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): ~~July~~August 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 ~~June~~July 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

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: August 826, 2003 By: /s/ Randy Scheer Randy ScheerVice President of Finance

	INDEX TO EXHIBITS
ExhibitNumber	Description
99.1	Monthly Bankruptcy Report for the month of ~~June~~July 2003.

Exhibit 99.1

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

						May 30, 2003	June 30, 2003
						June 30, 2003	July 31, 2003
ASSETS
	Current Assets
		Cash				2,~~911~~946,~~035~~896	2,~~946~~575,~~896~~017
		Accounts Receivable (net)				22,000	2221,~~000~~700
		Other Current Assets
			Inventory			50,000	5010,000
			Insurance Recovery Receivable			557,027	557,027
			Other Receivables			~~188~~185,~~425~~589	~~185~~156,~~589~~381
			Prepaid Insurance			20,551	2049,~~551~~300
			Prepaid Legal Expenses			55,000	~~55,000~~-
		Total Other Current Assets				~~871~~868,~~002~~167	~~868~~772,~~167~~708
	Total Current Assets					3,~~804~~837,~~037~~062	3,~~837~~369,~~062~~424
		Fixed Assets
		Equipment				~~108~~40,~~336~~000	4030,000
		Patents				1,040,000	1,040,000
	Total Fixed Assets					1,~~148~~080,~~336~~000	1,~~080~~070,000
	Other Assets
		Rent Deposits				166,~~732~~800	6,800
TOTAL ASSETS						4,~~969~~923,~~104~~862	4,~~923~~446,~~862~~224
LIABILITIES AND EQUITY
	Liabilities
		Post-Petition Liabilities
			Accounts Payable
				Post - Accounts Payable		127,~~326~~343	76,~~343~~957
				Post - Accrued Legal Expense		~~393~~464,~~298~~862	~~464~~206,~~862~~426
				Post - Deferred Revenue		-	-
				Post - Employee Benefits		~~439~~2,673	~~2,673~~634
				Post - Payroll & Bonus Payable		3226,~~379~~834	2635,~~834~~084
				Post - Taxes Payable		5,663	~~5,663~~-
		Total Post-Petition Liabilities				~~444~~507,~~105~~374	~~507~~249,~~374~~101
		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,~~037~~101,~~824~~093	32,~~101~~842,~~093~~820
	Equity
		Preferred				20,000,074	20,000,074
		Capital Stock				340,460,278	340,460,278
		Opening Bal Equity				(358,~~529~~637,~~072~~582)	(358,~~637~~856,~~582~~948)
	Total Equity					1,~~931~~822,~~280~~769	1,~~822~~603,~~769~~404
TOTAL LIABILITIES AND EQUITY						4,~~969~~923,~~104~~862	4,~~923~~446,~~862~~224

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

	May 2003	June 2003
	June 2003	July 2003
Sales	~~571,887~~-	-
Cost of Goods Sold	~~209,035~~-	-
Gross Profit	~~362,852~~-	-
Other Operating Expenses
Officers' Salaries	6554,~~562~~207	5459,~~207~~198
Other Salaries	2615,~~117~~344	1520,~~344~~944
Employee Benefits/Payroll Taxes	~~13,200~~88	885,414
Insurance	~~57,113~~-	-
Rent	89,~~876~~001	9,~~001~~011
General and Administrative	9076,~~160~~666	76125,~~666~~740
Total Other Operating Expenses	~~261~~155,~~028~~306	~~155~~220,306
Net Operating Loss	~~101~~(155,~~824~~306)	(~~155~~220,306)
Other Income	31,~~074~~216	~~1,216~~850
Gain on Change in Accounting Estimate - Accrued Warranty Payable	-	-
Gain on Sale of Assets	~~139~~15,~~606~~510	~~15,510~~90
Loss on Change in Accounting Estimate - Insurance Recovery Receivable	-	-
Gain/Loss from Termination of Lease Agreements	-30,069	~~30,069~~-
Net Income(Loss)	~~244~~(108,~~504~~511)	(~~108~~219,~~511~~365)

Filing Compare · METAWAVE COMMUNICATIONS CORP