chairman's report from annual report, page-2

Over the years I've done a lot of reading between the lines with MST, but there is much to be pleased about with TOD and Lee's comments.

Especially re Colt.

Interesting that, since the original announcement we have heard nothing, yet far from it being a negative, we learn that the relationship has been consolidated to the point where Colt have spent considerable resources in time, money and personnel, "conducting a comprehensive engineering production analysis of the MAUL weapon system, delivering a very detailed cost, production and engineering breakdown of how the weapon would be manufactured. The outcome confirmed the weapon was financially attractive to build and could be effectively manufactured in volume."

I guess they wouldn't do it if they weren't interested in securing the rights to MAUL. Meanwhile BAE continues work on MAUL and 3GL non-letahl ammunition. Guess they wouldn't do this if they weren't interested....

"The fact is, that the company has a solution to many of the problems of safe, consistent and sensible delivery of effective non-lethal force with a potential for financial returns to investors well in excess of the norm."

NEXT step would seem to be to finalise the financial restructuring to the satisfaction of all concerned then move into initial production.....

BTW, Peter Doyle, if you read HC at all, thanks.