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It 500M shares as the other half is locked up due to Eon stock pledge. FYI, $1B-$5B is considered small cap. $0.5B is micro cap.
It is very likely and easily attainable.
https://www.techradar.com/news/a-mysterious-asus-flagship-appears-on-geekbench-is-it-the-zenfone-7
New Asus Zenphone coming with same flip camera module.
If each of the 90 machines can generate $2M (each) in sales annually, then a 6% cut of that would be over $10.8M annually. Our operating expenses have been cut to $4M annually. So this put the company well into the green and the share price well over a dollar.
Yes, and the increased use of sapphire which is good for us as sapphire is 100% compatible with BMG. That was the initial plan, a BMG/Sapphire iphone.
https://www.patentlyapple.com/patently-apple/2014/05/apple-acquires-21-luxvue-patents-with-some-using-sapphire.html
Yes, this goes along with the use of BMG for microled's as a support structure. Microled's are going to be the future and Foxconn as well as others have invested heavily in this technology as it uses much less energy than current displays.
Probably Chung...
106C is OUTSIDE of CIP and therefore MAY be available for CE.
106C is OUTSIDE of CIP and therefore MAY be available for CE.
106C is OUTSIDE of CIP and therefore MAY be available for CE.
"Apple is expected to complete its second-phase engineering validation and testing (EVT 2) for its upcoming 5G iPhone series by the end of June, paving the way for volume production in July, according to industry sources."
This is interesting timing for this working capital loan. We know Apple likes to use multiple vendors, perhaps Eon will join Foxconn in some level of production.
Apple 5G iPhones expected to begin volume production in July
Aaron Lee, Taipei; Steve Shen, DIGITIMES Wednesday 10 June 2020
Apple is expected to complete its second-phase engineering validation and testing (EVT 2) for its upcoming 5G iPhone series by the end of June, paving the way for volume production in July, according to industry sources.
"Next move, Apple/Samsung. It is rather clear both companies have sent RFQ to multiple vendors (including Eontec).
Note choice of material should not be limited to BMG only.
Rather it has to be any "finish" material that can meet the requirement spec.
Note not all "COLA" are created equal.
Let the best technology win. This is how everything should be."
Exactly, Apple only cares about which vendor can provide the best product at the best price in the volumes required. If Li can "make the cut" then we will have another customer.
Why AA has a chance...
Route structure, we connect the most people inside the USA, and our hubs are not in current hot spots so our fundamentals suck the least at the moment. (IF DFW becomes the Next NYC then all bets are off). At the moment, United not only has the hangover of Europe. But their biggest hub is Newark, aka Corona Central.
Financials, There is Debt, and then there is the STRUCTURE of the DEBT.
United's structure sucks and they have big balloon payments coming in the fall. IF you were back here around 07-08 you remember "The wall in the fall" when we had big debt payments coming due. Fortunately they came due BEFORE the financial crisis hit, and they were able to simply remortgage the same assets again. (Basically roll the debt over). That is NOT an option for United right now. THey are going to have to pay the debt, but they are unlikely to be able to roll it as no one wants airplanes right now.
Delta has similar problem but no where near as extreme. The basic problem is that an old fleet is only worth 12cents a pound for scrap aluminium. They might be worth 5 or 6 billion dollars. But no one is going to loan against them even at 50 cents on the dollar of value, at any price as United just found out 2 weeks ago.
We have a lot of debt. But its all operating or capital leases. (The distinction doesn't really matter). There are no balloon payments, and the debt is tied specifically to aircraft at very favorable rates, So we aren't staring at a big single payment like United is in the fall.
So the hope is that we can leverage our better domestic network and newer fleet to gain market share there, and just bump along till things turn (While possibly increasing overall market share.)
Its a risky strategy that I actually like. It also means that lots of flights are going to cancel for the foreseeable future as they throw a million flights into FOS and see what sticks.
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Andrew's discussion is accurate. And, I might add, it appears both Delta and United are going to be forced to draw down their operation more than AA.
Delta's mainline fleet is old and they are removing all of their MD-88s,/MD-90s and a large number of their B717s and 7ER aircraft from their domestic operation, which could result in 7000-7500 excess pilots in the near-term and 2500-3500 excess pilots next year.
United is suffering internationally in Asia and Europe. Newark is the most profitable hub in the U.S. and as Andrew indicated it is "Corona Central." United's recent Displacement Bid
In my opinion, CEO Doug Parker, President Robert Isom, CFO Derek Kerr, and SVP of Network planning Raja Vasu are taking somewhat of a risk in how they're positioning our company for the future ff the virus is not contained, a vaccine is not developed by a biotechnology company, or demand does not come back fast enough.
AA is reducing its ASM's the least amount of the three network carriers (creates an industry leading cash burn rate), it is keeping all of its hubs intact, it is not reducing its RJ feed operation because these smaller jets better match capacity with demand, and in our case unlike at Delta or United, AA & APA have negotiated industry leading LOA's in an effort to prevent furloughs.
The strategic plan appears to be to position AA to take market share away from Delta and United if these two companies pull down flying as indicated. According to the DCA Director of Flight Keith Firmin on tonight's DCA Town Hall meeting, indicated CLT, DCA, & DFW are the company's most profitable hubs. If other airline assets become available (gates, slots, etc.) AA intends to go after those assets. In addition, Captain Firmin indicated the LOAs are intended to prevent furloughs, if possible.
By keeping the majority of AA's fleet in place (115 E190, B757, B767, A330, a few other mainline aircraft, & some RJs are coming out of the network) than our primary trunk airline competitors, not furloughing pilots and other employees, it appears AA's "executive suite" is positioning to rapidly rebuild the network while the other companies are in the middle of downsizing, furloughing, and then trying to turn the switch off.
As far as liquidity, yesterday Kerr disclosed to Wolfe Transportation airline analyst Hunter Keay (who I believe is very bright), that AA's financing plan is to first secure the CARES Act loan at attractive rates. Then if necessary AA could access the equity market (a secondary offering) or the debt markets (bond sales) using its Property, Plant, & Equipment (PPE) assets (owned aircraft) as collateral. In addition, AA's Citi and Barclays credit card awards/miles are higher than the company indicated on the Q1 financial results conference call. In that call Kerr was vague and seemed to indicate this asset was worth between $10-$12 billion. However, yesterday Kerr told Keay it's between $18-$30 billion.
The challenge is nobody at AA wants to see the company add to its debt load. Yesterday Isom and Kerr indicated their plan is to rightsize the airline in 2021 to be cash flow positive. With money coming into the corporate treasury management intends to pay down the airline's debt as fast as they can to repair the balance sheet.
The good news is their strategic thinking and plan could prevent furloughs, allow AA to take market share away from other carriers, and over the next 3 to 5 years create a much, much stronger balance sheet. The bad news is that it's unlikely we will see a new contract for the foreseeable future.
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On tonight's DCA Town Hall seven key additional points were made (comments paraphrased):
1. The company does not expect training to commence that is generated from the Vacancy/Displacement Bid until August to complete the backlog of training created by the closing of the DFW Flight Academy and CLT Flight Training Center. In addition, new equipment training is not expected to be completed well into 2021.
2. Tonight the company offered additional VPLOA and VSTLOA's per LOA 20-001. APA's Negotiating Committee (NC) has approached management a couple of times to lower the VPLOA age limit or offer a VPLOA for a 2 or 3-year term regardless of age, but so far management is "not interested" in changing the VPLOA's provisions.
3. APA NC Chairman John Karim indicated that both AA management and APA believe preventing furloughs is "very manageable." Network Planning intends to further increase the schedule July 7, 2020. Unlike Delta and United, who do not have a lot of near-term age 65 retirements, AA has 2,396 age-65 retirements between May 11, 2020 and May 11, 2023. From now until December 31, 2030 AA has 8,437 age-65 retirements. The company's strategic plan, which has some risk if passenger demand does not return, is to over staff the airline with more pilots onboard than required to be in position to capture the "revenue rebound." AA's pilot attrition is in our favor to prevent furloughs.
4. DCA Director of Flight Keith Firmin on tonight's DCA Town Hall meeting, indicated CLT, DCA, & DFW are the company's most profitable hubs. If other airline assets become available (gates, slots, etc.) AA intends to go after those assets. In addition, Captain Firmin indicated the LOAs are intended to prevent furloughs, if possible. Captain Firmin indicated AA has an appetite to obtain additional DCA slots, if they become available.
https://global.techradar.com/en-za/news/apple-airpods-studio-release-date-leaked-and-theyre-coming-very-soon
Look like the same headphones in the Apple BMG patent uncovered last year.
Not to my knowledge, one of JB's reports had a link to CYYT's financial statements which showed the revenue and profits for 2019 (JB did get that much correct). What he got wrong was that this was all aluminum and magnesium alloy revenue (mostly auto) at present. Recently posted here were the approval of funds for the BMG R&D Center (it wasn't a huge sum). This should be under construction. And the last phase will be the large scale production facility. So Eon will have another facility in addition to Yihao. We don't know the exact timeframe for this facility. They are likely more busy setting up the large manufacturer's like Foxconn and Luxshare as this is the fastest way to mass production for the whales.
Phase 1 is complete and in service. Phase 1 is strictly aluminum and magnesium alloy production and is in service.
Phase 2 is BMG R&D facility. Funds were recently allocated and construction should be soon.
Phase 3 is BMG production facility. This is not started yet and probably will in summer 2021.
500 DC is the model #, he didn't state how many as we do not know.
Not to get too technical, but the basic principle is the creation of an “SRF cavity” via Niobium which allows ultra high ref transparency. Hence ideal for 5G signals.
https://en.wikipedia.org/wiki/Superconducting_radio_frequency
Yes, the magic ingredient for 106C is Niobium. Niobium has the greatest magnetic penetration depth of any element on earth and has there made 106C far more RF transparent than any other metal or alloy that could be used in a 5G device. 106C was literally developed for 5G. The beauty of it is that it is cheaper too. Win-win for LQMT.
They then realized that this is also suitable for medical and auto. So they moved away from 105 and just market 106C now as it is cheaper and still meets the needs of medical and auto (industrial) applications. Wide spread use of 106C is coming, just need to stay patient.
You need to understand that you will not be able to track the machines if they do not leave China. This is not public information until they get shipped out of China. There could be manufacturers with 100's of machines in China and we will never know. We had no idea Yihao had as many machines until we were informed by LQMT. [t][/t]
Here is another article about Luxshare getting into the camera module production business two years ago. Becoming the supplier to major Chinese smartphone companies like Huawei Technologies, Xiaomi, Oppo and Vivo. All of which are using BMG in their camera modules.
The picture is coming more and more into focus...
https://asia.nikkei.com/Business/Companies/Apple-supplier-Luxshare-plans-camera-module-IPO-as-next-leap
It also makes perfect sense to start out with a liquidmetal watch as the face can be sapphire or a sapphire coated glass. Sapphire and LM are the perfect combination to be molded together for a "unibody" contraction. That was the grand plans years ago until GTAT folded. They are still working on synthetic sapphire.
https://www.investorvillage.com/smbd.asp?mb=6772&mn=61&pt=msg&mid=13583895
Thanks for sharing, I forgot about the connection of Huai Bin Xu being on both the Boards of Luxshare Precision Industry Co. Ltd. and our Dongguan Eontec Co., Ltd.
https://www.wsj.com/market-data/quotes/CN/XSHE/002475/company-people/executive-profile/137739723
That definitely shows a relationship between companies. As previously noted, Apple needs multiple suppliers and we know Foxconn is one. Luxshare rivals Foxconn in size, they are a big player. They have been in merger discussions with Catcher for a year now. Luxshare is certainly a major player and could fulfill large order needs.
Correct, the translation is not exact...
Not sure where you got the text you posted...do you have a link?
The one section in your text states "According to foreign media reports, the content of a patent application document disclosed on Tuesday showed that Apple seems to be planning to use the material concept developed by Liquidmetal Technology to create a "touch surface" including a screen. This patent application was first filed in 2012 and its main Describes the method of using a "bulk solidified amorphous alloy" array on the device substrate and makes the so-called tactile surface with integrated functions of sensing, driving and multi-function circuits."
Here is an article I found referencing this:
https://www.bitfeed.co/2020/05/20/apple-patents-a-new-kind-of-trackpad-for-the-macbook-pro/
I found the patent, I think...
https://patents.justia.com/patent/10656719
Although it doesn't specifically reference "amorphous alloy", it states: "The input surface has a partially-flexible metal contact portion defining an input area, and a group of indicators."
A partially flexible metal is broad, but certainly BMG would be the best choice for the design in this patent. I have noticed that Apple just uses very generic terms in all their patents now (such as "metal", instead of aluminum, ss, BMG, etc...). The do this for all materials, they keep it very broad now.
It’s zirconium, just wasn’t translated properly by google.
Here is another Q&A:
a123 Ask Board Secretary Zhang Chunlian 2019-05-22 11:17:42
What is the competitive advantage of the company's "liquid metal" technology in the industry?
2019-05-22 15:51:56 Zhang Chunlian, Secretary of the Board of Directors
Hello! As the industry's earlier liquid metal research and development enterprises, with the world's largest production line of tantalum-based amorphous alloys, by the refining of materials, mold manufacturing, precision processing, surface treatment and the production of amorphous alloy equipment manufacturing capacity. The company has made industry-leading position in the application research and industrial transformation of block amorphous alloys, and has the core key technologies of independent intellectual property rights in alloy composition, molding technology equipment, etc., especially the company has the core advantage stake in key technologies and process difficulties such as large forming and surface treatment, and successfully developed and produced large-shaped block amorphous products. Thank you!
Thanks for that link to the Eontec Investor Relations Conference. There is a Q&A that can be translated to English, here is a part of it:
1232019-05-22 16:10:34
May I ask the company this year in the market development of what plans? Can you talk about it in detail?
2019-05-22 16:44:29 Finance Director Li Wenping
Hello! Thank you for your interest in the company. New energy vehicle products, liquid metal products and biodegradable medical magnesium bone nails are the company's three major development priorities, the company will continue to work deeply in the new energy vehicle products and liquid metal products, in the service of existing customers on the basis of continuous development of new customers, the introduction of new products to meet market demand. Promote the company's biodegradable medical magnesium bone nail clinical declaration work, and strive to obtain clinical approval as soon as possible, into the clinical stage. Thank you!
a123 Ask Board Secretary Zhang Chunlian 2019-05-22 11:23:35
It is said that 5G mobile phones are no longer suitable for metal covers. What impact will this have on the company?
2019-05-22 16:37:55 Finance Director Li Wenping
Hello! Thank you for your interest in the company. The company has mass production of mobile phone products are mainly FACE ID bracket, camera module, medium frame, etc. , the rapid development of 5G mobile phone will be conducive to the company's liquid metal products market expansion. Thank you!
Pretty impressive....can you name any other publicly traded company where insiders own nearly half of all common stock? I am very impressed. Thanks for this info.
BYD is a supplier to Apple:
https://www.apple.com/supplier-responsibility/pdf/Apple-Supplier-List.pdf
https://www.idownloadblog.com/2020/01/02/kuo-apple-suppliers-2020/
Remember Apple needs multiple (at least two) suppliers for any product/material they use. We know Foxconn supplies BMG. Now we know BYD is producing BMG. And of course, Yihao can produce BMG.
Glad you are back Josh. I believe based on the publically made specs of the "liquid metal" used in Huawei's hinges, we concluded it was in fact 106C...no?
Because "liquid metal" is already the common term in China. It is used everywhere there. Branding is not critical there as it is Eon's territory.
Eon does NOT make the machines. Shenzhen Li'an Liquid Metal Equipment Co., Ltd. is the JV that actually makes the machines.
They are a JV between Eon, Anke, and LQMT China. Therefore you will not see machine production in Eon reports.
https://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sl=auto&sp=nmt4&tl=en&u=https://www.qcc.com/firm_14a606a7bb7b5acc94b721748129df0f.html&xid=17259,15700021,15700043,15700124,15700149,15700168,15700186,15700190,15700201,15700208&usg=ALkJrhiZQb9-hydpC6wYGyUR6vjnK8gFlA
Shenzhen Li'an Liquid Metal Equipment Co., Ltd.
Subsisting
Tel: 1582095**** official website: no
Address: Company 201, Building A, No.1, Qianwan 1st Road, Qianhai-Hong Kong Cooperation Zone, Shenzhen ( near Shenzhen Qianhai Business Secretary Co., Ltd.)
Shareholder information
Shareholding structure chart & suspected actual controller
Serial number Shareholder (sponsor) Shareholding ratio The amount of capital contribution (10,000 yuan) Subscription date
1 Dongguan Yi'an Technology Co., Ltd. 40.00% 20 million yuan -
2 Anke Company Limited 35.00% 17.5 million yuan -
3 Liquid metal co., ltd. 25.00% 12.5 million yuan -
This is why BRAND matters. And why large amounts of money were spent to protect that brand.
If Apple uses BMG, they will use Foxconn to manufacture it. We would never know if, or how many machines Foxconn has as this would all be done in China and we have no access to this information. We do know that Eontec has a contract with Foxconn and has had a contract for 3-4 years now. And the purpose is to provide assistance with BMG manufacturing. We also know that Foxconn (China) has a BMG division. So "following the machines" in this situation will not work.
This article matches my post pointing out Ming -Chi Kuo's predictions to the actual patents found soon after:
BTW: "injection molding" of metal by Apple is a pretty clear statement of what metal that will be....
https://www.macrumors.com/2019/09/25/kuo-2020-iphones-to-boast-redesigned-metal-frame/
"In his research note with TF International Securities, Kuo says Apple will change its flagship ?iPhone? design "significantly" next year. Specifically, the new devices will feature a new metal frame with "a more complex segmentation design, new trenching and injection molding procedures, and sapphire or glass cover assembly to protect the trench injection molding structure."
https://patents.justia.com/patent/10131022
"As shown in FIG. 6, mold assembly 600 may include a surface onto which transparent member 16 can placed. Surrounding that surface can be a groove or trench 610 into which the bulk-solidifying amorphous alloy material may be positioned to form a band around transparent member 16."
AND
"As shown in FIG. 7, the heated bulk-solidifying amorphous alloy band 12 can be positioned in groove or trench 610 and bent around transparent member 16 as shown by the direction of arrow A. Once completely surrounding transparent member 16, any excess band 12 can be cut and joined to the remainder of the band by further heating or using other conventional joining techniques to form a seamless bulk-solidifying amorphous alloy housing 12."
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=152671036
No... it was not a concern until the issue was raised by an external party. So at that point, the reached out for a legal opinion which takes many months. In the meantime they put this language in there.
Who were they litigating against at that time? Think about it.