EDENTON — A few of our readers have forwarded tips about Michael Reardon of Daedalus fame — we followed the story leads to the NC Secretary of State’s Office and the court system — all public record.
As we’ve reported — see our previous stories here and here — Reardon’s company is in trouble — after he acquired sailboat maker Catalina Yachts in May, his business started taking on water as they say…
By October, Reardon had been evicted from the Catalina factory for not paying rent, workers at his facilities had gone weeks without paychecks, and court documents revealed he owed more than $1 million to the company he’d bought just months earlier.
As to Edenton, Reardon attempted to acquire property to develop at the Cotton Mill complex in 2016 – that deal fell through, to put it simply.
Later, Reardon talked about building yachts in Edenton — Daedalus Composites sought to build advanced carbon-fiber catamarans using aerospace-quality materials and methods. Red flag…
But… the state of North Carolina awarded Reardon two grants totaling $1 million, according to announcements from the North Carolina Department of Commerce:
- 2019: $500,000 to renovate a 38,000-square-foot building for Daedalus Composites, with Reardon promising to create 50 jobs and invest $1.1 million in private funds.
- 2022: Another $500,000 for Reardon’s subsidiary, Hermes Marine, LLC, to manufacture 32-foot powerboats, with promises to create 136 jobs and invest $880,000.
Then Governor Roy Cooper announced the 2022 grant as part of efforts to build “a strong, resilient economy” in rural North Carolina, according to the state announcement. Chowan County, where Edenton is located, is one of the state’s economically distressed areas—exactly the kind of place these grants are designed to help. Someone should’ve vetted Reardon’s resume before awarding the money, but that’s a story for another day.
Long-story-short, no state money was ever paid for the grant because the Daedalus projects did not proceed.
“The way our rural grants work is, at the time of award announcement, a dollar figure of support is announced, but never paid upfront,” David Rhoades, NC Department of Commerce Director of Communications, said in an email. “Once a project gets underway and work has been completed, receipts are submitted to us and we reimburse for those actual expenses. So, as this project did not proceed, no request for reimbursements were ever made.”
In October 2025, the Edenton facility went up for sale. The asking price: $3.5 million for the 38,400-square-foot building with its crane rails, 30-foot ceilings, and waterfront access, according to a Colliers real estate listing.
Real estate photos show an enormous catamaran inside, unfinished. According to industry observers, Daedalus apparently never sold a boat. Employees have been let go, according to sources close to the region’s workforce development agencies.
One senses that a lot of people have been hurt by this venture — a lot of stories have begun bubbling to the surface… time will tell.
Trust me when I say, we are following the story closely, but we are letting things evolve in their due time. Indeed, we have been contacted or referenced by other media outlets that have praised us for our coverage — reporting that’s all sourced, good and proper.
NC Secretary of State’s Office
For now, let’s start with the paperwork filed with the NC Secretary of State’s Office — all this information is public record – all we did was compile.
This information raises red flags — since 2016, Reardon has formed 10 LLCs in North Carolina. Only one is currently “active” — Edenton Center for Performing Arts — formed in April. All others have been administratively dissolved or are “Active-Not Current.” This includes the flagship companies Daedalus Yachts, LLC and Daedalus Composites LLC. Links to the Secretary of State’s ID numbers are included in each profile. If gremlins or internet walls asking to “verify if you are human” prevent searchers from directly accessing the links, just go to the SOS’s business registration site and key in the company name and/or SOSID.
I’m sure there’s a logical explanation for all that paperwork being filed with the Secretary of State’s Office — all public record.
And I’m sure there’s a logical explanation as to why a boatbuilder is listed as the registered agent for the Edenton Center of Performing Arts, maybe to bring back the Safety Dance — an ’80s dance craze.
Questions one might ask —
· Why form so many companies?
· Why the diversification – Performing Arts; Composites; Property Holdings; Land-Yachts
· Why do most of the LLCs seem to be inactive or on the cusp of being administratively dissolved?
Secretary of State filings
Legal name: Hermes Marine, LLC
Secretary of State Identification Number (SOSID): 2195519
Status: Active-Not Current
Citizenship: Domestic
Date formed: 5/19/2021
Registered agent: Michael A Reardon
mailing address
109 Anchors Way Dr
Edenton, NC 27932
Principal office address
109 Anchors Way Dr
Edenton, NC 27932
Chief Executive Officer
109 Anchors Way Dr
Edenton NC 27932
Legal name: Daedalus Property Holdings, LLC
Secretary of State Identification Number (SOSID): 2077760
Status: Active-Not Current
Citizenship: Domestic
Date formed: 11/4/2020
Registered agent: Michael A Reardon
mailing address
109 Anchors Way Drive
Edenton, NC 27932-9746
Principal office address
109 Anchors Way Drive
Edenton, NC 27932-9746
Registered office address
109 Anchors Way Drive
Edenton, NC 27932
Chief Executive Officer
109 Anchors Way Drive
Edenton NC 27932
Legal name: Solectra Yachts LLC
Secretary of State Identification Number (SOSID): 2889794
Status: Active-Not Current
Citizenship: Domestic
Date formed: 8/2/2024
Registered agent: Michael A Reardon
mailing address
109 Anchors Way
Edenton, NC 27932-9746
Principal office address
109 Anchors Way
Edenton, NC 27932-9746
Managing Member
109 Anchors Way Drive
Edenton NC 27932-9746
Legal name: Edenton Center for Performing Arts
Secretary of State Identification Number (SOSID): 3025892
Status: Current-Active
Citizenship: Domestic
Date formed: 4/15/2025
Registered agent: Michael A. Reardon
Registered office address
328 Yeopim Rd
Edenton, NC 27932
Registered mailing address
328 Yeopim Rd
Edenton, NC 27932
mailing address
328 Yeopim Road
Edenton, NC 27932
Principal office address
328 Yeopim Road
Edenton, NC 27932
Legal name: Daedalus Aerospace LLC
Secretary of State Identification Number (SOSID): 1872903
Status: Admin. Dissolved
Citizenship: Domestic
Date formed: 7/26/2019
mailing address
109 Anchors Way
Edenton, NC 27932
Principal office address
109 Anchors Way
Edenton, NC 27932
- Manager
109 Anchors Way
Edenton NC 27932
- Member
109 Anchors Way
Edenton NC 27932
Legal name: Daedalus Composites LLC
Secretary of State Identification Number (SOSID): 1550180
Status: Active-Not Current
Citizenship: Domestic
Date formed: 10/17/2016
Registered agent: Michael Reardon
mailing address
109 Anchors Way
Edenton, NC 27932-9746
Principal office address
109 Anchors Way
Edenton, NC 27932-9746
President
109 Anchors Way
Edenton NC 27932
Legal name: Daedalus Hydrogen Systems LLC
Secretary of State Identification Number (SOSID): 1872905
Status: Admin. Dissolved
Citizenship: Domestic
Date formed: 7/26/2019
mailing address
109 Anchors Way
Edenton, NC 27932
Principal office address
109 Anchors Way
Edenton, NC 27932
- Manager
109 Anchors Way
Edenton NC 27932
- Member
109 Anchors Way
Edenton NC 27932
Legal name: DAEDALUS LAND-YACHTS LLC
Secretary of State Identification Number (SOSID): 1851095
Status: Admin. Dissolved
Citizenship: Domestic
Date formed: 6/3/2019
mailing address
109 Anchors Way
Edenton, NC 27932
Principal office address
109 Anchors Way
Edenton, NC 27932
Managing Member
109 Anchors Way
Edenton NC 27932
Legal name: Daedalus Power Systems LLC
Secretary of State Identification Number (SOSID): 1872910
Status: Admin. Dissolved
Citizenship: Domestic
Date formed: 7/26/2019
mailing address
109 Anchors Way
Edenton, NC 27932
Principal office address
109 Anchors Way
Edenton, NC 27932
- Manager
109 Anchors Way
Edenton NC 27932
- Member
109 Anchors Way
Edenton NC 27932
Legal name: Daedalus Yachts, LLC
Secretary of State Identification Number (SOSID): 1756292
Status: Active-Not Current
Citizenship: Domestic
Date formed: 10/1/2018
Registered agent: Michael Reardon
Registered office address
109 Anchor’s Way
Edenton, NC 27932
Registered mailing address
109 Anchor’s Way
Edenton, NC 27932
mailing address
109 Anchors Way
Edenton, NC 27932
- Manager
109 Anchors Way
Edenton NC 27932
- Member
109 Anchors Way
Edenton NC 27932
Lawsuits
Then there are the lawsuits – they are posted below – that deal with financial matters. Long story short, folks want their money.
5 responses to “Edenton’s Boatbuilding Dreams: Reardon’s Rise and Fall”
Strange there has not been a single word about Daedalus or Reardon in the Chowan Herald. Even when this story became national news when he acquired Catalina Yachts and Tartan Yachts.
I believe the first presentation of Reardon in Edenton was as a proposed builder/developer at the Edenton Cotton Mill and his attempt to acquire common space.
Then there was the litany of .com’s with Reardon as the registrant and manager. Examples that come to mind are
Edentonweddingassociation.com with a store front office at the corner of Water and Broad Street in early 2017. And then Mulberryhillweddings.com(public and well documented) and I believe he “managed” the dining room renovation at the Country Club.
It all seemed very odd and out of character for a “master” boat builder. And yet no evidence of legitimate, serious vetting at any time.
BBohl
Thanks for covering this. I have read some of the Catalina Yachts employees stories on line, mostly on Facebook. Very sad. From what I read I think there are at least 6 lawsuits against Michael Reardon of Edenton NC (listed below). All public info. Anyone can look them up using clerk of court, the county, and Michael Reardon’s name. Looks for cases filed in 2025.
Michael A. Reardon lawsuits …
1 Catalina Yachts Vs Michael Reardon , Pinellas County FL
2 KMT Funding Vs Michael Reardon , Queens County NY
3 Clearfield Solutions Vs Michael Reardon , Kings County NY
4 Kash Advance Vs Michael Reardon , Erie County NY
5 Pure Financial Funding Vs Michael Reardon , Washington County NY
6 Litefund Solutions Vs Michael Reardon , Monroe County NY
Great work finding all the LLC’s and thanks for loading the lawsuits. Looks like Lawsuit 2 of 5 is not linked / loaded in the article. Can that be added to the article? Thanks again for the hard work.
Thx for reading
Reloaded lawsuit 2 and added lawsuit 6 to the growing file.
— Miles