This is a Momentous Operational milestone.
The Transcendental Model 1-G was an open cockpit, single seat, tilt shaft technology research aircraft. The first flight was a hover in helicopter mode. The aircraft never fully completed the transition from vertical to fully horizontal prop/rotors.
See the following reference for a detailed account of the history of this aircraft,
"Transcendental Aircraft | The Real First Tilt Rotors", Bill Norton, VERTIFLITE Summer 2006, Page 56
Source: AHS V/STOL Wheel entry for this aircraft