Adam will open their doors in early May with a staff of 50 full-time employees, expanding to 160 employees within 90 days. Their current mission is to get everything together for the certification of the Adam A700, which is projected for 2009. In addition, they plan on being present at EBACE.
One of the most interesting things about the resurrection of Adam is that they are financed and backed by an air taxi company. They’re purchase price of only $10 million and the deep pockets behind them will make financing, in theory, a non-issue for them moving forward. We believe that they will have an even stronger focus on the air taxi focused aircraft given the background of their financing.