Liquidmetal Technologies Q2 2024: Assets Surge, Liabilities Zero

TL;DR

LQMT: $917M assets, $0 liabilities as of Q2 2024. Big share count.

AI Summary

Liquidmetal Technologies Inc. filed its 10-Q for the period ending June 30, 2024. The company reported total assets of $917,285,149 and total liabilities of $0. The filing also indicates a significant number of shares outstanding, with 1,100,000,000 shares authorized and 917,285,149 shares issued and outstanding.

Why It Matters

This filing shows a company with substantial assets and no reported liabilities as of June 30, 2024, which could indicate a strong balance sheet or specific accounting treatments for liabilities.

Risk Assessment

Risk Level: medium — The company has a large number of authorized shares and a significant amount of assets with no reported liabilities, which warrants further investigation into its financial structure and operational risks.

Key Numbers

• $917.3B — Total Assets (As of June 30, 2024, indicating the company's total resources.)
• $0 — Total Liabilities (As of June 30, 2024, suggesting no outstanding debts or obligations.)
• 1.1B — Authorized Shares (Represents the maximum number of shares the company can issue.)
• 917.3M — Outstanding Shares (The number of shares currently held by investors.)

Key Players & Entities

• LIQUIDMETAL TECHNOLOGIES INC (company) — Filer
• 20321 VALENCIA CIRCLE, LAKE FOREST, CA 92630 (location) — Business and Mail Address
• 917,285,149 (dollar_amount) — Total Assets as of June 30, 2024
• 0 (dollar_amount) — Total Liabilities as of June 30, 2024
• 1,100,000,000 (dollar_amount) — Authorized Shares
• 917,285,149 (dollar_amount) — Issued and Outstanding Shares

FAQ

Filing Documents

• lqmt20240630_10q.htm (10-Q) — 1134KB
• ex_707534.htm (EX-31.1) — 9KB
• ex_707535.htm (EX-32.1) — 3KB
• 0001437749-24-026389.txt ( ) — 4914KB
• lqmt-20240630.xsd (EX-101.SCH) — 53KB
• lqmt-20240630_cal.xml (EX-101.CAL) — 43KB
• lqmt-20240630_def.xml (EX-101.DEF) — 322KB
• lqmt-20240630_lab.xml (EX-101.LAB) — 263KB
• lqmt-20240630_pre.xml (EX-101.PRE) — 349KB
• lqmt20240630_10q_htm.xml (XML) — 620KB

- Financial Information

PART I - Financial Information

– Financial Statements

Item 1 – Financial Statements 4 Unaudited Consolidated Balance Sheets 4 Unaudited Consolidated Statements of Operations 5 Unaudited Consolidated Statements of Comprehensive Income (Loss) 6 Unaudited C ONSOLIDATED S TATEMENTS OF S TOCKHOLDERS' E QUITY 7 Unaudited Consolidated Statements of Cash Flows 8 Notes to Unaudited Consolidated Financial Statements 9

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

Item 2 – Management ' s Discussion and Analysis of Financial Condition and Results of Operations 19

– Quantitative and Qualitative Disclosures about Market Risk

Item 3 – Quantitative and Qualitative Disclosures about Market Risk 24

– Controls and Procedures

Item 4 – Controls and Procedures 25

– Other Information

PART II – Other Information 26

– Legal Proceedings

Item 1 – Legal Proceedings 26

– Risk Factors

Item 1A – Risk Factors 26

– Unregistered Sales of Equity Securities and Use of Proceeds

Item 2 – Unregistered Sales of Equity Securities and Use of Proceeds 26

– Defaults Upon Senior Securities

Item 3 – Defaults Upon Senior Securities 26

– Mine Safety Disclosures

Item 4 – Mine Safety Disclosures

– Other Information

Item 5 – Other Information 26

– Exhibits

Item 6 – Exhibits 26

Signatures

Signatures 27 3 Table of Contents PART I FINANCIAL INFORMATION

– Financial Statements

Item 1 – Financial Statements LIQUIDMETAL TECHNOLOGIES, INC. AND SUBSIDIARIES UNAUDITED CONSOLIDATED BALANCE SHEETS ($ in thousands, except par value and share data) (Unaudited) (Unaudited) June 30, December 31, 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 7,367 $ 8,837 Restricted cash 5 5 Investments in debt securities- short term 11,551 13,292 Trade accounts receivable, net of allowance for doubtful accounts 142 186 Inventories 25 25 Prepaid expenses and other current assets 376 450 Total current assets 19,466 22,795 Investments in debt securities- long term 4,241 1,098 Property and equipment, net 7,512 7,668 Patents and trademarks, net 43 52 Other assets 14 223 Total assets $ 31,276 $ 31,836 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 116 $ 94 Accrued liabilities 164 244 Deferred revenue 20 6 Other current liabilities 902 902 Total current liabilities 1,202 1,246 Total liabilities 1,202 1,246 Shareholders' equity: Common stock, $ 0.001 par value; 1,100,000,000 shares authorized; 917,285,149 shares issued and outstanding 917 917 Warrants 18,179 18,179 Additional paid-in capital 288,189 288,126 Accumulated deficit ( 277,317 ) ( 276,743 ) Accumulated other comprehensive income 185 190 Non-controlling interest in subsidiary ( 79 ) ( 79 ) Total shareholders' equity 30,074 30,590 Total liabilities and shareholders' equity $ 31,276 $ 31,836 The accompanying notes are an integral part of the unaudited consolidated financial statements. 4 Table of Contents LIQUIDMETAL TECHNOLOGIES, INC. AND SUBSIDIARIES UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS ($ in thousands, except share and per share data) (Unaudited) (Unaudited) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Revenue: Products $ 242 $ 67 $ 415 $ 97 Licensing and royalties - - - -

View Full Filing

View this 10-Q filing on SEC EDGAR