MJP 0.00% 0.8¢ martin aircraft company limited

Thanks bubs & dazza. I am 'glad' that I am not alone here with...

  1. 50 Posts.
    Thanks bubs & dazza. I am 'glad' that I am not alone here with my sentiment regarding these latest developments. I really don't like being taken for a fool. They had almost 2 years since the IPO and they are (in my opinion) going backwards. Are we supposed to sit back and quietly accept this stuff? My investment in this company will most likely be a total loss, but I am not willing to go under without a fight. I have re-read the IPO prospectus and there are some interesting things in there. I have just contacted a New Zealand authority to look into the misleading website claims, including the ridiculous video clips that they are not removing from their website. Being incorporated in NZ and listed in Australia is complicating things somewhat. Why did they not list on the NZ exchange? I have also been in direct contact with MJP on numerous occasions, but they are now ignoring me now. That is the thanks you are getting for your direct support and for your help in paying their wages. The MJP IPO states that the CEO receives NZ$300,000 per annum, plus 3 million share options, exercisable at (wait for it) 24 NZ cents (wow, what a performance hurdle. That is an instant gift!!!!!). There was also a NZ$50,000 bonus for him when the stock first listed. There could also be an annual bonus at the companies discretion. All this information is freely available on their 2014 prospectus. So I am not making these things up. According to this carefully crafted document, the manned jetpack should have had a payload of 120kgs (not 100kgs), travel at a speed of 74km/h (not 40km/h) and be airborne for 30 minutes. Q2 2016 was the advised delivery date for the first responder jetpack and the Skyhook UAV should be released this quarter (Q3 2016). That is the information I used to purchase my shares, just before Glenn Martin cleared his desk. What we have right now is a glorified golf cart (how pathetic) and we are asked to take this media stunt serious and view this as a fantastic marketing ploy. They can't be serious, can they? According to a supplement to the original IPO, Kuang-Chi has agreed that it will not use its shareholding to materially alter the composition of the board for a minimum period of 30 months from the listing date. What foresight the author of this magnificent document had. Am I risking anything by expressing my thoughts here, or should we keep everything nice and grey?
 
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Currently unlisted public company.

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