REFLECTOR: Velocity Aerospace - rumor control

[Scott Baker]

Watching what is akin to a firestorm of questions, comments, criticisms
and 'wonderisms' on the Reflector - I think its best to share some
background on Velocity Aerospace and its connection with Velocity, Inc.
1. Other than the Velocity On-Line newsletter being very late - nothing
has changed at Velocity.  We are hard at work shipping new kits;
customers are coming to the Velocity Service Center for builder support;
builders are attending the Velocity Flight Transition Training Program;
we are getting geared up for Sun 'n Fun (which is taking a lot of
effort!); parts are being shipped; Velocity is working with unique
sections of the flying world with Proxy Aviation Systems on UAV airframe
development, and the Rocket Racing League in providing the first
generation of Rocket Racing airframes; Velocity is slooooly working
through its priority of things to finish in order to free Scott Swing to
begin work on the Twin Velocity project; and the sky is not falling.  We
are looking forward to Velocity Builder Expo in May in Dallas - the
factory is a big supporter of the program (both financially, and in
providing factory speakers).  In other words, Velocity, Inc. continues
to dedicate itself to providing builders with kits, parts, Head Start
training, flight training, and technical support.
2. Duane Swing has opening talked about his desire to retire and to sell
his assets in the business.  Years ago he published a short report in
the Velocity Views - going so far as to solicit Velocity builders as
possible investors.  The company has been working with an individual
(not a Velocity builder), who has expressed an interest in certifying
the aircraft in Asia - and selling completed aircraft to buyers in large
numbers.  Velocity Aerospace LLC is an outgrowth of this plan.  Velocity
Aerospace LLC is selling stock to raise money to augment private money
that apparently is promised for this new venture.
3. Velocity, Inc. and Velocity Aerospace, LLC have signed letters of
intent - however there currently exists no contract between the
companies, and there have been no exchange of monies.  In other words,
there is an idea on the table - which is still an idea.  Nothing has
happened in regards to selling the company - which is why there have
been no news releases on our end.  Velocity Aerospace, LLC is sending
press releases speaking of an 'imminent' purchase of Velocity, Inc.
because they wish to attract investors.
4. Velocity Aerospace, LLC is only interested in developing a certified
version of the Velocity.  Should they purchase the company - which
remains an uncertainty - kit production and support would go on as
normal, with Scott Swing and Scott Baker and other key people still in
place.  Duane on the other hand, plans to enjoy retirement.
5. The Views have not been publishted because getting Velocity staff to
write articles is like herding cats.  Don't read anything into its being
late.

Everybody back to building!
SB