On July 16, 1995, at 1400 Alaska daylight time, a wheel equipped Cessna 150 airplane, N7892E, registered to a deceased individual and operated by the pilot, crashed into trees 2 miles beyond the end of the Kalskag runway. No flight plan was filed and visual meteorological conditions prevailed. The commercial certificated pilot, the sole occupant, was not injured and the airplane was substantially damaged. During a telephone conversation with the pilot on July 17, 1995, he stated that he purchased the airplane but the seller passed away before the paperwork transaction could be completed. He stated the airplane needed an annual inspection and he was performing high speed taxi tests attempting to warm up the engine. He said that during one run he was going too fast to stop in the remaining runway and elected to takeoff. As the airplane was climbing out the engine began to lose power and he was forced to land in the tundra. The airplane nosed over. According to the pilot the airplane was using marine/automotive gasoline. The pilot stated that a fire at his home consumed the airplane's logbooks, his pilot logbooks, and his pilot and medical certificates. The airplane had not been flown and had not received an annual inspection in 3 years.