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): June 15, 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 5. Other Events and Regulation FD Disclosure

Metawave Communications Corporation, a Delaware corporation (“Metawave Communications”), has filed its monthly operating report for the month of May 2003 (the “Monthly Report”) with the United States Bankruptcy Court for the Western District of Washington in Case No. 03-11272, portions of which are attached hereto as Exhibit 99.1. The Monthly Report was filed pursuant to Rule 2015 under the United States Bankruptcy Code, in connection with Metawave Communication’s voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code.

The Company cautions readers not to place undue reliance upon the information contained in the Monthly Report. The 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. There can be no assurance that the Monthly Report is complete. 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). 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.

Item 7. Financial Statements and Exhibits


	(c) Exhibits. 99.1 Monthly Bankruptcy Report for the month of May 2003.

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 COMMUNICATIONS CORPORATION (Registrant)

Date: June 18, 2003	By: /s/ Randy Scheer Randy Scheer Vice President of Finance


	INDEX TO EXHIBITS
Exhibit Number	Description
99.1	Monthly Bankruptcy Report for the month of May 2003.

Exhibit 99.1

Metawave Communications Corporation
UST-12, Comparative Balance Sheet
Case Number 03-11272
unaudited


						April 30, 2003	May 31, 2003
ASSETS
	Current Assets
		Cash				2,920,406	2,911,035
		Accounts Receivable (net)				23,722	22,000

		Other Current Assets
			Inventory			239,174	50,000
			Insurance Recovery Receivable			557,027	557,027
			Other Receivables			232,884	188,425
			Prepaid Insurance			77,664	20,551
			Prepaid Legal Expenses			55,000	55,000
		Total Other Current Assets				1,161,749	871,002
	Total Current Assets					4,105,877	3,804,037
		Fixed Assets
		Equipment				176,425	108,336
		Patents				1,040,000	1,040,000
	Total Fixed Assets					1,216,425	1,148,336
	Other Assets
		Rent Deposits				16,732	16,732
TOTAL ASSETS						5,339,033	4,969,104

LIABILITIES AND EQUITY
	Liabilities
		Post-Petition Liabilities
			Accounts Payable
				Post - Accounts Payable		21,761	12,326
				Post - Accrued Legal Expense		311,376	393,298
				Post - Deferred Revenue		569,395	-
				Post - Employee Benefits		11,697	439
				Post - Payroll & Bonus Payable		134,601	32,379
				Post - Taxes Payable		9,708	5,663
		Total Post-Petition Liabilities				1,058,538	444,105

		Pre-Petiton Liabilities
				Unsecured Debt		1,471,494	1,471,494
				Priority Debt
					Employee Benefits	2,667	2,667
					Taxes	586,471	586,471
					Wages	61,060	61,060
				Priority Debt		650,198	650,198
				Secured Debt		472,027	472,027
		Total Pre-Petition Liabilities				2,593,719	2,593,719
	Total Liabilities					3,652,257	3,037,824

	Equity
		Preferred				20,000,074	20,000,074
		Capital Stock				340,460,278	340,460,278
		Opening Bal Equity				(358,773,576)	(358,529,072)
	Total Equity					1,686,776	1,931,280
TOTAL LIABILITIES AND EQUITY						5,339,033	4,969,104

Metawave Communications Corporation
UST-13, Comparative Income Statement
Case Number 03-11272
unaudited


	April 2003	May 2003
Sales	1,654,395	571,887
Cost of Goods Sold	447,923	209,035
Gross Profit	1,206,473	362,852
Other Operating Expenses
Officers' Salaries	126,760	65,562
Other Salaries	75,269	26,117
Employee Benefits/Payroll Taxes	22,314	13,200
Insurance	108,348	57,113
Rent	17,623	8,876
General and Administrative	114,119	90,160
Total Other Operating Expenses	464,433	261,028
Net Operating Loss	742,039	101,824
Other Income	10,821	3,074
Gain on Change in Accounting Estimate - Accrued Warranty Payable	-	-
Gain on Sale of Assets	43,549	139,606
Loss on Change in Accounting Estimate - Insurance Recovery Receivable	(106,281)	-
Gain/Loss from Termination of Lease Agreements	-	-
Net Income	690,128	244,504

METAWAVE COMMUNICATIONS CORP 8-K