Development of the Polecat begun in 2005, probably at the time as the RQ-170 Sentinel was developed because of so many similarities. The P-175 is a flying wing Aircraft, that is powered by two Williams FJ44-E3 engines. The inlets are like on the B-2 Spirit on the top of the fuselage.
Lockheed Martin confirmed the existence of the aircraft at the Farnborough International Airshow 2006 and published the only existing image of the Polecat. On 18th Decmber 2006 the prototype crashed, so that the project was cancelled prematurely.
Currently it is unknown if the Polecat was a drone designed for reconnaissance or combat, but it is also possible that the P-175 was only a technology demonstrator. It's relatives are the F-117 Nighthawk, Phantomray, and Seintel; not to forget the B-2 Spirit.