Moller International (MI) was delisted as anticipated in my last Newsletter. As President of MI, I apologize for being unable to raise the necessary capital to maintain MI as a public company. Raising capital for the development of a rotary engine proved to be easier than for a flying car (personal air vehicle or PAV). Consequently, the value of MI shares has continued to decline, while the value of Freedom Motors (FM) shares has remained stable. The number of MI shareholders who stated that they wanted to exchange their shares for FM shares was much larger than expected. This is very important for those who do exchange shares because as FM becomes a major shareholder in MI, exchangers will indirectly remain MI stockholders.