MF Enterprises was a minor comic book publisher in the 1960's who sought to cash in on the then current superhero craze by publishing Captain Marvel comics. Their Captain Marvel had the same name and a few other similarities to the original Fawcett version, but clearly wasn't meant to be the same character. His powers and abilities greatly differed from the original, as a matter of fact he was actually supposed to be an alien robot. Carl Burgos ( creator the Human Torch ) was credited with this Captain Marvel, although he did not actually work on the comics.
"The Ray" who appears in this story was originally called "The Bat" and presumably was changed to avoid legal problems with DC comics, publishers of Batman comics. MF comics also had to change the name of their "Plastic Man" ( another villain ) when DC comics revived the original plastic man. "Tinyman" appears to be very similar to DC comics "Atom", but is sometimes thought to have been a different version of "Doll Man", who was another character from the old comics that had passed into public domain by this time.
Shortly after the MF comics version stopped publication, Marvel came out with their own "Captain Marvel", who was also supposed to be an alien. Some people thought that the Marvel character might have been influenced by the MF version. Both also appear similar to the less well known alien character who had been called "Captain Marvin" in ACG's ADVENTURES INTO THE UNKNOWN #157.
"The Blonde Bomber" was a variation on "The Blonde Bombshell", a term that had originally been applied to Jean Harlow. "The Blonde Bomber" was used as a nickname for Carole Landis, but it was also the name of a comic book character.
This particular story was originally published in ALL-NEW COMICS in 1943.
Rocket planes were common in the comics in this period and there were actually some experimental ones in real life, although jet propelled aircraft would not become common until after the war.
And here we have a rocket to cut out and paste together from SCIENCE COMICS. It looks like the other rockets that they had in that particular comic book, and it also looks something like the rockets they had in the Flash Gordon serials at the time.