It is a fiberglass chassis with Kyosho stamped on the front skid plate. After looking at it for a while I think it may be a homemade chassis for the Ultima. I put it side by side with my original Ultima and the metal piece in the front has the same grooves on the underside. It also looks like the sides of the original frame was cut down as well. Has anyone seen anything like this before? Was this a common mod back in the day? The frame arrived today so I haven't had too much time with it and I am not positive if everything is straight yet but if it is I may try to build it up and see what happens, otherwise it will be a pretty cool piece of wall art
