According to the Pilot/Operator Aircraft Accident Report form submitted by the pilot, and subsequent telephone conversations with the pilot, he intended to over fly a local music festival. Both wing struts on the airplane were equipped with a flag measuring 3 feet by 2 feet. During the take off, it "appeared as if the engine was not making full power, possibly due to plug fouling." The pilot elected to abort the take off, and the airplane "overran the end of the runway, hit a barb wire fence, and flipped over into a stream on the other side of the fence." The airplane was partially submerged in water. The fuselage was crushed down and the bottom wing was crushed aft and the empennage was crushed and wrinkled. The pilot was adamant that this was not a density altitude issue, as the flight had been made successfully for the past six years under similar conditions. Density altitude was calculated to be 8, 580 feet. The engine was filled with water and had to be drained before an examination could take place. An examination of the airplane's engine revealed that six spark plugs were covered with carbon like deposits. These spark plugs would not fire when tested. In addition, 4 cylinders exhibited compression levels below 40. An examination of the remaining airplane systems revealed no anomalies.