I notice that the date of that memo from Brad Stahl was June, 2009. Let's look at their website:
Flight Sciences - The Persuit Of Excellence In Flight
If not in spelling...
It's
pursuit, boys.
The company's main focus seems to be their fledgling airplane design, the...umm...Phoenix.
(Mel Brooks voice: Again with the Phoenix! Oy vey, how many times will people use this name for their aircraft?)
Let us hope that changes before it gets too far along.
Anyways, the company appears to be just three people. Or maybe three guys and a wife (sounds like the title of a bad American sitcom). Perhaps they looked into building a composite version of the Bell 47 main rotor blade. And perhaps they ran up against the big stone wall of FAA certification. Hmm, if they thought certifying a composite blade for an existing aircraft design was going to be easy... No wonder they've gone back to focusing on their...umm...Phoenix.
And hey, if we wanted a helicopter with a composite, light weight, low-inertia rotor system, we'd all be flying R-22's!
Oh wait, we are.