Liquidmetal Technologies Inc (LQMT)

[The Paraclete]

Nice work, JoTu. AAP makes metal parts. Leader does not. AAP could be the customer. It depends on the parts in question. E.g., the shafts and ball heads referred to in your post are too large to be made out of amorphous alloys. The smaller braces that stabilize fractures and mal-alignments are not too large. But I still doubt that AAP is the customer.

Instead of looking at AAP (and Leader), if small metallic stabilization plates are the parts that LQMT is making, I'd put my money on Arthrex. Remember that Arthrex almost signed a deal with Kang, so they were interested in amorphous alloy parts. In addition, Arthrex, is a huge company compared to AAP, so Arthrex is much more likely to be in position of requiring a volume recurring order with monthly shipping. AAP? Not so much.

When surgeons were asked, “Which company selling foot and ankle surgical products do you believe to be the market leader?” they pointed to three companies:
Wright Medical at 32.3%
Arthrex at 23.4%
Synthes as 22.7%
The next highest after Synthes is Stryker at 7.8%.

https://ryortho.com/2012/03/new-survey-reveals-top-foot-and-ankle-suppliers/