Its all about ones own perspective.
Some of those execs are still around under Li, others had none to replace them on the Board until recently. Some could have cost the company huge wrongful dismissal claims, They are not highly paid either, 300k is a pittance for execs.
Lqmt was only able to have in-house manufacturing After Engel perfected its machines. Wouldn't want to show potential customers a flawed unperfected manufacturing method.
A start-up is always in the midst until it secures a major contract, being in the midst of shipping prototype parts and orders is not a lie, the problem arrises from the expectations of investors regarding those parts.
You wouldn't want lqmt to Not be shipping any proto parts, that would be a dead company, each prototype kept the company alive regardless of whether it led to an order or not, any start up needs to stay active, each prototype made is more experience earned for lqmt.
The bonuses where stocks, its always used by companies as an incentive for employees to make lqmt a success.
Steipp kept lqmt alive until he found the right partner/financier.
(not including the successful relationships with Engel/Materion/Apple)
Steipp could have tried a GTAT scam and made himself hundreds of millions now, instead he cut his severance package in half and moved out of the way once he new lqmt was in good hands. Very honourable especially considering that Steipp had to clean up the mess left behind by Kang, any other CEO would have stayed until the company was a success only to satisfy their ego and reap the recognitions of their peers, but not Steipp, he stood aside before lqmt becomes successful. A very noble man. He has always done what is best for the company.
Lqmt is not bankrupt, no reverse split.
Lqmt has BMG monopoly with CIP.
Lqmt has the worlds only BMG Injection machines made by Engel.
Lqmt has a billionaire CEO with huge manufacturing plants in China, new formulas and patents too.
Steipp made all that happen and if he could have done it sooner he would have.
The Only Difference Between a Short-Term and
Long-Term Investment is Stock Performance. ~Unknown.
