AirScooter Corporation (OTC Pink: ASCO), based in Henderson, Nevada, United States, has designed and claims it intends to manufacture and sell an ultralight helicopter of coaxial rotor configuration. The company was founded in early 2000 by Elwood "Woody" Norris, who serves as Chairman of the Board, and James "Jim" Barnes, who serves as Secretary of the Board.
AirScooter does not report to the U.S. Securities and Exchange Commission (SEC) but does file some limited company and financial information with Pink Sheets LLC which can be found at AirScooter SEC and Pink Sheet Filings.
As of January 31, 2007, the company reported an accumulated stockholders' deficit of approximately $11.8 million. Stock value has declined recently to only $0.07 after trading over $1.00 early in 2007.
The company's proposed product, perpetually under development, is the single-seat AirScooter II, which is intended to be classified as an ultralight aircraft. It is expected to weigh 254 lbs and be powered by a single 65-hp four-stroke engine capable of carrying a load of up to 350 lbs. Although its operating ceiling is around 10,000 ft (2 700 m), the AirScooter II is incapable of autorotation emergency descent, and is intended for recreational flying at low altitude, i.e., at or below 50 ft (15 m) above ground level (AGL).
Production of the AirScooter II was originally expected to begin in 2005. Production was pushed back to 2006 and then later targeted for 2007. As of September, 2013, production has not yet been announced and the company's website has been taken down. There have been no major press releases or other production information published since 2007.
GEN Corporation of Japan sells a personal helicopter named the GEN H-4. It is sold as an assembly kit and is available in Japan for 7,500,000 Yen ($100,000). There is no licensed distributor in the US.
- Dwaine R. Barnes, President (3.5% ownership)
- Elwood "Woody" Norris, Co-Founder and Chairman (34.4% ownership)
- James "Jim" Barnes, Co-Founder and Secretary (14.0% ownership)
- David A. Polis, Treasurer (1.7% ownership)
- Canusa Trading, LTD, Bermuda (13.1% ownership)
- Jerry E. Polis (11.0% ownership)
- Dwaine R. Barnes and James "Jim" Barnes are brothers.
- David A. Polis is the son of Jerry E. Polis
AirScooter is located at 980 American Pacific Drive, #111, Henderson, Nevada 89014. This is also the address of ASI Technology Corporation founded by Jerry E. Polis, an associate of Woody Norris and Jim Barnes in other public and private ventures, according to public records.
- Airscooter Annual Report, 12/31/2007
- Hutchinson, Alex (2006), "Flying Solo", Popular Mechanics 183 (12): 28, ISSN 0032-4558 Unknown parameter
- Get ready for the AirScooter - ZDNet News: Apr 15, 2005
- A slow liftoff for the personal helicopter - ZDNet News: Nov 30, 2006
- GEN Corporation official website
- AirScooter Corporation Web site
- "Patents owned by AirScooter". US Patent & Trademark Office. Retrieved 5 December 2005.
- CBS News, 17 April 2005: Flying Cars Ready To Take Off