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.
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