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There were 3 related documents that stated a contract value. One in £'s and two in USD. The documents were ambiguous.
Don't know which was correct, but I tend to go with the conservative value when evaluating stocks.
The USD number is a big enough number, so it is still a positive. No need to potentially overstate the contract value. I was ready to discussed the impact of the conservative value or the larger number, but the flow went with let's just argue about the units.
Last conference call in July had the PR with results released at 4:01PM on the day.
"$6.90 converts to 5.30 pounds, close to 5 pounds quoted."
Oops. My bad. Your other post said £5, which shouldn't have made sense, but I used it anyway.
Real number was £15. So scratch my quote above.
Maybe dollars since Innova is US company and they want dollars, let the British government convert the currency?
$6.90 converts to 5.30 pounds, close to 5 pounds quoted.
Don't listen to them?
That was MHI's PR from 2019 announcing their first DED machine.
https://www.mhi.com/news/190416.html
Sigma Labs Awarded Contract by Mitsubishi Heavy Industries
August 25, 2020 / Sigma Labs, Inc. (NASDAQ:SGLB) ("Sigma Labs"), a leading developer of quality assurance software for the commercial 3D printing industry, has been awarded a contract by Mitsubishi Heavy Industries, a global leader in engineering and manufacturing, to implement PrintRite3D® in-process quality assurance (IPQA®) software. The PrintRite3D system will be installed on a laser powder bed fusion system for the development and qualification of MHI additive manufacturing production processes.
Opportunity to expand contract with MHI to include DED.
"Isn't it interesting that Bush never brought in a fuzzy math expert to counter Dr. Lehrer knowing he would be testifying at trial. Wonder why that is."
He didn't need to.
Bush deposed Lehrer months ago and knew exactly what he was going to say in court. Ambiguous, unconscionable, etc.
As Bush pointed out on Tuesday, the agreements all state that determining the lenders' actual potential losses is impossible to determine and therefore the agreements specified stipulated damages to be applied.
On Friday, when Bush cross examined Lehrer, he easily got Lehrer to repeatedly state, very clearly, that no one could determine what economic damages the lenders would have actually suffered. Therefore, having the parties agree to stipulated damages in the original documents was necessary.
So Bush was smart and used QMC's expert witness to confirm his arguments. Much more effective to use the other guy's expert witness to confirm your case than bringing in your own expert.
Bush did not bring this up in his verbal closing statements but I expect it will be highlighted in his written closing.
"Were they expecting incoming funds from someplace?"
Sri signed a Security Purchase Agreement for $9,750,000 with Lincoln Park Capital on 11/08/16. K&L Gates was drafting the required S-1 for filing before the end of the year. QMC also got a $200,000 bridge loan and paid 1,750,000 common shares as a commitment fee for the SPA.
In addition as Steve stated, QMC was negotiating with the Chinese for additional funding in early 2017.
The 1st Q conf call was on 5/14/20, which was due on 5/15. And no new financing after that.
The 2nd Q conf call was on 7/23/20, which was due on 8/14, so 3 weeks early. 10-Q reported $2.45 million in cash as of 6/30/20.
The end of August, four accredited investors exercised preferred warrants by paying the company $3.5 million. They originally obtained the preferred warrants during the $1.6 million financing deal back in January.
As of 9/15/20, they had $4.7 million in cash per the September 16 investor presentation. Investor Presentation With a cash burn rate of $500K per month, that gives them a runway of 9 months.
The 3nd Q conf call is due on 11/14 and is to be held on 10/22, so 3 weeks early. Estimated cash as of 9/30 would be $4.45 million.
The jury trial was scheduled for end of March and covid hit. Kansas shutdown all the trials and started rescheduling. They were not going to schedule jury trials until next year. So I think QMC had the option to wait or to reschedule it in front of a judge, no jury.
"Has Heathrow announce a winning test yet?"
CommonPass Digital Health Pass and Global Trust Framework Launches to Enable Safer Travel and Accelerate Border Reopenings
10/07/20 update from The Telegraph.
Travel latest: Government set to postpone Covid testing at UK airports
By Lizzie Frainier, senior content editor 7 OCTOBER 2020 • 4:49PM
https://www.telegraph.co.uk/news/2020/10/07/travel-latest-covid-passport-greece-italy-turkey-quarantine/
Based on all the recent activity, it looks like it is going ahead, but remotely and without a jury.
10/06/2020 FILE STAMP 10/06/20, OUT OF STATE ATTORNEY'S OATH
10/06/2020 FILE STAMP 10/06/20, OUT OF STATE ATTORNEY'S OATH
10/02/2020 FILE STAMP 10/02/20, DEFENDANTS MOTION IN LIMINE TO EXCLUDE CERTAIN EVIDENCE FROM TRIAL
10/02/2020 FILE STAMP 10/02/20, PLAINTIFFS OBJECTIONS TO DEFENDANTS DEPOSITION DESIGNATIONS PLAINTIFF'S COUNTER DEPOSITION DESIGNATIONS AND PLAINTIFF'S OBJECTIONS TO DEFENDANTS EXHIBITS
10/02/2020 FILE STAMP 10/02/20, PLAINTIFFS' RESPONSE TO DEFENDANTS' TRIAL BRIEF
09/28/2020 <******* Bench Notes *********>
PLF APPEARS BY BUSH, DEF APPEARS BY MODRCIN, KRETZER, AND MINNS, NEED MINNS AND KRETZER PRO HAC OATHS, WILL USE DROPBOX PROVIDED BY DEF COUNSEL FOR TRIAL EXHIBITS, MOTION FOR JUDICIAL NOTICE - DOC 132- AND MOTION TO EXCLUDE EXPERT - DOC 125- CONTINUED FOR TRIAL RULING. PARTIES PROVIDE LISTING OF WITNESSES ORDER OF THE DAY BY 5PM ON THE DAY PRIOE TO TESTIMONY. ALL EXHIBITS SHOULD BE MARKED AND UPLOADED TO THE CLOUD SERVICE AVAILABLE TO ALL COUNSEL, THE COURT, AA, AND EVENTUALLY THE WITNESSES(RPTR: JEANS)(JUDGE: VANO)
09/28/2020 Defense Attorney MINNS, MICHAEL LOUIS assigned on 09/28/20
09/28/2020 Defense Attorney assigned on 09/28/20
09/28/2020 FILE STAMP 09/28/20, ORDER GRANTING MOTION FOR ADMISSION PRO HAC VICE
09/28/2020 FILE STAMP 09/28/20, MOTION AND MEMORANDUM OF DEFENDANT QUANTUM MATERIALS CORP FOR THE COURT TO TAKE JUDICAL NOTICE OF PRIOR JUDICAL PROCEEDINGS IN TEXAS AND FLORIDA
No it is not for the quarter, is for just the sale of the first production unit. Probably more to come.
Heathrow boss: PM told me airport testing will be in place 'in October'
Monday 5 October 2020 3:40 pm
https://www.cityam.com/airport-testing-will-be-in-place-in-october-pm-says/
Airport Covid testing could start within weeks, says Heathrow chief
Antonia Wilson Thu 1 Oct 2020 08.45 EDT
https://www.theguardian.com/travel/2020/oct/01/airport-covid-testing-could-start-within-weeks-says-heathrow-chief
During the 9/3 video presentation Ruport stated that Sigma's net was between $120 and 130K for the MHI deal.
Texas Supreme Court Reply to Response to Petition for Review filed on behalf of K&L Gates LLP.
http://www.search.txcourts.gov/SearchMedia.aspx?MediaVersionID=a6c8c57e-2dc7-4670-b596-a0fcd657078d&coa=cossup&DT=BRIEFS&MediaID=f171ea7d-fc38-4364-96f1-81c853706499
Technically 4 days ago (8/28) since July and August each have 31 days.
June 30 + 90 days
"Apparently that one man shop led by a 90 year old man has been pretty effected to be one of three testing companies running beta test at Heathrow Airport London."
From the Heathrow Airport website (9/1/20).
Signing contracts near the end of a quarter do not necessarily result in revenues being recognized in the current quarter. Installing the system in Japan for MHI may take a while.
Guess the system didn't like my direct link to the PDF.
Sigma Labs CEO Mark K. Ruport hosted a virtual presentation during the conference on Wednesday, September 16th and highlighted progress made in the last 90 days including:
*2020 @Sigma RTE, which significantly shortens the sales cycle and lowers its cost;
*Contract award with Mitsubishi Heavy Industries to implement PrintRite3D® in-process quality assurance software;
*Additive Industries announced that MetalFab1 printers certified as PrintRite3D Ready and joint sales initiatives in Europe and North America;
*Awarded contract by Baker Hughes to begin production deployment of PrintRite3D® in-process quality assurance software following a successful testing and validation program; and
*DMG MORI has selected PrintRite3D® in-process quality assurance software as preferred monitoring solution, marketing their printers as PrintRite3D®-ready.
From MZ Group email this morning.
"But what is the story with Nathan E Stott, head of the R&D dept, working on pending patents."
If Stott was still Senior Director of R&D, wouldn't he be list as part of the QMC team? https://www.quantummaterialscorp.com/team He isn't.
Stott was hired in Jan 2016 and per my recollections, he left QMC along with the Sri and BOD in Dec 2016. The shareholder's proxy fight blocked his promotion to Senior Director of R&D.
In Jan 2017 Stott posted a comment on his LinkedIn page, that was captured in this IHUB post.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=127997300
Didn't Stott have a hand in shutting down the San Marco's reactor in late 2016?
Not for a while.
DATES: Effective date: [INSERT DATE 60 DAYS AFTER DATE OF PUBLICATION IN
THE FEDERAL REGISTER]. Compliance date: The compliance dates are discussed in Part II.P of this release.
P. Compliance Date
The Commission is providing a compliance date that is nine months after the effective date of the amended Rule, except for the compliance date for paragraph (b)(5)(i)(M) of the amended Rule. The compliance date for paragraph (b)(5)(i)(M) of the amended Rule is two years after the effective date of the amended Rule.535
Sigma issued the MHI PR on 8/25/20 and the price spiked up for one day and has declined since. What is so magical about PRs? They are getting the news out though other channels.
Yes the webinar was to a small audience, like those that actually read Sigma's PRs. Do you think thousands of investors read Sigma's PR?
They issued an 8-K with the presentation yesterday morning.
https://www.sec.gov/Archives/edgar/data/788611/000149315220017867/form8-k.htm
Looks like DMG MORI printers are now certified like Additive Industries printers were recently.
I'm a bit cautious about existing customers jumping to retrofit existing machines, especially under today's environment.
Retrofits will require Sigma's techs/engineers to travel to factory locations to perform the hands on work. Currently Sigma is waiting to get into Germany to do a second install for ?Airbus?. Covid could limit things for a while.
Taking a running machine out of service might be undesirable if a company is currently depending on its output. Or could be good time if a company is already running at partial capacity.
New machines can be ordered and built in Eindhoven by AI, possibly without Sigma needing to be hands on for several months. Sigma's support may be done remotely if AI has fully incorporated the hardware side of the design into printer production line.
Some existing orders, that AI have in hand and maybe in the pre-production or early production and could get "upgraded" to include PrintRite.
Could see customers get new AI machines with PrintRite factory installed (easier and cheaper?), then decide if they want to go to the trouble of retrofitting their existing machines.
Or could go the other way.
Just to add to T&L's post, AI's just released Episode 2 of 10 videos discusses AI's quad laser and the second half includes Darren Beckett discussing PrintRite. starts at 4:17
Additive Industries Productivity Leadership Challenge - Episode 2: Power-up & stay in control
https://www.webcaster4.com/Webcast/Page/2019/36829
9/2/20 Q&A was interesting.
"In another industry first QDX Ledger incorporating the latest distributed ledger protocols including Hyperledger Sawtooth and DAML. We will be sharing more details as the development nears completion in the third quarter."
I believe that they were referring to their third fiscal quarter, not calendar quarter, which is the quarter that they were in when they provided that Jan 2020 shareholder update.
https://www.globenewswire.com/fr/news-release/2020/01/27/1975512/0/en/Quantum-Materials-Corp-Provides-Investor-Update-on-Operations.html
The third fiscal quarter ended 5 months ago on March 31. Sawtooth and DAML were incorporated into QDX Ledger back in January, so the POC demos should have been going on in February and March, before the pivot to QDXHealthID in April.
Are you looking at Google Maps on the web or Google Earth Pro (a separate app/program)?
https://www.google.com/earth/versions/
Google maps aerial view is not updated very often now.
Google Earth is updated more often, on an irregular basis.
The screen short I posted was from Google Earth and is time stamped 03/6/20 in upper right and lower left. This is the latest image for Tech City in India.
You need the right settings in Earth to see the timestamps. I see them on my desk and lap tops, but not on my phone.
Yes little if anything had been done to the two SWIFT Centre buildings since March.
The "missed" point would be that the Nano Factory building site lies between the South tower and the blue metal buildings that lie east of Tech City. These blue building can be seen through the south tower structure.
If significant above ground work on the Nano Factory had begun (erecting structural steel, standing up one or two story pre-fab panels), then that would probably be visible. I see nothing of that nature.
The green bridge is just east of the IIITG Boys Hostel.