is…out the door and not looking back…
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No, but he's got all his money back. These are TRULY "free shares."
He's not going anywhere anytime soon. He got burned by missing a 60% gain and he's got all his money back. One would suspect he's waiting to see where Lugee takes this.
Before, Visser had the hammer with LQMT because of $$$, but with Lugee's $$$$$$$$, even Visser is just a nail. Lugee carries the hammer. I'm betting Visser is kissing Lugee's rear right now for info.
That's fact. 17.572 mill warrants at .19. From most recent 10K, but I think there's a reference to a May 10, 2014 10Q filing where the original filing is. Visser missed out on millions not holding through the March Lugee announcement. My guess is he only exercises when he's heavily in the money and I would figure he's done more investigating this time around before he acts on this. (And NASA is Visser, not LQMT. It's currently a very small development contract).
14. Warrant Liabilities
Pursuant to FASB ASC 815, the Company is required to report the value of certain warrants as a liability at fair value and record the changes in the fair value of the warrant liabilities as a gain or loss in its consolidated statement of operations and comprehensive loss due to the price-based anti-dilution rights of warrants.
During June 2012, the Company issued warrants to purchase a total of 15,000,000 shares of common stock to Visser under the Visser MTA (see note 3). These warrants had an original exercise price of $0.22 per share and expire on June 1, 2017 and were originally valued at $4,260. The foregoing warrants have certain anti-dilution and exercise price reset provisions which qualify the warrants to be classified as a liability under FASB ASC 815. As a result of subsequent issuances of the Company’s common stock, which resulted in an anti-dilution impact, the exercise price of these warrants was reduced to $0.17 and $0.18 as of December 31, 2015 and December 31, 2014, respectively. In addition, the number of shares to be issued under the warrants as a result of the anti-dilution provision increased to 18,937,931 and 18,706,235 as of December 31, 2015 and December 31, 2014, respectively. As of December 31, 2015, these warrants were valued at $34 using the Black-Scholes valuation model utilizing the following assumptions: (i) expected life of 1.42 years, (ii) volatility of 57%, (iii) risk-free interest rate of 1.1%, and (iv) dividend rate of 0. The change in warrant value for these warrants for the years ended December 31, 2015, 2014 and 2013 was a gain (loss) of $1,019, $1,506, and $(1,299), respectively.
On July 2, 2012, the Company issued warrants to purchase a total of 18,750,000 shares of common stock related to the July 2012 Private Placement (see note 3). These warrants had an exercise price of $0.384 per share and expire on July 2, 2017 and were originally valued at $5,053. The foregoing warrants have certain anti-dilution and exercise price reset provisions which qualify the warrants to be classified as a liability under FASB ASC 815. As a result of executed draw-downs under the 2013 and 2014 Purchase Agreements, which resulted in an anti-dilution impact, as well as contractually defined price resets following the second anniversary of the July 2012 Private Placement, the exercise price of these warrants was reduced to $0.19 as of December 31, 2015 and December 31, 2014. As of December 31, 2015 there were warrants to purchase a total of 17,572,000 shares of common stock outstanding, which were valued at $25 using the Black-Scholes valuation model utilizing the following assumptions: (i) expected life of 1.50 years, (ii) volatility of 56%, (iii) risk-free interest rate of 1.1%, and (iv) dividend rate of 0. The change in warrant value for these warrants for the years ended December 31, 2015, 2014 and 2013 was a gain (loss) of $927, $1,194, and $(856), respectively.
That's interesting. I have to look that up for my own recollection, but I kind of do recall Steipp saying Eon's alloy works in Engel machines, but don't recall him saying if Materion's alloy works in Eon machines. Materion has been on a pretty nice run.
Do you have any expectations, or issues hoped to be discussed, for the c.c.?
I'm done buying. I wish I could buy more, but I set my limit and came to a round number. I bought more than I thought I would, but the Chung buys started yelling, "If you don't buy NOW, you need your head examined!!!"
Time for the people with the big money who are getting information passed on to them to start buying. I've seen it before. I'm sure many of us have. It's shaping up that way. The rest of us can just sit, watch and ENJOY!
Hey, so is this perfect timing or what? Kind of puts a little spring in your step...crawl with the money coming in, a walk as Steipp is moved out, and then walking faster now as they sprint into 2017.
If Lugee, or any pr, has ANYTHING to do with Apple, the sky is truly the limit. With CIP being the value to Lugee and Apple signing off on that, it's stupid to think that's not a distinct possibility at this point. At the last ASHM I was at several years back, Steipp said, "I honestly have no idea if they will ever use it." He signed his exit papers by giving up those 3 Board seats, because he honestly knows they ARE going to use it." He has a ton to lose and a ton to gain from his equity holdings.
If this heads further into the 20'a in high volume...I can guarantee, there is going to be a stampede
to get in...
I wouldn't bet against it. However, the short information is very valuable and may provide significant insights if that will happen...
Easy - it's accumulation and it's just the start.
Have to give Lugee immense credit. He came in here forecasting and planning - EVERYTHING - from raw materials, to production, to IP, to customers, to supply and demand, to understanding the financial markets, to making sure he communicated with shareholders through a special c.c. The man has a great mind.
Anyone else get the feeling Lugee is in the U.S. to steamroll and make tons of money and Chung, as CFO, has seen it all laid out in front of him?
I just bought another 100000 shares.
Ok, now we are 3 year olds.
Yes, they did, but I need the very valuable short interest!!! I am very big into useless information and having the short interest would be of a significant help.
I'm not in this, but how are you reading this acquisition? We can spare the garbage on the other Board, haha, by being here. The infatuation with the departed Steipp is beyond bizarre and a waste of time.
I just can't tell if Materion is trying to get inroads into BMG's. Looks that way. I would not think of that as a negative if the market is big enough and Lugee has already hit the ground running and has all the necessary patents, although Lugee has said he would need "partners" to meet the demand he has projected.
MTRN has been doing well as of late.
Disagreed. Brought up a great point. A half-truth is as revealing as a falsehood.
It is very interesting to watch the fluctuations on the LQMT short interest.
I find the short interest quite interesting.
What is the significance of this? Is this to point out that Chung is buying into rising short percentages? Hope someone warned him...
From the looks of it, with the money to do so, and the advances in China with the technology, he's been able to accomplish much more in 18 months than Steipp could do in 6+ years and he just needed the cross-licenses and zirconium to seal the deal. This isn't an indictment of Steipp. Steipp saw this is where the most advancement and where he'd have the most financial security. This isn't a pump of Steipp either, but no one cuts a deal for their known demise, unless they know they're fully protected.
I don't usually go for that stuff, but you've got me rollin' man.
Glad to see you've come over from the dark side, heh, heh, heh...
Beware irrational exuberance !
Haha, couldn't find another Pres, though? Not a fan of that guy. Will never forget how Jobs was so looking forward to meeting him, but when they sat down at a Gala and he told Jobs that he just couldn't get anything done because Congress wouldn't listen, that sealed the deal for me too. Amazing how the HRC supporters forget WJC signed off on DOMA, of all things, to get what he wanted and DT never brought that up, which would have sealed the deal and finished her off for good, but I digress...
I think, at this point, it's gotten a little "off" in these parts. When the conversations are still dwelling about a removed CEO, not so sure what the infatuation and preoccupation still is when there is a change in the Administration at LQMT as well.
Either it was inevitable and/or good that the CEO is gone and we've moved on to a new era or not good, but there's just something wrong with still dwelling on the old. It's pointless. Move forward. GLTA.
How bout Eontec can have zirconium sponge 10 to 15 times cheaper?
How bout Eontec has raw material production capability?
How bout Eontec already have fourteen 500-c machine?
How bout Eontec custom mold capability?
How bout Eontec has connection to Apple?
How bout Eontec impressive list of customer?
So what got you particularly excited about the Eon Lugee Li presentation?
I just think that if Lugee was looking to increase the price of LQMT stock to eventually get an uplisting and make money off the stock, the more business he can shift to LQMT, the better - of course, as it relates to BMG's - and the fact that even if business increased many-fold on Eon, he's limited by both a government-imposed lock-up on selling as well as very limited foreign investment into Chinese equity markets.
I know I learn a lot of new things about Eontec capabilities that I never knew before and it got me very exciting
If it's not ready to sell, it's not ready for sale.
Eon had minimal sales and they were probably more advanced. He was in a no-win situation making shareholders happy, but with all those stock options, he'll end up very happy.
I agree on the people that came onboard (Bromage) and the people who stayed too long (Salas), and I put Hauck in that class too, not so much for his failure to sell (more proof the tech wasn't ready for Steipp-haters and Hauck-cheerleaders - because if it was ready, he should have sold something - that's not Steipp's fault, that's Hauck, although the hiring was on Steipp), but if Hauck truly blamed Bromage for the failure to sell that is as pathetic and weak as you can get.
Regardless, at this juncture, Steipp had to go. Lugee had no choice because of what they need the CEO for now and since Lugee's calling the shots, game over at LQMT for Tom Steipp.
That would give Chung 1.6 mill on those purchases. Sounds ridiculous, but that would not shock me knowing his moxie. He got a 300-400% return last time, that would be 500% this time. Hope he'd be happy with that...
I don't see it that way, but I get your point. The tech wasn't ready - until now - and the biggest reasons were cost, ability, and money. It was too expensive, they were incapable of manufacture, and they needed serious funding. Lugee provides all. China is so far advanced in terms of the tech and manufacturing that this could not happen in the U.S. and certainly not by LQMT. Sad to think we really gave up manufacture like that, but maybe Lugee has some U.S. plans.
Steipp's the easy target because he's CEO, was jettisoned, and is ultimately responsible, but Apple doesn't stay with LQMT if he's not in place and this deal isn't signed without him in place. I would never dismiss the fact that this Company could have gone under. In fact, after Visser and finding out "stuff," I knew that deal got really ugly and Steipp can certainly be blamed for that as well, but I thought they were cooked after that.
In my mind, the knock was the dead wood - Salas is certainly one - that should have been jettisoned long ago, but who knows why he wasn't. The guy is devious and maybe he would have mucked up the works.
Bottom line - it doesn't matter anymore. Time to move forward from all that and welcome the new era expecting Lugee & Co to make the right moves, when necessary. He has enough skin in the game, that's definite.
Again, just fwiw, because I get your point. My point is it could have gone either way and there's no denying there is always the chance it could have gone better, but it's now that matters and the opportunity appears to have finally presented itself. GL.
I'm of the opinion that for the share price to make any new lasting movement that we do need news of new orders. The old song and dance no longer gets you more than a day's spike. I was surprised at how little the stock moved when Li finalized his investment. That should have been a bigger deal, but the news hardly made it past this forum and we had just a little blip.
The upcoming call will allow another chance to reiterate the investment as a news item, but if that and some discussion of personnel changes is it, then we go nowhere - or down.
I'm still thinking pr before the call and Chung's million shs at .1869 end up looking like a total steal. Then, you end up with a happy call and callers giddy as hell. That would be a great scenario for them to start off their first call and it would be a smart move to make as it would get shareholders in their corner from the get-go.
Barney still won. He had to do nothing but be part of stringing us along to make a killing.
It looks like Barney's dumping shares after the press release.
For the amount of due diligence (time) I have into this, I don't have near the shares I would like to have had, but either way it will be a great investment in the long run and it has been fun playing.
Excellent point. Please stop correcting me.
Beware irrational exuberance ... esp. the kind being shown on the board this week
The middle guy isn't even there anymore. He decided he'd make more money manufacturing cabinets.
Jason Collier
VP of Operations and Manufacturing at Infinity Open Framed Cabinetry
Denver, ColoradoConsumer Goods
Previous
Visser Precision, Ball Aerospace, TruStile Doors
Education
University of Colorado at Boulder
And Visser dumped out just before the deal was signed. You know that was strategic. It was also pretty nasty. They used him.
*** Thought for sure we'd see more Form 4's filed EOD.
i owe Barney heaps.
Am i totally off base here??Let me know what you guys think. Would love to hear anyone's opinion.
Just like clock work!
Same thing Tony did before tripling his position.
I still believe we will see further Form 4's
Never seen "quiet period" defined. It's mostly informal except for IPO's. From SEC (below), but it's in Reg FD, which are SEC Rules. At one time, quite a while back, I had read something about the "10 working day rule," but I haven't seen much more to validate that. However, if you run the days from his last purchase on 11/30, you'll see he's probably used that date as his marker, as the call is on 12/15.
I challenged them on the "quiet period" rules a couple of times. They don't/didn't like that. When there's nothing happening, though, don't blame them for citing "quiet period" as a Rule. It helps in avoiding having to give unhappy answers.
https://www.sec.gov/answers/quiet.htm
Fast Answers
Quiet Period
The federal securities laws do not define the term "quiet period," which is also referred to as the "waiting period." However, a quiet period extends from the time a company files a registration statement with the SEC until SEC staff declare the registration statement "effective." During that period, the federal securities laws limit what information a company and related parties can release to the public. The failure to comply with these restrictions generally is referred to as “gun-jumping.”
On June 29, 2005, the Commission voted to adopt modifications to the registration, communications, and offering processes under the Securities Act of 1933. Among many other provisions, the rules update and liberalize permitted offering activity and communications to allow more information to reach investors by revising the "gun-jumping" provisions under the Securities Act. The cumulative effects of these rules are as follows:
Well-known seasoned issuers are permitted to engage at any time in oral and written communications, including use at any time of a new type of written communication called a "free writing prospectus," subject to enumerated conditions (including, in some cases, filing with the Commission).
All reporting issuers are, at any time, permitted to continue to publish regularly released factual business information and forward-looking information.
Non-reporting issuers are, at any time, permitted to continue to publish factual business information that is regularly released and intended for use by persons other than in their capacity as investors or potential investors.
Communications by issuers more than 30 days before filing a registration statement will be permitted so long as they do not reference a securities offering that is the subject of a registration statement.
All issuers and other offering participants will be permitted to use a free writing prospectus after the filing of the registration statement, subject to enumerated conditions (including, in some cases, filing with the Commission). Offering participants, other than the issuer, will be liable for a free writing prospectus only if they use, refer to, or participate in the planning and use of the free writing prospectus by another offering participant who uses it. Issuers will have liability for any issuer information contained in any other offering participant's free writing prospectus as well as any free writing prospectus they prepare, use, or refer to.
The exclusions from the definition of prospectus are expanded to allow a broader category of routine communications regarding issuers, offerings, and procedural matters, such as communications about the schedule for an offering or about account-opening procedures.
The exemptions for research reports are expanded.
A number of these rules include conditions of eligibility. Most of the rules, for example, are not available to blank check companies, penny stock issuers, or shell companies.
He can use his options when it's $10 share
That's the cat calling the kettle black.
Yes, but why should anyone bother reading? It's more fun to skip over the important stuff and think it's all LQMT. That's all LQMT needs is another equity offering.
A point of note, however, is that to do all these things, you know the Chinese gov't is OK'ing all this. And they seem to be OK'ing whatever he wants, including the 63mill that no one else is able to do. I think that says an awful lot about a lot.
Very interesting thought. He's got the patents. He's getting up there in age. He may want to be done and/or do consulting work. He's got a very marketable commodity and a good reason for wanting to sell it off, particularly now that he saw what Lugee paid for LQMT and where this is all going.