Surprise! Dubious Flying Car Company Loses All Kinds of Money
The Sacramento Business Journal is reporting that the flying car company Moller has posted a loss of $1.2 million for its last three quarters.
If you've followed flying car news at all in the past three decades, you're probably familiar with Paul Moller and his line of totally-not-vaporware vehicles. Somehow, Moller gets a major news outlet to write about his Skycar every six months or so, which sets off a torrent of "this sci-fi dream is almost a reality!" articles explaining that it's for real this time.
Moller has supposedly spent over $100 million on flying car research and development over the years, though their space age wonder-vehicles have never moved into production.
“Although there is no assurance that this vehicle will meet with success in the market place, the company is actively seeking support for the program and, if found, may choose to move into the production of these vehicles,” the company said in its filing with the SEC this week.
Why anybody gives this guy money, I'll never understand. Back in 2003, Moller International was sued by the SEC for issuing fraudulent stock. The company settled for $50,000.
For those of us who've always dreamt of zipping around like George Jetson on highways in the sky, it doesn't look like Moller's going to be making that happen any time soon.
This article originally appeared at Gizmodo.