Liquidmetal Technologies Inc (LQMT)

[Dell_Griffith]

Wild guess: it's going into the next round of insider bonuses.

Agreed, that makes a lot sense. Chinese investor puts in 8 mill. No other Chinese private investor is able to invest in U.S. equities of over 50K unless you're a consortium led by Wang Jianlin, particularly into a penny stock in the U.S. Lugee's now on the Board, but he's going to OK that money being used for bonuses, but I guess if he gets overruled by the rest of the Board members and he cries foul, the SEC would never look into the duties of board members being given bonuses from a private Chinese investor's money with no revenues being produced.

I agree, that makes a lot of sense. Maybe he'll even vote for them to give him a "salary" of his own money returned to him, while they get fat, dumb and happy off bonuses, while he thinks how lucky he is that he, too, got a bonus, albeit of his own money. Yes, I am picturing that scenario right now. No doubt about it. It's going to happen. No doubt. Here's a reminder of the cover letter Lugee wrote them though (emphasis added on the put right) -

Liquidmetal Technology Limited
Room 906, Tai Tung Building, 8 Fleming Road
Wanchai, Hong Kong

August 11, 2016

Liquidmetal Technologies, Inc.
30452 Esperanza
Rancho Santa Margarita, CA 92688


Re:
Securities Purchase Agreement by and between Liquidmetal Technology Limited and Liquidmetal Technologies, Inc. dated March 10, 2016 (the “Agreement”)

Gentlemen:

The purpose of this letter agreement is to amend and restate Sections 1(b)(ii), 4(m) and 5(b)(ii) in the above referenced Agreement as set forth below:

Section 1(b)(ii):

Subject to the satisfaction (or written waiver) of the conditions thereto set forth in Section 5(b) and Section 6(b) below, and unless this Agreement is otherwise terminated in accordance herewith, the date and time of the issuance of the Second Closing Shares and the Third Closing Shares pursuant to this Agreement (the “Second / Third Closing Date” and together with the First Closing Date, the "Closing Dates") shall occur contemporaneously and shall be on or before December 31, 2016. The closing of the transactions contemplated by Section 1(a)(ii) and 1(a)(iii) of this Agreement (the “Second / Third Closing” and together with the First Closing, the “Closings”) shall occur on the Second / Third Closing Date at the Company's offices, or such other location as may otherwise be agreed upon by the parties. At or prior to the Second/Third Closing, Investor and the Company shall execute any related agreements or other documents required to be executed and/or delivered hereunder.

Section 4(m):

In the event the Investor fails to complete both the Second Closing and the Third Closing by December 31, 2016 (unless such failure is a result of a material failure of a condition set forth in Section 6(b) hereof), then the rights set forth in Sections 4(k)(ii) and 4(j) hereof shall immediately and automatically terminate. In addition, in the event the Second / Third Closing is not consummated by December 31, 2016 (provided that such failure is not a result of a breach by the Company of this Agreement), the Company will thereupon have the right to repurchase all or any portion of the First Closing Shares at $0.08 per share (subject to adjustment for stock splits, reverse stock splits, and the like occurring after the date of this Agreement) on or before December 31, 2017.





Section 5(b)(ii):

Investor shall have delivered both the Second Closing Purchase Price and the Third Closing Purchase Price in a single closing in accordance with Section 1(a)(ii) and Section 1(a)(iii) above on or before December 31, 2016.


The parties acknowledge that the Put Right (as defined in the Agreement) has become null and void. We kindly request that you execute this letter below indicating that you agree with the above Amendment and statements.


Liquidmetal Technology Limited

By: /s/ Yeung Tak Lugee Li
Name: Yeung Tak Lugee Li
Title: CEO


ACKNOWLEDGED AND AGREED:

Liquidmetal Technologies, Inc.

By: /s/ Thomas Steipp
Name: Thomas Steipp
Title: CEO



Read more: http://getfilings.com/sec-filings/160817/LIQUIDMETAL-TECHNOLOGIES-INC_8-K/ex10-1.htm#ixzz4MdAJyrT2