It's true, but it's a really wierd system. The bullets are caseless, fired electronically, and aren't in a magazine like we know it. They're packed in tubes that you insert into the barrel, kind of like a break open shotgun. Using the electronic system, you can get variable rates of fire and fire off as many bullets as you want to with one trigger pull. It's a strange system and I don't think it'll ever hit the mainstream, but it's interesting technology. The address to the Metal Storm Weapons website is
http://www.metalstorm-ltd.com/
They don't have much good information on there, but check it out anyways.