MJP - Website Claims

I have been in contact with the Australian Stock Exchange (ASX) and the Australian Competition & Consumer Commission (ACCC). I complained that Martin Aircraft continues to make false claims, regarding the performance specifications of its manned jetpack.

MJP revealed in their 2 August 2016, that estimated performance targets of their manned jetpack have been considerably downgraded and that they are now AIMING to deliver the Series 1 aircraft in early 2017. Unsurprising to me, this update does not feature in their LATEST NEWS section, but is hidden in the ASX ANNOUNCEMENTS area. I have read release dates of 2008 & 2016 and anything in between, so you judge yourself how reliable these announcements really are. This video, also posted on MJP's website, still promises a release date of 2016.

This clip in turn boasts performance specifications, which have now been considerably revised in their August 2016 update. It also shows the jetpack obviously strapped to the top of a truck and keeping up with the traffic on the Anzac Bridge here in Sydney. I cross this bridge most days and the speed limit is 60km/h, so the jetpack with its new 40km/h airspeed would not be able to keep up with the traffic.

All of this is highly misleading to say the least and I a stunned about how much this NZ based, AUS listed company can get away with and that it still enjoys support from some parts of the investor community.