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blackbook

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As I have said before how stupid will the Australian Government be if it lets this technology and the potential for hundreds of jobs go only to be taken up overseas when some other country picks up the patents for peanuts - if the company goes under (and I hope not obviously).

 

 

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I don't think it's the responsibility of the government to play the white knight. Imagine the questions been asked if they had started pouring the money in some years ago, hence many millions invested and the share price still languishing where it is. I rather think it's more a damning indictment of the risk aversion of the australian investor. Should metalstorm technology move offshore it will only be one more on a long list of great australian ides that could not find local support. Let's hope this doesn't happen.
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If the govt. can prop up car manufacturers and other industries and pay for infrastructure and subsidise mining interests on the basis that these industries "provide jobs" then it should be able to fund a new industry with a view to providing real jobs, ones that probably will not disappear as soon as there is an economic slowdown. I am aware this probably will not happen though as policitians are full of rhetoric and have no real vision to the future.
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Now there is a novel thought, might be better to go higher and involve the World Bank and the International Humanitarian Fund and the World Council For Overpopulation who I am sure would be interested in keeping down the worlds population with another subsidy and employing a few more people in this vital industry.
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As no doubt many already aware, voluntary administration. News on asx.

 

" The board of Metal Storm Limited (Metal Storm) has today resolved to place Metal Storm in voluntary

administration and appointed Adam Shepard and Adam Farnsworth of Dean-Willcocks Shepard

Recovery & Strategy as Administrators pursuant to section 436A of the Corporations Act.

......

Since the termination of the Umbrella Deed, Metal Storm has been attempting to obtain additional

funding to allow the company to continue operating. However, after considering all of the available

options for Metal Storm and after carefully reviewing the companyÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s financial position, the board has

determined that the appointment of the Administrators is necessary and in the best interests of Metal

StormÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s creditors and shareholders.

 

The board of Metal Storm hope that the company can be successfully restructured though the

voluntary administration process or its business sold as a going concern. The board will assist the

Administrators in any way it can."

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