After having the debate about this last release on EOD/IED and it relating to a technicians tool box and tools,I will tell you this.
I don't for one minute buy that this was for Technicians toll boxes! What gives me the utter S**ts is all the secrecy surrounding anything from the US regarding anything to do with MST.
Here is what it really relates to in my opinion, you will note there are some references to EOD/IED in some of the links but I could not find them, you will also note that in the CEO report from Lee in 2007 it stated that there was a mention of a graphic being included which it definately was not! "Details of the presented design are shown in the graphic below"
CEO BULLETIN Brisbane, AUSTRALIA 5 March 2007: Metal Storm Limited (ASX trading code: MST and NASDAQ ticker symbol: MTSX).
Army EOD Metal Storm engineering has completed the preliminary design for a multiple shot disrupter to counter Improvised Explosive Devices (IED) missions under a sole source, fixed price contract from the U.S. Army. On January 29th, a design review was held with Metal Storm and Government representatives. Details of the presented design are shown in the graphic below. The success of this preliminary design effort is expected to lead to a follow on effort where design details will be finalized and proof guns and munitions will be fabricated. ------------------------------------------------------------ This is also in the same CEO release you will also note these timelines have slipped!
NOW up to June 30 2007 Meet the performance and financial requirements of the agreement with the Convertible Note Holders NEXT July 1 2007 to June 30 2008 commercialise 3GL and RedbackTM systems for delivery. Make first volume product sales and substantially increase the scale of US Government contract business AFTER NEXT July 1 2008 to June 30 2010 Rapidly expand product sales, move additional weapons systems to commercialisation, significantly improve revenue and net income. ----------------------------------------------------------- Here are some of the links that also mention EOD/IOD but when you look they can't be seen in some cases?
Metal Storm Weapons Participate in UGV Live-Fire Scenario ... 12 Mar 2010 ... This footage is now being made available on the Metal Storm website. ... Cyber Defence Engines / Power / Fuel EOD / IEDs / Mines Helicopters ... at http://www.metalstorm.com/release/MS_US_Navy_Mar_2010_Video.html ... www.asdnews.com/.../Metal_Storm_Weapons_Participate_in_UGV_Live-Fire_Scenario.htm - Cached
METAL STORM LTD /ADR/ (Form: 6-K, Received: 04/24/2008 09:31:30) US Army Design of IED Disruptor round for use in multi-shot stacked EOD launcher ...... Email Address: [email protected]. (METAL STORM LOGO) ... google.brand.edgar-online.com/EFX_dll/EDGARpro.dll?...?ID...
And I wasn't aware that Metal Storm Inc will be controlled by mst employees in the US?
The structure of Metal Storm Inc. allows the Company to bid directly on US defence projects such as the Small Business Innovation Research (SBIR) program as the prime contractor, thus enabling revenue flows directly into the Company. To be compliant with the requirements of the US Department of Defense, it was necessary to create Metal Storm Inc. as a 49% owned entity by Metal Storm Limited, and place the other 51% in trust for the benefit of Metal Storm Inc.s US resident employees.
So does that mean that even if we do get to sell something to the US eventually? only 49% of any profits will end up in Metalstorms hands? isn't that you and I? Well after paying off the debt and all other costs and overheads, it won't leave much to divide amongst those billion shares and growing each day, so the loaf of bread just got smaller!
MST Price at posting:
1.5¢ Sentiment: None Disclosure: Held
