Press Release
|
Q1 2015 Operational Highlights
- Conducted 50 customer visits in 1Q
- Received 36 RFQs (Request for Quotations)
- Received mold for Miltner-Adams production run
-
Acknowledged as “Best-of-the-Best” technology in a 10X10 booth at
SAE show in
Detroit
“In our first quarter of 2015, many of the seeds that were planted in
the past several years began to emerge as operational highlights. With
the technology stable, world-class partners in place, and our own
Manufacturing Center of Excellence now operational, the sales and
marketing team has begun to make significant progress on identifying
customer applications and generating actionable interest in our new
technology,” said
Q1 2015 Financial Summary
In Q1 2015, the Company generated revenues of
Selling, marketing, general and administrative expense was
Research and development expense was
Cash totaled
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About
Forward-Looking Statement
This press release contains "forward-looking statements," including but
not limited to statements regarding the advantages of
| LIQUIDMETAL TECHNOLOGIES, INC. AND SUBSIDIARIES | ||||||||
| CONSOLIDATED BALANCE SHEETS | ||||||||
| (in thousands, except par value and share data) | ||||||||
| March 31, | December 31, | |||||||
|
2015 |
2014 |
|||||||
| (Unaudited) | (Audited) | |||||||
|
ASSETS |
||||||||
| Current assets: | ||||||||
| Cash | $ | 6,200 | $ | 10,009 | ||||
| Restricted cash | 2,005 | - | ||||||
| Trade accounts receivable, net of allowance for doubtful accounts | 21 | 83 | ||||||
| Prepaid expenses and other current assets | 381 | 374 | ||||||
| Total current assets | $ | 8,607 | $ | 10,466 | ||||
| Property and equipment, net | 1,139 | 1,118 | ||||||
| Patents and trademarks, net | 644 | 669 | ||||||
| Other assets | 31 | 31 | ||||||
| Total assets | $ | 10,421 | $ | 12,284 | ||||
|
LIABILITIES AND STOCKHOLDERS' EQUITY |
||||||||
| Current liabilities: | ||||||||
| Accounts payable | 246 | 155 | ||||||
| Accrued liabilities | 655 | 705 | ||||||
| Total current liabilities | $ | 901 | $ | 860 | ||||
| Long-term liabilities: | ||||||||
| Warrant liabilities | 2,166 | 2,005 | ||||||
| Other long-term liabilities | 856 | 856 | ||||||
| Total liabilities | $ | 3,923 | $ | 3,721 | ||||
| Stockholders' equity: | ||||||||
|
Convertible, redeemable Preferred Stock, $0.001 par value; 10,000,000 shares authorized; 0 shares issued and outstanding at March 31, 2015 and December 31, 2014. |
- | - | ||||||
|
Common stock, $0.001 par value; 700,000,000 shares authorized; 464,482,819 shares issued and outstanding at March 31, 2015 and December 31, 2014, respectively. |
464 | 464 | ||||||
| Warrants | 18,179 | 18,179 | ||||||
| Additional paid-in capital | 201,025 | 200,610 | ||||||
| Accumulated deficit | (213,114 | ) | (210,636 | ) | ||||
| Non-controlling interest in subsidiary | (56 | ) | (54 | ) | ||||
| Total stockholders' equity | 6,498 | 8,563 | ||||||
| Total liabilities and stockholders' equity | $ | 10,421 | $ | 12,284 | ||||
| LIQUIDMETAL TECHNOLOGIES, INC. AND SUBSIDIARIES | ||||||||
| CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS | ||||||||
| (in thousands, except share and per share data) | ||||||||
| (unaudited) | ||||||||
| For the Three Months | ||||||||
|
Ended March 31, |
||||||||
|
2015 |
2014 |
|||||||
| Revenue | ||||||||
| Products | $ | 23 | $ | 156 | ||||
| Licensing and royalties | 3 | 4 | ||||||
| Total revenue | 26 | 160 | ||||||
| Cost of sales | 19 | 140 | ||||||
| Gross profit | 7 | 20 | ||||||
| Operating expenses | ||||||||
| Selling, marketing, general and administrative | 1,852 | 1,851 | ||||||
| Research and development | 482 | 334 | ||||||
| Total operating expenses | 2,334 | 2,185 | ||||||
| Operating loss | (2,327 | ) | (2,165 | ) | ||||
| Change in value of warrants, loss | (161 | ) | (1,726 | ) | ||||
| Debt discount amortization expense | - | (21 | ) | |||||
| Interest income | 8 | - | ||||||
| Net loss | (2,480 | ) | (3,912 | ) | ||||
| Net loss attributable to non-controlling interest | 2 | 3 | ||||||
|
Net loss and comprehensive loss attributable to Liquidmetal Technologies stockholders |
$ | (2,478 | ) | $ | (3,909 | ) | ||
|
Net loss per common share attributable to Liquidmetal Technologies stockholders, basic and diluted |
$ | (0.01 | ) | $ | (0.01 | ) | ||
| Number of weighted average shares - basic and diluted | 464,482,819 | 387,601,876 | ||||||
Source:
Liquidmetal Technologies, Inc.
Otis Buchanan
Media Relations
949-635-2120
otis.buchanan@liquidmetal.com