MJP - We keep our Promises

MJP's website has been revised, with their 2014 IPO declared performance specifications downgraded and delivery times postponed. Not all recent ASX announcements have yet been listed there, but they are busy with more pressing issues, I suspect. The focus is no longer on 2008 (an early Glenn Martin prediction), or on 2016, but on 2017, the year of the Rooster (chinese calender). I know that there is a very generous cornerstone investor, but we must all be unselfish and give freely when the call comes. MJP reveals in their August 2016 ASX announcement that "the company will need to raise further finance to complete (just) the certification process". However, as of their end of June 2016 quarterly update, they still have NZ$29.6 Million cash on hand. Staff expenses only amount to NZ$1.4 Million per quarter, or NZ$4.35 per year. So there is still a lot of room to move until the kitty is depleted (yet again).

Looking at the bright side, the new 40km/h performance target will ensure that no speeding tickets will be issued, even when flown in 'peak time' school zones. The new flight range of 15-20 kilometres will also make it easier for support staff to deliver additional fuel to be rushed directly to the aircraft, should the sortie location extend to more than 7.5kms from the jetpack base. So, it is not all bad news and referring to their MISSION & VALUES website statement: they "keep their promises and deliver quality results".

We should lean back, relax and have some fun with this. "We are all in this together", OK some more than others: