I apologize for not having the submarine here. We didn't think we

could get it into the place remotely and having got here. Thankful we didn't even try to get it up those stairs.

I got a fair amount of damage control to get through before I can even tell you what we are even about and I have a hard time knowing where to start and I'll try and keep
calm. In about the 1950's, the U.S. was in a really wonderful place. Exploration involved there were involved. The future
of exploration was though to involve the oceans and space. Almost in parity. There were astronauts and there were
aquanauts. Today I don't have time to go into what happened but it's been a travesty. I think the best way
to describe it as the early days of exploration in the 50's. Think of exploration as the nest and there is two little chick in
there. One grows up to be a coo coo and just boots the other one out of the nest and I think the explination is that were all that
simple and is really not related to much else. Ok, is that clear. Is that clear what I think. Ok, I can move on. Listen, we live
on an ocean planet. We have so much spin that once to deflect you from that. We live on an ocean planet. 94% of life on earth
is aquatic. Most of this planet has not been explored. Forget what you know about the ocean surface. Think
of it as planetary territory underneath that. Two thirds of this planet hasn't been claimed. In 1956 the United Nations said, oh my
gosh, once technology opens that door, there is going to be a free for all of wild west. It's going to go to the countries with
technology. We need to put law in place. That's the law of the sea. The U.S. hasn't ratified yet simply because the U.S., I think it was Japan
and Great Britain and a few others figured that they would get there because of the technology and like the idea of the Wild West. The
other 25 companies, countries who figured they wouldn't get there liked the idea of let's divvy this up as gentlemen. I think

that the current administration is thinking of ratifying the law of the sea because we get some kind of access to, it
has to do with homeland security. Ok, so the

future of this planet

depends on our use of the oceans. This planet is unexplored. It's two thirds unexplored, unutilized and hopefully when we
get around to doing it, we'll do it a little bit more sensibly. But if anyone wants to tell you about mining on the moon, fine you can
invest in that if you want but I'm telling you, those moon rocks are 7. There are 7 times the number of moon rocks 2 miles away. I think
I'll invest in the stuff that's two miles away, 7 times and two hundred 40 thousand miles away. I mean and if we are going to go and terra form
Mars to make it habitable because we screwed up this place, I would think it be much easier to develop the technology to take care of this
beautiful ocean planet first rather than go terra form Mars. And when I hear that, it sounds like somebody telling my little boy,
mess up your room, trash, torch it because your dad will just buy you a new house. Don't worry about it. Ok, I think you get the picture there.

What we're doing about this. The reasons that the vision of the UN in 1956 never materializes is because there never was cost effective
access. The Triast went down in 1960 all the way to the bottom as a bathysphere. The U.S. lost the lead. the lead was taken in deep vehicles by
Russia.

That lead then changed hands to Japan and if you read the latest announcements about who's been building subs in secret
research subs is China, China

and there is a really good article that came out in New Scientist about three weeks ago but they do say that China, China's there but there is a
wild-card, a little private enterprise and you're looking at one fifth of it right now. And I'm not making any comment on who's getting there first
but we feel pretty good about that. We've

taken about fifteen years to move out from any commercial operations trying to front things privately and we've used the
media a lot. I mean media funding, television, film. To try and move out and it appears that if I showed you the pictures you'll see
pretty pictures of a wind subs flying underwater with a manta ray. But that, I'm just coming out because this audience is rather small
and I'm telling you the truth. That's not what we're about. What we are about is like every person is world domination.

We're getting access to two thirds of the planet and everyone else is looking the other way. There rockets are pointing the wrong direction. Hey, it's fine by us.
So what are we doing? Well we got two prototypes. We are going to launch the third generation in about a years time
and you should look out for it of wing subs. So we have moved into underwater flight. Why? Because the conventional
submersible in this vast, three dimensional space isn't going to cut it. Remember, before we had wing flights, set planes were actually
crossing the Atlantic carrying passengers. Hot air ballooning, ballooning and the derivative of that didn't cut it. We had to go to fix wing aircraft. We need
to do the same. Sub sea. We've done it. We look on our web site, deepflight.com, you'll see two generations and look out for the third. The other technology
that we've quietly gone away and developed is radio frequencies don't work sub sea. There fore robotics is a big, big problem. You can't communicate
with it with a high enough data rate. We think we've solved that problem. It's a pretty fundamental problem.

The third thing is we just built up all the tools that we need to build these vehicles in terms of materials, navigation,
electronics, flight control and all the rest of it.

I've used up my five minutes. We normally just about underwater exploration we've run the first flight schools. There is actually
two people. there are two people in this room this morning

who have actually flown underwater in the one two seat trainer that we've had. And we ar going to open that flight school
in about a year's time built with some dynamite craft and if you think that's what we're all about, you're really missing the point, just
wait and see.