Continental, Inc. was formed in 1945 to develop a "roadable" aircraft designed by Robert E. Fulton, the company's president. The Fulton "Airphibian" was designed to convert from a light aircraft to a small, two-seat convertible for ground travel. The prototype Airphibian first flew on 7 November 1946. The Airphibian was awarded a Civil Aeronautics Authority Approved Type Certificate in December 1950, becoming the first roadable aircraft ever certified. Unfortunately, the Airphibian never found a place in the light aircraft market and the company collapsed in 1954.