SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549

FORM 8-K

Current Report Pursuant to Section 13 or 15(d)of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): ~~January~~April 3115, 2003

Metawave Communications Corporation
(Exact name of Registrant as specified in its charter)


Delaware	0-24673	91-1673152
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(I.R.S. Employer Identification No.)

15231 NE 95th Street
Redmond, WA 98052
(Address of principal executive offices)(zip code)

(425) 702-5600
(Registrant's telephone number, including area code)

Item 35. BankruptcyOther orEvents Receivership.and Regulation FD Disclosure

On Metawave Communications ~~January 31~~Corporation, ~~2003,~~a ~~Metawave~~Delaware corporation (“Metawave Communications” ~~Corporation~~or (the "Company"), has filed aits ~~voluntary~~monthly ~~petition~~operating report for ~~relief~~the ~~under~~month ~~Chapter 11~~ of February ~~the~~2003 ~~United States Bankruptcy Code~~ (the ~~"Bankruptcy~~“Monthly ~~Code"~~Report”) inwith the United States Bankruptcy Court for the Western District of Washington ~~(the~~in ~~"Bankruptcy Court") (~~Case No. 03-11272)., ~~The~~portions ~~Company~~of which ~~will~~are ~~continue~~attached tohereto ~~manage its properties and operate its businesses~~ as ~~"debtor-in-possession"~~Exhibit ~~under~~99.1. ~~the~~The ~~jurisdiction~~Monthly ofReport ~~the~~was ~~Bankruptcy~~filed ~~Court~~pursuant to ~~and~~Rule in2015 ~~accordance~~under ~~with~~ the ~~applicable~~United ~~provisions~~States ~~of the~~ Bankruptcy Code~~. On January 31~~, ~~2003,~~in ~~the~~connection ~~Company~~with Metawave ~~issued~~Communication’s avoluntary ~~press~~petition ~~release~~for ~~relating~~relief tounder ~~the~~Chapter ~~foregoing.~~11 ~~A copy~~ of the ~~release~~United isStates ~~attached~~Bankruptcy ~~hereto as Exhibit 99~~Code.1 ~~and is incorporated in its entirety herein by reference.~~

~~Item~~ The Company 5cautions readers not to place undue reliance upon the information contained in the Monthly Report. ~~Other~~The ~~Events~~Monthly Report contains information that has not been audited or reviewed by independent accountants, is limited in scope, covers a limited time period and is in a format prescribed by the applicable bankruptcy laws, which does not represent financial information in accordance with generally accepted accounting principles. Opening amounts on the UST-12, Comparative Balance Sheet were established as estimated recoverable values and estimated claims payable at the time of the Company's bankruptcy filing (January 31, 2003). There can be no assurance that the Monthly Report is complete. The Monthly Report also contains information for periods different from those contained in the Company’s reports pursuant to the Securities Exchange Act of 1934, as amended. The Company undertakes no obligation to update or revise the Monthly Report.

On January 31, 2003, the Company also announced that effective upon the filing of the petition for Chapter 11, the following members of the Company's Board of Directors have resigned: David Hathaway, David Twyver, Robert Hunsberger, Scot Jarvis and Douglas Reudink. The two remaining members of the Board of Directors are Bandel Carano, General Partner of Oak Investment Partners, and Gary Flood, Chief Executive Officer of Metawave. The Company also announced that it has requested to have its common stock delisted from the Nasdaq SmallCap Market. Metawave's common stock will stop being electronically traded on the Nasdaq SmallCap Market after the close of trading on February 5, 2003.

Item 7. Financial Statements and Exhibits

SIGNATURES

Pursuant to the requirements of the Securities Exchange act of 1934, as amended, the
Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.

METAWAVE COMMUNICATIONSCORPORATION(Registrant) Date: ~~February~~April 422, 2003 By: /s/ ~~Gary~~Randy S.Scheer ~~Flood~~Randy ~~Gary~~ScheerVice S.President ~~FloodChief~~of ~~Executive Officer~~Finance

	INDEX TO EXHIBITS
ExhibitNumber	Description
99.1	~~Press~~Monthly ~~Release~~Bankruptcy ~~dated~~Report ~~January~~for ~~31,~~the month of March 2003.

~~FOR~~ Exhibit ~~IMMEDIATE RELEASE~~99.1

Metawave ~~Contact: Loan~~Communications D.CorporationUST-12, ~~Gordon Metawave~~Comparative ~~Communications~~Balance Sheet ~~Tel:~~Case ~~(425)~~Number ~~702~~03-~~9349 loan.gordon@metawave.com~~11272unaudited

Metawave Files Petition for Chapter 11 Company requests delisting of common stock from Nasdaq; moves corporate headquarters to new location in Redmond


						February 28, 2003	March 31, 2003
ASSETS
	Current Assets
		Cash				508,478.79	730,240.19
		Accounts Receivable (net)				147,810.63	19,848.66

		Other Current Assets
			Inventory			427,097.00	427,097.00
			Insurance Recovery Receivable			813,308.22	663,308.22
			Travel Advances			183.24	-
			Other Receivables			251,818.59	225,601.86
			Prepaid Insurance			299,581.22	188,622.64
			Prepaid Legal Expenses			55,000.00	55,000.00
		Total Other Current Assets				1,846,988.27	1,559,629.66
	Total Current Assets					2,503,277.69	2,309,718.51
		Fixed Assets
		Equipment				203,500.00	203,500.00
		Patents				1,300,000.00	1,300,000.00
	Total Fixed Assets					1,503,500.00	1,503,500.00
	Other Assets
		Rent Deposits				47,427.50	38,640.50
TOTAL ASSETS						4,054,205.19	3,851,859.01

LIABILITIES EQUITY
	Liabilities
		Post-Petition Liabilities
			Accounts Payable
				Post - Accounts Payable		26,736.88	12374.17
				Post - Accrued Legal Expense		1000,000.00	200,000.00
				Post - Employee Benefits		81.33	6,512.68
				Post - Payroll & Bonus Payable		-	40,260.66
				Post - Taxes Payable		21,765.74	1,322.10
		Total Post-Petition Liabilities				148,583.95	260,469.61

		Pre-Petiton Liabilities
				Unsecured Debt		1,471,494.10	1,471,494.10
				Accrued Warranty Payable		250,000.00	-
				Priority Debt
					Employee Benefits	2,667.02	2,667.02
					Taxes	586,471.15	586,471.15
					Wages	61,059.76	61,059.76
				Priority Debt		650,197.93	650,197.93
				Secured Debt		478,237.08	473,049.76
		Total Pre-Petition Liabilities				2,849,929.11	2,594,741.79
	Total Liabilities					2,998,513.06	2,855,211.40

	Equity
		Preferred				20,000,073.80	20,000,073.80
		Capital Stock				340,460,277.78	340,460,277.78
		Opening Bal Equity				(359,366,979.45)	(359,366,979.45)
	Total Equity					1,055,692.13	996,647.61
TOTAL LIABILITIES EQUITY						4,054,205.19	3,851,859.01

Metawave ~~REDMOND,~~Communications ~~Wash. – January 31~~CorporationUST-13, ~~2003~~Comparative –Income ~~Metawave® Communications Corp. (NASDAQ: MTWV) today announced that it has filed a voluntary~~Statement ~~petition~~Case ~~for~~Number ~~protection~~03-11272 ~~under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court in the Western District of Washington and will undertake an orderly liquidation of the Company´s assets.~~unaudited

Effective upon the filing of the petition for Chapter 11, the following members of the Company´s Board of Directors have resigned: David Hathaway, David Twyver, Robert Hunsberger, Scot Jarvis and Douglas Reudink. The two remaining members of the Board of Directors are Bandel Carano, General Partner of Oak Investment Partners, and Gary Flood, Chief Executive Officer of Metawave.


	Feb 03	Mar 03
Sales	22,903.00	-
Cost of Goods Sold	22,903.00	-
Gross Profit	-	-
Other Operating Expenses
Officers' Salaries	49,230.78	69,627.13
Other Salaries	30,698.62	52,503.78
Employee Benefits/Payroll Taxes	46,397.81	9,780.49
Insurance	111,064.83	110,958.58
Rent	12,800.50	9,057.00
General and Administrative	133,355.25	126,294.15
Total Other Operating Expenses	383,547.79	378,221.13
Net Operating Loss	(383,547.79)	(378,21.13)
Other Income	19,662.73	19,176.61
Gain on Change in Accounting Estimate - Accrued Waranty Payable	-	250,000.00
Loss on Change in Accounting Estimate - Insurance Recovery Receivable	-	(150,000.00)
Loss from Terminatation of Lease Agreements	(2,660,000.00)	(200,000.00)
Net Loss	(3,023,885.06)	(59,044.52)

The Company also announced that it has requested to have its common stock delisted from the Nasdaq SmallCap Market. Metawave´s common stock will stop being electronically traded on the Nasdaq SmallCap Market after the close of trading on February 5, 2003.

“To date, we have been unable to recover losses sustained from the business interruption relating to the fire that destroyed our Taiwan manufacturing facility in May 2001,” said Gary Flood. “As a result, in December 2002, we filed suit against our insurance carrier and broker. Our efforts to mitigate the adverse effects of this lack of payment were unsuccessful. We have worked very hard to maximize efficiencies and minimize operating expenses during a time when telecommunications capital spending has been extremely slow. Our efforts to explore business opportunities and secure equity financing were also unsuccessful. As part of our goal to maximize assets available to creditors, we intend to vigorously pursue the claim for business interruption coverage against St. Paul Fire and Marine Insurance Company and Woodruff-Sawyer and Company.”

On December 10, 2002, Metawave filed suit in California Superior Court in San Francisco against St. Paul Fire and Marine Insurance Company and Woodruff-Sawyer and Co., alleging breach of contract, breach of the covenant of good faith and fair dealing, negligent misrepresentation and professional negligence in the defendants´ underwriting and claims administration process surrounding Metawave´s claim for business interruption coverage arising from the fire in its Taiwan factory in May 2001. The suit seeks both actual and punitive damages, as well as all costs of the suit.

As previously announced and under the supervision of the U.S. Bankruptcy Court, the Company will sell its assets, including its patent portfolio and other intellectual property assets, finished products, services operation, inventory and capital equipment. Based on the Company´s outstanding liabilities and the $20 million liquidation preference on its outstanding Series A Preferred Stock, the Company does not expect that there will be any proceeds available for distribution to holders of its Common Stock.

As of February 3, 2003, Metawave´s new corporate office will reside at the following address.

Metawave Communications Corporation 15231 NE 95th Street Redmond, WA 98052 USA Tel: (425) 702-9349 E-mail: info@metawave.com

# # #

Metawave® is a registered trademark of Metawave Communications Corporation.

Except for the historical information presented, the matters discussed in this press release contain forward-looking statements within the meaning of Section 21(e) of the Securities Exchange Act of 1934 that involve risks and uncertainties that could cause Metawave´s actual results to differ materially from those contained in such forward looking statements. Accordingly, you should not place undue reliance on these forward-looking statements, which apply only as of the date of this press release. Metawave may not be able to find qualified buyers for its assets at prices necessary to generate cash to satisfy its current and future obligations. Metawave may not be able to negotiate the orderly wind down of its obligations to creditors. Under the U.S. Bankruptcy Code, significant risks and uncertainties will exist with respect to the Company´s ability to control the outcome of the wind down of its operations and the Company´s ability to determine the distribution of proceeds from sales of its assets. Furthermore, because many of Metawave´s assets will decline in value over time, Metawave may not be able to consummate the sale of these assets in time to generate meaningful value and it is unlikely that Metawave will be able to make any distribution to its common shareholders.

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