The prototype CarterCopter, a vertical takeoff and landing aircraft capable of high speed flight, is now mechanically complete, as shown in the attached photographs. Test flying is expected to begin in July, after completion of the electrical wiring and instrumentation. The aircraft will then be displayed at the 1998 EAA fly-in at Oshkosh, Wisconsin. Since the required testing will not have been completed prior to the airshow, the CarterCopter will be trailered to Oshkosh. President Jay Carter Jr. will be presenting three forums at the fly-in.

The test pilots will be Jay Shapley, a fixed and rotary wing test pilot with over 5000 hours of test flying experience at Edwards Air Force Base and Boeing Vertol, and Don Farrington, holder of all seven FAA flight instructor ratings and one of the most experienced autogyro pilots. Instrumentation for the test flights will include 80 channels of flight data and live video downlinked to the ground. The test flights will be closed to the public.

CarterCopters L.L.C. is funded by private investors and by a Small Business Innovative Research grant from NASA. The company's business plan is to develop the technology for practical high speed rotary wing flight, prove the technology by breaking records, and then license the technology to kit and certified aircraft manufacturers.