Marine Jet Technology Corp has been listed for trading on the OTCBB under the symbol MJET. The company develops and markets marine jet propulsion technology based
on three issued patents and patent pending. The latest form of this technology is the Variable Marine Jet, which incorporates computer control of variable components of the pump, nozzle, and inlet.
Management believes that this technology will compete strongly against propellers and conventional marine jets for propelling fast boats and fast ships of all types. The company’s initial market focus was recreational and small commercial watercraft. It has now shifted its market focus to fast military craft and to fast military ships, particularly the Littoral Combat Ship, which is currently in the design phase.
Recent marketing efforts include a Technical Presentation by company President Jeff Jordan at the Multi-Agency Craft Conference on the Norfolk Base in June. Mr. Jordan also attended the Naval-Industry R&D Partnership Conference 2003 in Washington, DC in August, where Marine Jet Technology Corp
was featured in the Technology Showcase.