australian media

An example of why people who allow main stream corporate media outlets to shape their opinion are often wrong. The total sum of all Aussie media reporting for the last few weeks;

The Australian: Of the scores of companies that appear to be on life support, at least one -- defence technology firm Metal Storm -- seems destined for the corporate scrapheap.

The company told shareholders that it had posted a $2.6m half-year loss and that it expected its cash reserves to expire within just a few weeks. "In the absence of a cash injection prior to September 22, 2011, the company would cease to be a going concern," it said.

Sydney Morning herald: DICKENSIAN TALE

It was difficult to gauge yesterday whether the chairman and founder of the cash-strapped ballistics developer Metal Storm was in fact a half glass empty or a half glass full type of guy.

''The company expects to remain solvent but that expectation may not be met,'' Terry O'Dwyer said in his address to a Metal Storm shareholder meeting. ''Accordingly, there is a risk the company might become insolvent and may therefore need to act appropriately within the law as circumstances dictate quite quickly.''

O'Dwyer's comments came after the company, which develops fast-firing weapons, saw its accumulated losses climb above the $110 million mark this year.

''As a Dickens character famously said, 'This is the best of times, this is the worst of times,' so it is at the moment for Metal Storm,'' O'Dwyer told the meeting.

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No mention of usmc, force protection, $1mil cash, tax credits from accumulated loses, Colt, Taser, Canada and so on.

Superficial and meaningless reporting comes to mind