Liquidmetal Technologies Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Liquidmetal Technologies Inc. filed its 2023 10-K, reporting $917.3 million in assets and $10.1 million in product revenue.</b>

AI Summary

LIQUIDMETAL TECHNOLOGIES INC (LQMT) filed a Annual Report (10-K) with the SEC on March 12, 2024. Liquidmetal Technologies Inc. reported its 2023 fiscal year-end results on March 12, 2024. The company's total assets were $917,285,149 as of December 31, 2023. Revenue from product sales for the year ended December 31, 2023, was $10,066,809. Revenue from licensing for the year ended December 31, 2023, was $0. The company's fiscal year ends on December 31.

Why It Matters

For investors and stakeholders tracking LIQUIDMETAL TECHNOLOGIES INC, this filing contains several important signals. This filing provides a comprehensive overview of Liquidmetal Technologies' financial performance and position for the fiscal year 2023, including detailed asset and revenue figures. Investors and stakeholders can use this report to assess the company's operational results, financial health, and strategic direction for the past year.

Risk Assessment

Risk Level: medium — LIQUIDMETAL TECHNOLOGIES INC shows moderate risk based on this filing. The company's revenue is heavily reliant on product sales, with licensing revenue being zero for the reported period, indicating a concentrated revenue stream.

Analyst Insight

Monitor the company's ability to diversify revenue streams beyond product sales and explore the potential for licensing agreements.

Financial Highlights

revenue

10,066,809

total Assets

917,285,149

revenue Growth

N/A

Revenue Breakdown

Key Numbers

• 917,285,149 — Total Assets (As of December 31, 2023)
• 10,066,809 — Product Revenue (For the year ended December 31, 2023)
• 0 — License Revenue (For the year ended December 31, 2023)
• 2023-12-31 — Fiscal Year End (Reported period)

Key Players & Entities

• LIQUIDMETAL TECHNOLOGIES INC (company) — Filer name
• LQMT (company) — Ticker symbol
• 20231231 (date) — Fiscal year end
• 20240312 (date) — Filing date
• 917,285,149 (dollar_amount) — Total assets as of December 31, 2023
• 10,066,809 (dollar_amount) — Product revenue for the year ended December 31, 2023

FAQ

Risk Factors

• Revenue Concentration [medium — financial]: The company's revenue is primarily derived from product sales, with no reported revenue from licensing in the fiscal year 2023.

Key Dates

• 2024-03-12: 10-K Filing — Annual report for fiscal year 2023 filed with the SEC.
• 2023-12-31: Fiscal Year End — End date of the reporting period for the 10-K.

Key Financial Figures

• $0.001 — ange on which registered Common stock, $0.001 par value per share LQMT OTCQB In
• $0.06 — ck are deemed to have a market value of $0.06 per share, the closing price of the com

Filing Documents

• lqmt20231231_10k.htm (10-K) — 1551KB
• ex_635772.htm (EX-23.1) — 2KB
• ex_635773.htm (EX-31.1) — 8KB
• ex_635774.htm (EX-32.1) — 5KB
• pic1.jpg (GRAPHIC) — 3KB
• 0001437749-24-007453.txt (&nbsp;) — 6993KB
• lqmt-20231231.xsd (EX-101.SCH) — 66KB
• lqmt-20231231_cal.xml (EX-101.CAL) — 50KB
• lqmt-20231231_def.xml (EX-101.DEF) — 445KB
• lqmt-20231231_lab.xml (EX-101.LAB) — 388KB
• lqmt-20231231_pre.xml (EX-101.PRE) — 480KB
• lqmt20231231_10k_htm.xml (XML) — 989KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 11 Item 1B. Unresolved Staff Comments 18 Item 1C. Cybersecurity 18 Item 2.

Properties

Properties 19 Item 3.

Legal Proceedings

Legal Proceedings 19 Item 4. Mine Safety Disclosures 19 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 20 Item 6. [Reserved] 20 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 21 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 28 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 28 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 28 Item 9A.

Controls and Procedures

Controls and Procedures 28 Item 9B. Other Information 28 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 28 PART III Item 10. Directors, Executive Officers and Corporate Governance 29 Item 11.

Executive Compensation

Executive Compensation 30 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 33 Item 13. Certain Relationships and Related Transactions, and Director Independence 35 Item 14. Principal Accounting Fees and Services 36 PART IV Item 15. Exhibits, Financial Statement Schedules 37 Item 16. Form 10-K Summary 41 3 Table of Contents PART I

Forward-Looking Statements

Forward-Looking Statements This Annual Report on Form 10-K of Liquidmetal Technologies, Inc. contains "forward-looking statements" that may state our management's plans, future events, objectives, current expectations, estimates, forecasts, assumptions or projections about the company and its business. Any statement in this report that is not a statement of historical fact is a forward-looking statement, and in some cases, words such as "believes," "estimates," "projects," "expects," "intends," "may," "anticipate," "plans," "seeks," and similar expressions identify forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual outcomes and results to differ materially from the anticipated outcomes or results. These statements are not guarantees of future performance, and undue reliance should not be placed on these statements. It is important to note that our actual results could differ materially from what is expressed in our forward-looking statements due to the risk factors described in the section of this report entitled "Risk Factors" (Item 1A of this report) as well as the following risks and uncertainties: Our ability to fund our operations in the long-term through financing transactions on terms acceptable to us, or at all Our history of operating losses and the uncertainty surrounding our ability to achieve or sustain profitability Our limited history of developing and selling products made from our bulk amorphous alloys Challenges associated with having products manufactured from our alloys and the use of third parties for manufacturing Our limited history of licensing our technology to third parties Lengthy customer adoption cycles and unpredictable customer adoption practices Our ability to identify, develop, and commercialize new product applications for our technology Competition from current suppliers of incumbent materials or producers of competing products Our ability to identify, consummate

Business

Item 1. Business In this Annual Report on Form 10-K, unless the context indicates otherwise, references to "the Company", "Liquidmetal Technologies", "our Company", "we", "us", and similar references refer to Liquidmetal Technologies, Inc. and its subsidiaries. Overview We are a materials technology company that works with manufacturing and commercial partners to develop and commercialize products made from our proprietary amorphous alloys. Our Liquidmetal family of alloys consists of a variety of proprietary bulk alloys and composites that utilize the advantages offered by amorphous alloy technology. We work with partners to design, develop, and sell custom products and parts from bulk amorphous alloys for sale in various industries. We also partner with third-party manufacturers and licensees to develop and commercialize Liquidmetal alloy products. Amorphous alloys are, in general, unique materials that are distinguished by their ability to retain a random atomic structure when they solidify, in contrast to the crystalline atomic structure that forms in other metals and alloys when they solidify. Liquidmetal alloys are proprietary amorphous alloys that possess a combination of performance, processing, and potential cost advantages that we believe will make them preferable to other materials in a variety of applications. The amorphous atomic structure of bulk alloys enables them to overcome certain performance limitations caused by inherent weaknesses in crystalline atomic structures, thus facilitating performance and processing characteristics superior in many ways to those of their crystalline counterparts. We believe the alloys and the molding technologies we employ can result in components for many applications that exhibit exceptional dimensional control and repeatability that rivals precision machining, excellent corrosion resistance, brilliant surface finish, high strength, high hardness, high elastic limit, alloys that are non-magnetic, and the abilit

View Full Filing

View this 10-K filing on SEC EDGAR