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IIRC, Watts lives in SoCal. I realize it’s an imposition, but if you pay for his gas....
The Q10 lists Interest for the quarter at $33,000.
Change in value of warrant liabilities, gain (loss) (275)
Interest income 33
VPC (Visser Precision Cast): LQMT's original "contract manufacturer."
Good point. The difference is that FedEx was always run by a CEO who knew the business he was trying to develop. And even then it took him nearly 5 years to turn a profit. While it's true that LQMT has been around for 15 years, it's only been the last 18 months or so that LQMT has been run by a CEO who has first hand knowledge the business he is trying to grow, and a proven track record to boot. And like Smith, who put his own money into FedEx, Lugee put his own money into LQMT. - The analogy isn't as far fetched as some might think.
Lugee brought in approximately $60 million in 2016. They now have approximately $40 million in cash. If you have difficulty with subtraction and division, I'd be happy to help.
What do you know. Watts was right.
What doesn't go up probably won't go down.
The machines aren't doing anything? Really? They are sitting idle?
When this company becomes "an overnight success" after 15 years of trying to succeed, we will all be singing a different song. But in the meantime... I hear you, and I'm right there with you.
LOL. Get your facts straight.
Add up their earning over the past 15 years (since their IPO) and it comes out to several millions of dollars.
Think about a company that’s been around for this long with a total revenue of $80,000 for the quarter.
I like your strategy DMN. Buy more when the weak hands sell.
We are all frustrated, largely because we, ourselves, over-hype this stock in terms of how long it will take lqmt to successfully commercialize the alloys. And then, when our self-proclaimed timelines prove to be wrong, we ignore the progress made since Lugee took over the company and we start to moan and complain about management.
Compare the company today with where the company was two years ago. Two years ago they rented a 15,000 sq. ft. building; lived day to day on very expensive VC financing via stock dilution; had just two Engel machines, and no one in management with first hand knowledge about amorphous metal alloys, and no experience growing a business in this sector of the market from the ground up. Today LQMT owns a 40,000 sq. ft. building; they have 4 machines capable of injection molding amorphous metal alloys, 2 MIM machines and other equipment (all paid for); $39 million in the bank (with an annual burn rate of around $10 million a year); a CEO/Chairman who built Eontec from the ground up and who also owns a network of affiliated companies in the amorphous metal business - a CEO who takes no salary (a dollar a year, technically), who has put an end to the annual cycle of awarding bonuses to execs (unless they perform), and who has put his own money where his mouth is.
Complaining can be a healthy cathartic. I understand that. I do it myself. A lot. But it’s times like this that investors need to be cognizant of the big picture. Enough said.
Hey Watts. A few years ago you wrote that you were impressed with Paul because "he comes from good people." So Watts happened, bro?
Management Commentary
Regarding the Company’s results for the first quarter of 2018, Paul Hauck, the Company’s Executive Vice President of Sales and Marketing noted “The Liquidmetal sales and marketing team increased it’s go-to-market and sales intensity during the first quarter of 2018, stimulating customer interest. The Company’s successful biocompatibility testing results have helped generate medical device manufacturer interests and new prototype orders during the first quarter. Several key prototype programs from the medical and automotive markets are in testing with customers, and some are anticipated to yield production tooling orders before the end of 2018. Additionally, changes in pricing strategies have helped generate the largest number of key opportunities the Company has observed in the past two years.”
When you can’t sell product or services to customers, you sell words to investors.
Thank you CIMA7. That answers the question.
(SSE Trading Rules
3.3.14 The Exchange imposes a daily price limit of 10% on trading of stocks.)
Not to disparage Jason Bond, but he is as phony as a $3 bill. He makes things up to convince his followers that he's brilliant, when in fact he is a liar. I replied to his long winded post in which he (incorrectly) concluded that Lugee bought his shares in LQMT after Trump won the election.
https://www.jasonbondpicks.com/blog-posts/how-trumps-trade-war-opened-the-door-for-liquidmetal-in-china/
In my reply, I cited the appropriate SEC filings to prove that Bond was wrong. Not surprising, he did not post my comments. The only 2 comments he posted were: "Fascinating article. thank you for all the time you took to put it together;" and, "Impressive!" I wouldn't be surprised if he wrote those kudos himself.
I would have written to the Sec, but he cleverly includes very clear information on his website stating that he is not an investment advisor and that no one should buy stock based on his recommendations. So contacting the SEC would be a waste of time.
When I checked on the stock last evening at around 10PM EDST, 2.4 million shares had been traded. That was about 1/2 hour into the trading session. Looking at the data this morning still shows a total of only 2.4 million shares traded up until the time exchange closed earlier today. At least according to the following websites:
https://www.marketwatch.com/investing/stock/300328?countrycode=cn
https://www.reuters.com/finance/stocks/overview/300328.SZ
http://www.barrons.com/quote/stock/cn/xshe/300328
So it seems as though trading was halted not long after it began. (Unless I'm reading the data incorrectly.)
Looks like Eontec halted trading after only a few minutes of activity. In the past, Chinese companies took broad liberties in deciding when to halt trading, often citing vague reasons such as "significant matters.” In their "new economy" such actions were supposed to stop.
Anyone on this board understand the Chines stock exchange well enough to comment further?
Eontec stock up 8% in early trading.
Eontec stock resumes trading today at 9:30 PM EDST. Should be interesting.
$64 million dollar question: a $.02 answer...
Since 2002, LQMT's marketing strategy centered around the ability of their alloys to be injection molded like plastics; however, they had no means of fulfilling that promise until 2013. When Apple kicked in $20 million in 2010, all LQMT had was 50 patents and a lot of debt. A machine capable of injection molding parts made from amorphous metals did not exist in until ~2013. Apple was not interested in purchasing a controlling share of a company that, in 2010, had no means doing what they claimed they were all about. Apple was only interested in the rights to the patents and in a vehicle to safeguard them (via CIP).
When Lugee spent $64 million, in 2016, the number of patents had increased to ~ 100. More significantly, by then there were two types of machines capable of net forming BMG parts: the Engle E-Motion and the Eontec machines. Lugee bought a controlling share of a company that by then had the means of doing what they promised to do since LQMT went public in 2002. Furthermore, LQMT and Eontec are synergistic - a perfect fit in Lugee's plan to capture the bulk of the amorphous metals market.
In essence, Apple and Lugee bought two different things, hence the difference in the amounts each one spent.
Well said, DMN. But it’s difficult to keep the positive news in the forefront of our mind, especially for those of us longs who have been with this company far longer than Lugee has. If we take the view that this company really just began when Lugee pulled it out of the dumpster, we haven’t been waiting very long at all. Still, the wait, coupled with a lack of real news, breeds frustration and and can turn the most optimistic among us into cynics.
this week we are rolling out an aggressive 90-day sales and marketing plan designed to leverage our increased capacity in 2018.
That is a well reasoned response. Thank you.
I’ve learned s lot from this board. Thank you.
I’ve learned that Lugee Li, a self-made multi-millionaire who built Eontec from the ground up; who has attracted such notable customers as Tesla; whose company is already manufacturing cell phone cases out of amorphous metal alloy for Chinese’s companies; who owns several other companies in China and Europe and the USA to synergistically work to control a large part of the bulk metallic glass industry; who has gained the ear of Apple, Inc., and whose main Chinese company (Eontec) had $8 million of amorphous metal sales during 2017, is too stupid to understand how his American based company should market themselves and their products — or perhaps Prof. Li is just too lazy to keep an eye on his $64 million dollar investment in Liquidmetal, Inc.
Yes sir. Every day I learn something new. Thanks again fellas.
Q1 financials should be out Tuesday, May 8, based on the release date over the past 2 years. Good or bad, at least it will provide relatively concrete data. Keeping fingers crossed, but no surprises expected.
Jolly, we all need to have a sense of humor. But if you need it spelled out, it was a joke and not a disparaging remark about you or your dentist. Hauck, on the other hand....
Ah ha! It’s your dentist that is preventing LQMT from selling product. And all along I thought it was Hauck.
Oh well. Live and learn.
I don't know what Bond was smoking when he wrote that blog, but I want some of it.
I especially like the part about how Prof. Lugee Li bought into LQMT after the 2016 election because he knew what Trump would do vis-a-vis China. I guess Bond forgot that Li was supposed to buy the majority of his shares early in 2016, MANY, MANY MONTHS BEFORE THE 2016 ELECTION (when Hillary was believed to be a shoe in) but Lugee couldn't get his money out of China. The delay caused LQMT to amend the original share purchase agreement to extend the time until the end of the year. (See SEC form 8-K filed on 8/17/2016).
And "Apple's secret lab" at the LQMT facility in Lake Forest... What a laugh. Even Bond had to laugh to himself when he wrote that.
I guess there is no limit to what some "investment advisors" will write in order to get the poorly informed to subscribe to the reports.
Interesting what’s bio meds market cap? Who’s their CEO? TIA
Hard to say, but Bio-Medical is where I think the break out will come from. We'll know before the year is out.
LMT is directly connected with FoxConn? Really? And you can substantiate that based on FACT and not just on innuendo and supposition?
As I said, I hope you’re right. But I’ve been an investor in this company longer than anyone else on this board - even longer than Watts his name? I’ve seen and heard it all before... innumerable times. In spite of that, and in spite of the ignoble past history of the company, I remain long and strong about LMT and I agree with those who see that LMT is FINALY ready to break out based on revenues. I just do not agree that the break out will involve Apple.
But what is the difference anyway? As long as the break out comes, does it really matter why it happens?
Hope you’re right. But after 6 years of reading Apple-Liquidmetal hype, some of which was well reasoned, I’ll believe it when I see it.
Major companies (like Apple) can’t afford to rely on a single source for their parts. In a conversation I had a few years ago with Tom Steipp (back when Visser Precision Cast was the sole manufacturer of all things liquidmetal), he said the second source requirement was a major stumbling block for the growth of LMT. Mr. Steipp implied (but never stated) that a lack of a second source was the reason large companies were not interested in signing contracts with LMT even if VPC could handle the volume requirements. It was also inferred (but not stated) that for that reason (the second source conundrum), he needed to re-do the exclusive arrangement between LMT and VPC.
The point is that at the present time, even if Eontec has enough machines to manufacture case parts for Apple (a big assumption), there is no second source to manufacture parts for Apple. LMT is nowhere big enough (with their 2 Eontec machines) to act as a second source. So, at least for a few more years, I see no chance of Apple using BMGs in their products.
Unless you are directly invested in Eontec, why are you worried? It's not as though Eontec and Liquidmetal are one in the same companies. Or do you really think Liquidmetal and Eontec will end their working relationships just because of the changes at the top of Eontec? - That's not going to happen.
Lugee has already worked his magic on Liquidmetal and set it's wheels in motion. The worst thing that will happen as a result of the Eontec announcement is a temporary drop in the share price of LQMT because of panicked selling by people who do not understand what is happening at Liquidmetal, Inc..
Spartan, you are absolutely correct!
Quote:
_______
I put up my own money which is more than any of employees at LQMT except Professor Li.
_______
Worse are those employees who have not made a sale... except for selling their own shares of LQMT stock.
We put up our own hard-earned cash. That's why so many of us are angry. The only fact that I take comfort in is that Lugee feels at least as angry as we do, because he's put up a LOT of his own money.
Those who can (sell), do.
Those who can't, post blogs.
Quote: We have sufficient production capacity for the near term.
__Bruce Bromage
A true statement. After all, when one is not manufacturing much of anything, one does not need a lot of equipment.
Demand better !?
________________
Li has had three years and Hauck has had much longer still. Let's not encourage them to keep producing the same nothingness.
Demand better !
We need sales, revenue and profits NOW.
________________
Now why didn't I think of that? All we have to do for LM to rake in the revenues is to Demand such from them. OK. I'll call Bruce this afternoon.
Wow! A voice of reason. Bravo.
Sorry... didn't see Gamsec already cited the source.