chairman's report from annual report

I have just had time to read the Chairman's Report from the Annual Report. I suggest every shareholder read this.

A couple of excerpts:

"company survives on the determination of its staff, its Board and some advisors working for free to achieve the commercial product outcomes that are available to the Company. The constraint for the Company in commercialisation has been capital – not the product or the people but the capital position."

"On the structural side I acknowledge those advisors who put the concept together without payment, my fellow Board members who were active participants in keeping the Company continuing on track despite the adversity of limited funds and our lawyers and auditors who were generous with time and careful billing during this period."

"I do want to single out one of your number. Mr Andrew Doyle provided funding on a number of occasions where without that lifeline the Company would have been lost."

"By the time we meet I hope to be able to announce a cogent set of steps which will mean the value which has been dormant in Metal Storm will be better recognised as real and attainable."

"I again reiterate the Board’s and Executive’s intention to stay the distance and to meet our objective to produce a quality return to our shareholders."

My interpretation:
Metalstorm will go into full commercialisation ASAP and we'll hear the plans at the AGM in a few short weeks. We came right to the brink a number of times, and would have gone over the edge but for the biggest investor for now, AWD.