If I were Tom Steipp, the CEO of Liquidmetal Technologies, what would I do as I wind down my tenure and consider my retiring some day. What would I do to give LQMT a chance to move forward and become a successful, profitable company?
First of all, let's put this fodder where it belongs. An opinion of obviousness. I am not qualified to judge Mr. Steipp in any way. I do not have the proper education and experience as a CEO, nor do I have any fundamental knowledge of the inner workings of LQMT operations to properly analyze his contribution as CEO of Liquidmetal Technologies.
As I understand it, Mr. Steipp is a vet from the Vietnam era. That alone wins over some big time respect from me. I served under the leadership of guys like him. He's probably a really good guy who like the rest of us, is just trying to get his and provide for his family in the economical system in place in Murica. For all I know, perhaps his ushering in the new dynamic of LQMT from the Kang era could be exemplary. I don't claim that I can realistically judge what he does. Opinions are like a-holes. I try to relieve myself of crap at least once every day. It's obvious that he is not a Steve Jobs or Tim Cook. Yet, he may have/had earned himself a more intimate association with them than I've ever had even being the iPhone fanatic I am.
To start the wheels turning. Let's state some facts, as I understand them.
1. His contract as CEO of LQMT is up in August.
2. He's at retirement age, and just based on my following of LQMT he doesn't strike me as a workaholic with a progressive dream.... Anymore. Like a Musk or older Cook would direct and delegate to others to conduct biz. I am sure he was a believer at some point, may still be. Just saying. Like me he may realize his most productive days are behind him and just isn't that "ambitious" any more. He's had a respectable career and most likely is well respected among his family and peers. To me, he's looking much older since he started his reign at LQMT. It might be that time.
3. He ushered in the necessary LQMT changes from the Kang era. Did his job. Maybe it's time to start a new LQMT era. But, that job may require a different type of leader and thinker than its predecessors. I don't know. Change is obviously needed here. To me anyway, this seems like a reasonable conclusion. For whatever that is worth.
Now, if I were Steipp, what would be the best options to wind down his tenure and retire as a former CEO of LQMT? Assuming that is where he's at? What are his options to make a difference to the future of LQMT, again, assuming he has real authority to make change?
1. Perhaps, let the intellectual property be acquired by a larger company, such as Materion with a share swap and shareholders getting a premium to the current share price in the acquiring company? I really like this idea. If you believe in the tech, you will still own shares of the other company and have a much more broad and experienced infrastructure to implement the technology. To possibly make the tech successful. I can see potential benefit for shareholders to perhaps grow their investment should this be the direction. It's not a home run, but investing isn't supposed to be. What do I know though. I'm just a gambler, a trader.
2. Go ahead and get that dilutive financing done now, take another hit on your rep of diluting the crap out of LQMT shareholders again, get it over with, then do the reverse split and restructure the shares for the future of LQMT. Before, handing over the baton for the next guy to give the technology a good run at success and profitability. At least the new guy has the funds to move LQMT forward, and the share structure/market cap might be reasonable enough to attract new investors money, if needed. For some reason, if this is the direction of the company, I would go about it in this manner and take the hit to my rep(if I were Steipp) to benefit the future of LQMT and its shareholders. I would not let the next guy take the hit on his rep as he attempts to move the company forward, assuming the tech is viable. LQMT may need a restart with a clean slate. I dunno.
3. This is the tough one. Get a handle on the bleeding waste and burn of investors dollars. This may require him to take some hits on the relationships-friendships of the staff. Go ahead and lay off the fat. Reduce salaries, costs, expenses, etc and implement efficiency. Downsize the infrastructure into a sustainable company and give the company a better chance to achieve profitability more efficiently. This is a very powerful struggle to consider. But sometimes you just gotta do what you gotta do for progress to happen. And this should of been done a long time ago in my opinion. Otis, Salad and Chung, maybe even the secretary can survive.
Many other very LARGE and successful companies were started in a garage, by young, hungry, yet ambitious broke people, who had a really good idea. I believe this LQMT is still a doable idea. They are just going about it wrong.
4. There are certainly many other options, like bankruptcy, to negate contracts and etc. But, the above options would be much better alternatives for the believers (shareholders).
A combination of the above? Tom Steipp, God speed in your decisions.
Again. As I stated earlier, I am neither educated enough nor experienced enough to make any of these decisions. Perhaps this fodder is not even qualifiable. These are merely my opinions as I exercise the grey matter like we all do, and has no real effect on what will become the future history of LQMT. BEST OF LUCK! I HOPE YOU GUYS WIN IN THE END!
Let's keep it civil and understand that this is a forum of mostly amateur opinions. I am not here to give advice or argue. The best way to get rid of trolls is by using the ignore feature. And if you don't like what I say feel free to ignore me. Thanx.
