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http://www.investorvillage.com/uploads/51871/files/mnkd.pdf
Trends vs. RBC and consensus:
• Afrezza IMS based sales estimate: ~$22,700, based on cumulative 132
TRx YTD and an assumed net price of $158-195.
• RBC: $46.1M for 2015. TRx must grow 12.9%-13.5% to reach our 2015
forecast (15.0%-15.6% prior week).
• Consensus: $5.2M for 1Q (sales must grow ~147%) and $110.7M for
2015 based on Bloomberg.
First impression
Week ended: 2/13/2015
Prescription data:
• TRx: 78 (34 prior week); +129.4% wk/ wk
• NRx: 78 (34 prior week) ; +129.4% wk/ wk
Market share data:
• Afrezza: 0.02% (0.01% prior week)
• Apidra: 2.92% (2.84% prior week)
• Humalog: 40.15% (40.17% prior week)
• Novolog: 46.12% (45.93% prior week)
Boo - YAAA !!
I still have not heard back from MTRN so I'll try the VP - Tom states that they expect little in revenues from ENGEL and MTRN sales - but he acknowledged that the partnerships do give shareholders some revenue.
I wish the news was better and they had a ongoing and growing concern, but the variables are still very "iffy".
I can't buy more stock until that first in-house prototype Tom bragged about results in a contract.
Then there is the tough negotiating with VPC for the 4 prototypes with potential. Odds are that's less than a wing and a prayer.
Progress ? Yes, but....Exploiting the Engel connection in the EU sounds like a year off at least by Tom's timetable.
Still no cm's is a deal breaker for high volume mfg. capacity requirements for prospective customers. Sounds like that's also a year out minimum.
$20M in revenue break even is also about two years out MINIMUM, and even then if all parts are made in-house ? Ugh.
Sorry - No incentive to buy more shares til mid-2015 at earliest.
I was not there but someone might answer that question. It's a good one.
Also, Hauck mentioned at the ASHM he's prospecting into the auto parts market - not me.
For me it's all about the non-CE automotive / aerospace markets (JPL /NASA still dabbling) and low BE BMG (Corrosion resistance) alloy revenues and asking the same question: will any sales of it into non-CE markets (like autos) come back to LQMT shareholders ?
Oh, no question the alloy is partially ancient history...Except this NEW patent assignment is from Sept. 2014 and is updated with input by Materion Brush and APPLE for "low concentration BE BMG" w/out Liquidmetal / CIP input...
Speculating: Since the ENGEL process been upgraded recently... Buehler equipment can be adapted better than 10 years ago, too.
Is APPLE dabbling in market diversification lately? I'd have to say yes.
OOO - yeah, he didn't deserve that ! I went over board.
No call back by MTRN yet. I'll give it another day then try the VP.
Some assignors of the "low BE patent" are former die casting, Daimler and Magna employees. I'm thinking that's a good thing.
Magna is a sub-tier parts manuf. for Mercedes BENZ.
LAWRENCE H. RYCZEK, formerly w/ Swales Aerospace and now at MTRN Brush.
PATRICK BOURKE, w/ Swales Aerospace.
JAMES YURKO, formerly w/ "IdraPrince" (Buhler Group) die casting automotive and aerospace equipment.
yada yada yada.
"dark" - Thanks - That's EXACTLY what I'm asking. Are ALL the Assignors just APPLE or LQMT employees in ALL cases.
No. Obviously not.
I'm trying to follow the bread crumbs and get some idea about who APPLE is working with to develop Liquidmetal markets. Some of the markets are not CE and they MIGHT impact Liquidmetal revenues...eventually.
**Every one of those companies has to have spent some R & D $$ to get their names on the patent and have some "idea" of the potential.
Like you, I don't have time to look back at all the patents and look into the lower tier assignors, but I did for the one you posted. Very interesting.
Tim Cook met with Elon Musk at TESLA earlier this year, too. He is kinda into aerospace and cars last I checked.
Is APPLE trying to diversify? Yes !
"dark" - James Yurko, a former "IdraPrince" employee is an Assignment 2 and 4 assignor of the patent too. Must mean something.
http://assignments.uspto.gov/assignments/q?db=pat&asnrd=YURKO,%20JAMES%20A.
IdraPrince aka BuhlerPrince (Buhler Group) developer of automotive and aerospace die casting equipment.
"A subsidiary of Italian corporation Idra Presse SpA, "IdraPrince, Inc." is North American's largest maker of die casting equipment, used mostly in the automotive industry. In addition to being a full-service provider to Ford Motor Company, General Motors Corporation, and DaimlerChrysler AG, IdraPrince also serves the auto industry's Tier I suppliers (companies that sell finished components to automakers) and Tier 2 suppliers (companies that sell items to Tier 1 suppliers)."
Read more: http://www.referenceforbusiness.com/history2/54/IdraPrince-Inc.html#ixzz3HMpQzOEc
http://www.buhlergroup.com/northamerica/en/industry-solutions/die-casting.htm#.VE6B2rstB9A
http://foundrymag.com/uncategorized/idraprince-inc-supplying-ssr-yamaha
Very interesting.
OOO - I'm only trying to follow the bread crumbs you guys are dropping and add some "suppositions" and color.
I'm pickin' up what you're layin' down !
Hey, I want more reasons to buy LQMT and be a more long term HOLDER and not a partial trader. The patent and assignees "dark" turned up is VERY interesting.
What are your thoughts on a APPLE / MTRN & Magna /Swales former employees Beals (Daimler) and Ryczek (Swales now MTRN) employees synergy ?
http://assignments.uspto.gov/assignments/q?db=pat&asnrd=RYCZEK,%20LAWRENCE%20H.
http://www.linkedin.com/pub/lawrence-ryczek/25/9a4/838
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=107556442
Swales Aerospace is just around the corner from the Goddard Space Flight Center and NASA's Langley, Virginia facility.
"In 2002, Swales took over the lead contractor position in a $225 million, five-year contract to provide NASA Langley with Systems Analysis and Mission Support (SAMS), displacing previous agreements held by giant Lockheed Martin and Federal Data Corp."
http://en.wikipedia.org/wiki/Swales_Aerospace
"dark" - really good find. Your a regular Dick effing Tracy !
Good ! Yes, that's the one I recall when I did some pre-buy-in DD....Shipped to VPC in 2012.
I found your original post and read thru the multi-post response thread from "jpaige", "yamasushi", "watts" and others - enlightening. Good refresher.
Post #16096 of 61010
Another UCC filed - Visser Precision Cast. Statement filed on 8/16/12, expiring in 2017. You can find it with the other filing:
http://www.husky.co/EN-US/
"Husky is the world’s largest brand name supplier of manufacturing solutions, including tooling, systems and services...Our main manufacturing facilities are located in Canada, the United States, Luxembourg, Austria, Switzerland, China, India and the Czech Republic."
Secured Party: (Organization)
Husky Injection Molding Systems, Inc.
55 Amherst Villa Road
Buffalo State: NY ZIP/Postal Code: 14225
Country: United States
SUPPOSITONS: If VPC uses HUSKY's then the ENGEL system 1) wasn't quite ready for prime time production (in their eyes) 2) they got the HUSKY's for less and it was a cap ex $$$ decision 3) great salesmanship by HUSKY - buy "made in America" ? 4) VPC didn't want to be locked in with ENGEL and Liquidmetal from the start.
The post by "schlub" was prescient. Read the last paragraph:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=78676794
Yeah, why not !?! Good point - I forgot about them (inconveniently). Why wouldn't they buy from MTRN ? They'd have to be doing VERY WELL to justify buying $$ bulk BMG from MTRN.
Would they pay alloy license fees - probably not -
http://www.liquid-metal.info/liquid-metal-industrial-coatings/
Again, it's Hipple's "several millions in sales" early this summer comment and what has happened subsequently that has my interest piqued.
Yep - that could have been a smokescreen, so take it with a grain of salt.
OOO, if you have time would you mind reposting that HUSKY info (who what where when LOL !) and explain what does the "the UCC's were filed" mean. Because that was some hard work and makes sense to me.
***I recall you (?) posting something on that a while back but it slipped off my radar.
That would really help us "newbies" and any one else doing DD research. Trying to follow the breadcrumbs.
IMO Paul and his plans are an incentive to pay serious attention to this company now.
But the ASHM posts didn't inspire me to buy any more shares for now. I took a small bite at .19 awhile ago and kept a lot of dry powder in the armory.
I need a sound reason(s) other than the APPLE over-hype I got swayed by late last / earlier this year.
I'm looking for bellwethers. Steipp said in his Gateway Conference speech that MTRN is the only "industrial strength" mfg of BMG alloy.
Hipple said this summer '14 they had "low MILLION$ in $ales" - to who? That announcement - they were mfg. in industrial qty at MTRN was only in February '14 ! So "Millions" since February?
http://www.marketwatch.com/story/materion-corporation-unit-introduces-new-line-of-bulk-metallic-glass-alloys-2014-02-17
That's pretty damn fast !
Has to be VPC, some LQMT and who else? Was it just a one off sale ? Low million$ = a lot of ingots !
Since then: 1) Any improvement in that number and 2) was / is that "curve" being bent upward, which is a positive for LQMT shareholders - if Liquidmetal gets a royalty for licensed and unlicensed alloy sales. Do "we"?
**Other than sales of BMG alloy to APPLE, of course...
So - As OOO points out - Purchases of MTRN ingots for LQMT in-house production must show up in the inventory financials of LQMT ...or it's all gone to VPC (or APPLE?)-
Either way it's for production because they have contract(s).
VPC is private so that info is not public. However, I called VPC and they told me that they don't use the ENGEL system there but they DO buy their alloy from a "industrial mfg. source" = has to be MTRN.
Supposition: I'm also projecting they buy the licensed stock for LQMT / their SWATCH client, assuming SWATCH gets there bezels made by VPC.
If that's the case LQMT gets royalties form SWATCH and from MTRN (I hope).
Thanks for the DD on the inventory. That makes sense that LQMT would stock alloy for samples til they get a contract they can run in-house. When they get the ISO9001 cert we'll know they're ready. QC + OSHA compliance w/ safety officer takes $$ and work.
http://the9000store.com/what-are-iso-9000-standards.aspx
I take it mgmnt. did not indicate when they'll get certified?
As far as calling MTRN - My motto is it can't hurt to ask. It's not like I haven't heard "no" before. What are the chances they'll tell us everything we want to know?
You're good. They're a publicly traded company that acts like one and should give us the straight scoop.
Let's go all in:
I doubt they'll tell us if "CE" growth is due to APPLE and BMG but it can't hurt to ask. Last time Hipple mentioned that BMG sales depends upon APPLE's "decision making process"...well?
What are their BMG profit margins ?
Do any revenues from BMG, licensed and unlicensed, go to Liquidmetal?
Is their a military aerospace contract they supply using BMG near net shape investment casting (F-35)?
Were the "millions in sales" last year ('13 -'14) from non-licensed alloys and do non-licensed alloy sales still generate revenues to LQMT? What portion are licensed BMG sales?
I really like Question 6 re: production qyt. info based on Liquidmetal meeting.
Is that MTRN's final capacity or is there room for growth?
If true - That alloy weight / qty. can be seen as MTRN's likely sales projection for "some years from now" or "next year" - there are implications for Liquidmetal's bottom line.
Which is it?
That's the spirit ! It's been only 12 hours since the CC so you could get a few more questions together. Not much point in asking 1 question and hanging up, right?
It's not a problem for me to call. The fact is I have called LQMT / VPC and IR at other companies in which I'm invested.
Coordinating a timely CC is not a sure thing. I went to the top at MTRN when I called a some months ago. It took over a week to get a call back from Michael C. Hasychak, but he called back.
Yes, I saw that in MTRN's PP and it's "promising"...for MTRN shareholders. What about LQMT shareholders?
You're also correct no one SPECIFICALLY asked about Liquidmetal and BMG - but there were many questions (and answers) about growth opportunities within divisions and product lines, as well as discussing delays in growth for auto and the F-35's because of the new investment casting / "near net-shape" product etc.
MTRN had a letter perfect presentation. Laid out the good & bad and put dilutive or accretive $$$ to their upside / downside projections by market and division. They also touted the growth in CE markets and *surprising growth in medical markets* too - but was any of that BMG? Who knows?
***The opportunity was absolutely there to specifically define the BMG growth (or lack) beyond the "several millions" from prior "Q" comments.
On point w/ Liquidmetal mgmnt: I want to know if Liquidmetal mgmnt. and the accountants will EVER divulge the gross partner revenues. Will the accountants EVER be allowed to do so?
Without that financial break out there's going to be a lot less information for "the market" to project sales revenues and sales growth by our partners and LQMT.
It's not helpful.
Good ! I did not attend but I didn't get anything from the other posts (including yours) about how many other / early ENGEL machines are out there and if they were royalty /commissionable.
**I called VPC directly and the guy I spoke to flatly stated they don't have any and don't use them - What do I know. Maybe Tom contradicted?
Per your earlier post MTRN could make up to 907,184 100-gram ingots per year at ~ $30 per = ~$30M in gross sales. MTRN said they expect to generate $10M in revenues in a year or so if memory serves.
What's that mean to Liquidmetal - Perhaps 5-10% to Liquidmetal if all are licensed ingots? $1.5 - $3M a year at full sales capacity?
If increased sales warrant it MTRN will up their production. Realistically, even with Paul's drive, it'll be some years before that $30M sales hits barring a miracle.
On the PLUS side, sales of licensed ingots leads to licensed parts at varying price points thru varying mfg. methods (in house, out sourced etc.) and qty. / size of part per ingot.
That's a $peculative math formula I don't want to tackle. Take out salary /overhead, MSR %, CLM mfg. %, it seems Liquidmetal needs to be MUCH more than a $20M annual sales company to break even.
Earlier this year Mr. Hipple @ MTRN said BMG alloy sales could go much better than projected, too. I'll listen to the CC tomorrow.
Well, well, well ! First I'm reading that ! If Liquidmetal sees revenues in this /next "Q" report substantially above the typical $150 -$180K then can we assume those are partly commission(s) for the ENGEL machine(s)? How many?
If a CLM eventually gets involved to support a BIGGER volume contract (pending middle next year?) there should be a BIG $$$ POP after they buy 5-10 machines at once.
Depending upon production and shipping schedules that revenue could show up a "Q" earlier. The auditor really should break out that type of revenue stream. Licensed production and licensed equipment sales, too? OK !
***Does that portend MTRN ingot licensing revenues too?
I'm going to listen in tomorrow - that question has to be posed by a fund manager.
Nice work. Again, VPC says they don't use ENGEL equipment so go figure.
I'm sure you know that Douglas C. Hofmann was a former employee at Liquidmetal and is driving it's use into NASA thru his JPL position in Pomona.
http://www.jpl.nasa.gov/news/news.php?feature=3997
"Dr. Douglas C. Hofmann, at JPL, for his innovative research in metal-matrix composites (Liquidmetal) for future NASA missions"
It's GOOD to have Douglas on our team...if he can just get a thumbs up after another year or two of testing we could see a substantial HIGH margin contract.
Can Paul and Douglas convince this crew?
http://www.jpl.nasa.gov/about/exec.php
A Lockheed EAPS canard contract would be a BIG help.
Yeah, that's a good question. No one asked at the shareholder meeting if any other ENGEL machines were installed and in use elsewhere in the US.
Recently I called VPC and was told they don't have one - they utilize casting but would not tell me the equipment or process. I assume the Lockheed canard prototypes were made by VPC.
If ENGEL shipped and installed more than one machine (for LQMT) from Austria that was registered with customs that could be found.
I'm surprised that Steipp would not confirm or reveal the nature of their commission arrangement with ENGEL and / or MTRN for sales revenue. Their auditor should divulge that by next "Q" - if there are any sales thru either business.
- IMO, shareholders should expect the auditor to reveal revenue sources -
I know that Steipp has not even confirmed they have a sales commission relationship with MTRN and only alluded to one with ENGEL.
The MTRN CC @9:00 am tomorrow will give us some hint of revs. for Liquidmetal ingots this past "Q" which could tell us if VPC and APPLE are buying from them for prototypes or iWatches (LOL !).
http://investor.shareholder.com/materion/releasedetail.cfm?ReleaseID=874321
Anyways, that would be a good question for their CC. I'll be listening in.
***Is there any chance the LQMT PPS improved 15% this week because someone knows that there are licensed partner revenues from MTRN booking soon?
Prototypes for JPL / NASA ?
http://www.jpl.nasa.gov/news/news.php?feature=4326
**Hear the REPLAY** of Steipp's 25 minute Gateway presentation here. Glad to help out.
http://www.gateway-conference.com/
1. Click on "webcast" and the ICON in the middle of the page.
2. Find the Liquidmetal presentation and click "attend" on Sept. 4
3. Fill in the registration form and click "Register"
4. The video .PDF pages and audio replay load automatically
5. Sit back and listen - Take notes and make your own best informed conclusions
***One point - Listen at about 5:30 minutes in.***
I think it's been overlooked that Tom's definitive statement that, locked in with Materion, Engel (world's leading supplier of injection molding machines for plastic) etc. we (Liquidmetal) have the only commercially viable way to manufacture Liquidmetal products.
The Engel machine in operation video is not visible -
It's good to hear that what Tom was saying about "Paul's plan" in Sept. has begun to come together in October.
Molds from design concept to fruition is about 8 weeks.
They have the Engel cycle time down to 2-2:30 minutes...
Cleaned up balance sheet with enough cash for 2-2 1/2 years operations. Also have additional financing back up with "Aspire".
Targeting production "middle of next year".
The Q & A at the end is where some info is revealed about prospects & revenues...
Steipp presented at the "Gateway" conference Sept. 4 and said VPC is in the drivers seat for the canard production. I have to assume VPC did Lockheed's prototypes and may have been the sales leader. As of now, we have no other CLM's so not much choice in the matter.
Here's my take on what the future holds for LQMT PPS valuation and future revenues based on his statements at Gateway and what he / Paul revealed in the last CC.
1. The Gateway Conf. confirmed the gross revenues at Liquidmetal for the foreseeable future will be only SWATCH ~$150K per Q and some small Apple (prototypes?) revenue.
2. NEW revenues from their first contract(s) not coming in until Q2 of 2015 per Tom (8+ months from now).
3. Tom says as many as (4) contracts rolling into production next year.
4. The parts will sell @ $1.00 to $50.00 per part, running up to 100K parts per year for 2-5 years. I do like the consistent long term revenue.
5. Tom says it's [unknown] what the license / mfg. profit margins will be ? Let's say each contract generates approx. the same revs. as the SWATCH contract @ ~$200K per Q per contract = $800K per year per contract. It's only a guess...
6. Tom says "break even" is ~ $20M in revs. Under that scenario, my math, per the above, says that's about 20 - 30 contracts.
7. QUESTION: At that profit to revenue rate, How many years will it take to break even? Generously, let's say 8 to 10 new contracts per year, we're looking at ~ 2 years from next summer. Liquidmetal MUST have the ability to ramp up to that level of business in-house and w/contract mfgs. signed up - still pending.
On a more positive note, the guidance was the best and most specific I've seen from Tom.
Revenues from SWATCH and the small amount$ that APPLE pays Liquidmetal for services rendered etc. are not going to get LQMT on any Long Term investor's radar.
***I'd like some "big" surprise announcement this calendar year so more Long Term investors rebalance their '14 year end and 2015 portfolios to include LQMT in January.
LOL ! Happy to help - GLTA. I'm holding off more buy in for another "Q" at least...we're in a holding pattern until Paul gets his team together.
Last CC: 2nd or 3rd "Q" for the first contract. Was that clarified?
IMO - Trade opportunity above .20 - IF it happens this calendar year again...doubtful.
After they PR a new contract I'll ante up for the risk on risk off gamble.
hmmm...consider it posed. Getting up to speed (best I could) on Liquidmetal prospective clients / markets / prototypes was my first goal before I bought in, personally.
The "anvils" are on the Liquidmetal website "blog". Lots of other blog posts and room for comments below.
You can read up on the anvils here:
http://info.liquidmetal.com/blog/bid/369523/Top-4-Advantages-Liquidmetal-Alloys-Provide-Medical-Anvils
You can read up on "canards" here:
http://info.liquidmetal.com/blog/bid/344344/Quantifying-Liquidmetal-Technology-s-Phenomenal-Dimensional-Consistency
Happy to help you out.
I have a few more pertinent questions but I'll call 'em directly instead.
Good work. Paul better hustle since they have fewer than 10 MSR's now and no CLM's (not counting VPC). First time I've read such detail about their gameplans and from someone we can trust will implement them.
1. Question: Did anyone say anything further about their 1st customer(s) being in medical and aviation and if they are still targeting 2nd - 3rd "Q" 2015 for their first contract? (Assuming anvils and / or canards...)
2. The Mettech symposium in Sept. is evidence Paaul wants to lead Liquidmetal into the European market. He stuck his toe in the water and planted a flag in a new world market. AGRESSIVE. Like I wrote - Paul has international plans. Me likey
And why not? ENGEL is right there with a built in "trust factor" and customer base. Thinking out of the envelope, ENGEL may even provide MSR leads, cooperate with and incentivize Paul to invigorate and spearhead the BMG business there. After all, Europe prides itself on the world's finest engineering in automobiles etc. Also, Liquidmetal is partnered with Materion - the only industrial mfg. of BMG. There is synergy there....or could Paul even source another licensed mfg. of BMG in Europe ? It's a "win-win" IMO.
http://www.vitrimettech.unito.it/
Paul is like Pac-Man = voracious and always wants to "munch a bunch".
Decent reversal of trend. Impressions of prospective client reviews at today's show and tell may be driver.
Then again, perhaps a trader or company stopped selling.
Either way, it's better that LQMT is up / break even when the DOW is down 350 and the NASDAQ is down 80.
Said another way: There are a lot of ducks to get in a row for a successful re-roll-out, but I hear the quacking getting closer.
Liquidmetal staffing and recruitment has MOJO.
Yep - Maybe tomorrow when the new client company reps (are supposed to) come in for a dog and pony show LOL !
I know those MSR"s are hoping they can earn enough $$$ to buy a Rolls off their sales of Liquidmetal over the next few years.
They know they are on the ground floor of a new "MIM-ish" industrial opportunity with major $$$ invested by our tech partners. Opportunity from Paul knocked and they answered. Let's see them deliver....6 - 12 mos. out from them for contracts is my best guess.
"tvasile" - Thanks for the photos. Looks like a outdoor reception under a tent too. Hope the weather cooperates and a good time is had by all.
Could be up to 20 MSR's today? That makes it worthwhile. The new blood MSR's will be most gung -ho and had the most recent and pre-evaluated relationship with Paul.
> > Look for good things from them.
So - 20 is better than none *LOL* but the real story is the number of "potential" clients tomorrow.
hmmm...Wonder if they will let on at the ASHM how many potential client companies and who they are that attended and/or came in for an evaluation. Also, what is the time frame for the MSR's to generate "prototype to contract" business ? e.g. 6 mos to a year?
Couldn't hurt to ask during the show and tell on the 16th right ?
"longinus" check this. http://www.vitrimettech.unito.it/
"Vitrimettech" presentation 9.19.14. This will bear fruit, IMO.
http://info.liquidmetal.com/blog/bid/397056/Liquidmetal-Technologies-Broadens-Research-Community
More evidence of Paul's aggressive INTERNATIONAL marketing campaign and broadening outreach to partnerships for new potential IP innovations that may extend into non-CE mfg.
“Our first annual meeting focused on synthesis and manufacturing of metallic glasses and on links with industry. We were therefore absolutely delighted that Dr. Glenton Jelbert and Dr. Stephanie O’Keeffe of Liquidmetal were able to join us (electronically) on the first day, introducing us to the many exciting developments at the company,” said Professor Lindsay Greer, organiser of the University of Cambridge (UK) meeting. “For the young researchers in the Network, the presentation by Glenton and Stephanie and the subsequent Q&A session were very informative. But even more important, the insight into actual production was in fact inspirational in these early stages of our Network as we aim to develop applications exploiting the unique property combinations possible with metallic glasses. As VitriMetTech progresses we look forward to further links with Liquidmetal Technologies.”
“Your precise and informative presentation has been very much appreciated. (The researchers) have now been introduced in some detail to the field of metallic glasses and will remain working in this research area for up to three years. They will certainly have the opportunity, not to mention their supervisors, to interact with (Liquidmetal) as a major industry producing these materials,” said Professor Livio Battezzati, VitriMetTech Coordinator.
"Currently, Liquidmetal scientists are engaged with over 40 research groups. Maintaining open and collaborative relationships with researchers allows Liquidmetal Technologies to advance the knowledge base of its alloys, thus enabling improved products and service to customers and licensees. “We continually strive to be at the forefront of amorphous alloy technology, being well connected to university researchers ensures that we can do so,” said Stephanie O’Keeffe, Senior Scientist for Liquidmetal Technologies."
Along with your JPL / NASA link posted just last week (10.7.14):
http://www.jpl.nasa.gov/news/news.php?feature=4326
And this article by Paul Hauck, there is an attitudinal "sea change" at Liquidmetal that is hard to ignore:
http://www.pim-international.com/magazine
True, that's new "long" - From Oct. 7, 2014. IMO significantly details NASA working with Liquidmetal / Engel for prototypes.
VERY Good news if also true.
Former LQMT employee David Hoffman is the driving factor in BMG usage at NASA thru his JPL Lab at Caltech. Thanks "Hoff" !!
"...material scientists have been focusing on the 3-D printing of titanium alloys, the new research shows that complex shapes can be molded at low cost, while maintaining their performance, when using bulk metallic glasses....the researchers..predicted that bulk metallic glasses would be the highest performing material, typically doubling the predicted performance of titanium...The researchers then worked with two commercial companies to fabricate more than 30 identical versions of the new mechanism, utilizing a brand new injection-molding technology available in industry."
http://www.nasa.gov/jpl/news/metal-made-like-plastic-may-have-big-impact/
Question: Does Liquidmetal have a non-disclosure with NASA / Hoff and if not why aren't they using PR's about these new developments? Are these "our" products or not? Good questions for the shareholder meeting.
So true ! LQMT could have chosen a similar path and didn't. Now "GT" has a legal claim against APPLE for punitive & egregious terms (per the article). APPLE paid GT a loan to change their business model to be sole - provider to ONLY help APPLEthen dropped the company's product. Nice.
Personally - I'm SO happy Liquidmetal is going their own way without any more APPLE $$, but with APPLE IP into non-CE markets.
***Apparently APPLE sole-source deals come with strings attached that twist into a noose and hang your company.
http://finance.yahoo.com/news/gt-cut-jobs-wind-down-183439758.html
"GT Advanced Technologies will cut 890 jobs, close an Arizona plant expected to make scratch-resistant screens for Apple Inc (AAPL.O), and...pursue legal claims against the iPhone maker while revamping under bankruptcy.
"Only if GT winds down these operations will it be able to stop its mounting losses and re-focus its resources on the operation of its core business of selling sapphire furnaces and other products," the company said on Friday.
"GT believes that it has many claims against Apple arising out of its business relationship with Apple," the company said in a filing with the U.S. Bankruptcy Court in Manchester, New Hampshire.
The company said it could not pursue the unspecified claims at the outset of its bankruptcy, but that the claims would allow GT Advanced to terminate several Apple agreements that it said were burdensome and of no value."
I wonder how close Liquidmetal came to a similar decision as GT's which would have been suicide. The only positive would have been at least the trash talk on the IHUB board from the "Debbie downers" would be a lot less...because there would be NO LIQUIDMETAL Company LOL !
http://www.macrumors.com/2014/10/09/gt-advanced-wind-down-operations/
http://appleinsider.com/articles/14/10/09/appe-sapphire-partner-gt-advanced-seeks-to-wind-down-plant-operations
One thing I like is the giant interior space photo that I've never seen before.
"Apple, for its part, has again said that it plans to focus on "preserving jobs" in Arizona and that it will "work with state and local officials" as it considers its next steps."
Hmmm...How many Engel machines could APPLE bolt down inside that building ? *chuckle* Hello ?
What went wrong and can Liquidmetal learn from it?
Was it:
1. Poor cap ex planning
2. internal graft / fraud or
3. too must trust in APPLE (cut off the final $140M loan payment) which pushed GT Advanced onto the list of APPLE victims.
"GT lawyer Luc Despins said the company is “tied up in knots with confidentiality agreements” and can’t reveal the full story behind the liquidity crisis that prompted its reorganization petition. Disclosing “the full causes of the filing and the game plan in the case” could cost GT $50 million in damages from a third party that has prohibited it from even discussing the confidentiality arrangements, Mr. Despins said. Later, a courtroom reference confirmed the third party is Apple."
i.e. So we'll never know. That darn IP agreement got in the way (or is it possible GT leverage?)
Either way - They'll have sell out to APPLE to try to get some relief for their shareholders.
So - How do you like them APPLES ?
I concur. Well thought out post and your reasoning is sound. Hauck is a fireball and a sales leader, so wind him up and let him loose.
He's signed 3 rep groups and 2 molding companies with a combined 80+ years experience in one QUARTER ? So far that is...
***Why did they ALL sign-on with an unproven, fledgling company like LIQUIDMETAL?***
Because of the trust he engendered over 30 years among his peers...oh...and they want to be on the ground floor of a company poised to make a big move in the industry so they can make some serious MONEY.
Capitalism * at it's finest.
*The Oxford English Dictionary (Vol II, p 863) locates "CAPITALISM" first usage in English in 1854 by William Makepeace Thackeray in his novel, The Newcomes. Not Marx as has been tendered by the left.
Hauck's a HUGE believer and the new partners are too. Extraordinary persuasive skills.
Hauck's understanding of the industry, market niches, BMG strengths / weaknesses, engineering / mfg. process from "A to Z" is what Liquidmetal always lacked and now, by virtue of being associated with the IP / industrial / commercial backers APPLE, Engel and Materion he can "speak softly and carry a big stick." *
*From an old West African proverb originally. In a letter written in 1900, a year before he became president, Theodore Roosevelt wrote, "I have always been fond of the West African proverb: `Speak softly and carry a big stick; you will go far.''
Here's to going far !!