spp, page-11

You've been warned by the company:

11/05:

The company has been working through the issues associated with
raising additional capital and dealing with the convertible note debt.
Metal Storm needs further funds to continue the progress which
has brought it within sight of the commercialisation of a number of its
weapons and 40mm munitions.
Without a capital injection, the company will exhaust its
resources in about four months.
The maturity date of the notes is 1st September 2009 and the
company is then liable to repay its note holders approximately $20
million, unless the note holders opt to convert all their notes into
ordinary shares, or agree to extend the maturity date.
At the current share price and in the context of the current
equities markets, it seems unlikely that a substantial number of notes
will be converted to ordinary shares.
In that circumstance the note holders will be in a position to
appoint an administrator who will deal with the company's assets.
For some time the board has been pursuing a major capital raising
and seeking other sources of equity.
Several of those opportunities are advancing but there is no
certainty about any funding and there is a strong chance that any major
capital raising will not conclude before 31st August 2009.