In July 2004, SkyWay Communications distributed a news release touting $7 million in new capital from an investment fund with DuPont in its name. The publicly traded company based in Clearwater, Fla., said that it was developing a high-tech “ground-to-air in-flight aircraft communication network” with security and entertainment applications.
SkyWay wanted investment capital to develop aircraft infrastructure necessary to support a purported contract with now-defunct Southeast Airlines based in Largo, Fla., and it claimed to have an actual worth of more than $500 million, “well in excess of what the market currently values SkyWay today.”
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