On May 15, 2002, at 1905 eastern daylight time, a home built Aero Partners One LLC, CA 7SL, N4075Z, registered to Aero Partners One LLC, in Las Vegas, Nevada, and operated by the commercial pilot, collided with water shortly after takeoff from his third touch and go landing at the Cocoa Merritt Island Airport in Merritt Island, Florida. The personal flight was operated under the provisions of Title 14 CFR Part 91, and visual flight rules. Visual meteorological conditions prevailed and no flight plan was filed for the local flight. The airplane sustained substantial damage and the pilot received fatal injuries. The flight originated from Merritt Island, Florida, at 1835. According to witnesses, the pilot was practicing touch and go landings at the time of the accident. Witnesses further stated that on the third approach, the airplane was high and hot (fast) neared the end of runway 11. Witnesses heard the engine power up for a go around and the airplane climbed in a near vertical attitude to approximately 200 feet above ground level. The airplane appeared to have stalled, felled off to the left and entering a spin. The airplane rotated approximately 380 degrees before impacting the water. The witnesses stated that they were approximately 2500 feet from the point of impact at the time of the accident. The airplane was an experimental amateur-built airplane constructed from fiberglass composite materials with approximately 30.5 hours of total time. The airplane was powered by a Walter 601D turbo propeller engine with an Avia Propeller. Both the engine and the propeller were built in the Czech Republic and were not FAA certified. Examination of the wreckage found the windshield broken out and both front side doors off the airplane and lying in the water below the door openings. Both wings were found hanging down from their attach points. Both wing main struts were buckled with their attachments intact. Both aft spars to the fuselage mounts were broken. Examination of the wing assembly revealed that both wing had rotated forward and the outboard leading edges were damaged. The fuel tanks in both wings were ruptured, and there was evidence of fuel spillage at the accident site. The right wing still held a large amount of fuel. The main landing gear was of the conventional type and had failed aft. The floor of the cockpit was pushed up into the cockpit. The wing flaps were in the up position. The rudder trim was found trimmed slightly to the left. The elevator trim was found in the landing configuration, approximately two inches down at the trailing edge. Flight control continuity was established for all controls. Both fuel valves were in the open position. The engine control quadrant had broken from its mounts and was found positioned in the middle of the cockpit. The throttle control lever was stuck at the idle setting. The propeller control lever was in the full forward position. The fuel control lever was found in the cut off position. Because of damage, and the subsequent removal of the airplane from the water, it could not be determined what the engine control positions were. The propeller attach bolts had sheared, separating the propeller from the engine. Examination of the propeller showed that two of the blades were in the negative pitch position and were bent back. One blade was in a positive pitch position with minimal deformation. According to the manufacturer, when landing this airplane with full flaps, the elevator trim must be adjusted to the nose up position. When conducting a go-around the flaps are raised and the elevator must be adjusted to a more neutral position or the airplane will pitch up. A toxicology examination was performed by the FAA's Toxicological and Accident Research Laboratory. There was no Carbon Monoxide, Cyanide, Ethanol or Drugs detected in the blood or urine samples provided to the laboratory.