Metal Storm Provides Potential US Navy Contract Clarification
Wednesday 07/25/2007 8:31 PM ET - Market Wire
Metal Storm Limited (NASDAQ: MTSX) and (ASX: MST).
Metal Storm (the Company) wishes to clarify its previous announcement (Potential US Navy Contract) to the market on Wednesday, July 25, 2007.
On November 17, 2006, the Company advised the market of a potential contract with the US Navy Space & Warfare Center (SPAWAR) for the production of one (1) anti-personnel unattended weapons pod system utilizing Electronic Ballistic Technology (EBT) and one (1) operator unit. At that time the Company expected to be advised of the outcome of this potential contract by December 30, 2006. Since that time the Company has kept the market informed of the status of this potential contract.
On June 12, 2007, the Company advised the market that in keeping with the normal contracting processes of the US Navy, it had received a formal Request for Proposal (RFP) for this contract. In response to that RFP, the Company provided its formal response to the US Navy's request by the due date June 13, 2007.
These announcements related to submissions to the US Navy Space & Warfare Center (SPAWAR) in San Diego, California.
On Wednesday, July 25, 2007, the Company advised the market that Naval Surface Warfare Center, Dahlgren Division (NSWCCD), Dahlgren, Virginia, has placed a notice on the US Federal Business Opportunities website, and the Navy Electronic Commerce on Line (NECO) website that it intends to award on a sole-source basis to Metal Storm an order for one (1) 40mm Weapon Pod Assembly, one (1) Electronic Fire Control Unit for assembly and three (3) 40mm 4042 Weapon Assemblies.
These are separate and distinct opportunities for the company. In the future, the company will advise progress on each using the whole name to ensure they are fully identified.
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One with blind men not taking charge of the situation!
