Straight from MJP's marketing roadmap in their late 2014 IPO prospectus:
Q2 2016 - Deliver first responder jetpack's to first customers - NOT MET
Q2 2016 - First site of Jetpack experience - NOT MET
Q2 2016 - Product release of Personal Jetpack - NOT MET
Q3 2016 - Delivery of first Skyhook UAV - NOT MET
- Computerised testing has shown it should be capable of speeds up to 74 km/h - NOW 40km/h
- It can carry a payload of 120Kgs - NOW 100Kgs
- With a standard fuel tank, the Jetpack can remain airborne for up to 30 minutes - NOW 28 minutes
Also, MJP claims a fuel capacity of 40 litres, with a payload of 100kgs, including fuel. Given that 1 litre of petrol weighs approximately 1kg, a fully fuelled jetpack would allow a pilot to weigh no more than 60kgs and this is without any addition medical/rescue equipment.
Their maximum altitude has also been revised to a paltry 2,500 feet above mean sea level. This equates to 762 metres above sea level. The Burj Khalifa in Dubai is 2,722ft (829.8 metres) tall. Dubai was said to be interested in these jetpacks for high rise rescue purposes.
All this is just not adding up. Really no wonder, why their newsletters have been so vague and non-committal. This will in my opinion not end well.
MJP Price at posting:
54.0¢ Sentiment: Sell Disclosure: Held
