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Gary, how do you view the fact that the units are priced at $4.13 - the equivalent of $2.065 pre-split - and the warrants exercisable at $4.00 - the equivalent of $2.00 pre-split ?
The final offering results in Sigma realizing about $2.5 to $3M less than what was anticipated in the original filing.
How will this effect the company's plans to retire debt, buy 3 printers and provide for future expenses?
The $700 K is for payments due in 2017 for previously announced contracts. That is not necessarily the same as projected or anticipated revenues for 2017. They have 10.5 months to secure new contracts and additional revenues for 2017
Gary,
I'm sure you have a lot of questions for Mark in your forthcoming Q&A.
In addition to the obvious ones about contracts, revenues, relationship with GE, Honeywell and others, I have wondered why the original Arete partnership never got off the ground. It was to be run by Bill Herman, a former GE employee.
The fact that Herman apparently defaulted concerns me. Did he bail because he ultimately ascertained that GE was in fact not "in lockstep" with Sigma? Was the failure of Arete a signal that GE was not going to use SGLB's technology?
I look forward to your report.
Thank you.
It is very nice of you to spend so much time on this board and to share your thoughts when you apparently are not an investor in Sigma and obviously have such disdain for the company, its management, its products and its prospects.
Thank you so much. It is exceedingly generous and thoughtful of you to unselfishly devote your time and efforts to enlightening this board about what you regard as a failing enterprise.
Well then, why do you think Cola would call for another reverse split?You introduced the hypothesis.
What in your mind would be the purpose of a reverse split when the stock is above $3.00 a share?
Thank you, Z. We appreciate the details.
The options listed in that document are obviously prior to the 1/100 reverse split.
It is my understanding that when vested the 47,500 shares and the 10,000 shares (both adjusted for the split) are exercisable at $5.90 per share (the market price at the close on the date the options were granted - August 10, 2015).
Again, for the benefit of all, I hope Ron ultimately realizes a big, big profit when he exercises these options.
Ron Fisher was hired as VP for Business Development on August 10, 2015.
His employment agreement enables him to earn certain bonuses if certain objectives are realized within 18 months of his employment.
It is my recollection that the incentive bonuses are tied to sales of PR3D to GE and Honeywell. Does anyone on this board recall the specific details?
In any event, the 18 month qualifying period, unless amended, would end on February 10 - two weeks from this coming Friday.
Obviously things change over a period of time, but it is interesting that in August 2015 both Mark and Ron thought there was a good chance contracts would materialize with GE and Honeywell by early 2017.
I guess we'll soon know if their expectations will be met. For Ron's sake - and also for the sake of Mark and all investors in Sigma - I hope Ron qualifies and collects.
Alan, I appreciate your perspective on investing in general and on Sigma Labs in particular, but I am confused about your post on January 17.
Who are you referring to when you say "We already have several of our newer board members with strong technical and financial backgrounds that have failed to contribute a thing"?
Prior to the appointment of Sam Bell and Frank Garofalo as directors on January 17, the company had three directors - not several.
The three were Mark Cola, Michael Thacker and Thomas O'Mara. Thacker was appointed in May 2012 and O'Mara in October 2013.
Who are the "several" and "newer" board members to whom you refer?
Is Materialize presently offering any quality assurance measures in their Streamics software?
How do you think the recently announced collaboration between Materialize and Siemens affects Sigma's prospects?
Was the failure of Arete a sign that GE was no longer in "lock step" with PR3D? Was there ever any explanation from Mark as to why the joint venture with the former GE employee never got off the ground?
Wasn't Mark asked about Materialize in the 3Q call in November?
Do you know when Vivek sold and how many shares he had?
It is somewhat disconcerting that Vivek sold given his major involvement in the development of Sigma. Do you think he simply "threw in the towel" or did he have other reasons for selling his stake?
Does anyone know the story as to why Arete, the joint venture with the former GE employee, failed?
It is my recollection that a former GE employee was to head up the venture and arrange for additional machines to be installed at Sigma's office for contracting purposes.
Not long thereafter, Mark announced that the joint venture had been terminated.
Just wondering if there is any link between that failed venture and the ongoing relationship (?) between SGLB and GEA.
GR1D,
Thank you for your response. I always appreciate your well reasoned views.
I should have added that I certainly do not think Mark deliberately mislead SGLB investors. He missed the mark on his projections and expectations, and we can criticize his judgment but not his motive.
I'm sure Mark has been more disappointed than anyone. It is his company and his reputation. More importantly he is the largest individual shareholder. He has far more to gain - and far more to lose - than any of us.
I'm left with the impression that Mark has thought for some time that major contracts were imminent. When he now says it may not be for another 14-26 months (2018), I have the feeling he is now being overly cautious and taking a safe route.
I think SGLB will surprise with major announcements of sales well before 2018.
Is it plausible to think that perhaps Mark Cola has changed course and decided to become more guarded or conservative in his comments since his earlier projections failed to materialize?
As everyone we'll knows, when Mark announced the reverse split he apparently anticipated that contracts and revenue would soon support an uplisting to the NASDAQ.
Again when the S1 was filed it was with Sigma's expectation that major contracts were near at hand.
And in the conference calls and earnings reports for 1Q and 2Q, Mark again indicated that revenues would likely increase in the 2H of the year.
Obviously in all these cases the projections by Mark were far too optimistic and failed to materialize to the detriment of the PPS and the company's shareholders.
It now appears Mark is becoming very cautious and conservative in his forward looking statements so as to avoid missing the mark again.
Until recently Mark has clearly expected a significant increase in orders for PR3D. Is it now realistic to change course and not expect any market for the product until 2018? Or is this a case of Mark preferring to play it safe and have upside surprises which will move the stock as opposed to the negativism that arises when hopes and projections fall short as they have.
Does anyone on this board know if PrintRite3D been imbedded or offered as an option in Additive Industries' medalfab1 machine?
I don't understand the amount of loss you claim.
If your present holdings are worth $625 that means you have 500 shares ($625 divided by yesterday's close of $1.25).
If your cost of those shares was $22,000, that means you bought at a post-split price of $44 per share ($22,000 divided by 500). I didn't think SGLB ever reached that price ($0.44 pre-split).
If you are not factoring in the proceeds from the shares you sold (500?), those proceeds should obviously be subtracted from the cost of your present 500 shares.
I sympathize with your loss, but the amount you claim seems a little misleading.
TedJ,
I appreciate your informed comments and helpful postings.
In your judgment, is the product viable? It is concerning when no customer has more than two machines and there are no repeat orders.
It was surprising that the CFO (Murray Williams) was not on the call and available to answer financial questions that Mark could not.
Does anyone know for sure if Murray Williams is still employed by Sigma?
That was a very disheartening earnings report, and Mark's comments on the conference call certainly did not allay concerns.
Do those of you on this board who have an engineering or technical background and familiarity with AM still feel that PrintRite3D is a viable product with market potential?
In other words, does PrintRite3D work?
Thank you in advance to the professional engineers and technical people that are conversant with the product and are willing to share their opinions.
It's on there now
We all know (or should) the market does not like uncertainty. When it first appeared late Tuesday evening and early Wednesday morning that Trump might pull off a major surprise to pundits and pollsters and win the election, the Dow futures crashed and quickly sold off 500-900 points.
SGLB announced early on Wednesday it was postponing the conference call and earnings report until Monday (tomorrow). If they have major news, positive or negative, it made sense for them to delay any announcement and give the markets ample time to stabilize. It was a prudent business decision.
No !
Thank you. I appreciate the views of you and other informed posters on this board.
I have been long on SGLB for some time, but like you, Alan and others, I am troubled by the fact that industry insiders have apparently not seen fit to invest in Sigma. It certainly casts a dark cloud.
Do you think the NDA with prospective customers who are testing the SGLB products may contain restrictions on employees of those companies purchasing Sigma stock during the testing process so as to avoid any appearance of inside trading?
For guidance I suggest you refer to Silver's post #45151.
If this was GE and Honeywell, I think the loan would likely have been much greater. The $1M is really a very minimal amount for companies of that magnitude.
The $1M amount seems to suggest that it may have been two private investors who are interested in SGLB and wanted to provide a bridge loan to help the company buy time and to protect their investment.
I agree. Uplisting is paramount for share price and overall awareness by the investment community. Hopefully that day is not far away.
What do you expect the PR Maxine to do? They can only report on news or events that transpire. They can't hype or promote things that haven't happened. Go back and check the PRs. I think they have duly reported on SGLB news and events.
It could well be two individuals who are long time investors in SGLB, believe in the technology and want to protect their initial investment by helping the company buy time while the market for its products develops.
RFB, thank you for your input regarding FINRA's display rules.
For those of you on this board who do not have access to Level II quotes, please be advised that in recent days I have had several buy orders in for SGLB at prices and volumes that have not been reflected in the outstanding bids. In some cases my bid has been substantially higher than those posted. It appears that market makers are low balling the actual market.
Does the acquisition of Meridium affect, positively or negatively, GE's interest in and need for Sigma's products?
GE has announced that Dave Joyce has been named Vice Chair of GE Aviation/Additive Manufacturing.
Does anyone know if he has had any dealings with Mark Cola or opinion as to how his appointment might affect the GE's relationship with SGLB?
Interesting to note in the S-1 prospectus, filed with the SEC on July 28, that Sigma intends to use approximately $3,000,000 from the anticipated proceeds to purchase EOS printers. Apparently Sigma was comfortable a month ago with their business relationship with EOS.
Has anyone heard or seen any reports on Mark's presentation at the conference in San Francisco yesterday?
Thank you, I always appreciate your views on Sigma and the AM industry.
As you point out, yesterday's was not as significant as it might seem to some. The SGLB shares traded were far less than 1 % and the dollar value was only around $100,000..
Silver, what do you make of the story circulated earlier today about EOS' efforts to develop their own internal QA?