Vasey converted the BF-50 into an agile single-seat aerobatic performer, replacing the original 50 hp Franklin engine by an 85 hp fuel-injected engine. He moved the pilot's seat and controls to the center of the cabin, thereby shifting the center of gravity, and also shortened the wingspan by 7 ft 2 in (2.18 m), and strengthened the wings, to generate more speed and a faster roll rate.
Two years later the aircraft was sold to the aerobatic instructor and air show performer Duane Cole, who replaced the 85 hp engine by an 150 hp Lycoming O-320-A2A. Cole, one of the founders (member no.8) of the EAA, and the aircraft (now preserved at the EAA) achieved a long list of accomplishments, as stated by the EAA:
Attendance in all but two EAA Fly-In Conventions 1953 to 1989.
First in US National Aerobatic Championship 1962 and 1964.
Selected in USA World Aerobatic Team 1962 to compete in Hungary.
Flown in more air shows than any other aircraft.
Landed at more airports than any other aircraft.
Entertained millions of spectators in 47 states and 5 foreign countries."