So send us the contract not your conversation , dude.

I just did

I just did

If you have been following the video log on the Raptor you will know that we have been making substantial progress on the prototype with the fuselage coming together and we're getting close to laying up all the parts of the doors. We also flew the scale model again and we're happy that the dutch roll problem has now been resolved by the addition of the wing fences and vortilons. Subsequently we have begun work on the plugs for the wings.

We now have 683 deposits in escrow. This represents over 400 new deposits in the last 12 months and we are still closing about 7 new ones per week.

Progress is happening on the engine and we hope to see it running on a stand in the coming months. The engine stand is complete and round tube for the mount has been laser cut and the jig to help assemble it is done. The belt drive reduction unit engineering design is complete and we have begun sourcing parts and machining those that are custom.

The main landing gear legs have arrived and the nose gear is being modified to fit the Raptor. We will soon be ordering the wheels and brakes from Beringer.

Our current goal is to complete the doors and frames in the next few weeks which will allow us to bond together the fuselage. We are also working hard on completing the molds for the wings and will soon move on to the foreplane plugs and molds.

In order to continue this program at the current pace we are working through the current depositors list and offering a limited number the chance to further fund the production of the Raptor prototype.

This invitation is going out to those deposit holders between position xxx and xxx. At present there are only two positions available for this offer.

The opportunity includes the 3 following items:

1) a contract guaranteeing the delivery price of $120,000 for your finished Raptor rather than just an estimated price. This is $10000 below the current estimated price for regular deposit holders of $130,000 (which is more than likely to go up).

2) 0.25% (1/4 of 1%) membership in Raptor Aircraft LLC which entitles you to share in the potential profits further down the line. You will receive a Schedule K1 each each with your share of the profit or loss. You are not responsible for any losses but you can write them off on your taxes.

3) the opportunity to move further up the line if you wish to have your aircraft sooner. Position #97 is presently available to the first person to respond

In order to take advantage of this opportunity we require that you sign a sales agreement that I can forward to you. We then require that you complete your $2000 escrow transaction so those funds transfer to us and are no longer refundable. Lastly you will need to wire or send us a check for $18,000 which takes your total deposit up to $20,000 which, at that point, is non refundable and will be used to further the construction of the Raptor prototype.

Escrow.com should be holding the buyers' money (in escrow) until the milestone is marked complete by Peter at which time the buyer has 3 days to accept or reject the milestone completion status. If rejected, the escrowed amount is refunded to the buyer.

That email feels very scammy, you’re going to pitch me that a benefit to owning your company is capturing your losses? Lol

When the prototype flies, your escrow goes to the seller.

I see this more like a Kick Starter campaign. Maybe thats what they should have done.

There is more to the milestone than just flying. They have to present the performance data as well. Once the buyer has the info he has the right to have escrow refunded.
I agree this language should be in the escrow agreement or at least referenced. Nonetheless it is probably legally binding and I see no loopholes for an arbitrator, if in fact one had to go to arbitration.
One of the house lawyers could speak up if they believe I am wrong.
I believe it is clear to both the buyers and sellers that the thing cannot possibly meet all their numbers. So when they publish performance from the prototype you can decide upon your own standards.
For me, I would be happy to,pay $175,000 for a machine that would give me 200 + kts @ 18,000 on 15 gals per hour , 1000 miles range with 800 lb payload and a10,000' cabin at fl250. That would beat hell out of anything else out there certified or not.
I would expect reasonable stall speeds and would hope it could use a 3000' runway.