On September 22, 1993, at 1605 central daylight time, an amateur built Lanceair 235M, N12TN, registered to Tito Nappi of Ft. Myers, Florida, and operated by a private rated pilot, experienced an impact with a dirt bank at the departure end of runway 18 (2,540' x 260' turf) at Cottonwood Airport in Rockford, Illinois, during an aborted landing. The airplane sustained substantial damage. The pilot reported no injuries. The personal 14 CFR Part 91 flight was operating in visual meteorological conditions. No flight plan was on file. The flight departed Janesville, Wisconsin, at 1550. The pilot stated that this was the first flight of the airplane by him in five months. He stated that during the landing the airplane seemdd to float longer than normal and after touchdown the application of brakes were not effective on the wet grass. He attempted to about the landing; however, during the initial climb the landing gear struck a dirt embankment at the end of the runway, and the airplane slid to a stop. The pilot stated during a face to face interview that he could have avoided the accident if, "I should have made a decision to go around sooner."