Liquidmetal Technologies Inc (LQMT)

[lqmtstock]

I'm really not trying to speak for Watts but I think Watts is saying that the previous sensor effort was undermined by a manufacturing process that generated so much scrap that it wasn't viable.

It's "relevantly irrelevant" at this point, but years ago, I shared the court docs. They were filed in the California courts. The issue he is referring to is during the Kang regime. LQMT was sued because they sold SAGA rusted, bug infested machines - no joke - the Complaint from SAGA actually stated that. And SAGA sued them and LQMT didn't even interpose an Answer, as they didn't have one. They were dead to rights. Any idea how rare that is not even to interpose an Answer? Unless the defendant is completely broke, you at least interpose an Answer so as to provide some basis for settlement, but there was none and LQMT paid in full. Even liable defendants still interpose an Answer. Visser's money was then used to pay the settlement, which is technically shareholder's money because all the rest of us had to pay him back with shares.

It was fraud - plain and simple - committed by the Kang's. They should have been held personally liable now that I think of it, and the directors policy, I would bet, didn't even cover them because it was an act of fraud. Anyhow, they weren't prosecuted criminally because no one gives two sheets about corporate fraud.

Anyhow, it's also why people in the know are surprised SAGA made those molds for the LQMT machine at Engel. If someone screwed you, would you then make something for them or ever want to do business with them again?