I spoke with Steipp off-line for about 10 minutes after last year's SHM. What is taking place right now is according to Steipp's original ambitious timeline. At the time I was wondering (hoping actually) if Liquidmetal® was going to be able to pull off developing such a powerful network of certified partners, only because 1) its past marred reputation (thanks to Kang) and 2) it was now essentially broke. But now I am convinced that the momentum is accelerating because a few key partners have demonstrated faith in the company and the ball is about to get a whole lot bigger. As Steipp and I continued speaking, it became apparent to me that his timeframe envisioned a profitable second half of the year. We're nearly there!
According to Steipp, had he not come onboard as Liquidmetal's® CEO, there would have been no partnership between the two companies. Apple would do NO business with Kang--period. See, it's not just grabbing an immature technology, it's the continuing symbiotic relationship between two parties to the benefit of both. R&D by both parties will benefit both parties. As Watts mentioned, Steipp has had strong relationships with the decision makers inside Apple--long before the MTA was forged. In the past, Liquidmetal® attempted to do everything in-house, and it was a poor plan. According to Steipp, Liquidmetal® is now modeling after Apple's highly successful business model. So when I hear people whining about Liquidmetal® losing their research team, I just snicker. Steipp said (and this is a close quote), "Apple's sub-contractors spend the money on facilities, equipment, hiring, etc., and they do all the work, but Apple controls the whole thing and profits handsomely. That's our new business model."
Regarding medical and aerospace, these two areas have always been on Steipp's radar, according to him. Steipp is an ex-Air Force officer, so he understands the nature of military acquisitions and how their budget works. And he's going for it! Be patient and long. Although Liquidmetal® will not profit directly from Apple royalties, the collateral benefit should be huge.