metal storm ltd owes 20m dollars to mst pty, page-3

One Clip/Intel

The book debts (shown as loans to/from related parties) in regards to MST INC of $21, 384,601 and Procam Machines LLc of $2,482,429, were in fact shown in the annual report prior to the Administration which is no doubt where Pinder sourced it. The Administrator also refers to these in his reports and given MST inc having a net asset deficiency of $16.89m and that Procam Machines having no assets or liabilities and is a non-trading entity he has assigned nil value to them. This is based on both his review and the Directors assessment.

Other than a reference to Linkedin are we sure that Metal Storm INC is trading and employing new staff.