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Friday, November 25, 2016 6:37:47 AM
"With Liquidmetal, ENGEL opens the door to completely new classes of material and product characteristics; metal alloys can now be efficiently injection moulded. As the exclusive machine manufacturing partner of Liquidmetal Technologies from Rancho Santa Margarita, California, USA, ENGEL is the only provider worldwide to offer system solutions for the injection moulding of Liquidmetal materials."
https://www.engelglobal.com/en/at/news-press/news-press-releases/detail/news/show/News/engel-exclusive-machine-partner-of-liquidmetal-technologies.html
Now, we've been told that the technologies do not really overlap; Eon machines are diecast and for larger, less intricate, parts and Engel machines are IM and for smaller, more intricate, parts. Regardless, Engel has invested a large amount of time and a good amount of money in this and exclusive means "exclusive," so how can Eon machines be used for revenues generated by LQMT? Engel's potential customers were introduced to Steipp and Hauck, but they were unable to close even just ONE deal, so far (this is making the presumption they truly had "deals in the works and ready to close), so I wonder how those previous introductions go when the top face, the CEO, is gone from the continuity of those "Leads" intros?
The other issue is the territoriality provision, which I HATE. Eon essentially has all of Asia and LQMT has all of Europe and N.A. So, LQMT could lose all BMG revenues in Asia to Eon. If Lugee is truly interested in bringing up the stock price of LQMT, he'll want as much of a revenue stream as possible into LQMT and closing out Asia to LQMT will negatively impact that revenue stream, while Eon has projected a 33% to 50% drop in business in their core businesses, but if that is the "protection" provision to Engel that Engel machines are to be for LQMT's territories in Europe and N.A., then Asia is closed out to LQMT, potentially because of Engel, and that sucks.
The above is all contractual, and agreed, Engel could potentially affect that Board appointment, but I still see Lugee getting his own guy on Board (you'd think he'd need the consent of the Board members that were there to jettison Steipp, if he was forced out, which it appears he was, otherwise why not ride out his full 12 months?) and I'm thinking Lugee as CEO with Bresnick in place as Lugee's right hand. In other words, if he got the other Board members consent on Steipp, the Board has a lot of shares. They're just wanting money, too, and if they believe in Lugee's plan, and already consented on moving out the CEO of 6 years, who got THEM Board seats and loads of shares for doing squat, I don't see them giving Lugee much resistance in who Lugee wants on Board.
I do wonder about Lily Yao of Leader coming over to LQMT as CFO in that scenario, but I think she'll stay at Leader, for now, anyway.
I think this most had to be made, but geez, we truly are in a state of pretty large flux, but better to be positively fluxed than negatively fluxed!
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