I am following up on my update from last week where we announced the cessation of the ODIN2 project. Some of you have already sent us your payment info but please fill out the payment information form below so we can streamline the process.
Some of you have enquired as to why I am stopping the ODIN2 project. Although, we are currently 6 months behind the delivery date of June 2017, we are actually 18 months behind my internal timeline of where we should be - I have been working on ODIN2 for about 24 months now. Even if the prototype was at a stage where we could start the tooling process - which it is not - it would be another 6 months until delivery. The reality is that I really don't think my current engineers will be able to deliver a quality product even if I gave them 6 more months. I think the chance of losing all the money for a subpar product is very likely if we stay on this track.
Please fill out the payment form link above. My next update will have information on use-of-funds summary. I have a lot of bookkeeping to do before I can create this analysis. I am guesstimating that you will see recovery rates of between 60 and 65%.