I can only say that Steipp has altered his original story given to shareholders in the November ASHM 2011. This is where he really misled investors in the room with his statements of shipping commercial parts in December.
Now he implies he always differentiated between prototype shipments and landing of recurring purchase order contracts. While he spoke around May 15 (1Q CC and Earnings) he clearly made a distinction. but thru March 6 he was very disingenuous with his words.
One thing I noticed is that he has stopped coughing, because he is now telling the truth: that he has no customers, only clients who are still evaluating. He did fail to say in the video that LQMT is now upfronting monies on a contingency basis for clients who balk at paying up front for the prototypes.
He still doesn't have a total grasp of public speaking, but at least he is a bit more fluent in his presentations, though he comes across as very much milk in his tea, really weak and not really convincing at all in his pitch.
His presentations are: What you see is what you get. He is very unemotive, very lethargic and monotonic.
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