REFLECTOR: Velocity Sale

[Scott Derrick]

I don't think they own anything as yet.  A sale pending for Velocity 
Inc.,  a sale in negotiation with Approach Systems and an interest in 
Rotorway .    Rotorway being an employee owned company, its tough to own 
it in any sense of the word.  Unless Velocity Aerospace is also owned by 
the same Rotorway employees.

They are a paper company by everything I can find out about them.   
Their website is all about what they "want" to do and nothing about what 
they have done or are doing. They are publicly traded OTC, with an 
initial price of $1.00, Jan of this year, and a current price of $.025 
with a low of $0.10.

Scott

Chuck Harbert wrote:
> Looks like it's a done deal. They also own Rotoway Helicopter (which 
> is employee owned-ESOP).
>
>> From their website http://www.velocityaerospace.com/
>
> LAS VEGAS , NV , Feb. 8, 2006 -- Velocity Aerospace, Inc. (VLYA.PK) is 
> very excited about current developments with Velocity Aircraft, Inc. 
> The acquisition of Velocity Inc. by Velocity Aerospace is imminent, 
> with both parties diligently working to complete the transactions in 
> February. Velocity Inc. has been selling the futuristic and 
> world-renown Velocity airplane for over twenty years. The Velocity XL 
> has many years of proven aircraft performance, reliability and safety. 
> The company has sold over 600 aircraft kits, making it one of the 
> largest manufacturers in the aviation industry.
>
> Andrew Edlefsen, CEO of Velocity Aerospace, Inc., commented, "With 
> demand for high-performance, single-engine aircraft increasing 
> worldwide, we believe this to be an excellent time to join with 
> Velocity to make the exciting Velocity airplanes better known 
> throughout the world. Velocity's sterling reputation and extensive 
> experience make this an important acquisition for our company."
>
> About Velocity, Inc.:
>
> Velocity, Inc. was formed in 1984. The company developed the 
> innovative Velocity aircraft, a kit airplane that uses the canard 
> design for improved performance, reduced risk of stalling, and other 
> advantages over traditional single-engine aircraft. The company has 
> developed a model with retractable gear and a five-seat model.
>
> Velocity Aerospace, Inc. (VLYA)
>
> Velocity Aerospace is in the business of identifying, developing, and 
> marketing global business and business opportunities with emphasis on 
> aviation projects utilizing their proprietary management techniques.
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