Fundraising Status

Hello Everyone,

So I posted here yesterday about some of our plans, but I had to remove this post and related information in order to stay compliant with SEC regulations.   There will be more information available in the coming weeks.  I apologize for the confusion, but please forgive me as I am also learning as we move forward.

We have raised approx $250,000 in short-term loans to fund our operations, and there was a question about how we service these loans.  It is expected that we will pay back these loans in less than one year (loan terms is for only 1 year) from additional fundraising.  The success of our fundraising activities is obviously essential to this, but the lenders were protected by securing these loans with industrial equipment Freedom Motors owns for manufacturing rotary engines.

One of the investment groups we met with that was interested in the Moller aircraft technology is going to be coming back to visit with us next week.  This is one of the two groups we met with a couple months back, so we are really looking forward to meeting with them again.

Sorry for the initial confusion of my previous blog post, but I have to be really careful over the next few weeks as we execute our fundraising plans.

Best Regards – Dave

Author: David Sastry

David has two decades of experience as a senior engineer at Intel Corporation, Freescale and Marvell Semiconductors. Before joining Freedom Motors he was a Principle Consultant for Infosys in their IoT Practice. David holds BS and MS degrees from Ohio State University in electrical engineering, with an emphasis on computer architecture and digital design. David is responsible for Freedom Motors' IT systems, social media outreach, managing corporate operations and contributing to business development.