Liquidmetal Technologies Inc (LQMT)

[$5.95akadawson-m]

The overhang explained:

Despite the fact that most of the trading services are showing only 47.6 million shares outstanding (and a market cap based on that figure) neither of those are correct.

The most recent 10Q filing shows that as of August 20, the number of outstanding common shares is now a bit over 86 million shares.

And the "preferred overhang" that the guy was talking about is that millions of shares of preferred stock were issued in May 2009 and are now being allowed (through Sept 15 IIRC) to convert to common shares at ratios up to 50:1 -- if all of them choose to covert, this will boost the number of shares well over 150 million.

And thus the value of each current share will be diluted down to approximately 1/3 of what many people may think (if they are basing their thoughts on a 47.6 million share base).