Martin Jetpack

[robbo24]

I don't hold any Australian shares and this is the only company on that board I have followed reasonably closely. There are times I think nz is like the wild west. But trading in mjp puts Australia in another galaxy.

A similar thing happened with ASX:PYL on its opening day too. IPO was at 20 cents, opened at 30 cents then it hit 90 cents two days later.

Now it's back down to earth, as they say on Hot Copper

[fungus pudding]

What's this outfit all about?

http://www.nzherald.co.nz/world/news...ectid=11447760

[Joshuatree]

WOW if they're for real i want one

[minimoke]

What's this outfit all about?

http://www.nzherald.co.nz/world/news...ectid=11447760

like glen this guy has been pottering around in his back shed but only since the early 2000' s. Not petrol fueled but kero.
compared with glens efforts this beast has an average speed of 200 kph. Flight time 6 to 14 minutes. Wing Weighs Around 55kg And Each Of The 4 jet turbine engines a few kilos each. 300 kph on descent or 180 on ascent. Now that's what I call a jet pack!!

Note: Also comes with a parachute and free will writing service.

[Harvey Specter]

Now that's what I call a jet pack!!

But I think it is launched by jumping out of a plane, not from the ground which is quite a large difference.

[minimoke]

But I think it is launched by jumping out of a plane, not from the ground which is quite a large difference.

Probably the simplest way of overcoming the problem of weight vs lift. no insurmountable problem - just a matter of compromise.

[trackers]

WTF

http://www.theaustralian.com.au/busi...5/06/03/16132/

Guess that begs the question.. Was the float just a way for Martin to cash out, or has he been rolled by the (new) big holders? Surely that's one hell of a lot of intellectual property walking out the door? Seems a bit of a shambles to me

[Harvey Specter]

Looks like he has been pushed, otherwise it would have been gradual (staying on as advisor kind of thing). Wonder what he will do with his 15% holding - will they buy off him or will he dump on market.

Thoughts Robbo?

[robbo24]

Looks like he has been pushed, otherwise it would have been gradual (staying on as advisor kind of thing). Wonder what he will do with his 15% holding - will they buy off him or will he dump on market.

Thoughts Robbo?

My understanding is that Mr Martin's main motivation was to see his jetpack dream turned into reality.

Business wise, Mr Martin's dream has been slowly eroded further and further by business savvy types.

Ultimately, I think, Mr Martin's dream became an ASX listing that resulted in his dream turning into an NZ incorporated company, listed in Australia and owned and managed from China. All the while, the new Chinese directors are probably strangers to Mr Martin.

Speaking from the Chinese city of Shenzhen, where the firm has just held a board meeting, chairman Jon Mayson also declined to give a reason for Martin's departure

If I were Mr Martin, I would be looking for a one-off placement of my shares (if I wanted to sell out).

Although, if I was Mr Martin and I was still confident in my dream becoming reality then I would offer my services as a highly paid consultant to the Chinese owner of Martin Jetpack - all the while holding onto my shares.

I guess we'll see won't we?

[minimoke]

An interesting development. Clearly Glens vision and that of the board are not aligned. Sudden departures are never a good look.

Given investors recently bought in on the back of Glens vision this has to be a disappointment for investors.

On the other hand it might be that this board can actually create a profitable business using mjp technology which Glen and the old board were never able to achieve. There may be a silver lining.

I think it a very sad day for Glen. A few months ago he had IP, a business and a dream. Now he has neither. All he is left with its a parcel of shares that he can't sell for two years. If we follow the trajectory of the sp it may be the shares have very little value after that time. I also don't think he has the skills to be a consultant. If he was that able / skillef he would have turned out a personal jet pack well before now.

I think what we will see now is development into the unmanned aircraft space. Perhaps something between a drone and a helicopter. Not sure quite what the market will be for such a thing - will need to give that some thought.

I'm also picking a close down of Christchurch with a move to perhaps China where manufacture is cheaper, close to a probable market and still able to fly in skills when required.