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Since both their previous mechs were essentially outclassed by two thirds of their rival's stock, OM decided the proper solution was missiles. Using the basic frame of the 03 they increased the size of the mech and gave it lots of Long Range Missiles to back up the maneuverability of the frame. Not only did this greatly increase the firepower they could sell to the government but it was also a rather inexpensive project since it grew from their previous work. For the second run of their mech OM they cut their costs by improving their armour design.
(Update 1: I have changed the appearance slightly, and increased the size a little)
(Update 2: I have changed the stand to 1in, curled the feet to grasp it, and fixed an issue with the right leg)