The following is not intended to be an offering of securities, but
rather a summary of historical investment activity.
From the start, Ohio Airships has
used a consistent methodology for financing Dynalifter
First the company develops an exciting long-term goal
or vision. Second, the company breaks down the large goal
into smaller development milestones.
Third, professional advisors estimate the
cost of producing the next milestone. And fourth,
private investors fund the milestone.
It is worth noting that the earlier
the milestone, the greater the risk was to each investor.
Imagine what it must have been like for the first investors, who
'rolled the dice' on a vision alone. With the successful
completion of each milestone however, the total project risk became exponentially smaller.
Ohio Airships owes much of its
success to the "Founders Group", a group of 47 visionaries who
invested a great deal of money and effort in bringing Dynalifter
"Roadless Trucking" to the world. Over 50% of the Founders
Group members are either business owners, lawyers, doctors,
professors, CPA's, engineers, or stockbrokers.
The following is a breakdown of the
company's previous goals and milestones:
Dynalifter Research & Development Package"
By completing this goal, the
company believed it would have all the necessary pieces in place
to attract large investments, global customers, and major
|Milestone #1: "Protect
Shortly after the idea was
conceived, advisors recommended protecting the concept with a
patent. Internal research uncovered many previous patents
for "hybrid" airplane/airships,
and one in particular which most closely resembled the Dynalifter
which was now "public domain".
Patent attorneys suggested that the
Dynalifter, because of its unique internal configuration, was
patentable, and they quoted the process. Ohio Airships then
handed this quote to several interested investors and successfully
raised the money.
After two years and three
revisions, Ohio Airships received the Dynalifter patent.
While the patent was still pending,
Ohio Airships was advised to obtain a professional endorsement of
the concept. The company believed however that it was
critical to receive endorsement from a top, industry-recognized
aeronautical engineering group, no matter what the cost would be.
After receiving quotes for
feasibility studies from three reputable "conceptual design"
firms, Ohio Airships selected Dr. Daniel Raymer's Conceptual
Research Corporation. Raymer was formerly Lockheed Martin's
Director of Advanced Design, was Rockwell's "Engineer of the
Year", and was one of the few engineers who had the courage to bet
his reputation on a radically-new concept.
Raymer's quote, while extremely
reasonable, was far beyond the capabilities of the existing
investor pool and current founders. Sure enough, a brave
investor emerged and paid for the Dynalifter general feasibility
Before beginning work, Raymer
warned Ohio Airships that his findings would be unbiased and
potentially unfavorable to the project. However, if the
findings were favorable, that his neutrality would lend far more
credibility to the project.
Dr. Raymer's study lasted six
months and answered many of the general questions regarding the
feasibility of Dynalifters. His "Phase-1" study covered:
- Performance requirements
- Airframe layout
- Helium vs. wing lift
- Engine selection
- Initial structural
- Preliminary cost estimation
- "Go" or "no go"
of the project
Of course, Raymer found that the
Dynalifter concept was feasible, both technically and
economically. In a single moment, investors' risk was cut in
and Prototype Design"
After a successful general
feasibility study, Dr. Raymer immediately quoted Ohio Airships on
a follow-on, detailed feasibility study. This study proposed
- Confirm or challenge previous
findings using completely different approaches
- Enlist two reputable aerospace
contractors to provide greater detail
on the "aerodynamic" and "structural" segments
- Provide preliminary materials and components
- Produce a detailed production
- Provide operational cost
- Study the FAA certification
- Conceptually design a small,
- Recommend a
"Go" or "no
go" for the project
Once again, Ohio Airships was faced
with having to raise a relatively significant
amount of capital to achieve the milestone. A bold father
and son duo emerged to pay the bill.
Raymer's second study lasted six
months and concluded once more that the Dynalifter concept was
technically and economically feasible. And again, the
investors' risk was cut in half.
Confident that his professional
predictions were both accurate and would be of interest to
future customers, Dr. Raymer agreed to present his findings in
an exclusive press conference at Washington DC's "Pentagon
City". Present were national reporters and US Military
"Certified, Manned Prototype"
The primary goal of the "manned
prototype" project was to gain international
attention for the Dynalifter project. The
secondary goal was to "prove the concept". Ohio Airships
considered this secondary for the simple reasons that 95% of the
engineering was focused on the feasibility of large Dynalifter
Freighters, and that a relatively tiny Dynalifter wouldn't provide
much scaleable data (performance proof-of-concept).
Nevertheless, the company enlisted
Don VanFossen, a former NASA, McDermott, and B&W aeronautical
engineer, to produce a detailed design for the small, Dynalifter
prototype. New Ohio Airships Founders stepped forward to
provide production capital and airport facilities.
After three years of production on
a shoestring budget, the prototype received its FAA Experimental
Airworthiness Certificate, and was ready to begin flight testing.
Shortly after receiving certification, Ohio Airships achieved its
primary goal of "gaining international attention" by making the
Associate Press and United Press International newswires, and
appearing in the New York Times, National Geographic, Wired
Magazine, and on the cover of Popular Mechanics Magazine.