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Wednesday, May 23, 2018 11:24:16 AM
From a recently published article (see below), we know that "an existing customer (not identified) is in negotiations to buy a second Liquidmetal machine." Who is that existing customer, and what are the implications?
It has to be a company that already owns one of those machines, if this is to be their second. That rules out LQMT, as they already own 2 machines. As far as I can tell, Eontec doesn't own any yet. The only other company that owns one of those Engel machines is VPC. They were the original contract manufacturer for LQMT and they acquired their machine in 2013.
Engel can only sell those machines to companies that are licensed by LQMT (see below); and while Visser Precession Cast (VPC) is a licensee, it's not clear from the agreement that they have the right to purchase additional machines without LQMT's permission (see below). But even if they can, it seems odd that VPC would have enough business making BMG parts to justify a second machine when LQMT - the company with all the design engineers - doesn't yet have that volume of business. So the questions are: 1) is VPC the unnamed company; and if it's not VPC, why has LQMT granted permission to place said machine in the hands of another competitor? The reason is certainly not to make a few thousand dollars on a royalty fee from Engel. So is VPC (or some other unnamed company) and LQMT planning a joint manufacturing venture to fill an up and coming large order? - I don't know, but it's an interesting speculation.
Citations:
Engle statement about selling a 'second" machine
http://www.themoldingblog.com/2018/05/08/engel-execs-describe-liquidmetal-commercialization-as-slow-and-challenging/
From the 10-Q. filed 3/5/2015 https://liquidmetal.gcs-web.com/node/10786/html
1) "On December 6, 2013, the companies [LQMT & Engel] entered into an Exclusive License Agreement for a 10 year term whereby Engel was granted an exclusive license to manufacture and sell injection molding machines to the Company’s licensees in exchange for certain royalties to be paid by Engel to the Company based on a percentage of the net sales price of such injection molding machines."
2) "Under the amended and restated sublicense agreement, the Company [LQMT] has granted to Visser a fully paid-up, royalty-free, irrevocable, perpetual, worldwide, non-transferable, nonexclusive sublicense to all of the Company’s intellectual property developed on or prior to May 20, 2014"
Recent LQMT News
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