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Thread: Martin Jetpack

  1. #521
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    Quote Originally Posted by minimoke View Post
    Crash landing now on the cards. Trades today at $0.086.
    Parachutes fell off today - down to $0. 06

  2. #522
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    Had to be a reason so checked out today's announcements. Essentially they dont have a comercially viable engine.

    Also only enough cash to see them through to august 2017 with parent company not wanting to put more in.

    Expect capital raising in very near future.

    I still cant see any justification for putting money into MJP. Given they are testing unmanned aircraft seems to me they have gone seriously backwards from glen martins original dream while new technologies have raced ahead.

  3. #523
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    Now a price starting with a 5. $0.058

  4. #524
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    Quote Originally Posted by minimoke View Post
    Now a price starting with a 5. $0.058
    and dipping into the 4's today at $0.049

  5. #525
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    Low of $.056 high of $0.089 today. Bwahaha.talk about madness (or manipulation)

  6. #526
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    More than 30 years of so called 'development', with at times 8 executive directors, more than 100 employees & at least $52m in funding. Promotional overseas travel to places like Dubai, Munich, Paris, Monaco, India & the USA. Signed 'Memorandum of Understanding', 'Intentional Framework Agreements' & 'Letters of Intent'. Now in need of a brand new engine design, after the current rotary engine has been declared as unsuitable & still only halfway through the flight testing programme? Burning through $20m per year & once more running out of funding at the end of August 2017. KuangChi Science, Martin Aircraft's (MACL) 52% majority shareholder, has just obtained the right to change MACL's executive board composition, finally enabling them to sack all current directors. So where to from here? Option 1: Another $10m from KuangChi Science, giving Martin Aircraft Company an additional 6 months of life. Option 2: KuangChi not providing any additional funding & the company closing its doors in approximately 6 weeks time. Option 3: Martin Aircraft trying for a capital raising at who knows what price, given that the current share price is just a few cents.
    DEk7YtRUQAIbHfG.jpg

  7. #527
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    I think option 2 the most likely. Though i never understood why KC bought in the first place.this was always only ever going to be a garage project worth no real commercial market potential. Also never came to grips with where KC came from either. Out of no where came mega billions - all very strange. Given that, they may well launder more cash through MACL.

  8. #528
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    One has to wind back the clock to early 2015, minimoke. The time when the founder of the company, the then CEO & various venture capitalists spruiked this jetpack in their IPO prospectus and various print/digital media outlets. They supposedly had hundreds of enquiries from private, industrial & military sources and all that was apparently needed was money to set up a manufacturing facility. Soon after the company was listed, the founder voluntarily resigned and the stationary display unit and a simulator were shipped around the world, with nothing to sell, other than logo printed accessories (i.e. T-shirts, luggage tags & thermal flasks). The 'highlight' for me was their attendance at a Monaco luxury goods (mainly cars & watches) exhibition in Monaco, mingling with royalty and producing a fake video, showing their jetpack landing in this mediterranean principality. This video (and others) still exist on the internet (with comments disabled). Just conduct a search and you will find them. The former CEO then sourced a rotary engine from a UK based company, specialising in power plants for unmanned drones. It took Martin Aircraft Company more than a year to admit to themselves that 30 hours of running time before a complete rebuilt was something that would NOT be an attractive feature of a still highly aspirational jetpack. There were also problems with the cooling system and of course the noise. There are other issues, like a 100kg payload, which includes a 40litres fuel tank. You work out yourself, how much a pilot can weigh with these specifications and why you never saw the then CEO (and qualified pilot) flying this apparatus. The company founder is now giving inspirational speeches all over the place, stating that "the only competitor the Martin Aircraft Company has to worry about is that on the 22nd of September of this year (2017) his restraint of trade is coming off". So, a fantastic environment for all the trusting supporters of Martin Aircraft Company who gave this gentleman many chances to turn a backyard shed concocted dream into the world's first fully certified practical jetpack. I have not heard anyone from this company thanking ALL shareholders for their support, other than perhaps gratitude towards their last remaining financial lifeline, a Shenzhen based, Hong Kong listed and Bermudas incorporated company.

  9. #529
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    Quote Originally Posted by Deceived View Post
    One has to wind back the clock to early 2015, minimoke.
    My clock wind s back well before then in another thread. I have consistently never seem anything attractive here as an investment. It only ever was a back yard project

    If any one is excited by a September RoT release then they are mugs. Glen was never able to make a commercially viable product and he can spend the next 30 years trying ' he will still fail. In the meantime new technologies emerge which make a potential jetpack redundant.

  10. #530
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    Mr. Martin was lucky the first time around, listing his company on the ASX (and not the NZX) then cashing in by selling his unrestricted MJP shares with a healthy return. I doubt very much that he will be able to attract (unsophisticated) investors again, should he really have anything in store after the 22nd of September 2017. Once bitten twice shy! There is a video online with him giving a presentation at the posh Crowne Plaza Auckland on the 11th of November 2016, patronising his audience and his former investors, using foul and totally ill-suited language. Really worth a look and highly recommended for anyone wanting to avoid future capital losses. Again and with the benefit of hindsight and more research, Mr. Martin announced the first sales of his jetpack invention as far back as 2008, when it was proclaimed that "copies went on sale at the airshow in Oshkosh (USA) with prices starting at US$100,000". The video shows the Martin Jetpack being chased near ground level by 2 anxious earmuff wearing assistants, anticipating the 'disruptive technology airframe' to suddenly crash to the ground at any moment. Almost 10 years later and this jetpack is still only halfway through flight testing and far far away from gaining commercial certification. They are also desperate for a replacement engine with currently just 6 weeks left of funding.

    The special meeting, called for by KuangChi Science and held at Martin Aircraft's HQ in Christchurch happened more than a fortnight ago. No news yet if the current NZ based board members have been replaced by 'international talent' and/or if the MJP request for another $10m is granted. Meaning that without any news, Martin Aircraft Company could be closing its doors by the end of August 2017 with a possible option to turn these facilities into a men's shed.
    Last edited by Deceived; 14-07-2017 at 05:49 PM.

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