Replies to post #37649 on Liquidmetal Technologies Inc (LQMT)

[Watts Watt]

Liquidmetal Coatings, of course, was one of two divisions of LQMT (Coatings and Bulk Metallic Glass) prior to a spin-off into a subsidiary company. Later, the subsidiary was sold to about 6 partners with a one seventh interest or so ownership being retained by the company, LQMT. Later, Liquidmetal sold its fractional interest to the succeeding investors which included:
John Kang, James Kang, Soo Kang, Ricardo Salas, Jack Chitayat, and possibly Mohamed Abdi and his CFO of Carlyle Group. The truth is, none of all the partners was ever disclosed except for John Kang, himself.

Someone else may have more current or even more accurate information, but, essentially, the control of Liquidmetal Coatings remains under John Kang. Larry Buffington, a Kang appointee, and at one time, one of the Presidents of Liquidmetal (in name only) not mentioned on Watts list of Presidents yesterday, still retains the presidency of Liquidmetal Coatings, based in Texas (two locations).

[ice_n_ak]

http://www.yatedo.com/s/companyname%3A%28%22Liquidmetal%22%29

Hewy Jackson is the one who I mentioned earlier. Since he has not talked with me since the Christmas party where he told me how much money he lost in liquidmetal stock, and that I pieced all the reasons together all by my lonesome, I cannot, nor can he, be subject to any SEC violations.

You see, here where I live in Idaho, it is sparsely populated and everyone knows everything about everyone (neighbors)

As I said earlier, they suddenly decided to move back to Texas, just after he planted a great garden and finished building a brand new home. They sold a brand new tractor, a brand new trailer, a brand new boat, and just a few days ago left without saying goodbye to a whole lot of people.

Very strange. And the question everyone asks around here, "Why?"

What is amazing is the decision for them to move back to Texas came at the same time there was a large insider stock purchase. Coincidence? Maybe. Maybe they hated Idaho and wanted out. Maybe a lot of reasons.

The greedy side of my speculation thinks something is afoot regarding liquid metal, what, I do not know but we all shall see in what I hope is months and not years.

[AliAz]

LiquidMetal Coatings, LLC (LMC): As an LLC they don't have any requirements to share any pertinent info. The exception is filings in the state where they are registered, re ownership. But that isn't necessarily made readily public. Thus the ownership-mix could gave changed a lot since LMC was spun off from LQMT at the end of 2011.

Whats had the low down, but not sure he emphasized the low, low enough.

C3 is a real estate and tech holding/speculation company. It sounds very similar to Carlyle (Mahamedi's firm) in nature.

Looks like John Kang ran out with the best bet for amorphous metal alloy viable business. The business address is Texas.

You can look up C3 Capital Partners yourself. Main office is in Irving, Texas the home of LMC. Here's the link.

https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&ved=0CC8QFjAA&url=http%3A%2F%2Fwww.c3cp.com%2F&ei=rLVSUs-QG42wqQGQqIHgAQ&usg=AFQjCNFKtPXr7IYUP9kLT7MJHBGtvRRxvA&sig2=Tl-GQd203v3GQtJ__mihrg&bvm=bv.53537100,d.aWM

Liquid Metal Coatings 8K 12-2-2011, divestiture of Coatings subsdiary:

Item1.01. Entry Into a Material Definitive Agreement.
On December 20, 2011, Liquidmetal Coatings, LLC (“LMC”), a majority owned subsidiary of Liquidmetal Technologies, Inc. (the Company), entered into a transaction pursuant to which LMC issued and sold additional membership interests (the “Additional Interests”) to third party investors for an aggregate purchase price of $3,000,000 (the LMC Investment). The LMC Investment was entered into pursuant to a Membership Interest Purchase Agreement between the third-party investors and LMC (the Purchase Agreement). The purchase price for the Additional Interests was paid in the form of cash in the amount of $1,727,200 and an interest-bearing note due May 31, 2012 in the amount of $1,272,800. The proceeds from the LMC Investment were used to pay off an existing term loan of LMC in the aggregate principal amount of $403,633.38 and to restructure and extend the term of other indebtedness owed by LMC. The transactions contemplated by the Purchase Agreement were deemed to be effective as of November 30, 2011.

The investors in the LMC Investment were Rockwall Holdings, Inc. (“Rockwall”) and C 3 Capital Partners, L.P. and C3 Capital Partners II, L.P. (the “C3 Entities). The C3 Entities were minority investors in LMC prior to the transaction, and Rockwall is a company controlled by John Kang, a former Chief Executive Officer and Chairman of the Company. As of August 31, 2011, Mr. Kang beneficially owned approximately 7.1% of the Company’s common stock.

In connection with the LMC Investment, the Company and C3 Entities agreed to terminate a letter agreement, dated July 30, 2010, under which the Company would have been obligated to contribute additional capital to LMC if requested by LMC. As a result of the LMC Investment and the termination of such letter agreement, the Company no longer has any contingent obligation to contribute additional capital to LMC. As a result of the LMC Investment, the Company’s equity interest in LMC was reduced from approximately 72.86% to 0.667%. However, the Company did not sell any of its own membership interests in LMC in the transaction. As a result of the reduction in the Company’s percentage interest in LMC, the Company will no longer consolidate LMC’s financial results with the Company’s financial results. In addition, the operations of LMC will be reclassified in prior periods to reflect the discontinuance as of the earliest period presented in the Company ’s future Form 10-K and Form 10-Q filings. LMC represented approximately 31% of the net book value of the Company’s assets and 76% of the net book value of the Company’s liabilities as of September 30, 2011, and LMC represented approximately 92% of the Company’s revenue and operating income that reduced the Company’s operating loss by 21% for the nine months ended September 30, 2011. In connection with the LMC Investment, the Company entered into a Second Amended and Restated Operating Agreement with LMC and other members of LMC, and the Company also entered into a Second Amended and Restated License and Technical Support Agreement (the“License Agreement Amendment)with LMC terminating certain technology cross-licenses between LMC and the Company and continuing LMC’s right to use the Liquidmetal trademark in connection with LMCs business.