Well...again a problem with the exact time
That one was presented (photos posted in internet) by the owner...
...in April 2004
I got a copy for you and added his name; Peter (just Peter is enough for this case).
We had some talks at the time, we shared some ideas about making and releasing reasonable priced, decent RC Hovercraft for the general public, we both had another thing in common; both of us had a past very closed and connected to real scale racing Hovercraft.
At the time (2004 ) Peter had only one, just the prototype! On Sat Apr 10, 2004 12:25 pm, he revealed that, he was about to go for production...but it never happened, I suppose. He wanted to sell this and some more models, also a multi.blade prop and pulleys and belts and...some people complained (I am not going any further, I respect Peter, we had some similar ideas an good discussions).
He claimed 47 mph for this craft but, not only me but others, asked him for some proofs, he said he had a video but, never shared...
At that time (also in 2004)
I also made and posted photos and a small video of my last creation (in 2004) it was the "Big 13"" celebrating my 13 years developing RC Racing Hovercraft, that one...
...with a ducted fan and nitro powered by a .40 glow.
Some years after (in 2009) I also shared the same video in Youtube.
"Res non Verba!"