Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
The real revenues will come from BMG production in China. Partnership agreements may not be finalized yet due to TW. Hence, once that is over, perhaps we start to see a ramp up in BMG revenues. I never expected anything substantial in the near future from LF.
When BB uses the term "company " he is referring to LF only. No BMG is going to be mass produced out of LF in the near future. That will all come from their "partners" in China. The electric upgrade was because they planned to pivot to MIM mass production out of LF. This may have hit a snag. Hence the statement. Until TW is settled, we won't hear of any BMG mass production for LQMT. Hopefully the TW gets resolved soon.
Not sure I understand your post. China has been restricting access for US companies to their markets for 20 years now. This is fact, not an accusation. Now the US is starting to do to them which they have done for years.
"The preparation of the Registrant’s quarterly report on Form 10-Q has taken longer than anticipated and could not be completed by the required filing date of May 10, 2019 without unreasonable effort and expense, as additional time is needed to assess the impact of subsequent events on existing accruals and accounting positions, and determine whether such events are material for disclosure."
This is a quarterly report, so the accrual is in reference to 1st quarter only. I wouldn't read too much into it as it is only a week delay. An accrual means they either had an
expense that wasn't paid out in the quarter or they had a product sale in which revenues have not been received in the quarter. And they are not sure how to book it. Nothing more than that.
Very nice, thanks. Mass production is what we are looking for and confirms we are entering that stage.
https://asia.nikkei.com/Economy/Trade-war/Foxconn-boss-not-afraid-of-shutting-down-factories-in-China
Gotta give credit to Foxconn 's CEO. The guy has got a pair to be making statements like this. More pressure on China. Chicomm's better drop their ego and come to their senses soon.
Please see post 171835 for the correct response to your post. I will copy it here:
"If I read the theory correctly, it isn't that the trade war is preventing us from signing a contract. It is that we have jointly developed both an alloy (106c) and machinery (sold by LK) which requires a new agreement under the PLA. That agreement will not be signed until the effect of the trade war is known. In other words, our profit in the agreement must account for any tariffs that Eon and JVs will pay.
In this theory, as the world gears up for 5g and EVs, the midframes, routers, camera frames, battery housings, etc., will be made by large contract manufacturers (e.g. FoxConn) who will need a very large number of machines, and a large amount of alloy in order to meet demand. The Maze was built to capitalize on this demand. We are part of the Maze. We are missing the agreement required by the PLA for the already acknowledged, co-developed alloy and machines."
This has been reported for weeks. The "fold in" design was the wrong design. Huawei's " fold out" design via the Liquidmetal "falcon wing" has proven to be the way to go. Samsung is now looking at "fold out" designs.
Why would he want/need an equity stake if he knew the company was going to go bankrupt as you state?
If what you say is true, then why didn't he just wait until they did go bankrupt and then buy the IP for pennies on the dollar?
Checkmate.
That quote is from January. And you are implying it is a current statement. It appears the misinformation on this board is coming from you.
If you think China has no say over "Taiwanese" Foxconn, I have some swamp land in Florida to sell you.
No way do they start construction until they know the issue is resolved.
China reps are scheduled to come to the US this week. Expect an announcement.
Yes, I get it, TW has delayed mass production. TW will be resolved in a couple weeks and we can resume business as usual with both companies. Still looking at second half of this year for anything meaningful.
Feel free to ask the question yourself on Eontec's website. You have claimed to have a Chinese wife at one point (or whoever the hell was posting under your user name at the time) so you should have no problem asking your questions to them in their language. Have at it!
Question: The capacity of liquid metal is limited at present, can you tell us that your company has some practical actions to improve the capacity of liquid metal, including some new projects or some progress in the capacity of liquid metal?
Answer: How do you do?Thank you for your attention to the company.One of the company's non-public offering projects is the industrial expansion of liquid metal precision structural parts, a total investment of 265 million yuan, as the implementation of the project, the company's liquid metal products capacity will be released.Thanks!
That is $40M USD investment in liquidmetal infrastructure.
That is very good news.
Obviously Li did not think the LQMT was going bankrupt as he just could have waited and got it for pennies on the dollar. He bought the brand, not the ip. He didn’t need the ip.
US officials are visiting China next week. Then China officials are scheduled to come to the US first week of May. Hopefully we will get it done early May. Fact that nothing is going on in the news tells me they are very close and just working out the minor details.
Yes that would be wonderful wouldn’t it? No let’s come back to reality. Exactly how many orders have the clowns at LF taken since Li took over? They can’t even get a freakin electric upgrade done. Trust me, they are sitting around like us waiting for something to come out of China. If you invested because of LF, I have some swamp land in FL to sell you.
Josh made this claim and he clearly has sources in China as he knows far more than anyone on this Board.
Boy you really post some garbage. No Eontec could not be bought out as they are a Chinese company with a government entity as majority shareholder. Only a Chinese company would even be considered, which is still highly unlikely.
Apparently no one is bright enough to figure out that nothing is going to happen publicly with LQMT until the trade negotiations are complete. We are, after all, a Chinese controlled company operating in the US.
Li bought LQMT to eliminate the competition. Why would he turn around and sell it to a competitor? Doesn't fit his plan of being the single largest BMG producer in the world. He also turned down exclusitivity requests from Apple and Huawei for the same reason.
https://www.androidauthority.com/samsung-galaxy-a-80-galaxy-a70-price-specs-release-date-974759/
"The A80 comes with Samsung’s New Infinity display, which lacks a notch or punch hole, and has thin bezels. It’s a 6.7-inch screen with FHD plus (2400 x 1080) resolution. The A80 also includes a rotating, pop-up camera — a first for Samsung (though we’ve seen similar before on phones like the Oppo N3)."
Interesting pop up camera design. Again, can't be aluminum. These new designs have no bezel and are very thin with sliding mechanisms.
Eontec first with revenues via mass production, and then us. That's why I project 3-4 qtr substantial revenue increase for LQMT.
https://www.engadget.com/2019/04/08/huawei-open-to-selling-5g-modems-to-apple/
Well this is interesting....a relationship between Huawei and Apple is certainly good for us.
Actual float is far lower if these dollar amounts move share price that much.
He like the other scientists left because BMG research is now done out of China. So there really isn't much need for any more research at LF (just a cash burn). What is needed is production engineers. And production.
Huawei says by 2021, half of its phone offerings will be foldable phones. Good news for BMG.
https://www.phonearena.com/news/Huawei-foldable-flagships-future_id114958
Interesting, Huawei is using Foxconn Zhengzhou to make their P30 phones. Same place where the iPhones are made.
https://www.gizchina.com/2019/04/01/huawei-p30-series-has-5-million-units-in-its-first-batch/
Eontec q&a section of their website is down. It has been that way for 4 days now. Maybe they were divulging too much information.
Either stainless steel which they currently use or BMG. Apple only cares about profits, so Li will need to live up to his word of making BMG less expensive than stainless. Only then will it be considered.
https://www.inverse.com/article/54478-project-titan-apple-car-release-date-price-features
Apparently Project Titan is still going.
Thanks, that confirms what I thought. Now the question is the midframe for the P30.
It says assigned to Apple but filed during the CIP capture period. So am I mistaken and this is part of CIP?
Based on Eons 2018 BMG revenues, they did not sell any face ID brackets to the customers you noted in 2018. Hence no revenue to anyone else. 2019 will be the year of mass production for BMG (out of China, of course). Some revenues will start coming to LQMT second half of 2019 IMO. Unless Yihao can land some mid range customers in the meantime. Don't expect anything from LF.
From the 10K:
(9) Fundraising projects
During the reporting period, the company actively promoted the construction of non-public offering of stock investment projects.
1. In response to market demand, the company stepped up the implementation of equipment customization, installation and commissioning, personnel recruitment training and other aspects, and accelerated the first phase of the project of Yi'an Yunhai Light Alloy Precision Die Casting Production Base and its related supporting production process. The continuous improvement and release of the company's production capacity has better guaranteed customer demand.
2. The industrialized expansion project of amorphous alloy (liquid metal) precision structural parts is to increase the purchase of machinery and equipment on the comp
any's original infrastructure. The related equipment of the fundraising project is being purchased in succession, some of which have been put into production, and some are being installed. debugging. Amorphous alloy (liquid metal) precision structural parts industrialization expansion project due to the late arrival of funds raised in prospects, investment project investment progress is less than expected, the company decided to extend the project from June 2, 2018 to June 2, 2019 .
As of the end of the reporting period, the above-mentioned fundraising projects have invested a total of 192,081,100 yuan (of which the investment in the production base of Yi'an Yunhai Light Alloy Precision Die Casting Parts was RMB 140.1037 million, and the investment in the industrialized expansion project of amorphous alloy (liquid metal) precision structural parts was 5,182.98. Ten thousand yuan ($7.72M USD), amorphous alloy (liquid metal) R & D center construction project invested 74,400 yuan).
Translation: In 2018, they spent $7.72M in liquidmetal machinery expansion. With more expected in 2019 through June. This, in addition to their existing machines, should certainly give them mass production capacity. Also noted elsewhere in report is the established relationships with large companies..."established cooperative relationships with well-known customers such as Huawei, Lenovo, Samsung, Wistron (Apple supply chain), Heshuo, Lianbao, Kyocera, Idealens, Parrot, Gopro, Goer Acoustics, and BOE.". And..."The liquid metal Face ID bracket produced by the company has been supplied to domestic well-known mobile phone manufacturers such as Xiaomi, OPPO and Huawei."
Hopefully everyone can start putting the pieces together to see what will be happening with liquidmetal in 2019. But you MUST have some patience.
For those that do not remember Li's written pledge to the Eontec Shareholders last December, below is a translation. I added the USD figures to make it easy to understand. Please note this is NET PROFIT, not just revenues.
Yee Dongguan Science and Technology Co., Ltd.
Yee Industrial Co., Ltd. Notice on performance commitments
The company and all members of the board of directors guarantee the truthfulness, accuracy and completeness of the information disclosure, and there are no false records, misleading statements or major omissions.
In view of the change of the controlling shareholder of Dongguan Eontec., Ltd. (hereinafter referred to as “listed company” or “Eontec”) to Zhuzhou State-owned Assets Investment Holding Group Co., Ltd. (hereinafter referred to as “Zhuzhou Guotou”), the actual controller was changed to Zhuzhou Municipal People's Government State-owned Assets Supervision and Administration Commission, in order to protect the interests of Zhuzhou SDIC and all shareholders of Eontec, Eon Industrial Co., Ltd. (hereinafter referred to as "Eon Industry") as a promiser made a performance commitment to Zhuzhou SDIC. Eontec recently received a notice from Eon Industrial on its performance commitments.
Commitment reads as follows:
Eon Industrial promised that the net profit attributable to shareholders of listed companies in the audited consolidated statements of listed companies in 2018, 2019 and 2020 shall not be less than RMB 37,765,800 (5.51M USD), RMB 43,322,000 (6.41M USD) and RMB 49,823,000 (7.3M USD), respectively. Less than RMB 130,820,000 (19.37M USD) (referred to as “three-year commitment net profit total”), the above data is the result of the annual growth rate of not less than 15% according to the 2017 audited consolidated statement data. The profit or loss arising from the investment mergers and acquisitions and disposal of fixed assets and intangible assets that are not related to the main business in the total net profit for three years is not counted.
If the total net profit of the listed company's three-year commitment does not reach RMB 130,820,000, Eon Industrial shall make full compensation to the listed company in cash by June 30, 2021, and the compensation amount shall be equal to the total net profit of the three-year commitment minus The actual net profit realized in three years.
Special announcement.
Dongguan Eontec., Ltd. Board of Directors
December 24, 2018
http://static.cninfo.com.cn/finalpage/2018-12-24/1205686801.PDF
Too big a file for any free pdf converter. But I can see the 2018 NET PROFIT was $54,202,859.52 CNY or $8,076,226 USD. That is an 60+% increase from 2017. So Li more than met his pledge of a 15% YOY net profit increase in 2018, 2019, 2020. At least for the first year.
Now hopefully some of this will translate to 2019 increased earnings for LQMT.
I cannot PM you as you need to be a subscriber member of ihub for that which you or I are not.
I went to Bloomberg and they list Eontec's 2018 revenue as $997.8M CNY or $145.7M USD. And their net profit as $54.2M CNY or $8M USD.
So I do not know where you are getting this $1M number from but do not believe it to be correct. Eontec is far larger than that.
Is this from their 10K? Can you please post the link? Thanks
FYI, Eontec's website has been down since around noontime yesterday. Seems odd for it to be down this long. Stock price is up, website is down.
Wonder if the much anticipated 10K will be out soon.