please urgently write to asic

URGENT
Hi all, it's been a while, hope you are all well. I have been following MST things very closely and wish to draw attention to a few simple KISS matters that ARE CRITICAL at this time.

1. Bottom line is that the current regime controlling Metal Storm (replacing the old Directors, who BTW did not call in the Administrators themselves) have now presided over a situation where we are effectively missing 1 going on 2 AGM's, and 2 full years (2012, 2013) of audited accounts. These omissions are completely unacceptable in terms of Corporations Law, irrespective of other distractions, including delisting from ASX, lack of transparency, and so on. The new regime of the Company have NEVER held an AGM, or audited ANYTHING. Go figure if this behaviour is deserving of support from ASIC or anyone else?

2. The May 2012 AGM was the last one held (which was under the old Directors), and as per normal, presented the previous year 2011 audited accounts.

3. The new regime of the Company did appear to introduce delay tactics by writing to ASIC in October 2013, applying for an extension to hold the (missing) 2013 AGM, and this was granted until 30 April 2014. At the time ASIC also required the audited books associated with the 2013 AGM will need to be presented by 22 days before the proposed date of the delayed 2013 AGM e.g. if the AGM was to be held on the last possible day 30 April, then the associated audited books would be due by 8 April at the latest.

4. It is critical to note that any AGM presents audited accounts for the previous financial year. So 2013 AGM 'allegedly' now to be held by April 2014, is actually only required to present the 2012 audited accounts. Meanwhile the 2014 AGM is then normally due in May 2014, (a lousy month later) and that would need to present the 2013 audited accounts.

5. This post is not about an avalanche of arguable distractions (power struggles) in the MST recent history. Make no mistake, that will unfold in due course, and ASIC are already well aware of them. Meanwhile it is obviously reasonable to assume ASIC's interest is in stewardship of MST under the legislation they control, and is separate to the matters of the current Court case.

6. So this post is about YOU please doing something tangible to HELP by contacting ASIC today (NOW) to state that you would STRONGLY OBJECT TO ANY POSSIBLE FURTHER MST EXTENSIONS FROM ASIC, SHOULD THEY BE REQUESTED BY THE CURRENT REGIME. Read Point 1 again - enough is enough.

7. Whatever you may think will ultimately happen with control of Metal Storm, IMHO it is extremely relevant to a fair outcome RIGHT NOW that as many shareholders and wider Noteholders as possible contact ASIC RIGHT NOW to express their objections to any further extensions should they be requested by the current regime. I hope you can agree that any regime (no matter who they are) just cannot be allowed to continue to flout their formal obligations and responsibilities, including the lack of transparency that has been going almost 2 years now!

8. You can contact the corporate regulator Australian Securities Investment Commission ASIC off their website:

https://www.edge.asic.gov.au/008/complaintV007?get/complaintDetails/t=4d69e87f32cce6b93cd6db5c39fad583dde871

Frankly that process may be a little awkward for some (ASIC doesn't have a direct 'generic' email) so it may be easier to arrange to fax 03-51773999 a handwritten or typed letter direct. Your letter should be headed 'URGENT - Metal Storm Limited'. Snail mail is to GPO Box 9827, Sydney NSW 2001.

Again, your letter is all about focussing on a narrow but critical component of the current big picture - NO MORE ASIC EXTENSIONS OF TIME. I strongly and respectfully encourage all fair-dinkum shareholders and noteholders to action this today, this weekend, or ASAP. I suggest it is a 'numbers writing' thing, and your contact is equally helpful even if it is only a few lines like Point 1 above.

9. It would be very encouraging if you guys could then briefly post here, confirming that you have written to ASIC (now or in the past) on this important matter. Thanks very much, and good luck.