Congratulations Rob, you basically got it right. Here are my answers with some detail elaboration of the why of the lack of success in the aircraft marketplace.
1. Waterman "Flex-Wing" model 4CLM.
2. Waldo Waterman of California.
3. In theory and in practice the "flex wing" could change dihedral of the low wing as well as the wing's angle of incidence. The strut bracing the low wing to the fuselage on each side was actually a hydraulic piston that could change the length of the strut thus changing the wing's dihedral, but the wings also could pivot about the axis of the mount to the fuselage. The wings initially were hinged at a 30 degree angle to the thrust line. When dihedral angle of the wings was changed manually from the cockpit, so was the angle of incidence. For a landing, the wing was set nearly flat span-wise, thus offering the most angle of incidence for a slower glide and slower touchdown. It was a fixed-gear cabin taildragger and the wing pivot points were inboard of the main landing gear struts, angled back to the fuselage. So, at maximum dihedral the main gear were well-canted, rather than vertical to the runway. A streamlined gear fairing is shown in some photos.
4. My reference states that Robert Porter, President of Kinner Motors donated the Kinner C5 five cylinder radial engine of 190 Horsepower. Twenty-four other syndicate "subscribers" donated $1,000 each for the aircraft's development.
5. Airplane seated four.
6. The idea behind the flex-wing theoretically was to absorb jolts in rough and bumpy air to smooth the ride. While on the ramp the wing's angle of incidence could be preset for takeoff manually from the cockpit and also for most efficient angle of dihedral. The assumption was that the wings under air load would flex against the hydraulic struts to dampen the bumps of rough air. In practice, the wings more or less stayed in place under the air load and THE FUSELAGE ROSE AND FELL with the rise and fall of air currents or maneuvering of the aircraft about its axes. It has been said that Waterman called it the "Flapper." One needed a strong stomach to fly or ride in the airplane.
Initially it was registered as X-169W (serial #1), later NC169W. I believe the American aircraft registration system was in a state of flux in 1929 and 1930. Waterman took the aircraft to the National Air Races of 1930 held in Chicago in August and September for national exposure. It flew nearly every day and became a feature of the show between races. The aircraft became a hangar queen for a time and final disposition is unknown. As you state, the economic crash of 1929 probably did in a number of fledgling aircraft manufacturers who got their impetus from the Lindbergh trans-Atlantic solo non-stop non-refueled flight in 1927. This accomplishment ignited an aviation frenzy at the time.
Again, thanks for your diligence in answering these quizzes. It is getting harder to stump the audience out there. Now, I have to come up with another poser.