0001437749-24-032664 | 10-Q | XBRL Viewer | Liquidmetal Technologies INC

Subsequent Events [Text Block]

17. Subsequent Events

The Company follows the guidance in FASB ASC Topic 855, Subsequent Events (“ASC 855”), which provides guidance to establish general standards of accounting for and disclosures of events that occur after the balance sheet date but before the consolidated financial statements are issued or are available to be issued. ASC 855 sets forth (i) the period after the balance sheet date during which management of a reporting entity evaluates events or transactions that may occur for potential recognition or disclosure in the consolidated financial statements, (ii) the circumstances under which an entity should recognize events or transactions occurring after the balance sheet date in its consolidated financial statements, and (iii) the disclosures that an entity should make about events or transactions that occurred after the balance sheet date. Accordingly, the Company did not have any subsequent events that require disclosure.

Note 13 - Stock Compensation Plans (Details Textual) - USD ($) $ in Thousands				3 Months Ended		9 Months Ended
	Mar. 12, 2024	Dec. 16, 2021	Jul. 07, 2021	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Jan. 27, 2015
Share-Based Payment Arrangement, Expense				$ 42	$ 17	$ 105	$ 89
Equity Incentive Plan 2012 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)				30,000,000		30,000,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number (in shares)				3,073,000		3,073,000		2,993,000
Equity Incentive Plan 2012 [Member] \| Share-Based Payment Arrangement, Employee [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)						1,400,000
Equity Incentive Plan 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)									40,000,000
Equity Incentive Plan 2015 [Member] \| Chief Executive Officer [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)			7,500,000
Equity Incentive Plan 2015 [Member] \| Director [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)	9,250,000	600,000

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Preferred Stock [Member]	Common Stock [Member]	Additional Paid in Capital, Attributable to Warrants [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Noncontrolling Interest [Member]	Total
Balance (in shares) at Dec. 31, 2022	0	917,285,149
Balance at Dec. 31, 2022		$ 917	$ 18,179	$ 288,013	$ (274,696)	$ (296)	$ (78)	$ 32,039
Stock-based compensation		0	0	89	0	0	0	89
Net loss		0	0	0	(1,763)	0	(1)	(1,764)
Other comprehensive loss		$ 0	0	0	0	355	0	355
Balance (in shares) at Sep. 30, 2023	0	917,285,149
Balance at Sep. 30, 2023		$ 917	18,179	288,102	(276,459)	59	(79)	30,719
Balance (in shares) at Jun. 30, 2023	0	917,285,149
Balance at Jun. 30, 2023		$ 917	18,179	288,085	(275,993)	(59)	(78)	31,051
Stock-based compensation		0	0	17	0	0	0	17
Net loss		0	0	0	(466)	0	(1)	(467)
Other comprehensive loss		$ 0	0	0	0	118	0	118
Balance (in shares) at Sep. 30, 2023	0	917,285,149
Balance at Sep. 30, 2023		$ 917	18,179	288,102	(276,459)	59	(79)	30,719
Balance (in shares) at Dec. 31, 2023	0	917,285,149
Balance at Dec. 31, 2023		$ 917	18,179	288,126	(276,743)	190	(79)	30,590
Stock-based compensation		0	0	105	0	0	0	105
Net loss		0	0	0	(1,014)	0	(1)	(1,015)
Other comprehensive loss		$ 0	0	0	0	156	0	156
Balance (in shares) at Sep. 30, 2024	0	917,285,149
Balance at Sep. 30, 2024		$ 917	18,179	288,231	(277,757)	346	(80)	29,836
Balance (in shares) at Jun. 30, 2024	0	917,285,149
Balance at Jun. 30, 2024		$ 917	18,179	288,189	(277,317)	185	(79)	30,074
Stock-based compensation		0	0	42	0	0	0	42
Net loss		0	0	0	(440)	0	(1)	(441)
Other comprehensive loss		$ 0	0	0	0	161	0	161
Balance (in shares) at Sep. 30, 2024	0	917,285,149
Balance at Sep. 30, 2024		$ 917	$ 18,179	$ 288,231	$ (277,757)	$ 346	$ (80)	$ 29,836

Amount after tax and reclassification adjustments of other comprehensive income (loss).

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The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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Amount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity.

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Note 14 - Facility Lease

9 Months Ended

Sep. 30, 2024

Lessor, Operating Leases [Text Block]

14. Facility Lease

Amounts collected under the Facility Lease are comprised of base rents and reimbursements for direct facility expenses (property taxes and insurance), common area maintenance, and utilities. Amounts recorded to lease income are comprised of base rents and direct facility expenses, recorded on a straight-line basis over the lease term. Reimbursements for common area maintenance and utility expenses are recorded as reductions to like expenses within sales, general, and administrative costs.

The future minimum rents due to the Company under the facility lease are as follows:

Year	Base Rents

2024 (remaining three months)	$	113
2025		153
2026		-
2027		-
Thereafter		-
	$	266

Note 14 - Facility Lease - Base Rents (Details) $ in Thousands	Sep. 30, 2024 USD ($)
2024 (remaining three months)	$ 113
2025	153
2026	0
2027	0
Thereafter	0
Lessor, Operating Lease, Payment to be Received	$ 266

Note 10 - Other Assets (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of Other Assets, Noncurrent [Table Text Block]

	September 30,		December 31,
	2024		2023

Utility deposits	$	14	$	14
Prepaid lease costs and receivables- long term		-		209
Total	$	14	$	223

Note 11 - Accrued Liabilities

9 Months Ended

Sep. 30, 2024

Accounts Payable and Accrued Liabilities Disclosure [Text Block]

11. Accrued Liabilities

Accrued liabilities consisted of the following:

	September 30,		December 31,
	2024		2023

Accrued payroll, vacation, and bonuses	$	119	$	138
Accrued audit fees		47		106
Total	$	166	$	244

Note 4 - Investments in Debt Securities (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Interest and Investment Income [Member]
Debt Securities, Available-for-Sale, Realized Gain (Loss)	$ 258	$ 157	$ 775	$ 400

Note 7 - Inventories

9 Months Ended

Sep. 30, 2024

Inventory Disclosure [Text Block]

7. Inventories

Inventories consisted of the following:

	September 30,		December 31,
	2024		2023

Work in progress	$	-	$	25
Finished goods		21		-
Total	$	21	$	25

Note 12 - Other Current Liabilities - Summary of Other Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Aged payables to vendors, individuals, and other third parties	$ 859	$ 859
Tenant deposits	43	43
Total	$ 902	$ 902

Note 6 - Prepaid Expenses and Other Current Assets (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of Prepaid Expenses and Other Current Assets [Table Text Block]

	September 30,		December 31,
	2024		2023

Prepaid service invoices	$	61	$	109
Prepaid insurance premiums		286		233
Prepaid lease costs and receivables- short term		111		22
Interest and other receivables		139		86
Total	$	597	$	450

Note 2 - Basis of Presentation and Recent Accounting Pronouncements (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

	Fair Value		Level 1		Level 2		Level 3

Investments in debt securities (short-term)	$	11,696	$	11,148	$	548	$	-
Investments in debt securities (long-term)		6,368		4,529		1,839		-

	Fair Value		Level 1		Level 2		Level 3

Investments in debt securities (short-term)	$	13,292	$	10,681	$	2,611	$	-
Investments in debt securities (long-term)		1,098		449		649		-

Note 2 - Basis of Presentation and Recent Accounting Pronouncements

9 Months Ended

Sep. 30, 2024

Basis of Presentation and Significant Accounting Policies [Text Block]

2. Basis of Presentation and Recent Accounting Pronouncements

The accompanying unaudited interim consolidated financial statements as of and for the three and nine months ended September 30, 2024 and 2023 have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q. Accordingly, they do not include all of the information and notes required by US GAAP for complete financial statements. In the opinion of management, all adjustments (consisting only of normal recurring accruals) considered necessary for a fair presentation have been included. All intercompany balances and transactions have been eliminated in consolidation. Operating results for the three and nine months ended September 30, 2024 are not necessarily indicative of the results that may be expected for any future periods or the year ending December 31, 2024. The accompanying unaudited consolidated financial statements should be read in conjunction with the Company's 2023 Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 12, 2024.

Investments in Debt Securities

The Company will invest excess funds to maximize investment yield, while maintaining liquidity and minimizing credit risk. Debt securities are carried at fair value and consist primarily of investments in obligations of the United States Treasury, various U.S. and foreign corporations, and certificates of deposits. The Company classifies its investments in debt securities as available-for-sale with all unrealized gains or losses included as part of other comprehensive income. The Company evaluates its debt securities with unrealized losses on a quarterly basis for potential other-than-temporary impairments in value. As a result of this assessment, the Company did not recognize any other-than-temporary impairment losses considered to be credit related for the three and nine months ended September 30, 2024 and 2023.

Fair Value Measurements

The estimated fair values of financial instruments reported in the consolidated financial statements have been determined using available market information and valuation methodologies, as applicable. The fair value of cash and restricted cash approximate their carrying value due to their short maturities and are classified as Level 1 instruments within the fair value hierarchy.

Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Entities are required to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value based upon the following fair value hierarchy:

Level 1 —

Quoted prices in active markets for identical assets or liabilities;

Level 2 —

Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and

Level 3 —

Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

As of September 30, 2024, the following table represents the Company’s fair value hierarchy for items that are required to be measured at fair value on a recurring basis:

	Fair Value		Level 1		Level 2		Level 3

Investments in debt securities (short-term)	$	11,696	$	11,148	$	548	$	-
Investments in debt securities (long-term)		6,368		4,529		1,839		-

As of December 31, 2023, the following table represents the Company’s fair value hierarchy for items that are required to be measured at fair value on a recurring basis:

	Fair Value		Level 1		Level 2		Level 3

Investments in debt securities (short-term)	$	13,292	$	10,681	$	2,611	$	-
Investments in debt securities (long-term)		1,098		449		649		-

Leases

The Company leases its manufacturing facility under a long-term contract, which is accounted for as an operating lease. The lease provides for a fixed base rent and variable payments comprised of reimbursements for property taxes, insurance, utilities, and common area maintenance. The lease has a term of sixty-two months, exclusive of options to renew. In accordance with ASC 842, Leases, lease income, which includes escalating rents over the term of the lease, is recorded on a straight-line basis over the expected lease term. The difference between lease income and payments received is recorded as a rent receivable, which is included as a prepaid expense in the consolidated balance sheets. Amounts paid for broker commissions represent prepaid direct lease costs and will be amortized as an off-set to lease income over the lease term.

Other Recent Pronouncements

Other recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force) and the SEC did not or are not believed by management to have a material impact on the Company's present or future consolidated financial statements.

Note 6 - Prepaid Expenses and Other Current Assets - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Prepaid service invoices	$ 61	$ 109
Prepaid insurance premiums	286	233
Prepaid lease costs and receivables- short term	111	22
Interest and other receivables	139	86
Total	$ 597	$ 450

Note 11 - Accrued Liabilities (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of Accrued Liabilities [Table Text Block]

	September 30,		December 31,
	2024		2023

Accrued payroll, vacation, and bonuses	$	119	$	138
Accrued audit fees		47		106
Total	$	166	$	244

Note 4 - Investments in Debt Securities - Amortized Cost and Fair Value of Investments in Debt Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Investment in debt securities, amortized cost	$ 17,778	$ 14,338
Investment in debt securities, fair value	18,064	14,390
US Treasury and Government [Member]
Investment in debt securities, amortized cost	14,888	9,733
Investment in debt securities, fair value	15,133	9,838
Corporate Debt Securities [Member]
Investment in debt securities, amortized cost	2,890	4,605
Investment in debt securities, fair value	$ 2,931	$ 4,552

Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

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Note 4 - Investments in Debt Securities (Tables)

9 Months Ended

Sep. 30, 2024

Debt Securities, Available-for-Sale [Table Text Block]

		Amortized Cost				Fair Value
	*Longest*	September 30,		December 31,		September 30,		December 31,
	*Maturity Date*	*2024*		*2023*		*2024*		*2023*

U.S. government and agency securities	2028		14,888		9,733		15,133		9,838
Corporate bonds	2030		2,890		4,605		2,931		4,552
			17,778		14,338		18,064		14,390

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
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-Name Accounting Standards Codification
-Section 50
-Paragraph 3
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Note 5 - Trade Accounts Receivable

9 Months Ended

Sep. 30, 2024

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

5. Trade Accounts Receivable

Trade accounts receivable consisted of the following:

	September 30,		December 31,
	2024		2023
Trade accounts receivable	$	67	$	186
Less: Allowance for doubtful accounts		-		-
Total trade accounts receivable, net	$	67	$	186

Note 7 - Inventories (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of Inventory, Current [Table Text Block]

	September 30,		December 31,
	2024		2023

Work in progress	$	-	$	25
Finished goods		21		-
Total	$	21	$	25

Note 9 - Patents and Trademarks, Net (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Amortization of Intangible Assets	$ 4	$ 4	$ 13	$ 16
Minimum [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	10 years		10 years
Maximum [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	17 years		17 years

Note 15 - Loss Per Common Share

9 Months Ended

Sep. 30, 2024

Earnings Per Share [Text Block]

15. Loss Per Common Share

Basic earnings per share (“EPS”) is computed by dividing earnings (loss) attributable to common shareholders by the weighted average number of common shares outstanding for the periods. Diluted EPS reflects the potential dilution of securities that could share in the earnings.

Options to purchase 26,584,667 shares of common stock at prices ranging from $0.05 to $0.38 per share were outstanding at September 30, 2024, but were not included in the computation of diluted EPS for the same period as the inclusion would have been antidilutive, given the Company’s net loss. Options to purchase 19,101,167 shares of common stock at prices ranging from $0.07 to $0.38 per share were outstanding as of September 30, 2023, but were not included in the computation of diluted EPS for the same period as the inclusion would have been antidilutive, given the Company’s net loss.

Warrants to purchase 10,066,809 shares of common stock, priced at $0.07 per share, outstanding at each of September 30, 2024 and September 30, 2023 were not included in the computation of diluted EPS for the same period as the inclusion would have been antidilutive, given the Company’s net loss.

Unaudited Consolidated Balance Sheets (Parentheticals) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	1,100,000,000	1,100,000,000
Common stock, shares issued (in shares)	917,285,149	917,285,149
Common stock, shares outstanding (in shares)	917,285,149	917,285,149

Note 11 - Accrued Liabilities - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Accrued payroll, vacation, and bonuses	$ 119	$ 138
Accrued audit fees	47	106
Total	$ 166	$ 244

Unaudited Consolidated Statements of Operations - USD ($) $ / shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenue:
Revenues	$ 316	$ 127	$ 731	$ 224
Cost of sales	239	89	560	164
Gross profit	77	38	171	60
Operating expenses:
Selling, marketing, general and administrative	903	746	2,524	2,504
Research and development	6	5	15	16
Operating Expenses	909	751	2,539	2,520
Operating loss	(832)	(713)	(2,368)	(2,460)
Other income (expense):
Lease income	89	89	267	296
Other income	45	0	311	0
Interest and investment income	258	157	775	400
Nonoperating Income (Expense)	392	246	1,353	696
Loss from operations	(440)	(467)	(1,015)	(1,764)
Income taxes	0	0	0	0
Net loss	(441)	(467)	(1,015)	(1,764)
Net loss attributable to non-controlling interest	0	1	1	1
Net loss attributable to Liquidmetal Technologies shareholders	$ (440)	$ (466)	$ (1,014)	$ (1,763)
Per common share basic and diluted:
Net loss per common share attributable to Liquidmetal Technologies shareholders, basic and diluted (in dollars per share)	$ (0)	$ (0)	$ (0)	$ (0)
Number of weighted average shares - basic and diluted (in shares)	917,285,149	917,285,149	917,285,149	917,285,149
Product [Member]
Revenue:
Revenues	$ 316	$ 108	$ 731	$ 205
License [Member]
Revenue:
Revenues	$ 0	$ 19	$ 0	$ 19

Note 8 - Property and Equipment, Net - Property and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Property and equipment, gross	$ 11,237	$ 11,237
Accumulated depreciation	(3,802)	(3,569)
Total property and equipment, net	7,435	7,668
Land, Buildings and Improvements [Member]
Property and equipment, gross	9,610	9,610
Machinery and Equipment [Member]
Property and equipment, gross	1,304	1,304
Computer Equipment [Member]
Property and equipment, gross	272	272
Office Equipment, Furnishings and Improvements [Member]
Property and equipment, gross	$ 51	$ 51

Note 8 - Property and Equipment, Net (Tables)

9 Months Ended

Sep. 30, 2024

Property, Plant and Equipment [Table Text Block]

	September 30,			December 31,
	2024			2023

Land, building, and improvements	$	9,610		$	9,610
Machinery and equipment		1,304			1,304
Computer equipment		272			272
Office equipment, furnishings, and improvements		51			51
Total		11,237			11,237
Accumulated depreciation		(3,802	)		(3,569	)
Total property and equipment, net	$	7,435		$	7,668

Note 14 - Facility Lease (Tables)

9 Months Ended

Sep. 30, 2024

Lessor, Operating Lease, Payment to be Received, Maturity [Table Text Block]

Year	Base Rents

2024 (remaining three months)	$	113
2025		153
2026		-
2027		-
Thereafter		-
	$	266

Note 10 - Other Assets - Other Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Other Assets	$ 14	$ 223
Utility Deposits [Member]
Other Assets	14	14
Prepaid Lease Costs and Long-term Receivables [Member]
Other Assets	$ 0	$ 209

Document And Entity Information - shares	9 Months Ended
Document And Entity Information - shares	Sep. 30, 2024	Oct. 30, 2024
Document Information [Line Items]
Entity Central Index Key	0001141240
Entity Registrant Name	LIQUIDMETAL TECHNOLOGIES INC
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-31332
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	33-0264467
Entity Address, Address Line One	20321 Valencia Circle
Entity Address, City or Town	Lake Forest
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92630
City Area Code	949
Local Phone Number	635-2100
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		917,285,149

Note 13 - Stock Compensation Plans

9 Months Ended

Sep. 30, 2024

Share-Based Payment Arrangement [Text Block]

13. Stock Compensation Plans

On June 28, 2012, the Company adopted the 2012 Equity Incentive Plan (“2012 Plan”), with the approval of the shareholders, which provided for the grant of stock options to officers, employees, consultants and directors of the Company and its subsidiaries. The 2012 Plan provides for the granting to employees of incentive stock options within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended, and for the granting to employees and consultants of non-statutory stock options. In addition, the Plan permits the granting of stock appreciation rights, or SARs, with or independently of options, as well as stock bonuses and rights to purchase restricted stock. A total of 30,000,000 shares of the Company’s common stock may be granted under the 2012 Equity Incentive Plan, and all options granted under this plan had exercise prices that were equal to the fair market value on the date of grant. On December 16, 2021, the Company granted option grants under the Company’s 2012 Equity Incentive Plan, as approved to by the Board, for employees up to 1,400,000 shares of the Company’s common stock in total. Under this plan, the Company had outstanding grants of options to purchase 3,073,000 and 2,993,000 shares of the Company’s common stock as of September 30, 2024 and December 31, 2023, respectively.

On January 27, 2015, the Company adopted its 2015 Equity Incentive Plan (“2015 Plan”), which provided for the grant of stock options to officers, employees, consultants and directors of the Company and its subsidiaries. A total of 40,000,000 shares of the Company’s common stock are available for issuance under the 2015 Plan. All options granted under the 2015 Plan had exercise prices that were equal to the fair market value on the dates of grant. Under the 2015 Plan, the Company granted options on July 7, 2021 to purchase 7,500,000 shares of Company common stock to Mr. Chung, options on December 16, 2021 to purchase 600,000 shares of Company’s common stock to directors, and options on March 12, 2024 to purchase 9,250,000 shares of Company’s common stock to employees and director.

FASB ASC 718, Compensation – Stock Compensation, requires all share-based payments to employees, including grants of employee stock options, to be recognized in the financial statements based on their fair values. Under ASC 718, the Company is required to measure the cost of employee services received in exchange for stock options and similar awards based on the grant-date fair value of the award and recognize this cost in the income statement over the period during which an employee is required to provide service in exchange for the award.

Stock based compensation expense attributable to these plans was $42 and $105 for the three and nine months ended September 30, 2024, respectively, and $17 and $89 for the three and nine months ended September 30, 2023, respectively.

Expected volatilities are based on historical volatility expected over the expected life of the options. The Company uses historical data to estimate option exercise and employee termination within the valuation model. The expected term of options granted represents the period of time that options granted are expected to be outstanding. Expected forfeiture rates are determined based on historical forfeitures over a five-year period. The risk-free rate used for the period within the expected life of the options is based on U.S. Treasury rates in effect at the time of grant.

Note 9 - Patents and Trademarks, Net

9 Months Ended

Sep. 30, 2024

Intangible Assets Disclosure [Text Block]

9. Patents and Trademarks, net

Patents and trademarks consisted of the following:

	September 30,			December 31,
	2024			2023

Purchased and licensed patent rights	$	566		$	566
Internally developed patents		1,686			1,686
Trademarks		148			148
Total intangible assets		2,400			2,400
Accumulated amortization		(2,361	)		(2,348	)
Total intangible assets, net	$	39		$	52

Purchased patent rights represent the exclusive right to commercialize the bulk amorphous alloy and other amorphous alloy technology acquired from California Institute of Technology (“Caltech”), through a license agreement with Caltech and other institutions. All fees and other amounts payable by the Company for these rights and licenses have been paid or accrued in full, and no further royalties, license fees, or other amounts will be payable in the future under the license agreement. In addition to the purchased and licensed patents, the Company has internally developed patents. Internally developed patents include legal and registration costs incurred to obtain the respective patents. The Company currently holds various patents and numerous pending patent applications in the United States, as well as numerous foreign counterparts to these patents outside of the United States.

The Company amortizes capitalized patents and trademarks over an average of 10-to-17-year periods. Amortization expense for patents and trademarks was $4 and $13 for the three and nine months ended September 30, 2024, respectively, and $4 and $16 for the three and nine months ended September 30, 2023, respectively.

Note 16 - Related Party Transactions

9 Months Ended

Sep. 30, 2024

16. Related Party Transactions

On March 10, 2016, the Company entered into the 2016 Purchase Agreement with Liquidmetal Technology Limited, providing for the purchase of 405,000,000 shares of the Company’s common stock for an aggregate purchase price of $63,400.

In connection with the 2016 Purchase Agreement and also on March 10, 2016, the Company and Eontec entered into a license agreement pursuant to which the Company and Eontec entered into a cross-license of their respective technologies. Eontec is a publicly held Hong Kong corporation of which Professor Li is the Chairman. Eontec is also an affiliate of Yihao. Yihao is currently the Company’s primary contract manufacturer. As of September 30, 2024 and December 31, 2023, Professor Li is a greater-than 5% beneficial owner of the Company and serves as the Company’s Chairman. Equipment and services procured from Eontec, and their affiliates, were $143 and $258 during the three and nine months ended September 30, 2024, respectively, and $43 and $78 during the three and nine months ended September 30, 2023, respectively. As of September 30, 2024 and December 31, 2023, the Company has outstanding payables to Eontec, and their affiliates of $96 and $30, respectively.

On May 10, 2022, Mr. Abdi Mahamedi resigned as a director of the Company. In connection with Mr. Mahamedi’s resignation, the Board of Directors of the Company approved an amendment to Mr. Mahamedi’s previously granted options to purchase an aggregate of 1,870,000 shares of Company common stock to provide for the extension of the exercise period of the options through May 10, 2025. Upon Mr. Mahamedi’s resignation as a director, the Company entered into a Consulting Agreement, dated May 10, 2022, with Rosewood LLC pursuant to which Mr. Mahamedi as the owner of Rosewood LLC will assess and present business opportunities for the licensing and sublicensing of the Company’s technology. Mr. Mahamedi will also provide business development services and perform other special projects as requested by the Company. The Consulting Agreement has a term of 5 years, subject to the right of the Company or Mr. Mahamedi to terminate the agreement at any time after December 1, 2022 and subject to certain other early-termination rights. As sole consideration for the Consulting Agreement, the Company granted to Mr. Mahamedi an option to purchase up to 2.0 million shares of Company common stock at an exercise price of the closing market price of the Company’s common stock on May 10, 2022 that will vest 33% on the first anniversary of the grant date and the remainder vesting monthly over the ensuing two years, provided that Mr. Mahamedi continues to be engaged as a consultant on each such vesting date. The options have a term of 5 years.

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 2
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Note 15 - Loss Per Common Share (Details Textual) - $ / shares	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Share-Based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	26,584,667	19,101,167
Share-Based Payment Arrangement, Option [Member] \| Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 0.05	$ 0.07
Share-Based Payment Arrangement, Option [Member] \| Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 0.38	$ 0.38
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	10,066,809	10,066,809
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)	$ 0.07	$ 0.07

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Operating activities:
Net loss	$ (1,014)	$ (1,763)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	246	168
Realized investment gains (loss), net	138	0
Unrealized investment gain (loss), net	156	0
Stock-based compensation	105	72
Changes in operating assets and liabilities:
Trade accounts receivable	119	(50)
Inventories	4	0
Prepaid expenses and other current assets	(147)	255
Other assets and liabilities	209	45
Accounts payable and accrued liabilities	55	40
Deferred revenue	(6)	33
Net cash used in operating activities	(135)	(1,200)
Investing Activities:
Purchases of debt securities	(15,032)	(5,170)
Proceeds from sales of debt securities	11,220	13,584
Net cash provided by (used in) investing activities	(3,812)	8,414
Net increase (decrease) in cash, cash equivalents, and restricted cash	(3,947)	7,214
Cash, cash equivalents, and restricted cash at beginning of period	8,842	2,274
Cash, cash equivalents, and restricted cash at end of period	4,895	9,488
Supplemental disclosures of cash flow information
Interest	0	0
Income taxes	$ 0	$ 0

Note 9 - Patents and Trademarks, Net - Patents and Trademarks (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Intangible assets, gross	$ 2,400	$ 2,400
Accumulated amortization	(2,361)	(2,348)
Total intangible assets, net	39	52
Purchased and Licensed Patent Rights [Member]
Intangible assets, gross	566	566
Internally Developed Patents [Member]
Intangible assets, gross	1,686	1,686
Trademarks [Member]
Intangible assets, gross	$ 148	$ 148

Note 16 - Related Party Transactions (Details Textual) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
	May 10, 2022	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Mar. 10, 2016
Former Director [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number (in shares)	1,870,000
Former Director [Member] \| Share-Based Payment Arrangement, Tranche One [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage	33.00%
Maximum [Member] \| Former Director [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)	2,000,000
Chairman of Eontec [Member] \| Minimum [Member]
Beneficial Ownership Percentage						5.00%
Eontec [Member] \| License Agreement [Member]
Related Party Transaction, Amounts of Transaction		$ 143	$ 43	$ 258	$ 78
Accounts Payable		$ 96		$ 96		$ 30
The 2016 Purchase Agreement [Member]
Common Stock Purchase Agreement, Number of Shares Authorized to Issue and Sell to Investors (in shares)							405,000,000
Common Stock Purchase Agreement, Value of Shares Authorized to Issue and Sell to Investors							$ 63,400

Note 7 - Inventories - Schedule of Inventory (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Work in progress	$ 0	$ 25
Finished goods	21	0
Total	$ 21	$ 25

Note 12 - Other Current Liabilities (Tables)

9 Months Ended

Sep. 30, 2024

Other Current Liabilities [Table Text Block]

	September 30,		December 31,
	2024		2023

Aged payables to vendors, individuals, and other third parties	$	859	$	859
Tenant deposits		43		43
Total	$	902	$	902

Note 9 - Patents and Trademarks, Net (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of Finite-Lived Intangible Assets [Table Text Block]

	September 30,			December 31,
	2024			2023

Purchased and licensed patent rights	$	566		$	566
Internally developed patents		1,686			1,686
Trademarks		148			148
Total intangible assets		2,400			2,400
Accumulated amortization		(2,361	)		(2,348	)
Total intangible assets, net	$	39		$	52

Unaudited Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 4,890	$ 8,837
Restricted cash	5	5
Investments in debt securities- short term	11,696	13,292
Trade accounts receivable, net of allowance for doubtful accounts	67	186
Inventories	21	25
Prepaid expenses and other current assets	597	450
Total current assets	17,276	22,795
Investments in debt securities- long term	6,368	1,098
Property and equipment, net	7,435	7,668
Patents and trademarks, net	39	52
Other Assets	14	223
Total assets	31,132	31,836
Current liabilities:
Accounts payable	228	94
Accrued liabilities	166	244
Deferred revenue	0	6
Other current liabilities	902	902
Total current liabilities	1,296	1,246
Total liabilities	1,296	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	288,231	288,126
Accumulated deficit	(277,757)	(276,743)
Accumulated other comprehensive income	346	190
Non-controlling interest in subsidiary	(80)	(79)
Total shareholders' equity	29,836	30,590
Total liabilities and shareholders' equity	$ 31,132	$ 31,836

Note 5 - Trade Accounts Receivable - Trade Accounts Receivable Table (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Trade accounts receivable	$ 67	$ 186
Less: Allowance for doubtful accounts	0	0
Total trade accounts receivable, net	$ 67	$ 186

Note 2 - Basis of Presentation and Recent Accounting Pronouncements (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Other-than-temporary Impairment Loss, Debt Securities	$ 0	$ 0	$ 0	$ 0
Lessor, Operating Lease, Term of Contract (Month)	62 months		62 months

Note 8 - Property and Equipment, Net (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Selling, General and Administrative Expenses [Member]
Depreciation	$ 78	$ 78	$ 233	$ 234

Note 6 - Prepaid Expenses and Other Current Assets

9 Months Ended

Sep. 30, 2024

Prepaid Expenses and Other Current Assets [Text Block]

6. Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following:

	September 30,		December 31,
	2024		2023

Prepaid service invoices	$	61	$	109
Prepaid insurance premiums		286		233
Prepaid lease costs and receivables- short term		111		22
Interest and other receivables		139		86
Total	$	597	$	450

Note 12 - Other Current Liabilities (Details Textual)	9 Months Ended
Note 12 - Other Current Liabilities (Details Textual)	Sep. 30, 2024
Period for Outstanding Liability (Year)	5 years

Significant Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

Investment, Policy [Policy Text Block]

Investments in Debt Securities

Fair Value Measurement, Policy [Policy Text Block]

Fair Value Measurements

Level 1 —

Quoted prices in active markets for identical assets or liabilities;

Level 2 —

Level 3 —

Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

As of September 30, 2024, the following table represents the Company’s fair value hierarchy for items that are required to be measured at fair value on a recurring basis:

	Fair Value		Level 1		Level 2		Level 3

Investments in debt securities (short-term)	$	11,696	$	11,148	$	548	$	-
Investments in debt securities (long-term)		6,368		4,529		1,839		-

As of December 31, 2023, the following table represents the Company’s fair value hierarchy for items that are required to be measured at fair value on a recurring basis:

	Fair Value		Level 1		Level 2		Level 3

Investments in debt securities (short-term)	$	13,292	$	10,681	$	2,611	$	-
Investments in debt securities (long-term)		1,098		449		649		-

Lessee, Leases [Policy Text Block]

Leases

New Accounting Pronouncements, Policy [Policy Text Block]

Other Recent Pronouncements

Disclosure of accounting policy for investment in financial asset.

+ References + Details

Note 2 - Basis of Presentation and Recent Accounting Pronouncements - Fair Value of Items Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Investments in debt securities (short-term)	$ 11,696	$ 13,292
Investments in debt securities (long-term)	6,368	1,098
Fair Value, Recurring [Member]
Investments in debt securities (short-term)	11,696	13,292
Investments in debt securities (long-term)	6,368	1,098
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member]
Investments in debt securities (short-term)	11,148	10,681
Investments in debt securities (long-term)	4,529	449
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member]
Investments in debt securities (short-term)	548	2,611
Investments in debt securities (long-term)	1,839	649
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member]
Investments in debt securities (short-term)	0	0
Investments in debt securities (long-term)	$ 0	$ 0

Note 3 - Significant Transactions (Details Textual)	Jan. 13, 2022	Jan. 12, 2022	Jan. 31, 2020	Feb. 16, 2017 USD ($) ft²	Mar. 10, 2016 USD ($) $ / shares shares	Sep. 30, 2024	Dec. 31, 2022	Jan. 23, 2020 USD ($) ft²	Oct. 26, 2016 USD ($) $ / shares shares
Area of Land (Square Foot) \| ft²				41,000
Lessor, Operating Lease, Term of Contract (Month)						62 months
Royalty Fee, Percentage of Net Sales	3.00%
Liquidmetal Golf [Member]
Noncontrolling Interest, Ownership Percentage by Parent							79.00%
Warrants in Connection with the 2016 Purchase Agreement [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)					10,066,809
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) \| $ / shares									$ 0.07
Warrants and Rights Outstanding, Term (Year)									10 years
Warrants in Connection with the 2016 Purchase Agreement [Member] \| Vest on March 10, 2016 [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)					2,609,913
Warrants in Connection with the 2016 Purchase Agreement [Member] \| Vest on October 26, 2016 [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)									7,456,896
The 2016 Purchase Agreement [Member]
Common Stock Purchase Agreement, Number of Shares Authorized to Issue and Sell to Investors (in shares)					405,000,000
Common Stock Purchase Agreement, Value of Shares Authorized to Issue and Sell to Investors \| $					$ 63,400,000
Stock Issued During Period, Shares, New Issues (in shares)					105,000,000
Stock Issued During Period, Value, New Issues \| $					$ 8,400,000
Sale of Stock, Price Per Share (in dollars per share) \| $ / shares					$ 0.08
Common Stock Purchase Agreement, Purchase Price per Share, After Satisfaction of Certain Conditions (in dollars per share) \| $ / shares									$ 0.15
Common Stock Purchase Agreement, the Other Purchase Price per Share, No Later than 90 Days after Satisfaction of Certain Conditions (in dollars per share) \| $ / shares									$ 0.25
Common Stock Purchase Agreement, Value of Shares Authorized to Be Purchased No Later than 90 Days after Satisfaction of Certain Conditions \| $									$ 55,000,000
The 2016 Purchase Agreement [Member] \| Common Stock, Purchase Price per Share of $0.15 [Member]
Common Stock Purchase Agreement, Remaining Number of Shares to be Purchased, After the Satisfaction of Certain Conditions (in shares)									200,000,000
The 2016 Purchase Agreement [Member] \| Common Stock, Purchase Price per Share of $0.25 [ Member]
Common Stock Purchase Agreement, Remaining Number of Shares to be Purchased, After the Satisfaction of Certain Conditions (in shares)									100,000,000
Light Industrial and Office Building [Member]
Area of Real Estate Property (Square Foot) \| ft²								32,534
Lessor, Operating Lease, Term of Contract (Month)								62 months
Lessor, Operating Lease Receivable, Per Month Initially \| $								$ 32,534
Lessor, Operating Lease Receivable Per Month Maximum \| $								$ 54,000
Percentage of Common Operating Expresses								79.00%
Lessee, Operating Lease, Extend Term of Contract (Month)								60 months
Yihao [Member]
Manufacturing Agreement, Term (Year)		5 years
Valencia Circle, LLC [Member]
Payments to Acquire Buildings \| $				$ 7,818,000
Eutectix [Member]
Business Development Agreement, Royalty Percentage			6.00%
Business Development Agreement, Term (Year)			5 years
ATJ [Member]
Sublicense Agreement, Term (Year)	3 years

Note 1 - Description of Business

9 Months Ended

Sep. 30, 2024

Business Description and Basis of Presentation [Text Block]

1. Description of Business

Liquidmetal Technologies, Inc. (the “Company”) is a materials technology company that works with manufacturing and commercial partners to develop and commercialize products made from proprietary amorphous alloys. The Company’s family of alloys consists of a variety of bulk alloys and composites that utilize the advantages offered by amorphous alloys technology. The Company works with partners to design, develop, and sell products and custom parts from bulk amorphous alloys for sale in a wide range of industries. The Company also partners 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 the Company believes 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. The Company believes that the alloys and the molding technologies it employs may 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 ability to form complex shapes common to the injection molding of plastics. Interestingly, all of these characteristics are achievable from the molding process, so design engineers often do not have to select specific alloys to achieve one or more of the characteristics as is the case with crystalline materials. The Company believes these advantages could result in Liquidmetal alloys supplanting high-performance alloys, such as titanium and stainless steel, and other incumbent materials in a wide variety of applications. Moreover, the Company believes these advantages could enable the introduction of entirely new products and applications that are not possible or commercially viable with other materials.

The Company’s bulk amorphous alloy technology is a relatively new technology as compared to many other material technologies, such as plastics and widely-used high-performance crystalline alloys. Historically, the successful commercialization of a new material technology has required the persistent improvement and refining of the technology over a sometimes lengthy period of time. Accordingly, the Company believes that its future success will be dependent on its ability to continue expanding and improving its technology platform by, among other things, constantly refining and improving its processes, optimizing its existing amorphous alloy compositions for various applications, and developing and improving new bulk amorphous alloy compositions.

The Company’s revenues are derived from i) selling bulk amorphous alloy custom products and parts for applications which include, but are not limited to, non-consumer electronic devices, medical products, automotive components, and sports and leisure goods; ii) selling tooling and prototype parts such as demonstration parts and test samples for customers with products in development; and iii) product licensing and royalty revenue.

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2024
Insider Trading Arr Line Items
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Note 12 - Other Current Liabilities

9 Months Ended

Sep. 30, 2024

Other Liabilities Disclosure [Text Block]

12. Other Current Liabilities

Other current liabilities consisted of the following:

	September 30,		December 31,
	2024		2023

Aged payables to vendors, individuals, and other third parties	$	859	$	859
Tenant deposits		43		43
Total	$	902	$	902

Aged payables to vendors, individuals, and other third parties consisted of payables that have been outstanding for more than 5 years.

Note 5 - Trade Accounts Receivable (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

	September 30,		December 31,
	2024		2023
Trade accounts receivable	$	67	$	186
Less: Allowance for doubtful accounts		-		-
Total trade accounts receivable, net	$	67	$	186

Unaudited Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net loss	$ (441)	$ (467)	$ (1,015)	$ (1,764)
Other comprehensive income (loss), net of tax
Net unrealized gains (losses) on available-for-sale securities	161	118	156	355
Other comprehensive income (loss), net of tax	161	118	156	355
Comprehensive loss	(279)	(349)	(859)	(1,409)
Less: Comprehensive loss attributable to noncontrolling interests	0	1	1	1
Comprehensive loss attributable to Liquidmetal Technologies shareholders	$ (279)	$ (348)	$ (858)	$ (1,408)

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

Note 3 - Significant Transactions

9 Months Ended

Sep. 30, 2024

Significant Transactions [Text Block]

3. Significant Transactions

Amorphology License Agreement

On March 15, 2024, Liquidmetal Technologies, Inc. (the “Company”) entered into a First Amendment to License Agreement (the “First Amendment”) with Amorphology Inc. (“Amorphology”), which amended a License Agreement, dated November 22, 2019, previously entered into by the Company and Amorphology (the “Original License Agreement,” and together with the First Amendment, the “Amended License Agreement”). The Company has determined that, as a result of the First Amendment, the Amended License Agreement has become a material definitive agreement of the Company.

The Amended License Agreement grants Amorphology a non-exclusive royalty bearing license under all patents, patent applications, and technical information of the Company in existence as of the date of the First Amendment to make, use, offer to sell, sell, export, and import products utilizing Engel injection molding machines in a field of use consisting of the worldwide industry for amorphous metal parts and components, excluding consumer electronic products, jewelry, certain luxury products, and other product categories and territories that are subject to a license grant to third parties. The license bears a running royalty equal to a percentage of Amorphology’s sales of licensed products as well as for sales to customers referred to Amorphology by the Company. The Company may also utilize Amorphology as a third-party contract manufacturer. The Amended License Agreement is for a term of five (5) years, with automatic 1-year extensions unless terminated by either party upon at least 6 months notice prior to the expiration of the then-current term.

Yihao Manufacturing Agreement

On January 12, 2022, the Company entered into a manufacturing agreement (“Manufacturing Agreement”) with Dongguan Yihao Metal Materials Technology Co. Ltd. (“Yihao”) to become the primary contract manufacturer of the Company’s products. Under the Manufacturing Agreement, which has a term of five years, Yihao has agreed to serve as a non-exclusive contract manufacturer for amorphous alloy parts offered and sold by the Company at prices determined on a “cost-plus” basis. Yihao is an affiliate of Dongguan Eontec Co. Ltd. and Professor Lugee Li, our Chairman and largest beneficial owner of the Company’s capital stock.

Corporate Facility Purchase and Lease

On February 16, 2017, the Company purchased a 41,000 square foot facility (the “Facility”) located in Lake Forest, CA, where operations commenced during July 2017. The purchase price for the Facility was $7,818.

On January 23, 2020, 20321 Valencia, LLC, a Delaware limited liability company and wholly owned subsidiary of the Company, entered into a lease agreement (the “Facility Lease”) pursuant to which the Company leased to MatterHackers, Inc., a Delaware corporation (“Tenant”), an approximately 32,534 square foot portion of the Facility. The lease term is for 5 years and 2 months and is scheduled to expire on April 30, 2025. The base rent payable under the Facility Lease is $32,534 per month initially and is subject to periodic increases up to a maximum of approximately $54,000 per month. Tenant will pay approximately 79% of common operating expresses. The Facility Lease has other customary provisions, including provisions relating to default and usage restrictions. The Facility Lease grants to Tenant a right to extend the lease for one additional 60-month period at market rental value.

2016 Purchase Agreement

On March 10, 2016, the Company entered into a Securities Purchase Agreement (the “2016 Purchase Agreement”) with Liquidmetal Technology Limited, a Hong Kong company (the “Investor”), which is controlled by the Company’s Chairman, Professor Li. The 2016 Purchase Agreement provided for the purchase by the Investor of a total of 405,000,000 shares of the Company’s common stock for an aggregate purchase price of $63,400. The transaction occurred in multiple closings, with the Investor having purchased 105,000,000 shares at a purchase price of $8,400 (or $0.08 per share) at the initial closing on March 10, 2016 and the remaining 200,000,000 shares at $0.15 per share and 100,000,000 shares at $0.25 per share for an aggregate purchase price of $55,000 on October 26, 2016.

In addition to the shares issuable under the 2016 Purchase Agreement, the Company issued to the Investor a warrant to acquire 10,066,809 shares of common stock (of which the right to exercise 2,609,913 of the warrant shares vested on March 10, 2016 and the right to exercise the remaining 7,456,896 warrant shares vested on October 26, 2016 at an exercise price of $0.07 per share). The warrant will expire on the tenth anniversary of its issuance date.

The 2016 Purchase Agreement also provided that, with certain limited exceptions, if the Company issues any shares of common stock at any time through the fifth anniversary of the 2016 Purchase Agreement, the Investor will have a preemptive right to subscribe for and to purchase at the same price per share (or at market price, in the case of issuance of shares pursuant to stock options) the number of shares necessary to maintain its ownership percentage of Company-issued shares of common stock.

Eontec License Agreement

On March 10, 2016, in connection with the 2016 Purchase Agreement, the Company and DongGuan Eontec Co., Ltd., a Hong Kong corporation (“Eontec”), entered into a Parallel License Agreement (the “License Agreement”) pursuant to which the Company and Eontec agreed to cross-license their respective technologies. The Company’s Chairman, Professor Li, is also the Chairman of Eontec.

The License Agreement provides for the cross-license of certain patents, technical information, and trademarks between the Company and Eontec. In particular, the Company granted to Eontec a paid-up, royalty-free, perpetual license to the Company’s patents and related technical information to make, have made, use, offer to sell, sell, export, and import products in certain geographic areas outside of North America and Europe. In turn, Eontec granted to the Company a paid-up, royalty-free, perpetual license to Eontec’s patents and related technical information to make, have made, use, offer to sell, sell, export, and import products in certain geographic areas outside of specified countries in Asia. The license granted by the Company to Eontec is exclusive (including to the exclusion of the Company) in the countries of Brunei, Cambodia, China (P.R.C and R.O.C.), East Timor, Indonesia, Japan, Laos, Malaysia, Myanmar, Philippines, Singapore, South Korea, Thailand, and Vietnam. The license granted by Eontec to the Company is exclusive (including to the exclusion of Eontec) in North America and Europe. The cross-licenses are non-exclusive in geographic areas outside of the foregoing exclusive territories.

Eutectix Business Development Agreement

On January 31, 2020, the Company entered into a Business Development Agreement (the “Agreement”) with Eutectix, LLC, a Delaware limited liability company (“Eutectix”), which provides for collaboration, joint development efforts, and the manufacturing of products based on the Company’s proprietary amorphous metal alloys. Under the Agreement, the Company licensed to Eutectix specified equipment owned by the Company, including two injection molding machines, two diecasting machines, and other machines and equipment, all of which will be used to make product for Company customers and Eutectix customers. The licensed machines and equipment represented substantially all of the machinery and equipment then held by the Company. The Company has also licensed to Eutectix various patents and technical information related to the Company’s proprietary technology. Under the Agreement, Eutectix agreed to pay the Company a royalty of six percent (6%) of the net sales price of licensed products sold by Eutectix, and Eutectix will also manufacture for the Company product ordered by the Company. The Agreement has a term of five years, subject to renewal provisions and the ability of either party to terminate earlier upon specified circumstances.

Apple License Transaction

On August 5, 2010, the Company entered into a license transaction with Apple Inc. (“Apple”) pursuant to which (i) the Company contributed substantially all of its intellectual property assets to a newly organized special-purpose, wholly-owned subsidiary, called Crucible Intellectual Property, LLC (“CIP”), (ii) CIP granted to Apple a perpetual, worldwide, exclusive license to commercialize such intellectual property in the field of consumer electronic products, as defined in the license agreement, in exchange for a one-time, upfront license fee, and (iii) CIP granted back to the Company a perpetual, worldwide, fully-paid, exclusive license to commercialize such intellectual property in all other fields of use.

Under the agreements relating to the license transaction with Apple, the Company was obligated to contribute, to CIP, all intellectual property developed through February 2016. The Company is also obligated to maintain certain limited liability company formalities with respect to CIP at all times after the closing of the license transaction.

Liquidmetal Golf Sublicense Agreement

Liquidmetal Golf Inc. (“Liquidmetal Golf” or “LMG”) is a majority-owned subsidiary which has the exclusive right and license to utilize our Liquidmetal alloy technology for purposes of golf equipment applications. This right and license is set forth in an intercompany license agreement dated January 1, 2002 between Liquidmetal Technologies and Liquidmetal Golf. This license agreement provides that Liquidmetal Golf has a perpetual and exclusive license to use Liquidmetal alloy technology for the purpose of manufacturing, marketing, and selling golf club components and other products used in the sport of golf. The Company owns 79% of the outstanding common stock in Liquidmetal Golf.

On January 13, 2022, Liquidmetal Golf entered into a sublicense agreement (“LMG Sublicense Agreement”) with Amorphous Technologies Japan, Inc. (“ATJ”), a newly formed Japanese entity that was established by Twins Corporation, a sporting goods company operating in Japan. Under the agreement, LMG granted ATJ a nonexclusive worldwide sublicense to the Company’s amorphous alloy technology and related trademarks to manufacture and sell golf clubs and golf related products. The LMG Sublicense Agreement has a term of three years and provides for the payment of a running royalty to LMG of 3% of the net sales price of licensed products.

Swatch Group License

In March 2009, the Company entered into a license agreement with Swatch Group, Ltd. (“Swatch”) under which Swatch was granted a non-exclusive license to the Company’s technology to produce and market watches and certain other luxury products. In March 2011, this license agreement was amended to grant Swatch exclusive rights as to watches as against all third parties (including the Company), but non-exclusive as to Apple. The Company will receive royalty payments over the life of the contract on all Liquidmetal products produced and sold by Swatch. The license agreement with Swatch will expire on the expiration date of the last licensed patent.

Note 10 - Other Assets

9 Months Ended

Sep. 30, 2024

Other Assets Disclosure [Text Block]

10. Other Assets

Other assets consisted of the following:

	September 30,		December 31,
	2024		2023

Utility deposits	$	14	$	14
Prepaid lease costs and receivables- long term		-		209
Total	$	14	$	223

Note 4 - Investments in Debt Securities

9 Months Ended

Sep. 30, 2024