Just Rockets,Inc/North Coast Rocketry

[just rockets]

Hi all, Well I have received well over 500 emails and countless PM’s that I just can’t take the time to answer so I’ll try and clear up everyone’s questions here. First off, there has not been or will not be any P$##ing matches between me and Matt Steele. We have worked very hard on putting NCR back on the map and to say that this transaction is dead in the water is an over statement. With any type of business purchase is has to be amicable to all parties involved. The money part (cost of buying NCR) is not and has never been an issue as we got that part out of the way right up front. There are legal issues that have pushed Just Rockets into a corner. Because of so many unique circumstances, and things lurking in the shadows. There are certain items that should we close the deal the way it is right now, would certainly put all the assets of Just Rockets,inc and BSD High Power Rocketry at risk. I’m sorry, but we are just not willing to risk everything we have achieved over the past six years into a bad business decision. At this time I’m not willing to go into any further details of the transaction as that would not be fair to Matt or me. Matt and I are good friends and see each other at launch’s in Arizona on a regular basis. As Matt and my self have discussed, should in the near future the issues be resolved then Just Rockets,Inc has every intention of following through with the purchase of North Coast Rocketry from Matt Steele. I have no bad feelings for Matt and have nothing derogatory to say about Matt. And as far as I’m concerned, Matt is a stand up guy and is NOT trying to pull a fast one as some have suggested. I think that people get bad raps for things done in the past and if your dealing with that person then you should form your own option of that person or don’t get involved. My whole decision to back off of the sale at this point until some issues are resolved are due to listening to my attorneys. After all that’s what I pay them for. So for all that was interested in the come back of NCR, Please don’t fret. It’s not over till the fat lady sings and like I said Matt and I are working on resolving these issues. It might take some time, but if were patient I still think that there is a very strong possibility that the transaction will take place. We will post any updates as they become available. Thank you for everyone’s interest. Scott

 

[shockwaveriderz]

so who wanted who's 1st born son as collateral?


terry dean
nar 16158

 

[AKPilot]

It roughly sounds like, and is pure speculation, what happened to General Aviation back in the '80s, Cessna, Piper, etc. were being held liable for their products since inception. If anyone bought a Cessna manufacturered 50 years prior, they were open to a lawsuit. It was almost the demise of GA.

Fortunately, there was a law passed that allowed manufacturers to only be liable for products up to their 18th year. Since then GA has bounced back.

 

[Ltvscout]

Thanks for the update, Scott. I'm glad to hear that you and Matt are still working on trying to get the little details ironed out. There are many of us that would like to see these kits made available again. Good luck!