Eller Industries arranged a public unveiling of the cruiser prototype for November 1998, but was prevented from showing the prototype by a restraining order from the receiver, who said that Eller had failed to meet the terms of its obligations. The contract was withdrawn after the company missed its deadline to close the deal and could not agree with the receiver to an extension on the deadline. Other conditions, including payment of administrative costs and presenting a working prototype, were also not met by Eller Industries. Based on this, a Federal bankruptcy court in Denver, Colorado, allowed the sale of the trademark to IMCOA Licensing America Inc. in December 1998.