Smart Gun Update...

Following discussions with project partners the New Jersey Institute of Technology (NJIT) and Taurus International, Metal Storm Limited has revised the development timetables for its two handgun projects – the ‘Personalised Smartgun’ and ‘Electronic Handgun’. The development timetable for the Personalised Smartgun has been adjusted following the NJIT’s recent announcement that its dynamic grip recognition technology, which is core to the project, will not be ready for integration with Metal Storm’s technology until January 2006. Revised estimates of the time required for all parties to complete product engineering and obtain regulatory approvals means that a marketable ‘Personalised Smartgun’ product is unlikely to be available until at least late 2007. It was previously estimated that revenues from this product would commence in 2006. Metal Storm and NJIT have committed to negotiate a new collaborative memorandum of understanding for the development of the ‘Personalised Smartgun’, which will replace the previous memorandum that expired in November 2004. This is expected to be finalised in the next 3 months. Taurus International has also indicated its continued commitment to participate in the production and distribution of the ‘Personalised Smartgun’ once the product has reached an appropriate level of maturity for commercialisation. The ‘Electronic Handgun’ project shares some common development work with the ‘Personalised Smartgun’. It is therefore contingent on similar regulatory approvals and its development timetable will also be affected. Metal Storm is exploring other opportunities for its ‘Electronic Handgun’ technology, including licensing it to a third party organisation.

I am not pleased that Taurus is getting involved with this, although it's good that the project was delayed again.

The New Jersey Law 24. (New section) a. On and after the first day of the sixth month following the preparation and delivery of the list of personalized handguns which may be sold in the State pursuant to section 3 of P.L. , c. (C. ) (now pending before the Legislature as this bill), no person registered or licensed by the superintendent as a manufacturer, wholesale dealer of firearms, retail dealer of firearms or agent or employee of a wholesale or retail dealer of firearms pursuant to the provisions of N.J.S.2C:58-1 or N.J.S.2C:58-2 shall transport into this State, sell, expose for sale, possess with the intent of selling, assign or otherwise transfer any handgun unless it is a personalized handgun or an antique handgun.

ALL firearms dealers will go immediately out of the handgun business if all they can sell, etc, are these smart guns. Selling or transferring a handgun will become problematical at best...Jersey already frowns on personal sales, and any purchase I try to make out of state will be colored by the laws in NJ. Usually out of state purchases are OK if they are legal in your own state...and conventional handguns would no longer be legal in NJ. When this gets close, I hope it goes to the Supreme Court. Me, I'll be out of Jersey by then.

This just in today...more New Jersey Moonbattery - No Anonymous Posts on Forums.