Share Price At $1.00 Until April 30, 2018

Updating information released March 12, 2018, XTI Aircraft Company (XTI) has announced that the current equity crowdfunding offering on StartEngine at $1.00 a share will close on April 30, 2018. The Company anticipates filing an Offering Statement for a new offering on StartEngine in the future for equity crowdfunding investments.

The company further stated today it has raised additional funds that will be applied to the remaining development costs for the 65% scale prototype of the TriFan 600 vertical takeoff airplane that it plans to fly later this year.

"Our prototype program is on budget and on schedule to fly the aircraft in 2018," said Robert LaBelle, Chief Executive Officer of XTI. "We will validate the aerodynamics of the TriFan and test transition to and from vertical flight."

"Over the past 12 months," LaBelle continued, "we've solidified our relationship with Honeywell Aerospace, received our main utility patent, exhibited at four trade shows, wrote orders for 60 airplanes that represent $390 million in gross revenues, and raised the funds needed to complete our Proof of Concept prototype."

The TriFan is a major breakthrough in aviation and air travel. The six-seat TriFan 600 will have the speed, range and comfort of a luxury business aircraft and the ability to take off and land vertically, like a helicopter. It will travel at 345 miles an hour, with a range of up to 1,200 miles. Using three ducted fans, the TriFan lifts off vertically. Its two wing fans then rotate forward for a seamless transition to cruise speed and its initial climb. It will reach 30,000 feet in just ten minutes and cruise to the destination as a highly efficient business aircraft.

Following XTI's exhibits at the Paris Air Show in June, the annual National Business Aviation Association's convention in Las Vegas in October, and its exhibit at the Ft. Lauderdale International Boat Show in November, XTI announced over 60 orders for the TriFan 600 under the company's pre-sales program. "The market continues to recognize the value proposition of our unique and revolutionary airplane and its patented technology," said LaBelle. "Vertical takeoff combined with long-range, the speed and comfort of a business aircraft, and our quieter and cleaner state-of-the-art hybrid-electric propulsion system."

XTI launched a formal stock offering in 2016 under SEC Regulation A+, which remains open to all unaccredited and accredited investors around the globe. Shares in XTI may be purchased at www.startengine.com/startup/xti providing a unique opportunity for the general public to invest in an aerospace company with a game-changing product, a world-class leadership team, and significant growth potential.

Simultaneously with the equity crowdfunding financing, accredited investors may participate in XTI's $25 million Series B round.

(Source: XTI Aircraft Company news release. Image from file)

FMI: www.xtiaircraft.com