Liquidmetal Technologies Inc (LQMT)

[The Paraclete]

Finally: A Practical Business Plan that Makes Sense

We can look at this company as having 3 distinct eras.

1. From a $15 stock to a $.05 stock. (2002 - 2010)
Business plan: 'Throw enough stuff against the wall and hope that some of it sticks.' They hoped to take advantage of the the fact that their alloys were stronger than titanium and could be molded like plastics. The problem: injection molding machines capable of using their BMG alloys were not developed until 2012 - 2013. Instead of selling product, they sold hype. The $50 million raised in the IPO was squandered.

2: Dilution with no solution. (2010 - 2016)
Business plan: 'Fund operations by licensing the technology.' The problem: No one wanted to lay out millions to buy IM machines to make parts with an unproven technology (except Visser… and we know how that turned out). So capital had to be raised by diluting the stock 5 fold over 6 years.

3. The China Road. (2016 - Present)
Business plan: 'Use 5-6 years worth of cash on hand to build the business and fund operations, and side-step Apple’s restrictions on CE.' Problems? Remains to be seen.