Technology

Liquidmetal Technologies Inc. (OTCMKTS:LQMT) Touts Production Milestones

Liquidmetal Technologies Inc. (OTCMKTS:LQMT)

Liquidmetal Technologies Inc. (OTCMKTS:LQMT)

Shares of Liquidmetal Technologies Inc. (OTCMKTS:LQMT) gained 10.8% after the amorphous alloy developer said it achieved major production milestones in the medical and automotive markets in Q3. During the quarter, the company demonstrated its new ENGEL-based medical grade molding system and upgraded EON industrial grade molding systems.

Liquidmetal Technologies Inc. (OTCMKTS:LQMT)

Financial Results/ Corporate Update

Focus in the quarter was on the development of prototype and commercial parts for customers. Liquidmetal Technologies Inc. (OTCMKTS:LQMT) also partnered licensees on the development of the company’s technology and production processes.

“Our customers have shifted from an interest in a novel technology to a strong desire to produce high volumes of amorphous metal parts. We now have the capabilities customers demand to scale high-value production,” said Bruce Bromage, COO.

It awaits to be seen if the milestones will help strengthen investors’ confidence in Liquidmetal Technologies Inc. (OTCMKTS:LQMT). The stock has been under pressure since September when it rose to $0.40 a share. While the stock is up by more than 10% for the year, it faces the risk of dropping further as it continues to trade near a key support level.

For the third quarter, Liquidmetal Technologies Inc. (OTCMKTS:LQMT) generated revenues of $36,000. Selling, marketing, general, and administrative expenses in the quarter totaled $1.7 million as research and development expenses dropped to $500,000 from $548,000 as of last year.

The company exited the quarter with cash and cash equivalent of $43.3 million compared to $58.9 million as of December 31, 2016. Liquidmetal Technologies Inc. (OTCMKTS:LQMT) attributes the decrease to capital expenditures associated with the build-out of the company’s manufacturing capabilities.

LiquidMetal COO Appointment

Separately, Liquidmetal Technologies Inc. (OTCMKTS:LQMT) has confirmed the appointment of Bruce Bromage as the company’s Chief Operating Officer. Bromage is tasked with the responsibility of executing the company’s business strategy and operations.

He takes over after serving as the company’s executive vice president of business development and operations. Bromage has previously held executive positions at Hewlett Packard and the Hughes Aircraft Company. According to the Chief Executive Officer, the appointment provides direct accountability for the company’s operational financial performance.

Open House Event

The developer of alloy technologies hosted an open house event at its Lake Forest facility last month. Over 180 investors, customers, and partners attended the event. On display were the firm’s three production lines, medical-grade amorphous metal molding, and industrial grade amorphous metal molding and newly added Metal injection molding.

“It was a pleasure to be able to discuss our business directly with customers and investors,” said Professor Li. “They had many excellent questions.”

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $LQMT and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

Previous ArticleNext Article
James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

Leave a Reply

Your email address will not be published. Required fields are marked *