One would assume that there would be no direct revenues from Hon Hai to Lqmt for the manufacture of the parts....but we don't know. Hon Hai is essentially an assembler, who buys parts from many subcontractors who make these parts to Apple specs.
what we do not know is
1) what revenue streams, if any, that are generated to LQMT from the LQMT-Engel partnership, as far as the machine sales (a one time deal)
2) what revenue streams, if any, that are generated to LQMT from the LQMT-Materion partnership, as far as recurring deliveries of liquidmetal alloys made to Apple spec by Materion.
3) in fact we do not even know whether or not Liquidmetal has any partnership with Liquidmetal for the injection molding of parts. this would be a stretch. It really depends upon how Apple sets up the contract manufacturing, in this case. It may be that Hon Hai will need regular tech support from Liquidmetal, if not Apple's Andy Waniuk.
Without facts, one can only speculate.
Overall, I think the market has discounted any possibilities of direct revenue from Apple. Should LQMT develop a relationship with other non-exlusive contract manufacturers like Visser, and one of Apple's assembly contractors buys parts from such an entity, well, that opens future possibilities.
Best to deal with what we know: LQMT is focusing on selling parts to Aerospace and Medical.
This view has been published by several others....in fact, by management itself, for more than 8 months.
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