Hi FYI. Your contribution to the board is unmatched. your analysis spot on, based on facts. Thanks and hurry back from 'vacation'.

Manus executives were restricted from departing China, to discourage Chinese executives from moving AI business offshore.....a signal not to take the path of in which Chinese executives register companies outside China to sidestep regulations from both Washington and Beijing. Reporting from Meghan Tobin, NYT. Sounds kind of familiar? Well, the price did not tank, so I guess there is not connection....

People that have held this since 2016 (and well before that) know these burps on so-so volume, have always been a head fake. So the same fomo suspects will buy into it yet again, and feed the spread for day traders. I don't believe that Luigi has been operating this company in order to pay its retail investors. All of his focus (and himself) is in China, where the liquidmetal brand and IP has been put to good use. When they actually talk seriously with contracts and numbers, about US business development, I have little faith in prosperity here.

Right now, today, the wizard behind the curtain could come out and say that LQMT Valencia Circle will be profitable not by WATTS' next birthday, but by the end of the year. Well the hype sold quite well, before, then the wizard disappeared behind the curtain, not heard from since, so maybe nobody will believe it. But no doubt somebodies will. Just like before. And the price will maybe leap again to all of sixteen cents. Another off ramp for the speculators, or those in hospice.

It occurs to me that attracting attention in the US markets, as they do in China with the extensive Q&A, may not in LL's best interest at the moment. Valencia Circle is a US$ holding not technically under Beijing's thumb. A potential conflict of interest, as they set up the China ops. It seems tome they have put the real head office there. and the mystery investors make it appear that LL has even less control. Head fake?

"If he wants to succeed". It seems to me Luigi has already succeeded in his CCP environment, took the brand and the IP to China where it apparently flourishes. His Valencia Circle investment was left in the dust,..... because that was not the primary target, until now? Luigi has been the pivotal to everything since 2016. If he is now pivoting in favor of US$ income and free of EONTEC/ the maize and fascinated with America, capitalism, and green card opportunities, great joy for us. On the other hand, everything he is doing and where he dwells as Asia manager, is very much anchored in China. I want success for outside investors in LQMT, the rest is flummery.

What I can glean of late, is the entire dice roll now hinges on the new manufacturing base in China, in which Valencia Circle has a direct interest. On the other hand, manufacturing has been the sine quo non for 10 years, starting with the headquarters building (also direct interest), and bouncing around to any number of locations from China to Arizona. And back. However since no other solution to the revenue puzzle has been forthcoming, it's back to the 'new' solution of manufacturing for the umpteenth time, which effectively moves D-day into the next cycle of rebirth for the dead Phoenix
(as in the bird of legend). If we wait (live) long enough, maybe we will see this rise from the ashes too. But the odds (and the dilution) are stacked up pretty high. What I would like to have is the grand finale, one way or the other, so the curtain can drop.

There is another grand finale resolution that no-one talks about. What does LQMT have that has any value aside from the real estate? IP and Crucible. That's it. Within the limits set by Apple. There are also territorial and IP 'agreements' with EONTEC, which have been worthless to Valencia Circle, and which could be disappeared in a heartbeat. So what would stop LQMT from spinning off what IP remains, along with Crucible (which is co-mingled with Apple anyway) and selling the real estate for $14 million and distribute that .... all divided by a whopping 940 million shares. Who would they spin it off to? Well, Apple, EONTEC, maybe even Samsung, for a pre-arranged (cheap) price (they like pre-arranged) Okay, fantasizing during the quiet period, just trying to imagine just how bad this can get for the outside US investors, because well, historically nobody gives a hoot about us..

Another week starts tomorrow, week #520 since Luigi (and the CCP) acquired effective control of LQMT California. That is right, five hundred and twenty weeks during which OUTSIDE holders were not paid one dime. But that is not all.......1300 weeks to wake up to, without getting paid one dime, right from the get go. The accumulated deficit says it all. So welcome to another Monday, holders.

He has studiously filed papers with the US authorities to dance around being in violation of this and that. There are two kinds of corporate attorneys: Those that see their job as warning everybody about everything they should not do to keep out of trouble (and then can say I told you so), and then those that help support and accomplish your objectives. Heaven forbid any US attorney would be in charge of any US based capitalist competitive enterprise with global ambitions. TC however falls into a third category....he is there to keep the filings up to date and within the
legal limits, whilst ensuring that Luigi and the CCP are safely behind the curtain.

Thank you for appointing me CEO, however I quit. On principle. No-one answers the phone at my headquarters.


Thank you for appointing me CEO however briefly. I quit. On principal.

Thank you for that. Your historical perspective, relevant engineer background, and familiarity with the many lead players over the years is invaluable.

I am not aware of any obligation for Apple to use LQMT as a manufacturer. or anything else for that matter. Apple does not need Valencia Circle for anything, and I have some doubt about LQMT's ability to meet future Apple manufacturing requirements, much as we would like to see it happen.

Growth by association has often been a mantra that has never put one dime in my pocket. I hope this is different, but direct and significant contract revenue from Apple would be slam dunk.

Remember that Apple and Samsung are working on the hinge together, so that there is enough customer base to support the new technology. Weird as that sounds. Does Samsung have to pay LQMT for their use of the same hinge that Apple is developing? Would hope so, but don't know but because the answer is somewhere in 50K pages of legalese.

S o let's see, Big Sky was putting out vitriol and got booted in 2024 after 61 posts. Blue Sky starts again in 2025, same nonsense, unmistakable. So what's the next alias gonna be? Does anyone care?

I too cannot see how the fall from grace does not penetrate a dime on the way down, given the downright silliness of the annual report. And TC's usual serving up of another nothing burger for his fan club. Whilst the real source of power dines well and remains comfortably behind the curtain somewhere in China....and far far away from outside shareholders of the American dream.

Well let's get to it. 2001-2010. Massive dilution. Apple puts in a meager $20 million to pay off some accumulated debt and takes the IP for electronic communications. Apple wants no ownership in the company. 2016 LL acquires complete control of the company and it's BoD, via his Hong Kong holding company. The IP and the brand are traded off to his Chinese company EONTEC, which is subsequently taken over by Chinese state sovereign companies, and LL is diluted to a small minority holder and no longer CEO. Then comes more Chinese manufacturing (Yiang) and LL who controls the Valencia Circle company, now reporting to TC the CEO. Right. What a mess. How exactly are we the outside shareholders of Valencia Circle ever going to get paid?????? Uh, well, I do not see why anyone has to pay us anything, if there is a path to avoid it.
)

Everything has disappeared into the the land of accumulated loses, dashed hopes, and unrealized potential. It is a 100% flop for 25 years. How much more does anyone need to know about this 'US' company and it's outside holders??

LL was founder and controlling holder of the Chinese company EONTEC, with which we have certain territorial, brand, & IP sharing agreements. Today however, LL holds only 8.7% of EONTEC shares. I suspected that State owned sovereign funds had acquired his shares at a premium so that they cold force control, and their disclosure protocol did not provide much clarity on what happened. However I have reconsidered. State owned companies today are indeed the largest shareholder, @ 28%. However, it is just as likely that this happened through issuance of new shares directly to the state owned companies, and not through purchase of LL's shares at a premium. Thus diluting LL's ownership and control up front. Or a combination of that and him selling into the market. 2/3rds of the shares are now reportedly retail shares. And LL has invested his proceeds in, well, the maize, LQMT, Yihao manufacturing. I can't prove any of this, and still believe side deals are a way of life for these folks, but maybe he has moved away from the CCP and wants to make money in real hard currency? We wait indeed.

The idea that Samsung and Apple are colluding on the hinge development in order to create sufficient demand for the new product, seems mighty queer to me, but it makes some sense. I suppose. In todays climate. However I still do not see how this puts money in my pocket, other than by association.....a long time claim to fame that has never materialized, even though the sim card tool, the pocket knife, the watch bezel, the dental appliances, etc all came with the same hoopla. When somebody stands up and says that Apple, Samsung, whomever, is going to order the parts from Valencia circle, it is just more noise and not music to the ears.

So with Luigi taking over Asia, and manufacturing strategy for the umpteenth time, presumably there is a business plan to accompany this weighty responsibility. And like all business plans, defined by numbers, so that anyone can look at it and understand what is expected. Can we see the business plan? At least stated $ goals and time lines? No? Just more CCP double talk backed by question marks? Great. This US based company never went to busy school and learned the basics of western capitalism. Why should anyone be surprised.

'Professor Lugee Li has been appointed to lead Asia operations......' Really? Who appointed him, the world wonders. Jeez.

Same question remains after ten years: So what do these full time employees do every day???

Our story line continues unabated. Luigi moved everything to China and is keeping it there, Our IP and brand is doing well in China. No outside Valencia Circle shareholder has benefitted accordingly. Other than self aggrandized day traders, what few are still around. Only surprise is that this is not back to a nickel, but the day is young.

Congratulations, we are back to 2016, with the same old BS, the last decade a complete waste as time passes LQMT by. Made money on paper from California real estate, BMG business dead. Where will the money come from for all these
grand manufacturing plans? More 'partnerships' ? Wow that has been sooooo successful for Valencia Circle, good thinking.

This is an entirely typical runup to a conference call, the numbers bounce around, move up on low volume, then sink on no real news. Happens every time for LQMT. Let's see if today is the exception.

As I recall, LL gave up his CEO title due to conflicts of interest, basically sitting on both sides of the table in our deals with China. In case anyone missed it, he is now the head of LQMT Asia whereto everything has flowed, and maintains control of the BoD. So, essentially, he is back to where he was as CEO, just relocated. so what happened to the conflicts of interest?

Lack of records is troubling, but they tend stay within the limits, one reason why I am looking for clarification next week. Don't know how the shares in question were being held, custody pending payment somehow? You are right, how do they voluntarily go out of business without cleaning this up? They all know each other, and the plan. Per usual, they like to do business through a prearranged deal, and then announce the fait accompli.

Perhaps addressing this at the AGM was the plan along, one would think it will be covered. Perhaps, maybe, yada yada. Inscrutable.

I wonder if the promissory notes were torn up and the shares released (returned)? It might have been a planned head fake just to get LL to a temporary lower profile, for some unknown reason. These kind of constant and inscrutable transparency issues are why a Chinese controlled US company cannot be expected to conduct itself to our standards, but rather those of the politburo and CCP. Don't get me wrong, I admire that acumen with which it is carried out and worked in the Far East for many years, where this is SOP. But this from Valencia Circle in California? Really? I guess the place has probably emptied out.

The Federal Government can be picky about who they do business with, they are funny that way, yes?

Chairman Xi has announced the new 5 year plan, we should pay attention to those 5 year plans. This one focuses on reducing dependence on Western technology, and developing their own with focus on the likes of AI, quantum computing, robotics and chips. Have to wonder how Taiwan figures into it, chip capitol of the world. Anyway, they have brand and IP access from Valencia Circle, but further R&D looks like it may be out of China anyway.

Anything that happens on a Friday evening, likely won't be good.

Folks here need to grapple with the idea that that they have invested in a US based company that only really operates in China, and through the various 'agreements' with our 'partners' and surrender of the brand and IP, they have no obligation to pay us one dime. Unless they sell into this market......which they do not. How do we know? Well, examine the revenue stream to Valencia Circle. What revenue stream, you say? On the other hand, they do charge Valencia Circle for manufacturing prototypes, tidbits and orders that however meager, come then go. How much do they charge Valencia Circle? Try to figure that out from the P&L. Of course if Valencia Circle actually ever becomes a profit center, one thing for certain is that those 'agreements' written in the wind can disappear overnight.

I certainly agree with you, and take note of the could be, would be caveats, That is true LQMT speak. And as brought up in the past, the Apple induced sim card ejectors did not lead to fame and fortune by association, for any of us, but I concede that the hinge is a bigger deal. maybe that would push us over the hump. On the other hand, if Apple/Samsung actually hires Valencia Circle for production, we will blow past a dollar and never look back. I give it, one in a thousand. And good heavens, yes, many of us have grown too old for this, instead of growing up 😄

So if Apple is supposed to be (again) our savior and source of hinge revenue, how much of that business will actually go to EONTEC, and how much will go to the new Asian subsidiary of Valencia Circle....and how come that is not the rumor or, in any of the propaganda? Maybe Eontec will pay us a territorial fee some day? That "agreement" is written in the wind to start with.

Apple has the exclusive rights to the CE IP and does not need LQMT Valencia Circle to use it, and EONTEC does not need Valencia Circle to produce it for Apple. I did not see that mentioned in the article.......did you?

December 1994, the massive peso devaluation drove the Tequila Crisis and crashed the Mexican economy. I was giving a presentation to a BoD on a Mexican acquisition when it happened. One of my worst days ever. No mas! Best of luck.......

At first glance it may seem like the the central company automatically prevails over subsidiary rights regarding PE, but that is not necessarily the case especially cross border. Each venue has it's own rules and laws. I have set up any number of holding companies and subsidiaries, to protect against everything from nationalization to IP infringement. If nothing else, it cerates another hurdle to overcome.

Don't know, maybe they want to give Apple a cleaner target for a waiver request, while they distance themselves from Eontec....or about a hundred other possibilities. As FYI eloquently opines, may require an autopsy to find out.