MTSXY Finra deleted symbol:

http://otce.finra.org/DLDeletions

MTSXY is severely delinquent in filing their Financials and corporate filing obligations to the SEC. On Feb. 20, 2015 the SEC suspended 8 stocks from the Delinquent SEC Filers list, and it is likely that more delinquent Filers will be suspended.

Since Jan 1st, 2010 the SEC has suspended over 1290 stocks for Financials delinquencies. All of those Suspended stocks had their stock registrations revoked.

Shareholders should contact the company and pressure the Mgmt to file their delinquent Financials because ALL shareholders would be wiped out IF the SEC suspends the stock.

MTSXY is on the list of delinquent filers:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=110680509

Very possibly…

On August 1, 2014 I was watching some video of riots on the Israeli West Bank and was pleased to see what looked like Metal Storm’s FireStorm FURY in use. Although I can’t locate the initial video, some searching over the weekend revealed two separate videos of crowd control vehicles with what appear to be the FURY in operation. The launch sequence begins at ~11-seconds in and appears again at ~29-seconds.

YouTube video:

MTSXY is getting attension and momentum

MTSXY is smells like a winner

MTSXY is major bounce could be on the way

Metal Storm wins US$1.48m contract from Colt Canada

http://www.proactiveinvestors.com.au/companies/news/31224/metal-storm-wins-us148m-contract-from-colt-canada-31224.html

$4.65m Subscription Agreement $11.9m Secured Debt Eliminated

http://investor.metalstorm.com.au/IRM/Company/ShowPage.aspx/PDFs/2227-94073533/465mSubscriptionAgreement119mSecuredDebtEliminated

first time all of the trades at ask .002 in Sidney

Man is this Board Dead or what?

Is this worth the Risk Any More?

Great news thing will start to look up for this stock

finally made some money from this stock today.

something is brewing here...

looks like accumulation time..

News!


http://wotnews.com.au/announcement/metal_storm_new_issue_announcement/01066698/

Metal Storm New issue announcement
Tue, 25 May 2010 17:21:00 +1000 1 day, 6 hours ago

Appendix 3B New issue announcement Rule 2.7, 3.10.3, 3.10.4, 3.10.5 Appendix 3B New issue announcement, application for quotation of additional securities and agreement Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public. Introduced 1/7/96.

Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003, 24/10/2005. Name of entity Metal Storm Limited ABN 99 064 270 006 We (the entity) give ASX the following information.

Part 1 - All issues You must complete the relevant sections (attach sheets if there is not enough space). 1 of +securities issued or to be issued +Class Ordinary Shares 2 Number of +securities issued or to be issued (if known) or maximum number which may be issued 1 2 1,931,152 5,864 3 Principal terms of the +securities (eg, if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for +convertible payment; if securities, the conversion price and dates for conversion) 1. Ordinary shares issued to employees pursuant to shareholder resolution on 21/5/2010 2.

Ordinary shares issued on exercise of quoted options + See chapter 19 for defined terms. 24/10/2005 Appendix 3B Page 1 METAL STORM LIMITED ABN 99 064 270 006 4 Do the +securities rank equally in all respects from the date of allotment with an existing +class of quoted +securities? If the additional securities do not rank equally, please state: • the date from which they do • the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment • the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment 1. Yes 2.

Yes 5 Issue price or consideration 1. Nil 2. $0.15 per share 6 Purpose of the issue (If issued as consideration for the acquisition of assets, clearly identify those assets) 1.

Issued pursuant to remuneration arrangement to exercise of 2. Issued pursuant unquoted options 7 Dates of entering +securities into uncertificated holdings or despatch of certificates 1. 24 May 2010 2.

24 May 2010 + See chapter 19 for defined terms. Appendix 3B Page 2 1/1/2003 Appendix 3B New issue announcement Number all 1,122,837,575 107,602,756 32,756,332 27,869,309 Number all 60,796,872 +Class 8 and of quoted on ASX (including the securities in clause 2

Wondering what is going on here, looks like it hit bottom.

Need to find out if some new dropped on this one.

This is slowly crawling back. up 55% today. hummmm

News?

This one, it appears it's being delisted from the Nasdaq and moved to the otcbb for lack of compliance. I do know that the us military is heavily interested in the technology.

Maybe it will have a huge selloff due to the move, i'm not going to buy right yet.

The latest PR saying something about moving to the OTCBB. Is that this company or another company of there?

I can't believe this is grinding so low.

I'm gonna have to hit this soon...... i can't believe the price.

needs volume/news.could touch 75,indicators are up

And the stock goes down? They have a great Product. Why?

Double bottom,needs volume

Metal Storm Receives USMC Contract for Demonstration of Non-Lethal Weapon System





ARLINGTON, VA (NASDAQ: MTSX), is pleased to announce that Metal Storm Incorporated (MSI) has received a contract from the United States Marine Corps Systems Command (MARCORSYSCOM) to demonstrate capabilities for the Mission Payload Module (MPM) -- Non-Lethal Weapons System (NLWS). The firm fixed price contract is valued at US$103,751.




Under the terms of the contract, Metal Storm will prepare and deliver a demonstration model for a Government-controlled Market Research Demonstration (MRD). The MRD is intended to aid the Government in identifying current technologies that have been developed by industry.

Following the MRD, the Government plans to initiate a new full-and-open contracting effort for a System Development and Demonstration (SDD) Phase contract. Following these phases, the government anticipates releasing proposals for production contracts.





The Mission Payload Module -- Non-Lethal Weapons System (MPM-NLWS) will provide the warfighter a non-lethal counter-personnel capability. The system will support missions requiring crowd control, and will deny, defend and control area access while allowing the warfighter to engage threats at standoff ranges and protect non-combatants.




Commenting on the award Peter D. Faulkner Metal Storm Inc. General Manager, said, "Metal Storm is pleased to be participating in the MPM program and are looking forward to the Market Research Demonstration. We believe the benefits of our technology when combined with that of our teaming partner Defense Technology, part of the BAE Systems Products Group, will provide significant improvements in range, area coverage and in particular, volume of fire over existing non-lethal weapon systems."



The MPM-NLWS will be mounted onto the High Mobility Multipurpose Wheeled Vehicle (HMMWV). Follow-on spirals will ultimately be integrated on other tactical vehicle platforms, unmanned ground vehicles, and Navy surface water vessels through an evolutionary acquisition process. Effects such as obscuration and illumination will be added to address future and emerging capability gaps. The weapons platform will be capable of providing greater range, area coverage, precision, and scalability than current NLW systems.

Actually they have been featured by "Futureweapons" on the history channel several times over the past year or two. Very interesting stuff.

just found it the other day,they were on a public tv channel about the future of guns/bullets.
will make some calls,hopefully before it goes up

I've been watching this one. I'm interested.

New HOD on MTSX

Brisbane, AUSTRALIA – 6 August 2007: Metal Storm Limited (ASX trading code: MST and NASDAQ ticker symbol: MTSX).

Metal Storm Limited announced today that a Sole Source Contract has been awarded.

Metal Storm Inc. (MSI) has advised it has been awarded a Sole Source Contract from the Naval Surface Warfare Center, Dahlgren Division (NSWCDD) for Qty 1 4 barrel 40mm Weapon Pod Assembly, Qty 1 Electronic Fire Control Unit and Qty 3 40mm 4042 Weapon Assemblies. The contract is valued at USD$63,864 with delivery to occur on or before 31 October, 2007.

http://www.metalstorm.com/index.php?src=news&prid=355&category=Latest%20Information

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.

From another board:

According to Google Finance, 1st quarter financials should be released on Monday. It appears all transactions are buys thus far today.

Jul 09, 2007 Q1 2007 Earnings Release - 12:00pm ET Add to calendar

JUst bought into this --LONG TERM

Metal Storm Confirms All June 30 Milestones Have Been Achieved
Monday July 2, 1:55 am ET


ARLINGTON, VA--(MARKET WIRE)--Jul 2, 2007 -- Metal Storm Limited (NasdaqCM:MTSX - News) and (ASX:MST.AX - News).
ADVERTISEMENT


On July 28, 2006 Metal Storm announced a fully underwritten Renounceable Rights Issue. In the Issue Prospectus the Company explained its product development programs, and, importantly, set clear and specific goals to have completed fully functional prototypes of its Redback™ and 3GL weapons and associated 40mm ammunition by no later than June 30, 2007. The Company also set the goal to have $AUD19.5M in cash on June 30, 2007. These goals took the form of binding covenants between the Company and holders of the convertible notes offered in the Renounceable Rights Issue.

On June 21, 2007, Metal Storm advised the market that it had achieved the goals relating to fully functional ammunition systems and weapons prototypes.

The Company is pleased to advise that Mr. Mike Hannan, the independent expert appointed by the Trustee to assess compliance, has now delivered his full report to the Trustee in which he confirms the success of Metal Storm meeting the covenant.

In regard to the cash covenant, the Company is also pleased to confirm that on June 30, 2007 the Company held a cash balance of $AUD20.7M. This is significantly higher than the $AUD19.5M required, and is a strong reflection on the focus and diligence with which the Company has been managing its expenditure.

"These achievements show that Metal Storm has the ability to set challenging, measurable goals and achieve them on time and within budget," said Lee Finniear, CEO. "We will continue this disciplined approach as we take our weapons systems to full commercialization."

The Metal Storm test firing program in Singapore is now successfully complete. The engineering team has commenced the analysis of the extensive ballistic data, high speed and conventional high definition video captured during the tests. The Company looks forward to releasing video and further information on the test firing results as soon as data and imagery is collated and approved.

Notes:

Metal Storm's Australian Stock Exchange trading code: MST

Metal Storm's NASDAQ Small Cap ticker symbol: MTSX

About Metal Storm

Metal Storm Limited is a multi-national defence technology company engaged in the development of electronically initiated ballistics systems using its unique "stacked projectile" technology. The company is headquartered in Brisbane, Australia and incorporated in Australia, with an office in Arlington, Virginia.

Metal Storm is working with government agencies and departments, as well as industry, to develop a variety of systems utilising the Metal Storm non-mechanical, electronically fired stacked ammunition system.

Metal Storm's weapon technology uses computer-controlled electronic ignition and a system of stacked projectiles, to achieve a completely non-mechanical gun that is very lightweight and compact, providing a very high firepower to weight ratio. The Metal Storm weapons system utilises multiple barrels mounted together on one platform which allows varying munitions types to be deployed in a single, low cost, lightweight weapon system. Firing the weapons by electronic ignition requires no moving parts, allowing reliable long term unattended weapon operation.

Safe Harbour

Certain statements made herein that use the words "estimate," "project," "intend," "expect," "believe" and similar expressions are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties which could cause the actual results, performance or achievements of the company to be materially different from those which may be expressed or implied by such statements, including, among others, risks or uncertainties associated with the development of the company's technology, the ability of the company to meet its financial requirements, the ability of the company to protect its proprietary technology, potential limitations on the company's technology, the market for the company's products, government regulation in Australia and the US, changes in tax and other laws, changes in competition and the loss of key personnel. For additional information regarding these and other risks and uncertainties associated with the company's business, reference is made to the company's reports filed from time to time with the Securities and Exchange Commission, including the company's Form 20-F.



Contact:
Company Contact:
Australia & USA
Dr Lee Finniear
Chief Executive Officer
Metal Storm Limited
Ph: +61 7 3123 4700

We should get an update on this on Monday or Tuesday.

A) Covenants

In past releases to the market, Metal Storm has made clear the criticality of its satisfying certain covenants within the Convertible Note Holders Trust Deed by June 30, 2007.

The company has also previously advised that the two crucial covenants are the requirement to provide fully functional ammunition systems and prototypes of specified systems and to maintain a minimum cash balance of $AUD19.5M up to June 30, 2007.

The company now advises as follows:

1. The independent expert appointed by the Trustee has provided an initial summary report to the Trustee, verbatim:

"Metal Storm Testing - June 2007

On 18 June 2007 Metal Storm completed testing to demonstrate achievement of the Milestones required by the Trust Deed for which you are Trustee. Testing was undertaken at the Bukit Timah complex of Singapore Technologies Kinetics (STK) and included the following systems:


-- Ammunition systems -- integrated with STK
-- The Redback™ system -- Integrated with Electro Optical Systems
-- The 3GL system
The testing program followed the plan provided with my first report to you and agreed as a fair test of the Trust Deed Milestones.

The Metal Storm systems of ammunition, Redback™ and 3GL, performed as required to meet the plan standards in objective firing tests. In addition, Redback™ and 3GL were assessed as meeting the test standards in the areas subjective assessment.

In summary, the Metal Storm projects for ammunition Redback™ and 3GL are assessed as having achieved a "fully functional prototype" state of development and there are no apparent obstacles to them achieving full production standard.

My full report on the testing will follow as soon as possible.


Yours sincerely

Mike Hannan
Independent Expert"
2. The company presently has a cash at bank position of $AUD20.8M.

The covenant requires at least $AUD19.5M to be held. The Board expects net cash out flow to June 30 to be no more than $AUD150,000. Accordingly the Board anticipates this covenant will be met.

As a consequence of the above the Board is confident that all current requirements of the covenants within the Trust Deed will be met and exceeded by June 30, 2007.

( MTSX ) ~ Metal Storm Passes June 30 Performance Milestones
Thursday June 21, 12:00 am ET


ARLINGTON, VA--(MARKET WIRE)--Jun 21, 2007 -- Metal Storm Limited (NasdaqCM:MTSX - News) (ASX:MST.AX - News).
ADVERTISEMENT






Metal Storm is pleased to provide further information relating to meeting its covenants with the Convertible Note Holders and progress with the Singapore Test Firings:

A) Covenants

In past releases to the market, Metal Storm has made clear the criticality of its satisfying certain covenants within the Convertible Note Holders Trust Deed by June 30, 2007.

The company has also previously advised that the two crucial covenants are the requirement to provide fully functional ammunition systems and prototypes of specified systems and to maintain a minimum cash balance of $AUD19.5M up to June 30, 2007.

The company now advises as follows:

1. The independent expert appointed by the Trustee has provided an initial summary report to the Trustee, verbatim:

"Metal Storm Testing - June 2007

On 18 June 2007 Metal Storm completed testing to demonstrate achievement of the Milestones required by the Trust Deed for which you are Trustee. Testing was undertaken at the Bukit Timah complex of Singapore Technologies Kinetics (STK) and included the following systems:


-- Ammunition systems -- integrated with STK
-- The Redback™ system -- Integrated with Electro Optical Systems
-- The 3GL system
The testing program followed the plan provided with my first report to you and agreed as a fair test of the Trust Deed Milestones.

The Metal Storm systems of ammunition, Redback™ and 3GL, performed as required to meet the plan standards in objective firing tests. In addition, Redback™ and 3GL were assessed as meeting the test standards in the areas subjective assessment.

In summary, the Metal Storm projects for ammunition Redback™ and 3GL are assessed as having achieved a "fully functional prototype" state of development and there are no apparent obstacles to them achieving full production standard.

My full report on the testing will follow as soon as possible.


Yours sincerely

Mike Hannan
Independent Expert"
2. The company presently has a cash at bank position of $AUD20.8M.

The covenant requires at least $AUD19.5M to be held. The Board expects net cash out flow to June 30 to be no more than $AUD150,000. Accordingly the Board anticipates this covenant will be met.

As a consequence of the above the Board is confident that all current requirements of the covenants within the Trust Deed will be met and exceeded by June 30, 2007.

B) Test Firings

The performance covenants were measured as a part of a comprehensive test firing program currently being undertaken by Metal Storm at the facilities of Singapore Technologies Kinetics (STK) at Bukit Timah, Singapore.

The test firing program includes the testing of:


-- The Redback™ remotely operated weapons system, a collaborative
development between Metal Storm, Electro Optic Systems (EOS) and STK.

-- The 3GL three shot grenade launcher.

-- 40mm High Explosive, Enhanced Blast and Low velocity Airburst
ammunition comprising STK warheads with Metal Storm tails.
On June 15, the Company advised that, working with teams from its partners EOS and STK, it had successfully completed the test firing schedule for Redback™ and the ammunition.

On June 18, the Company commenced test firing of the 3GL three shot grenade launcher and successfully completed all tests required to meet the performance milestones defined in the Trust Deed. The Independent Expert, Mr Mike Hannan, was present for these tests.

Mr Hannan is a former Brigadier General in the Australian Defence Force (ADF). He commanded the UN Peace Keeping operations in the Middle East during the Gulf War and has on-the-ground experience in Iraq, Afghanistan, East Timor and the Solomon Islands. He was Chief Instructor of the Weapons Wing of the Army Infantry Centre, Commanding Officer of the Army Battle School, and was responsible for the introduction of the Milan missile system to the ADF. On entering civilian life Mr Hannan became CEO of a manufacturer of ceramic and soft armour for military contracts. In this role he gained extensive experience in the technical measurement of ballistic performance. This included the management of NATA approved ballistic testing facilities for both certification and research and development.

Of the successes so far in Singapore, Dr Lee Finniear, CEO, states that "this step is not only the achievement of a Milestone for the Trust Deed, but represents a truly monumental Milestone for the Company. Metal Storm has proven, without doubt and fully confirmed by an independent expert, that its low velocity 40mm weapons systems are real and perform well, including the initial integration of munitions, barrels, software, fire control and targeting systems. Further, the comment by the independent expert that 'there are no apparent obstacles to them achieving full production standard' provides further evidence that we are on the right track toward the commercial delivery of Metal Storm weapons and munitions."

On the results of Metal Storm's recent test firing Mr Suresh Withana, Managing Director of Harmony Capital Partners, stated, "Harmony is very pleased with the positive results of the test firings in Singapore. We look forward to working with Metal Storm to position the Company for the commercialization of its products."

The Metal Storm engineering team, lead by Dr Joe Cronin, is continuing its test firing program in Singapore to meet a variety of other objectives, including gathering detailed ballistic data & high speed video, assessing terminal effects and stress testing integrated systems for reliability analysis and further refinement.

The Company looks forward to providing further information on the test firings to the market as data and imagery is gathered and approved for release.

Completion of this milestone confirms the Company is now able to progress its plan of development into the future. That plan was the subject of the reports of the Chairman and of the CEO and MD at the Company's recent AGM. Those reports were announced to the market on May 25, 2007 and can be viewed on Metal Storm's website.


Notes:
Metal Storm's Australian Stock Exchange trading code: MST
Metal Storm's NASDAQ Small Cap ticker symbol: MTSX
About Metal Storm

Metal Storm Limited is a multi-national defence technology company engaged in the development of electronically initiated ballistics systems using its unique "stacked projectile" technology. The company is headquartered in Brisbane, Australia and incorporated in Australia, with an office in Arlington, Virginia.

Metal Storm is working with government agencies and departments, as well as industry, to develop a variety of systems utilising the Metal Storm non-mechanical, electronically fired stacked ammunition system.

Metal Storm's weapon technology uses computer-controlled electronic ignition and a system of stacked projectiles, to achieve a completely non-mechanical gun that is very lightweight and compact, providing a very high firepower to weight ratio. The Metal Storm weapons system utilizes multiple barrels mounted together on one platform which allows varying munitions types to be deployed in a single, low cost, lightweight weapon system. Firing the weapons by electronic ignition requires no moving parts, allowing reliable long term unattended weapon operation.

About Electro Optic Systems Limited

EOS is a public company, specialising in the design, development and production of sophisticated laser technologies, including supporting software and electronic sub-systems. EOS' advanced technologies are applied to a variety of sighting and surveillance applications in the aerospace and defence markets.

The combat-proven EOS sensor and fire control systems are currently deployed in the US Army CROWS (Common Remotely Operated Weapons System) program which has been successfully fielded since 2003, and is used in operations in Iraq. The EOS integrated surveillance and fire control technology employs state-of-the-art multi-spectral sensors and fire control software for direct-fire ballistic weapons.

About ST Kinetics

ST Kinetics is the land systems arm of Singapore Technologies Engineering. It provides integrated systems, specialty vehicles and their related services for defence, government and commercial applications. This includes design and development, systems integration, production, operations & support and life cycle management. Through its subsidiary, Advanced Material Engineering Pte Ltd, ST Kinetics also designs and manufactures a comprehensive suite of 40 mm munition solutions, conventional and smart munitions, advanced protective materials as well as guided system components. It also provides consultancy, design and engineering services for homeland security solutions.

Safe Harbour

Certain statements made herein that use the words "estimate," "project," "intend," "expect," "believe" and similar expressions are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties which could cause the actual results, performance or achievements of the company to be materially different from those which may be expressed or implied by such statements, including, among others, risks or uncertainties associated with the development of the company's technology, the ability of the company to meet its financial requirements, the ability of the company to protect its proprietary technology, potential limitations on the company's technology, the market for the company's products, government regulation in Australia and the US, changes in tax and other laws, changes in competition and the loss of key personnel. For additional information regarding these and other risks and uncertainties associated with the company's business, reference is made to the company's reports filed from time to time with the Securities and Exchange Commission, including the company's Form 20-F.



Contact:
Company Contact:

Australia
Dr Lee Finniear
Chief Executive Officer
Metal Storm Limited
Ph: +61 7 3123 4700

Mr Terry O'Dwyer
Chairman
Metal Storm Limited
Ph: +61 7 3237 5930

USA
Mr Peter Faulkner
SVP US Operations
Ph: +1 703 248 8218

Harmony Capital Contact (Singapore):
Mr Suresh Withana
Executive Director
Harmony Capital Limited
Ph: +65 6720 2828



--------------------------------------------------------------------------------
Source: Metal Storm Limited

Metal Storm Limited CEO Bulletin
Wednesday June 20, 12:18 am ET

ARLINGTON, VA--(MARKET WIRE)--Jun 20, 2007 -- Metal Storm Limited (NasdaqCM:MTSX - News) (ASX:MST.AX - News).

All,

With the AGM coming up in a little over a week, I thought it appropriate to provide a short CEO Bulletin in advance of the meeting so that those who cannot attend also get a flavour of the activities that are underway here at Metal Storm. This will be a brief CEO Bulletin, and for that I apologize. However we are focusing on the tasks at hand and, as I am sure you appreciate, our timeframes are very important as we approach the Singapore Live Fire Trials.

Singapore Live Fire Trials

In less than a week our weapons systems and munitions assemblies leave Australia for the STK Range facilities in Singapore for the most extensive firing trials ever performed by Metal Storm. Over the 6 week trial period we will be carrying out extensive live fire trials of Metal Storm modified high explosive, enhanced blast and low velocity airburst munitions, as well as comprehensive testing of the Redback™ and 3GL prototype systems. Our engineering team has made consistent and rapid progress towards these trials, with 5 3GL prototypes being constructed as well as 2 Redback™ prototype weapon pods. Our new facilities at Richlands, Queensland include a CNC machine shop and temporary range facilities. These facilities have allowed us to reduce engineering data analysis and modification cycles from weeks to hours, and have dramatically increased our engineering team's ability to prove up design enhancements prior to the Singapore trials.

The Singapore Trials have two main purposes. First, the data gathered from the trials will provide a substantial step forward on the path toward commercializing the Redback™ and 3GL products and their associated munitions. Second, the trials offer the opportunity to also prove that the prototypes meet the covenants of the Convertible Note holders before the June 30 deadline date. Based on what I have seen so far I believe that the company is well positioned to perform the trials and to meet the standards required by the covenants.

Cash Covenants

In addition to the performance covenants with the convertible note holders, we also have a cash covenant for 30 June 2007. At this stage I am confident we will meet the 30 June 2007 cash covenant requirement.

Sales and Marketing

As we progress our products toward commercialization we are continuing to seek research and development contracts from the US Government and other agencies worldwide. It is clear that to be successful in doing this we need to refine and improve our sales and marketing activities.

To bring together the efforts of the US and Australian teams we have implemented the Salesforce.com customer relationship management system. This enables our team to collectively track opportunities as they arise, and to work together across both offices to ensure we respond more rapidly and accurately to the tasks necessary to win. Whilst CRM systems normally take significant time to establish, we have been able to move this system to beneficial operation in less than 4 weeks.

In the marketing arena it is clear that our current website needs work if we are to present ourselves professionally. We have engaged a company to assist us with the complete re-design of the Metal Storm website so that we can send a clear, customer focused message to our worldwide audience. Prospects must know what they can purchase from us, why they should do so, and what steps they need to take to make this happen. These seem simple and obvious tasks for a website, but they are not ones that our current site facilitates. Complete website rebuilding takes time, and I will keep you informed of progress as we go forward.

Finally, in order to bring the cultures of the US and Australian organizations closer together we have completed the implementation of a high definition internet-based videoconferencing system between the two facilities. Its performance is excellent and we have already recovered the cost of implementation through saved airfares. The high definition also allows our engineering teams to show and demonstrate technical components to each other which would otherwise be extremely difficult to explain.

The steps above may seem incongruent with the immediate demands of NOW. However, these are essential changes to improve our sales pipeline and position the company well as it moves from a research oriented business toward also being a revenue focused product and solutions business.

NOW -- NEXT -- AFTER NEXT

The first of three stages of strategic planning was completed last week by the Metal Storm management team. The two day workshop held in Richlands office provided core strategic positioning input for a subsequent Board level strategic planning meeting late in May. Output from the Board level meeting will feed into a more detailed strategic planning and implementation planning process which will be executed in June & July. I am pleased to say so far that the strategies of the past year continue to be a core component of the future of Metal Storm as we continue to build our products and expertise in the 40mm space.

US Contracts

Our existing contracts continue to be progressed in line with expectations and we will report material developments on these contracts as and when they are made.

A Final Note

As I was typing this one of my engineering team came into my office and handed me a 3GL grenade launcher prototype mounted to a specially designed Metal Storm shoulder stock that has just come from the fabricator. To me it appears light, practical and impressive. We are indeed making good progress.

Lee Finniear
May 17, 2007
Notes:

Metal Storm's Australian Stock Exchange trading code: MST

Metal Storm's NASDAQ Small Cap ticker symbol: MTSX

About Metal Storm

Metal Storm Limited is a multi-national defence technology company engaged in the development of electronically initiated ballistics systems using its unique "stacked projectile" technology. The company is headquartered in Brisbane, Australia and incorporated in Australia, with an office in Arlington, Virginia.

Metal Storm is working with government agencies and departments, as well as industry, to develop a variety of systems utilising the Metal Storm non-mechanical, electronically fired stacked ammunition system.

Metal Storm's weapon technology uses computer-controlled electronic ignition and a system of stacked projectiles, to achieve a completely non-mechanical gun that is very lightweight and compact, providing a very high firepower to weight ratio. The Metal Storm weapons system utilizes multiple barrels mounted together on one platform which allows varying munitions types to be deployed in a single, low cost, lightweight weapon system. Firing the weapons by electronic ignition requires no moving parts, allowing reliable long term unattended weapon operation.

About Electro Optic Systems Limited

EOS is a public company, specialising in the design, development and production of sophisticated laser technologies, including supporting software and electronic sub-systems. EOS' advanced technologies are applied to a variety of sighting and surveillance applications in the aerospace and defence markets.

The combat-proven EOS sensor and fire control systems are currently deployed in the US Army CROWS (Common Remotely Operated Weapons System) program which has been successfully fielded since 2003, and is used in operations in Iraq. The EOS integrated surveillance and fire control technology employs state-of-the-art multi-spectral sensors and fire control software for direct-fire ballistic weapons.

About ST Kinetics

ST Kinetics is the land systems arm of Singapore Technologies Engineering. It provides integrated systems, specialty vehicles and their related services for defence, government and commercial applications. This includes design and development, systems integration, production, operations & support and life cycle management. Through its subsidiary, Advanced Material Engineering Pte Ltd, ST Kinetics also designs and manufactures a comprehensive suite of 40mm munition solutions, conventional and smart munitions, advanced protective materials as well as guided system components. It also provides consultancy, design and engineering services for homeland security solutions.

Safe Harbour

Certain statements made herein that use the words "estimate," "project," "intend," "expect," "believe" and similar expressions are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties which could cause the actual results, performance or achievements of the company to be materially different from those which may be expressed or implied by such statements, including, among others, risks or uncertainties associated with the development of the company's technology, the ability of the company to meet its financial requirements, the ability of the company to protect its proprietary technology, potential limitations on the company's technology, the market for the company's products, government regulation in Australia and the US, changes in tax and other laws, changes in competition and the loss of key personnel. For additional information regarding these and other risks and uncertainties associated with the company's business, reference is made to the company's reports filed from time to time with the Securities and Exchange Commission, including the company's Form 20-F.

Contact:
Company Contact:
Australia & USA
Dr Lee Finniear
Chief Executive Officer
Metal Storm Limited
Ph: +61 7 3123 4700

( MTSX ) ~ Halted...Metal Storm announces update on potential Navy contract; announces it has requested for a trading halt until commencement of trading June 22 (MTSX) 2.17 : Metal Storm (MTSX) says on Nove 17, 2006, it advised the market of a potential contract with the US Navy Space & Warfare Center for the production of one anti-personnel unattended weapons pod system utilising Electronic Ballistic Technology and one operator unit. The co advises that in keeping with the normal contracting processes of the US Navy, it has now received a formal Request for Proposal for this contract. The co will provide its formal response to the US Navy's Request by the due date June 13, 2007. The co also announced it has requested for a trading halt for its securities until commencement of trading Friday, June 22, 2007 pending the announcement to the mkt of a news release concerning recent test firing results and pending Australian issued convertible notes covenants.

Back to $3.00 we go....:)

sweet play benz!! congrats! eom.

agreed....Unlike this gem! I'll take slow, sustained growth any day.

We all live and learn

i see that pos scam sljb.pk finally trading near zero exactly what its worth :))

Yep...And I sit here in silence watching my Portfolio grow.....:)

GLTY

MTSX up big on almost 400% volume - thinly traded

And we just keep slowly climbing....in silence...:)

Metal Storm Limited -- Potential Contract With US Navy


ARLINGTON, VA -- (MARKET WIRE) -- 11/17/06 -- Metal Storm Limited (ASX: MST) an
(NASDAQ: MTSX).



Metal Storm advises that the Space and Naval Warfare Systems Center, San
Diego (SSC-SD) has placed a notice on the US Federal Business Opportunities
website, that it intends to award a Sole Source research and development
contract to Metal Storm for the production of one (1) 40mm anti-personnel
unattended weapons pod utilizing Electronic Ballistic Technology (EBT) and
one (1) operator control unit.

The Chinese Govt. offered 100 million for Metal Storm tech...It was in the Australian papers the other day...The CEO called the Australian DOD to inform..

Company isnt selling...It says its focus is the US military!! Anyone notice the spike yesterday?? A US DOD official said whatever china offers to buy the company, they would beat the offer...

Does that tell you guys anything????

Long term hold!!!

Anyone out there?? LOL!!!