Martin Jetpack

**robbo24** · 22-12-2014, 01:37 PM

Originally Posted by minimoke

Possibly also worth pointing out that if the KSL transaction doesn't go ahead the IPO will not proceed at which point I think we can say it is goodye to MJP.

So nervous times for existing holders. They will be looking closely at any potential insolvency event. At june 2014 they had $700k in cash and $500k in current liabilities. They have incurred costs between july 2014 and January 2015 with no apparent income. IPO costs have just gone up but offset by a $1m loan from KSL.

I wouldn't be so concerned about insolvency as delay. In my view the MJP has value but it is "so very scary" for investors that they cry about it and run away.

Still bullish. As minimoke once quipped, "I concede that time will tell."

**robbo24** · 22-12-2014, 01:44 PM

Originally Posted by minimoke

spied it. My word this is a weighty document. The listing gets more complex the longer it goes on. And still no word from/about Avwatch.

Any Idea Why MJP want access to KSL's advanced materials? I thought this thing was ready to fly without more trials on some unknown alien technology.

My guess is that there may be some potential way to use the MJP to launch or deal with The Traveller - purely a guess though.

Alternatively, we're moving into the Mega Man era whereby the world is catching up with the Air-Man level of Mega Man (Nintendo game technology).

I note the use of ducted fan propulsion systems armed with varying types of weaponry, including lightning bolts.

**GuessX** · 22-12-2014, 01:49 PM

Both Robbo and Minimoke seem to be getting along after weeks of debates.

What's changed after todays announcement? :P

I've spent a bit of time following this thread and really enjoyed seeing both sides argued so very well. How are each of you guys feeling after todays announcement? Has it changed / softened your opinion at all?

**minimoke** · 22-12-2014, 01:53 PM

Originally Posted by robbo24

My guess is that there may be some potential way to use the MJP to launch or deal with The Traveller - purely a guess though.

I had thought mjp had come up with some special fly by wire technology. But I also see the balloon is going to be tethered at a couple of km high. So can't see quite the use for fly by wire and I'm quite sure the jet pack isn't designed to go that high. Unless you strap some unsuspecting Chinese or congoles pilot into it.

**robbo24** · 22-12-2014, 02:05 PM

Originally Posted by GuessX

Both Robbo and Minimoke seem to be getting along after weeks of debates.

What's changed after todays announcement? :P

I've spent a bit of time following this thread and really enjoyed seeing both sides argued so very well. How are each of you guys feeling after todays announcement? Has it changed / softened your opinion at all?

My view is that the advisors to MJP, or MJP, probably went with a higher initial IPO valuation than was necessarily cogent with the risk profile of the investment. The risk profile will drop off once a sale or two comes through - MJP only need to sell a few jetpacks to demonstrate some fundamental value.

Therefore, I see no problem with reducing the offer price as a foolhardy investor who sees value in MJP but accepts the risk involved.

Although, in all honesty I haven't calculated whether the new deal with KSL actually represents more shares at a lesser price so it doesn't change the mCap at all.

If the KSL deal goes ahead then MJP has the money in the bank to get the jetpack to customers - who cares where it's coming from, in my view, because KSL is taking on more risk than anyone (except some of the current holders like No 8 Ventures who I believe put in like NZ$12m a long time ago)... Money in the bank, jetpacks to customers, sales = derisk = rerate = $$$.

I really like the inclusion of a "if the share price reaches $1.20 for 30 days or more then..." in the supplementary prospectus

Where did they pull that sum from, I wonder?

**robbo24** · 22-12-2014, 02:08 PM

Originally Posted by minimoke

I had thought mjp had come up with some special fly by wire technology. But I also see the balloon is going to be tethered at a couple of km high. So can't see quite the use for fly by wire and I'm quite sure the jet pack isn't designed to go that high. Unless you strap some unsuspecting Chinese or congoles pilot into it.

Yeah, f*** knows but if the cash is being paid over then there must be something to it:

Through the investment in Martin Jetpack, the Group can share the advance technologies of the Group including advanced materials technology and computational simulation technology to support the development of the jetpacks. On the other hand, the Group will benefit from the aviation and flying technology from Martin Jetpack for the development of the civil near space flying apparatus, namely the Traveller, and the wifi broadcasting technology, namely the Cloud. The Group considers this investment is a stepping stone to establish a new research and development centre in Australia and New Zealand region and also to facilitates and support the launch of the Traveller in New Zealand by year 2015.

**minimoke** · 22-12-2014, 02:15 PM

Originally Posted by GuessX

How are each of you guys feeling after todays announcement? Has it changed / softened your opinion at all?

im even more bearish now. I reckon this ksl is super dodgy - based on a company worth $25m a couple of months ago and now worth according to MJP $3b. Also that there entry into near space is new and before that there expertise was in paper ( and making a loss).

I think things are now very dire. MJP seem to have all their eggs in one KSL basket. If the deal fails they don't have the cash to continue and with no IPO no way of getting more cash. Based on there appearing to be little interest in the IPO other than this very late run by KSL.

And even if it does go ahead is China really interested in a jet pack first responder. With cheap labour I don't think they place too high a value on life do its cheaper to send in people in jeeps rather than a jetpack. Unless there is plans to harass the tibetans- imagine jetpacks running up and down your boarder! Or as a way of disrupting falun gong meetings.

And I'm not sure I like the web of convertible securites which is being woven - it just seems to add a layer of complexity to a relatively simple jet pack build. If you have a product that flies how hard is it to get to market?.

Add to this the fact they seem no nearer to getting a product to market I cant see where research ends and sales begin

So, I continue with the view that I won't be putting my money in