the fuselage nearing completion.
"We are at the final machining stage of the large sub-assembly tooling," (See CAD image) said Chuck Taylor, Vice President of MTI.
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ALBUQUERQUE, N.M. - Officials of Freight Feeder Aircraft Corporation (a U.S. privately held corporation) reported today that the Company currently has signed Letters of Intent (LOIs) under its “Early Reservation Program” that it launched earlier this year, for 45 of its FF5000 aircraft totaling $742,500,000, with additional aircraft sales in discussions. This represents 14% of its eight year business plan projected production.
The Company is currently in discussions with international operators, in the India market, to add an additional 25 aircraft totaling $1.155 Billion in initial orders for the Company.
John J. Dupont, President and CEO of Freight Feeder stated, “This initial sales milestone has been achieved without a major global marketing campaign, and without a flying demonstrator prototype aircraft. The Company is intentionally waiting for its global marketing push until 'First Flight' of the prototype FF5000 aircraft takes place. Subject to the flow of capital into the program, 'First Flight' is expected to occur late next year (2009).”
The signed LOIs will become firm contracts upon achieving the milestone of “First Flight” of the FF5000 prototype aircraft.
About Freight Feeder Aircraft Corporation
Freight Feeder Aircraft Corporation is a U.S. private corporation registered in the State of Wyoming. In December 2007, Freight Feeder Aircraft Corporation acquired the Freight Feeder aircraft technology and development program form Utilicraft Aerospace Industries, Inc., (OTCBB:UITA) which included the aircraft design, related intellectual property, patents, and developed hardware and software including a mockup aircraft, and fuselage tooling - with the intention of completing the development of the aircraft project, and to bring the Freight Feeder aircraft into commercial production for global sales into the freight aircraft market. Inclusive in the acquisition are the Aircraft Design Patent, the ETA Freight Tracking Method Patent, and the AFRS Automatic Flat-Rate Power Management Patent.
The Freight Feeder aircraft - now designated the FF5000 by the Company - is specifically designed to address a niche segment of the global air freight market, specifically the need for a new and updated state-of-the-art effective containerized freight feed air transportation system requiring the development and implementation of a new regional-sized-container-capable turboprop-aircraft, specifically designed to economically transport containerized/palletized air shipments to and from regional manufacturing and freight distribution facilities (located in smaller communities) to and from the major international hub airports - world-wide.
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Rumor saying that a huge financing deal is in progress. I will post the news ASAP. In the meantime it might be a time to load considering the pps.
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i ask what deals?they sold there technology to ffac.that would be the stock to own here.but its a privatly held company so no chance.seems to be overpriced if you ask me..02c?for a company with no cash on hand,accumalated defecit,and not much to report in future?hmmmm doesnt sound promising?tell me what im missing?
-------------------- WHADDYA MEAN I CAN BE PRESIDENT OF THE USA.ITS STILL WE THE PEOPLE.RIGHT?
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You aren't missing much just that FF will soon take over operations and complete some deals that have been on the burner for years.
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I have found in the past that when the last sale of these pinks is at the bid and not the ask that the pps moves higher the following days. Will see.
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This daily nibbling is a hint of good news down the road. Money is still the main issue as the plane designs are all refined and ready for production. The orders are huge and once FedEx & UPS see the savings of these cargo planes, the conversions will take place.
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Sell-off yesterday - smart money buying today. A lot of year end CG selling on losers mainly because brokers are scary the unknowing and gullible.
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Today's trading has been typical of the past few months. Without any news from the company I suspect that there is positive things coming down next year.
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Rumor saying that a huge financing deal is in progress. I will post the news ASAP. In the meantime it might be a time to load considering the pps.
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Partial fill.
