8 unchanged sentences
We have experienced significant cumulative operating losses since our inception.
−Removed: Our operating loss for the fiscal years ended December 31, 2022 and 2021 were $3.1 million and $4.1 million, respectively.
+Added: Our operating loss for the years ended December 31, 2023 and 2022 were $2.0 million and $2.4 million, respectively.
We had an accumulated deficit of approximately $276.7 million at December 31, 2023, and approximately $274.7 million at December 31, 2022.
2 unchanged sentences
We have a limited history of developing and selling products made from our bulk amorphous alloys.
−Removed: We have a relatively limited history of producing bulk amorphous alloy components and products on a mass-production scale. 
−Removed: Furthermore, our suppliers’
−Removed: ability to produce our products in desired quantities and at commercially reasonable prices is uncertain and is dependent on a variety of factors that are outside of its control, including the nature and design of the component, the customer’s specifications, and required delivery timelines.
+Added: We have a relatively limited history of producing bulk amorphous alloy components and products on a mass-production scale.
+Added: Furthermore, our suppliers’ ability to produce our products in desired quantities and at commercially reasonable prices is uncertain and is dependent on a variety of factors that are outside of its control, including the nature and design of the component, the customer’s specifications, and required delivery timelines.
We rely on assumptions about the markets for our products and components that, if incorrect, may adversely affect our profitability.
8 unchanged sentences
Such events could cause significant delays in shipments and may adversely affect our revenue, cost of goods sold and results of operations.
−Removed: The recent outbreak of COVID-19 and measures intended to prevent its spread may have a significant negative impact on our business, results of operations, and financial condition.
−Removed: The global pandemic resulting from the outbreak of the novel coronavirus (“COVID-19”) has disrupted our operations beginning in March 2020.
−Removed: Federal, state, and local mandates implementing quarantines, “shelter in place”
−Removed: orders, business limitations and/or shutdowns (subject to exceptions for certain essential operations and businesses) aimed at limiting the spread of COVID-19, have resulted in delays to our planned development pipeline.
−Removed: While we are not currently experiencing any supply chain or labor force shortages, our ability to maintain our supply chain and labor force may have become challenging as a result of the COVID-19 pandemic.
−Removed: The COVID-19 pandemic and related circumstances may also adversely affect our ability to implement our growth plans, including delays in product development initiatives.
−Removed: As this situation is ongoing and the duration and severity of the COVID-19 pandemic is uncertain at this time, it is difficult to forecast any long-term impacts on our future operating results.
−Removed: However, we expect the COVID-19 pandemic to adversely impact our development pipeline and, depending on the severity and longevity of the COVID-19 pandemic, the efforts taken to reduce its spread and the possibility of a resurgence of the COVID-19 outbreak could impact our asset values, including investments in debt securities and long-lived assets, and have a material adverse effect on our financial results, future operations, and liquidity.
−Removed: Even after the COVID-19 pandemic has subsided, we may continue to experience negative impacts to our financial results due to COVID-19’s global economic impact, including the availability of credit generally, decreases in our customers’
−Removed: discretionary spending on development projects, and any economic slowdown or recession that has occurred or may occur in the future.
Risk Related to Customer Relationships
If we cannot establish and maintain relationships with customers that incorporate our components and products into their finished goods, we will not be able to increase our revenue and commercialize our products.
−Removed: Our business is based upon the commercialization of a new and unique materials technology.
+Added: Our business is based upon the commercialization of new and unique materials technology.
Our ability to increase our revenues will depend on our ability to successfully maintain and establish relationships with customers who are willing to incorporate our proprietary alloys and technology into their finished products.
2 unchanged sentences
Our future growth and success will depend in large part on our ability to enter into these relationships and the subsequent success of these relationships.
−Removed: Even if our products are selected for use in a customer’s products, we still may not realize significant revenue from that customer if that customer’s products are not commercially successful.
+Added: Even if our products are selected for use in a customer’s products, we still may not realize significant revenue from that customer if that customer’s products are not commercially successful.
It may take significant time and cost for us to develop new customer relationships, which may delay our ability to generate additional revenue or achieve profitability.
8 unchanged sentences
Our history to date has demonstrated that the sales cycle could extend beyond one year.
−Removed: The time it takes to transition a customer from limited production to full-scale production runs will depend upon the nature of the processes and products into which our Liquidmetal alloys are integrated. 
+Added: The time it takes to transition a customer from limited production to full-scale production runs will depend upon the nature of the processes and products into which our Liquidmetal alloys are integrated.
Moreover, we have found that customers often proceed very cautiously and slowly before incorporating a fundamentally new and unique type of material into their products.
1 unchanged sentence
Our experience has shown that our customers will perform numerous tests and extensively evaluate our components and products before incorporating them into their finished products.
−Removed: The time required for testing, evaluating, and designing our components and products into a customer’s products, and in some cases, obtaining regulatory approval, can be significant, with an additional period of time before a customer commences volume production of products incorporating our components and products, if ever.
+Added: The time required for testing, evaluating, and designing our components and products into a customer’s products, and in some cases, obtaining regulatory approval, can be significant, with an additional period of time before a customer commences volume production of products incorporating our components and products, if ever.
Moreover, because of this lengthy development cycle, we may experience a delay between the time we accrue expenses for research and development and sales and marketing efforts and the time when we generate revenue, if any.
7 unchanged sentences
Our future revenue growth and ultimate profitability will depend in part on the ability of our customers and licensees to successfully market and sell their finished goods that incorporate our products.
−Removed: We may have little control over our customers’
−Removed: and licensees’
−Removed: marketing and sales efforts.
+Added: We may have little control over our customers’ and licensees’ marketing and sales efforts.
These marketing and sales efforts may be unsuccessful for various reasons, any of which could hinder our ability to increase revenue or achieve profitability.
15 unchanged sentences
Our bulk amorphous alloy technology is still at an early stage of commercialization relative to many other materials.
−Removed: Our 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. 
−Removed: 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. 
−Removed: Accordingly, we believe that our company’s future success will be dependent on our ability to continue expanding and improving our technology platform by, among other things, constantly refining and improving our processes, optimizing our existing amorphous alloy compositions for various applications, and developing and improving new bulk amorphous alloy compositions. 
+Added: Our 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.
+Added: 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.
+Added: Accordingly, we believe that our company’s future success will be dependent on our ability to continue expanding and improving our technology platform by, among other things, constantly refining and improving our processes, optimizing our existing amorphous alloy compositions for various applications, and developing and improving new bulk amorphous alloy compositions.
Our failure to further expand our technology base could limit our growth opportunities and hamper our commercialization efforts.
7 unchanged sentences
Our future growth and success will depend in part on our ability to retain key members of our management and engineering staff, who are familiar with this technology and the potential applications and markets for it.
−Removed: We do not have “key man”
−Removed: or similar insurance on any of the key members of our management and engineering staff.
+Added: We do not have “key man” or similar insurance on any of the key members of our management and engineering staff.
If we lose their services or the services of other key personnel, our financial results or business prospects may be harmed.
29 unchanged sentences
Our inability to protect our licenses, patents, trademarks, and proprietary rights in the United States and foreign countries could harm our business.
−Removed: We own several patents relating to amorphous alloy technology, and we have other rights to amorphous alloy patents through an exclusive license from Caltech. 
+Added: We own several patents relating to amorphous alloy technology, and we have other rights to amorphous alloy patents through an exclusive license from Caltech.
Our success depends in part on our ability to obtain and maintain patent and other proprietary right protection for our technologies and products in the United States and other countries.
8 unchanged sentences
The laws of some foreign countries do not protect proprietary rights to the same extent as the laws of the United States, and we may encounter significant problems and costs in protecting our proprietary rights in these foreign countries.
−Removed: In August 2010, we entered into a license transaction with Apple pursuant to which (i) we contributed substantially all of our intellectual property assets to a special-purpose, wholly-owned subsidiary, Crucible Intellectual Property (“CIP”), (ii) CIP granted to Apple a perpetual, worldwide, fully-paid, exclusive license to commercialize such intellectual property in the field of consumer electronic products, as defined in the license agreement, and (iii) CIP granted back to us a perpetual, worldwide, fully-paid, exclusive license to commercialize such intellectual property in all other fields of use.
+Added: In August 2010, we entered into a license transaction with Apple pursuant to which (i) we contributed substantially all of our intellectual property assets to a special-purpose, wholly-owned subsidiary, Crucible Intellectual Property (“CIP”), (ii) CIP granted to Apple a perpetual, worldwide, fully-paid, exclusive license to commercialize such intellectual property in the field of consumer electronic products, as defined in the license agreement, and (iii) CIP granted back to us a perpetual, worldwide, fully-paid, exclusive license to commercialize such intellectual property in all other fields of use.
Patent law is still evolving relative to the scope and enforceability of claims in the fields in which we operate.
13 unchanged sentences
Evolving regulation of corporate governance and public disclosure may result in additional expenses and continuing uncertainty.
−Removed: Changing laws, regulations and standards relating to corporate governance and public disclosure, including the SEC XBRL mandate, new SEC regulations and International Financial Reporting Standards (“IFRS”), are creating uncertainty for public companies.
+Added: Changing laws, regulations and standards relating to corporate governance and public disclosure, including the SEC XBRL mandate, new SEC regulations and International Financial Reporting Standards (“IFRS”), are creating uncertainty for public companies.
As a result of these new rules and the size and limited resources of our company, we will incur additional costs associated with our public company reporting requirements, and we may not be able to comply with some of these new rules.
22 unchanged sentences
The existence of minority shareholders in our Liquidmetal Golf subsidiary creates potential for conflicts of interest.
−Removed: We directly own 79% of the outstanding capital stock of Liquidmetal Golf, our subsidiary that has the exclusive right to commercialize our technology in the golf market. 
+Added: We directly own 79% of the outstanding capital stock of Liquidmetal Golf, our subsidiary that has the exclusive right to commercialize our technology in the golf market.
The remaining 21% of the Liquidmetal Golf stock is owned by approximately 95 shareholders of record.
As a result, conflicts of interest may develop between us and the minority shareholders of Liquidmetal Golf.
−Removed: To the extent that our officers and directors are also officers or directors of Liquidmetal Golf, matters may arise that place the fiduciary duties of these individuals in conflicting positions. 
+Added: To the extent that our officers and directors are also officers or directors of Liquidmetal Golf, matters may arise that place the fiduciary duties of these individuals in conflicting positions.
Our executive officers, directors and insiders and entities affiliated with them hold a significant percentage of our common stock, and these shareholders may take actions that may be adverse to your interests.
4 unchanged sentences
Our stock price has experienced volatility and may continue to experience volatility.
−Removed: During 2022, the highest bid price for our common stock was $0.17 per share, while the lowest bid price during that period was $0.06 per share. 
+Added: During 2023, the highest bid price for our common stock was $0.09 per share, while the lowest bid price during that period was $0.04 per share.
The trading price of our common stock could continue to fluctuate widely due to:
15 unchanged sentences
The trading prices of securities of many companies at our stage of growth have fluctuated broadly, often for reasons unrelated to the operating performance of the specific companies.
−Removed: These general market and industry factors may adversely affect the trading price of our common stock, regardless of our actual operating performance. 
−Removed: If our stock price is volatile, we could face securities class action litigation, which could result in substantial costs and a diversion of management’s attention and resources and could cause our stock price to fall.
+Added: These general market and industry factors may adversely affect the trading price of our common stock, regardless of our actual operating performance.
+Added: If our stock price is volatile, we could face securities class action litigation, which could result in substantial costs and a diversion of management’s attention and resources and could cause our stock price to fall.
Future sales of our common stock could depress our stock price.
2 unchanged sentences
A limited public trading market exists for our common stock, which makes it more difficult for our shareholders to sell their common stock in the public markets.
−Removed: Our common stock is currently traded under the symbol “LQMT”
−Removed: and currently trades at a low volume, based on quotations on the “Over-the-Counter”
−Removed: exchanges, meaning that the number of persons interested in purchasing our common stock at or near bid prices at any given time may be relatively small or non-existent.
+Added: Our common stock is currently traded under the symbol “LQMT” and currently trades at a low volume, based on quotations on the “Over-the-Counter” exchanges, meaning that the number of persons interested in purchasing our common stock at or near bid prices at any given time may be relatively small or non-existent.
This situation is attributable to a number of factors, including the fact that we are a small company which is still relatively unknown to stock analysts, stock brokers, institutional investors, and others in the investment community that generate or influence sales volume, and that even if we came to the attention of such persons, they tend to be risk-averse and might be reluctant to follow an unproven company such as ours or purchase or recommend the purchase of our stock until such time as we became more viable.
7 unchanged sentences
As a result, capital appreciation, if any, of our common stock will be the sole source of gain for the foreseeable future for our common shareholders.
−Removed: FINRA sales practice requirements may also limit a shareholder ’
−Removed: s ability to buy and sell our stock.
−Removed: The Financial Industry Regulatory Authority (“FINRA”) has adopted rules that require a broker-dealer to have reasonable grounds for believing that an investment is suitable for a customer prior to recommending the investment to such customer.
+Added: FINRA sales practice requirements may also limit a shareholder ’ s ability to buy and sell our stock.
+Added: The Financial Industry Regulatory Authority (“FINRA”) has adopted rules that require a broker-dealer to have reasonable grounds for believing that an investment is suitable for a customer prior to recommending the investment to such customer.
Prior to recommending speculative low priced securities to their non-institutional customers, broker-dealers must make reasonable efforts to obtain information about the customer's financial status, tax status, investment objectives and other information.
6 unchanged sentences
These provisions:
−Removed: authorize our board of directors, without shareholder approval, to issue up to 10,000,000 shares of “blank check” preferred stock that could be issued by our board of directors to increase the number of outstanding shares and prevent a takeover attempt;
−Removed: limit shareholders’ ability to call a special meeting of our shareholders;
+Added: authorize our board of directors, without shareholder approval, to issue up to 10,000,000 shares of “blank check” preferred stock that could be issued by our board of directors to increase the number of outstanding shares and prevent a takeover attempt;
+Added: limit shareholders’ ability to call a special meeting of our shareholders;
establish advance notice requirements to nominate directors for election to our board of directors or to propose matters that can be acted on by shareholders at shareholder meetings.
4 unchanged sentences
We use third-party technology and systems for a variety of reasons, including, without limitation, encryption and authentication technology, employee email, content delivery to customers, back-office support, and other functions.
−Removed: Failure to follow applicable regulations related to those activities, or to prevent or mitigate data loss or other security breaches, including breaches of our business partners’
−Removed: technology and systems could expose us and/or our customers and vendors to a risk of loss or misuse of such information, which could adversely affect our operating results, result in regulatory enforcement, other litigation and potential liability, and otherwise harm our business.
+Added: Failure to follow applicable regulations related to those activities, or to prevent or mitigate data loss or other security breaches, including breaches of our business partners’ technology and systems could expose us and/or our customers and vendors to a risk of loss or misuse of such information, which could adversely affect our operating results, result in regulatory enforcement, other litigation and potential liability, and otherwise harm our business.
Our ability to effectively manage our business and coordinate the production, distribution, and sale of our products depends significantly on the reliability and capacity of these systems and third-party service providers.
10 unchanged sentences
Professor Li, through his affiliates, is the largest beneficial owner of our common stock and owns approximately 45.5% of our common stock and is able to exercise significant influence over all matters affecting us, including the election of directors, formation and execution of business strategy and approval of mergers, acquisitions and other significant corporate transactions, which may have an adverse effect on our stock price and ability to execute our strategic initiatives.
−Removed: As a result of this significant ownership and his affiliation with Yihao, as well as the future importance of Yihao as a manufacturer of the Company’s products, Professor Li may have conflicts of interest and interests that are not aligned with those of other stockholders of the Company.
+Added: As a result of this significant ownership and his affiliation with Yihao, as well as the future importance of Yihao as a manufacturer of the Company’s products, Professor Li may have conflicts of interest and interests that are not aligned with those of other stockholders of the Company.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.