Martin Jetpack

[GuessX]

It has a letter of intent from the US Department of Homeland Security for the provision of jetpacks and says it is negotiating another letter of intent with an undisclosed business

We all know how deep US pockets are.

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11387402

[babymonster]

i do hope one day we can fly this thing to work.

[robbo24]

Sorry. I should be more specific. The prospectus at page 7 says she intends selling 268419 shares or 53.7% of her existing holding. Not 54% as I stated

Oh, and love the press release. Apparently the jetpack can carry up to two passengers as a first responder. Wee porkies like that don't get past me but will other potential investors

Pilot + petrol + 100kg... Slim down a bit and you'll be fine man.

[robbo24]

Sorry. I should be more specific. The prospectus at page 7 says she intends selling 268419 shares or 53.7% of her existing holding. Not 54% as I stated

Oh, and love the press release. Apparently the jetpack can carry up to two passengers as a first responder. Wee porkies like that don't get past me but will other potential investors

I'm tired of having to hold your hand through these simple tasks. I give you more credit than this most of the time but these whimsical ideas just go on and on...

NO 8 VENTURES NOMINEES LIMITED owns 37802040 shares (21.57%) in Martin Aircraft Limited, as per this link.

NO 8 VENTURES MANAGEMENT LIMITED owns 100 shares (100.00%) in NO 8 VENTURES NOMINEES LIMITED, as per this link.

AURIGA HOLDINGS LIMITED owns 100 shares (100.00%) in NO 8 VENTURES MANAGEMENT LIMITED, as per this link.

Jennifer Ann MOREL & Alan Esmond BOLLARD own 96000 shares (99.79%) own 100% of AURIGA HOLDINGS LIMITED in the name of the Morel Bollard Family Trust.

Now, I'll let you work this out, as a percentage how much of a 37,802,040 shareholding is a selldown of 268,419 shares?

Better luck next time mate.

[Harvey Specter]

Robbo - the nominee company doesn't hold all those shares (37m) for the benefit of its shareholders (which you have traced through to be 99.79% Jenny Moral). It holds them as nominee for other investors, hence the use of the word 'Nominee'.

Without doing any research, Jennys beneficial ownership would be a lot less than 37m and I assume must in the 500k region based on the little I have read. The other 36.5m must be being held for other investors (which include you and me as taxpayers via the NZVIF).

[Frostwind]

Guys,

Just want to chip in my 2c worth:

I've never seen an IPO that extends deadlines like this... And the sentiment is shifting quickly from risk on to risk off, and the longer they drag on, the worse it would be... Mounting IPO cost aside, the market internals have weakened dramatically over the last few weeks.

You cannot take the 40c KCS' application at face value, as they get a lot of other benefits on top. So if they are willing to pay 40c for a share incl benefits, the market will likely be considerably lower than that.

Future dilution after KCS exercise of CB is also something that should be considered. If all goes well, it'll dilute the IPO buyers, and market price will adjust sharply lower when they exercise the CBs, as it always does to massive dilution. If it doesn't go well, it'll take KCS out as well.

I also don't like the fact that insiders are dumping shares by the millions at IPO.

Also this management has a track record of excuses and missed deadlines, I failed to see how a pending IPO can affect engineering development in any significant way and deadlines have been pushed out again.

The cost for a unit has also grown from 100K USD to 200K USD, so the market will be much smaller, at that price you can buy a micro helicopter, or some very advanced drones.

Now to the good part:
with such a steep price, they won't have to sell many units to generate a lot of profit

[Schrodinger]

Guys,

Just want to chip in my 2c worth:

I've never seen an IPO that extends deadlines like this... And the sentiment is shifting quickly from risk on to risk off, and the longer they drag on, the worse it would be... Mounting IPO cost aside, the market internals have weakened dramatically over the last few weeks.

You cannot take the 40c KCS' application at face value, as they get a lot of other benefits on top. So if they are willing to pay 40c for a share incl benefits, the market will likely be considerably lower than that.

Future dilution after KCS exercise of CB is also something that should be considered. If all goes well, it'll dilute the IPO buyers, and market price will adjust sharply lower when they exercise the CBs, as it always does to massive dilution. If it doesn't go well, it'll take KCS out as well.

I also don't like the fact that insiders are dumping shares by the millions at IPO.

Also this management has a track record of excuses and missed deadlines, I failed to see how a pending IPO can affect engineering development in any significant way and deadlines have been pushed out again.

The cost for a unit has also grown from 100K USD to 200K USD, so the market will be much smaller, at that price you can buy a micro helicopter, or some very advanced drones.

Now to the good part:
with such a steep price, they won't have to sell many units to generate a lot of profit

Is it correct to assume they still have to produce a working prototype. Who would be willing to see their cash flow away while they tinker in the garage?

[Harvey Specter]

yip - search Youtube.

I think it has gone up remotely but only a meter or so with a human pilot onboard

[Frostwind]

Is it correct to assume they still have to produce a working prototype. Who would be willing to see their cash flow away while they tinker in the garage?

It's not an assumption, they stated it clearly, they have only just finished the simulator preliminary design, not even the final design.

As for the actual product, it is only at the design stage, with the 1st delivery to be in Q3 2016, and that's *if* they meet the deadline.

Meanwhile I doubt they'll generate much cashflow. I would be surprised if they can close above 40c even for a day after IPO. I think it'll do a King Digital or Zynga on its big day.

[robbo24]

Is it correct to assume they still have to produce a working prototype. Who would be willing to see their cash flow away while they tinker in the garage?

https://www.youtube.com/user/MartinJetPack/videos

Here's a few videos for you, playa