Liquidmetal Technologies Inc (LQMT)

[iateclube]

Some of us were not the least surprised that the $55 million did not get paid on time, and the deal was delayed, or for that matter that the principals were well aware it would be delayed long before Aug 17.
Given the long record of failed performance, it was entirely in character. Li holds nearly all the cards here, because he holds all the money, funds that LQMT cannot survive without given that the excessive dilution has pretty much dried up the public resource.
The only card that Li does not hold it seems to me is Apple's right of first refusal. How does that play out if he intends to hold the majority? The 10K from China cites Samsung and others as having co-operative relationships with EONTEC in the development of CE applications, specifically cases and frames. Apple is not mentioned. Does that mean Apple (which acquired the exclusive rights to the IP for CE to keep it out of Samsung's hands) is not in tune with this Li deal?

Point is, if reasonable people did not expect the Aug 17 deal to go through, there remains plenty of reason to suspect the December 31 deal may not either. So as you allude, don't be surprised if the terms are re-addressed, or the deal falls through. The best hand will probably win.