Yup, its pretty pathetic. Like I have always said , management at LQMT is doing absolutely nothing. I cannot understand the deals they have made. They have effectively locked the whole business into a handful of license deals that bring them absolutely nothing.....or so it seems. Lets start with Apple: a deal in which managent sold the most lucrative industry license that LQMT should hope to be in, one in which if Apple uses the product could equal 10's of billions in revs, for a measly 20 mil. Then management turns around and contracts Visser to do all other manufacturing for all other liquidmetal licenses, sells Visser these licenses, and then gets locked up and cannot manufactur anything for anybody. That is basically all LQMT has or had. I just hope that the Apple deal will be amended soon as the MTA is coming near end.
Another thing, that really burns me up, the verbage in yesterdays filing where they speak of anti takeover of the company and the golden parachutes they put in place because they know if the company does get taken over they are gone. I like how they state that even if a takeover were possible that would be in the shareholders best financial interest, that they would not sell. Also, that shareholders dont have rights to hold special meeting to oust mangement. Well, usually when you run a company in the ground, you lose your job, and I think the courts may have a few things to say about these statements. It seems these scumbags have got a death grip on LQMT and are doing and will continue to do nothing to increase shareholder value, all the while sitting back and drawing six figures a year, with bonuses, while Liquidmetal makes no profits. Should it make you feel like a crook when one director makes more money in salary than the whole company made the whole year?
Apple is the only hope for this company.
We should ban together as investors, all 220 of us, and figure out how to organize legal representation to defend our investments. I am a trader, but have been an on/off investor in LQMT since the Apple deal. I happen to have raised a rather large position, and will most likely get destroyed at the open today. Thanks management. Thanks for you timely and not needed prospectus of how you are failing and will continue to fail.
