Replies to post #177166 on Liquidmetal Technologies Inc (LQMT)

[Eagle1947]

You speak the truth BUT the share price i $.09 not $.50 !!!!!

[PatentGuy1]

When Lugee first bought 46% of the company, with the proviso that he would become both CEO and Chairman, no one raised any concern about a conflict of interest. At least, I can’t recall any cautionary posts to that effect.

There was a reason no one raised any concerns about Li's conflict of interest for being CEO of both Eontec and LQMT when he invested in LQMT. There was no such proviso for Li assuming the role of CEO of LQMT. At the time of the investment, Steipp's employment package was renegotiated - he was meant to serve as CEO through August 3, 2017 and renewed annually.

On March 10, 2016, the Company executed an Amended and Restated Employment Agreement (the “Restated Employment Agreement”) with Thomas Steipp, the Company’s President and Chief Executive Officer. The Restated Employment Agreement further amended and restated the prior agreement that had been executed on February 4, 2016 (the “Prior Agreement”). The Restated Employment Agreement provides for an employment term from its effective date through August 3, 2017, after which the employment term is renewed annually for successive one year terms, unless terminated by the Company or Mr. Steipp.

(See, https://liquidmetal.gcs-web.com/node/10916/html)

I was personally concerned about Li's conflicts of interest when LQMT purchased equipment from Eontec. It smacked of self-dealings. I don't believe that I posted anything regarding that, but I was concerned. Just saying.

IMO, another reason people weren't concerned about Li's conflicts of interest at the time of investment is because we weren't given an accurate map of the future. Steipp was going to be the CEO; Li was going to become CoB; Eontec and LQMT cross licensed technology; and there was a "partnership" between Eontec and LQMT. "'This partnership positions LQMT well to support design and production globally at a vastly increased pace,' said Professor Li." (See, https://liquidmetal.gcs-web.com/news-releases/news-release-details/liquidmetal-technologies-raises-63-million-partnership-global) LQMT isn't a partner (or at least an equal partner) with Eontec. LQMT is totally at Eontec's mercy. I'm not saying that I would prefer to have Steipp as CEO, but I would be happier with someone who actually performed as a CEO and who tried to fulfill their fiduciary duties to LQMT shareholders - while trying to satisfy the CoB.

And when the stock price went from $.15 to $.44 cents, no one posted a concerned that Lugee would be negotiating with himself in any deal between Eontec and LQMT. But now that the stock price has fallen to $.09, and the manufacturing facility is closing, the conflict of interest concern has been voiced and expounded upon.

Naturally, my concern about conflicts of interest have only grown since LQMT has continued to flounder under Li's control. If we were at $0.50, I'd still be concerned, but now that we have no manufacturing capacity my concerns are only more heightened. When we had manufacturing capacity, there was the theoretical possibility of a manufacturing revenue stream that would be independent of Eontec. Now, all manufacturing revenue streams flow through Eontec.