On July 27, 2002, at 1120 central daylight time, a Fleet 7 Deluxe experimental, single-engine airplane, N790V, was substantially damaged during a forced landing following a total loss of engine power near Canyon, Texas. The airplane was registered to and operated by the pilot. The private pilot sustained serious injuries and his one passenger sustained minor injuries. Visual meteorological conditions prevailed, and a flight plan was not filed for the 14 Code of Federal Regulations part 91 personal flight. The local flight originated from the Kelso Airport, Amarillo, Texas, at 1100. According to the pilot, he performed a preflight inspection and engine run-up, which included a magneto check, prior to takeoff and found no anomalies with the airplane. He stated that the takeoff roll was approximately 600 feet before the airplane was airborne and he then climbed to 5,000 feet. He stated that the flight was in cruise flight (smooth air) when the engine experienced a "sudden power loss." As the pilot pumped the throttle in attempts to restart the engine, he observed "raw gas" coming from the exhaust stacks. The pilot also attempted to restart the engine on different magneto switch positions, but was unsuccessful. Subsequently, a forced landing was executed to a field. During the forced landing, the airplane nosed over and came to rest inverted. An FAA inspector, who examined the airplane at the accident site, reported that the firewall was displaced rearward through the cockpit, the fuselage was buckled, and the landing gear was separated. Examination of the 160-horsepower Kinner R-55 engine revealed that the ignition switch was inoperative. In the Pilot/Operator Aircraft Accident Report (NTSB Form 6120.1/2), the pilot reported that the magneto switch (A.C. Type 9) had malfunctioned.