Our friend Lugee sold approx. 59mm EONTEC shares in the last month for almost $150,000,000 cash ( of which 55mm will be wired into LM any day now).Then the FUN starts. I am expecting some customer order announcements shortly thereafter.
Lugee completed his transfer (selling back to himself under different Hong Kong account) in June before the "ban" is inserted in July.
As we can all see, all businessman (including Li) is highly motivated to shift assets offshore. LQMT is that very offshore account.
Is this unique in China only? No. Just ask Apple where they put their cash pile. They rather raised cash through financing than bringing cash back in US.
"Lugee would likely have to have some high level Chinese government connections to swing that transfer"
Exactly! This isn't just Lugee Li or EONTEC buying into liquidmetal.
This is the Chinese government buying into liquidmetal. And despite the restrictions put on the IP who is going to stop the Chinese government from using this to make anything they want including military products?
They are swooping in on a groundbreaking innovative material while our government overlooks the opportunity while playing politics.
And if anybody doesn't think the Chinese government is involved, just look at the history of Lugee Li and his connections with the government and his business with EONTEC.
I expect once Lugee Li gets control of this company we see a buyout for a few dollars.
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