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We present a gravitational collapse null dust solution of the Einstein field equations. The space-time is regular everywhere except on the symmetry axis where it possesses a naked curvature singularity and admits one parameter isometry group, a generator of axial symmetry along the cylinder which has closed orbits. The space-time admits closed timelike curves (CTCs) which develop at some particular moment in a causally well-behaved manner and may represent a Cosmic Time Machine. The radial geodesics near the singularity and the gravitational lensing (GL) will be discussed. The physical interpretation of this solution, based on the study of the equation of the geodesic deviation, will be presented. It was demonstrated that this solution depends on the local gravitational field consisting of two components with amplitudes Ψ2 and Ψ4.

Axially Symmetric Null Dust Space-Time, Naked Singularity, and Cosmic Time Machine