"Mr. Johnson [company president] admits the test didn't go very well. 'It was an utter failure. There's no question about it,' he said."
As far as the purchase by the US Navy? " "I can tell you that we purchased it in good faith," said Lt. Col. Jacquelin Lyons. "And we got ripped off."
"...And now, the Securities and Exchange Commission is investigating Sniffex Inc. for possible stock trading violations."
http://www.dallasnews.com/sharedcontent/dws/bus/stories/041607dnbussniffex.39c48dd.html
Mirror of the same article on SMU university physics department web site here.
Also from the article: "Mr. Johnson once lived in one of the most expensive houses in Tarrant County – a $7 million French chateau replica in Colleyville."
This appears to be the house in question:
Emphasis added in quotes from the newspaper.
