Liquidmetal Technologies Inc (LQMT)

[chipboarder]

Visser's Warrants----As long as I'm in the writing mood, I might as well comment on the upcoming warrant expiration. I think my numbers are correct (or at least close). Visser has warrants to purchase 18 million shares at something like $.18 each. It could work out this way--

>>Visser gets a check for $3.2 million, gives it to LQMT and they issue 18 million shares (and deliver the certificate). LQMT sees 2% dilution from the additional shares and Visser has $3.2 million tied up in a semi-liquid stock (I'm being kind). Overall not a good outcome for either party..But LQMT does get the $3.2 million. Visser's stock has an intrinsic value of a few pennies per share that measures in the hundreds of thousands (not millions) coupled with limited liquidity.

>>Alternatively LQMT could purchase the warrants from Visser for say $1.2 million, thus giving him an assured profit of $1.2 million without the hassle associated with disposal. Visser gets a guaranteed return and LQMT doesn't have to dilute the outstanding shares but it costs us the $1.2M plus the opportunity to collect $3.2 million for the sale.

>>Could be a good reason to "wish" the stock price below the $0.18 exercise price...at least until mid summer when the warrants expire worthless and LQMT doesn't have to dilute OR make a deal that costs $.