Metal Storm Limited was a research and development company based in Brisbane, Australia that specialized in electronically initiatedsuperposed load weapons technology and owned the proprietary rights to the electronic ballistics technology invented by J. Mike O'Dwyer.Metal Storm represented both the name of the company and the technology.
Metal Storm Limited went in to receivership on 26 July 2012 after much international interest.
The following is an extract from The Australian from 27 July2012 about Metal Storm.
METAL Storm had a gun that was going to revolutionise warfare, capable of shooting several thousand rounds a second, and all the Gold Coast-based company claimed it needed was investors to help bring this wonderful new technology to the attention of military authorities in Australia and the US.
In the late 1990s and early 2000s, small investors piled in to Metal Storm, but despite the company's employment of former admirals and generals to push its products to Pentagon officials in Washington, it never came close to replicating the $3.50 it traded at when it listed on the ASX in 1999.
Metal Storm finally went into receivership yesterday, after announcing on Monday that a supposed white knight from Luxembourg had failed to tip $4.65 million of new equity into the company to cut debt and provide working capital for the weapons development program.
Investors who were unable to get out of the company yesterday found their shares were worth one-tenth of a cent.
Metal Storm's problem was that it never had strong institutional support.
Their website no longer exists. The WIkipedia article is here.