Charlie Babb was a used aircraft and parts dealer. He seems to have been a wheeler-dealer with personal connections throughout the California aviation community (Donald Douglas, Howard Hughes, etc). I suspect that this aircraft model actually represents a design by aeronautical engineer, 'Bill' Hlobil. The available patents for Charlie Babb were filed with Josef SJ Hlobil (although his name is mis-spelled on US2268009). So, who was JSJ Hlobil of Beverly Hills, CA?
Hlobil was a Czech engineer trained at the Imperial Czech Technical University of Franz Joseph in Brno (with post-grad work in aeronautics at Vienna and Paris). He flew with the K.u.K. Luftfahrtruppen during WWI before coming to the US. In 1923, Hlobil worked for Curtiss before moving to Consolidated in March 1926. In February 1937, the Consolidated Aircraft Corporation's Consolidator newsletter, mentioned the imminent departure of 'Bill' Hlobil.
On 25 August 1937, the LA Times reported on the formation of the Lobil Aircraft Corporation with Josef SJ Hlobil as president. [1] "Hlobil, an aircraft engineer formerly with Consolidated Aircraft Corporation in San Diego, said his company will specialize in military planes." Directors were Charles T. Leigh (VP, Consolidated) EJ Rivers (NAA Corp.), Gregory M. Creutz (attorney, import/export), and E. J. Dickinson.
Construction of experimental aircraft was expected within weeks, "with production scheduled to start in six months." Obviously that was overly optimistic. However, there is mention of a 'Lobil Monoplane' fighter - which makes sense, Hlobil having been a fighter pilot in WWI. Note of the new firm was made in the US Army Air Corps' Technical Data Digest (Volume 3, No. 22, 15 November 1937) but I can find little other record of Lobil Aircraft Corporation.
Maybe Hlobil was taking advantage of Babb's extensive personal connections in the southern California aircraft industry. Maybe Hlobil was hired by BabbCo to develop original designs. Who knows?
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[1] Hlobil had obviously grown tired of spelling out his Czech surname for English-speakers.