So the big question remains: Why was the CC delayed?
They were actually pretty clear on that point. They said it was a loss contingency. That's pretty specific, although it's written in SEC vernacular.
The narrowed questions are how much merit does the claim have and who is it? I think it's probably one of two parties - Visser for sour grapes (and seeing those embarrassing photos of his "shop," while he thought he'd be doing "big-time" manufacturing, along with dumping a boatload just before the price spiked 100%) or a disgruntled former employee being shown the door prior to this deal being signed and HYUGE changes in the BofD and expected direction of the Company. The only negative is that if someone is suing on the basis, the longer LQMT takes to see appreciation, the stronger LQMT's case is if the issue is that LQMT did not disclose to the party suing that all this was going on, but then you get back to whether LQMT owed a duty to disclose to a shareholder who wasn't even part of the BofD.
Can speculate on it forever. You're right, we should find out soon enough. I don't think it's much ado about anything, as if it was, they could have waited it out even further.
As an unrelated aside, and by default, this is probably the first time in a LONGGGG time, that they have released "earnings" on a Monday.