Preceptor Aircraft was originally called Nostalgair and based in San Antonio, Texas. N3 Pup construction was farmed out to a Colorado interest. Nostalgair and its sister company Global tool (maker of Gloabal engines) went out of business in 1986. Warren Mosler purchased the assets and placed Bob Counts, designer of the N3 Pup as president. Production moved to Winston-Salem, North Carolina. By 1993, the company expanded to two buildings and produced as many as 40 kits per year.