The prototype CarterCopter, a vertical takeoff and landing aircraft capable of high speed flight, is now mechanically and electrically complete, as shown in the attached photographs. Final instrumentation calibration is underway. Several temporary modifications to the airframe, including larger rudders and a longer nose gear, and being made to improve safety of the initial tests. Taxi tests are expected to begin in late August.

The aircraft was displayed at the 1998 EAA fly-in at Oshkosh, Wisconsin, as part of the NASA exhibit. Staff of CarterCopters answered numerous questions from the public during the 7 day event, and were interviewed by several news organizations and journalists. President Jay Carter Jr. presented three forums at the fly-in, and met with NASA administrator Dan Goldin.

The test pilots will be Don Farrington, holder of all seven FAA flight instructor ratings and one of the most experienced autogyro pilots, and 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. 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.