The pilot was departing a dry lake bed on a local flight. Ground witnesses reported that upon reaching between 50 and 60 feet above the ground the engine sustained a total loss of power. Instead of landing straight ahead in the open area the pilot elected to execute a right turn. The aircraft stalled during the turn and plunged nose down into the ground. The engine examination disclosed no evidence of any internal catastrophic failures. The airframe fuel system and the engine accessories were destroyed. The aircraft's maintenance records disclosed that the pilot/owner/builder had not performed any condition inspections as required by current Federal Air Regulations since it received its special experimental airworthiness certificate on Oct 22, 1986. The pilot's records were not recovered. According to the FAA, the pilot received his last second class medical certificate on December 27, 1990. He indicated on the medical application form that he had accrued 430 hours. The aircraft log book revealed that the pilot had flown the accident aircraft for 5 hours and 12 minutes.