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they done even have one now.. infact they dont even have a premesis.
https://sfbi.net/clients/
not listed as a client at the Santa Fe business incubator.
this isn't a "massive deal" this is a company who is not on the nasdaq buying a bankrupt company that is listed to get on the nasdaq at a bargain price.
They sold off there IP ( probably to a patent troll ), they have sold all there assets and now the last thing they have of any value is there listing.
It doesnt matter how much the stock continues to crater ( and crater it will) because they will continue to issue enough new shares and r/s to keep the listing.
All Sigma investors will have lost all there money
Its a shame they didn't cotton on earlier to the other potential industries they could have sold into. The technology was fundamentally based on analysing image stacks.
They could have made as pretty good tool for analysing CT scans and spun it off into a different product.
If you look at the likes of Interspectral AB they seem to have approached things in a better way.
The hardware offering SASI offered was very, very good but sadly looks like it was nixed by OEM's playing hardball and cockblocking sales with threats of voiding warranties for the whole machine.
Another one bites the dust.
Ron fisher just left
No CTO
No Sales team
No technical team
No USP
Bankruptcy incoming
Conference call cancelled..bankruptcy incoming methinks!
https://www.businesswire.com/news/home/20230504005478/en/Sigma-Additive-Solutions-to-Report-First-Quarter-2023-Financial-Results-on-Monday-May-15-2023
Where did you find this?
Additive industries now has no mention of sigma labs on the product spec sheets.
So the opportunity for revenue via subscription initiated via OEM sales is...ZERO.
The fact everything Sigma is doing is being done better by Interspectal AB ( a European company so most OEMs will prefer to work with them) and there hardware parents are worth ZERO as they have abandoned selling hardware I just can't see how any financials can work.
Most of the technical team have been fired or left. They are still a software company with NO CTO.
Sigma is now just the management milking it for as many paychecks till it finally goes bankrupt
Looks like DMG Mori showed Sigma the door
https://medium.com/@Phase3D/phase3d-and-dmg-mori-announce-research-collaboration-initiative-31210a0cca49
Lots of talk of "collaborations" "partnerships" and "on product council" but no major CUSTOMERS.
Collaboration is just corpo speak for " customer who has a vague interest in our product but doesn't have enough faith to actually put the money in.
How long they got now before delisting and thus bankruptcy?
Good luck! Just looked on amug website and there not exhibiting.
No moolah for a booth methinks
Talent bankrupty.
Does no one else see what i'm seeing?
they furloughed multiple employees
they laid off multiple employees
multiple talented people have left and not been replaced
they have no CTO
they have almost no cash in the bank
changing there corporate policy so CEO and CFO get a nice cash bung if things go pearshaped.
people have spoken about there technology ( photodiodes). They mentioned in there last quarterly call they are ditching hardware to become a software only solution. So the value of all the millions they spent of investor money to develop the very best hardware has just gone to ZERO
The IP patents they have -- zero value
there only one forecast for PPS -- going to ZERO
another talent leaves.
https://www.linkedin.com/in/brett-diehl-6bba74116/recent-activity/
If you look at linkedin it doesn't look good.
Darren Beckett - CTO is now looking for work as is Roger Frye.
Lots of other long serving people left.
Alberto Castro - senior applications engineer - looks like he has been there from the beginning. Now working for Xerox.
Luis Aguilar - appications engineer - had a few years there. Now at meta.
Richard Proctor - applications engineer - there for number of years. Now at mark3d
Leander Wilcke - technical sales engineer - there for a few years - now at UL
When you look at the makeup of the employees there's a lot of sales and not a great deal of technical.
oh and another thing. Given all these develop networks they are joining and being " software only" what exactly is Sigma's value proposition? Almost all of the OEM's have there own monitoring systems. The argument could have been made that Sigma's previous value proposition was that there hardware offering was functionally superior but what now?
the key question to ask in the next investor call to really gauge the level of value.
Has there ever been a case whereby sigma's technology in its current or previous iterations has demonstrated the ability to...
1) catch a build defect during the build and alert a decision maker to take an action that leaded to a cost saving.
2) successfully categorize any type of defect post build that lead to a cost saving
3) has there ever been an independent analysis by an industry body or a partner company that has shown a ROI greater than the cost of the product?
i strongly suspect the answer to all 3 is NO
yeah materialise did toss Sigma. Right into a flagship hardware product.
https://www.linkedin.com/posts/richard-proctor-153b6977_3dprinting-industryleaders-formnext2019-activity-6603412622492614656-p77Q/
I agree. Looking at the future I think we can say that things are starting to progress.
The webinar was a really nice boost. It lets us see that they do actually have a product thats polished and ready for commercial use.
Combine that with a collab with ANSYS and Materialise shows that the product is now beginning to not only see commercial viability but...
integration into wider product ecosystems. This is wildly important. I dont see ANY melt pool technology that is open and thus compatible with existing in wider ecosystems.
is anyone else getting tired of certain folks spamming the board with negative one liner posts?
If you have so many negative thoughts why not summarise them in one single post?
Rather than spamming out the board?
Yeah clearly spamming. Prob got a short position.
Someone doesn't keep abreast of the case studies put out
https://sigmalabsinc.com/wp-content/uploads/2018/11/In-situ-Melt-Pool-Thermal-Signature-Defect-Detection-Recoater-Failure-Using-Co-Axial-Planck-Thermometry-2018.pdf
Page 5 shows it.
Seriously, it baffles my mind how many people disparage sglb with very little understanding. If you have a few K invested like me it behoofs you to go visit them at the trade shows.
Talk to the guys!!
if you're referring to me I'm not an engineer. I just spoke to one of their guys at formnext 2018
Interesting to compare.
EOS is running a single photodiode on axis and at below a emerging standard of data acquisition (50 kHz)
I have spoken to folks around trade shows and EOS problem is that it just gives you data. Imagine getting a car and the Speedo just say 1-100... No units just an arbitrary scale... So you have to do all the work to translate it.
I don't really know what Dr Pilch age has to do with anything. It just comes down to this.
If I was building a system which monitors and melt pool which is entirely based on monitoring light I'm going to pick the guy whose while career is based on lasers and spectroscopy over a welding metallurgist every time.
My guess is SGLB realised this and realised the old approach was a technical dead end.
Hence why so many seem to be talking about "oh the product never worked".
Well guess what guys. That's what product development is.. look at the rate there churning out whitepapers now and the speed of innovation. Was SGLB ever in the ballpark of comparing to CT under MC?
Marc Cola and Vivek were all old school welding metallurgists who didn't grasp the nuances of metal AM.
Look at the developments after MC left. All kit on axis, higher resolution and data acquisition speeds.
Have a look at who the chief scientist is at the moment. Dr Pilch is a super experienced guy with laser and spectroscopy.