The hull was flat bottomed with a stainless steel blade on the bow designed to "cut through the waves". It was originally tested at Lake X where it had to be towed on plane........
Sponsorship was something called "Cando" which was that era's millionaire backer with too much money and an ear for any hair brained idea.
We watched it run only once....at Point PLeasant,.....as a "Promotional display" for the concept. They had solved the planing problem with bow ballast by then....... Top speed was about 30 mph.
The hull broached badly, wobbling all over the place and bow steering uncontrollably. It could not run down sea at all while on plane. It was good for a few laughs, and yet another display of a fool and his money........etc.
Come to think of it, it's been 20+ years so it's about time for some one else to re-invent this concept (see below).....This time with outriggers.
T2x