Metal Storm Limited, incorporated in April 1994, is a defense technology company, which is working with government agencies and departments, and the defense industry to develop weapons systems utilizing the Metal Storm non-mechanical, electronically initiated stacked projectile technology. Its principal focus is on the 40-millimeter category of weapons and munitions. The Company operates through its subsidiaries, which include Metal Storm Inc., Metal Storm USA Limited and ProCam Machine LLC. The Company is in a development phase as it transitions its technology from proof of concept to product implementation. Metal Storm is engaged in a concentrated period of engineering work that involves several cycles of building and testing of different configurations to generate prototype products to customer specifications (in some cases) for trial and demonstration. Metal Storm's core technology is an electronically initiated, stacked projectile launching system that removes the mechanisms and shortens the time normally required to fire projectiles by conventional means. Metal Storm enabled systems are capable of local or remote operation through a computerized fire control system. Metal Storm has formed key product development and business development relationships with a number of organizations with expertise in key areas that complement the Metal Storm technology. These include Singapore Technologies Kinetics (ST Kinetics) and the United States Army Armament Research and Development Engineering Center (ARDEC) for munitions development, and Electro Optic Systems Holdings Ltd (EOS) for turreting, target acquisition and aiming systems. On September 2, 2005, the Company announced that the United States Army's Armament Research, Development and Engineering Center (ARDEC) has selected the Company's Small Business Innovative Research (SBIR) Phase II proposal titled Metal Storm Crowd Control System. On September 23, 2005, the Metal Storm Limited announced that its subsidiary, Metal Storm, Inc has signed an agreement with the United States Army to develop and adapt munitions for use with Metal Storm 40 millimeter weapons systems.

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