POMPANO BEACH, FL, August 1, 2017, Cyclone Power Technologies (OTCPK: CYPW) Auditor, Soles, Hynes & Company have completed the fiscal year end 2016 audit, as well as, review of the first three quarters of 2016. The first quarter of fiscal 2017 is to be filed in the next few days. We fully anticipate filing the second quarter of 2017 on time. These filings will make the Company up to date and compliant with the reporting requirements of the governing bodies. “Again we are aware of the huge undertaking to bring the company current and now realize that it was a much bigger undertaking than we ever imagined, however we are finally done and the audited statements are released.” states Frankie Fruge, Company President.
“Cyclone has also settled in full with the previous auditors Anton Chia which was incurred by the delays and additional work necessary to bring us current on the past years of financial reporting. This was an important step for us, as we couldn’t release the 2016 statements without the confirmation from the past auditors”, explains Frankie Fruge. We have also come to favorable terms with companies holding judgements against Cyclone to eliminate outstanding issues which would have impeded us from moving forward with our business model.
Cyclone and Jim Hasson from OP Shuman have meet with TAW in Tampa this past week to go over the control systems and finalization for the integration of the Mark 1 and 3 Cyclone Engines into constant duty ALL fuel generator sets. There will be four sizes ranging from 3Kw to 18Kw, both AC and DC models available also in 50 and 60 cycle. TAW will also be the supplier of several parts in addition to the final integration. TAW has all of the certification and regulatory commissions needed to finalize for worldwide generator application. Distributorships are being set up worldwide with organizations that have the knowledge and systems in place to install the generators and to integrate into Combined Power and Heat.
The engineering staff visited two industrial sites in Tennessee for the first of the Thermal Storage Unit based Solar 24 Hour power plants using Cyclone Engines and a Solar Thermal Storage Battery. A Thermal Storage Battery (TSU) is a Green Technology using molten salt (fertilizer if you ever have to dispose) to hold the heat from the sun. Cyclone Engines then uses this heat to power the generator and power is produced 24 hours a day from sun light. As we progress into the manufacturing of the 3Kw to 18Kw, the Mark 7 (160 Kw) for industrial solar power with the Cyclone’s Thermal Storage Unit will be the next project. The Solar project in the 1Mw range will be our next main focus to be manufactured. The interest in this storage of free solar heat to run an engine after the sun goes down is there. Industrial sites, office buildings, and malls can reduce their power consumption and in turn lower their utility bills. Utility companies can regulate their peaks on a 24 hour basis and reduce their brown outs. The thermal battery with the Cyclone Engine and the solar troughs gives the consumer an alternative to battery storage Photovoltaic. The Photovoltaic Battery storage cost over 4 times as much as a Cyclone Thermal Battery storage and the Cyclone Thermal Battery is fertilizer upon decommissioning unlike the replacement and recycling of PV batteries. Cyclone is pursing LOI’s for this application.
Frankie Fruge, President, states: “We believe in the progress of our business model and the viability of our technology. Cyclone is now aligned with established partners as integrators, manufacturers, vendors, and licensees. The process of completion of manufacturing and integration is close. Our shareholders and supporters must not overlook the strengths of Cyclone, as they truly separate us from the vast majority of “micro-cap” companies out there. We are energized by these projects and partners, and will continue to work diligently providing results for our shareholders.”
Safe Harbor Statement
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The company cautions that these forward-looking statements are further qualified by other factors. The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.
About Cyclone Power Technologies
Cyclone Power Technologies is the developer of the award-winning Cyclone Engine – an all-fuel, clean-tech engine with the power and versatility to run everything from waste energy electric generators and solar thermal systems to cars, trucks and locomotives. Invented by company founder and Chairman Harry Schoell, the patented Cyclone Engine is a eco-friendly external combustion engine, ingeniously designed to achieve high thermal efficiencies through a compact heat-regenerative process, and to run on virtually any fuel – including bio-diesels, syngas or solar – while emitting fewer greenhouse gases and irritating pollutants into the air. The Cyclone Engine was recognized by Popular Science Magazine as the Invention of the Year for 2008, was included in a 2011 report by Popular Mechanics as an important waste energy technology for the future, and was twice presented with the Society of Automotive Engineers’ AEI Tech Award. Additionally, Cyclone was named Environmental Business of the Year by the Broward County Environmental Protection Department. For more information, visit www.cyclonepower.com.
About TAW – Tampa Armature Works
For more than 95 years and three generations, family-run Tampa Armature Works, Inc., an industrial equipment distribution and service company headquartered in Riverview, Fla, has demonstrated its commitment to quality and reliability. We seek out and apply the latest technologies and best practices in order to provide our customers with products and services that are more dependable than that of our competitors.
Our worldwide customer base is as diverse as the products and services we provide to them. TAW® serves customers in a wide range of industries including fossil, renewable and nuclear power generation, military, homeland security, mining, chemical processing, and steel and water utilities, and more.
Although our customers’ needs are diverse, they all share one commonality – the need for long-term engineering-driven power solutions from a company that will support them every step of the way. Our employees, made up of credentialed engineers, technicians and mechanics, all work collectively to find answers to complex questions and solutions to some of our customers’ greatest challenges. www.tawinc.com
About O P Schuman
Otto P. Schuman came to America from Germany in 1909 to build a new life and earn a living with his expertise and hard work. Little did he realize where his ambition would lead.
In 1919, he founded the “Rapid Calculator Company,” specializing in the manufacture and repair of mechanical calculators. Today, O.P. Schuman & Sons, Inc. is a major source of contract custom machining and assembly with over 120,000 square feet of floor space and a long-standing reputation for excellence and versatility.
O.P. Schuman grew his company by continually applying his skill and dedication to new challenges. Although Otto passed on in 1969, his sons, grandsons, and great-grandson have carried on that tradition through the 4th generation of the family. At O.P. Schuman & Sons, Inc. we devote our services to the custom manufacturing of a tremendous variety of parts, assemblies, and machines… and we’re prepared to meet the most unique customer requirements with quality and efficiency. www.opschuman.com