Jetpack developer Martin Aircraft Company's warehouse is being advertised for lease, directors have resigned, assets written off, and no one's answering the phone. Chinese company KuangChi Science is the controlling shareholder and day-to-day funder of the Jetpack, rated by Time Magazine in 2010 as one of the "most anticipated" world's top 50 inventions. DEAN KOZANIC/STUFF Backyard Jetpack inventor Glenn Martin who cut ties with Martin Aircraft says there are now several hundred companies making small craft. Meanwhile, the share price of Hong Kong-listed KuangChi Science has been volatile and in a declining trend in recent mlnths. It has investments in Traveller, an all-weather multi-purpose orbit satellite "Martin Jetpack for search and rescue, military, recreational, and commercial applications", Solar Ship, and SkyX aircraft.

Source: Stuff May 23, 2019 02:43 UTC