Found a colour photos of it and another one that shows it almost head on, I can't believe anybody took it seriously let alone order it into production.
From the familiar design halls of Italy's Caproni comes the naked horror of the Stipa, built in 1932 to test the thrust effect of a tubular fuselage. The 120 Hp. DH Gipsy III yielded a top speed of 81 Mph, and the lift effect of the tube made the landing speed 42 Mph.
That colour pic above, is a replica built in Australia by a very well known warbird operater. The thing that puzzles me is when you have a hanger with a/c such as a Mustang, T-28, T-6,Fiat G59 and a stearman, why would you want to mess up your hanger space with that thing??
belive or not, the put around 200,000 british pound to the project, is the concept of the ducted fan engine, and some said that this was used to produce the pulse jet engines, the ones used by the vi flying bombs