Alright guys,I'm going to reply to all in one post. @KyleK , It is made of plastic except for the retaining ring on top and the three screws around the top. I has female threads on the bottom. @shane0911 , It has a slight bevel at the top of the tube, but parallel for the most part. The slits and retaining ring are there to hold something, but not a candle. @red55 , The cone does have a purpose and you are on the right track on the diffuser guess. It just doesn't deflect air, water or rocket blasts. George is winking, because as a former surveyor, he approves of the technology that this item is a part of, even though it still wouldn't have been accurate enough to use in surveying.
So it doesn't deflect light, water, air, or fire but it does deflect/diffuse something and that would only leave earth so it would have to be some sort of bit or bit holder? Is it some sort of counter sink? Has to be a solid that it deals with.
Or sound. He said it doesn't deflect water, but it could be some other fluid. He says the technology it is part of is not accurate enough for surveying, suggesting that it is some kind of technology that determines position.
@shane0911 , your thinking is heading in the wrong direction. @red55 , you are so close, except for the determining position. However, what it helps do is a factor in determining distance. @KyleK , it definitely mounts to something, but it sure isn't a lathe. You could mount it to a tripod, but it would be more convenient to mount it to something else, say a staff or a pole.