87 unchanged sentences
We are engaged in product development efforts relating to various automotive components that could be made from bulk Liquidmetal alloys.
−Removed: We believe that the unique properties of bulk Liquidmetal alloys provide the combination of long-lasting surface finish, corrosion resistance, strength, and precision required by most automotive applications, especially for the EV space.
+Added: We believe that the unique properties of bulk Liquidmetal alloys provide the combination of long-lasting surface finish, corrosion resistance, strength, and precision required by most automotive applications.
The potential value offered by our alloys is higher performance in some cases and cost reduction in others, the latter stemming from the ability of Liquidmetal alloys to be net shape molded into components, thus reducing costs of secondary processing common with existing processes.
27 unchanged sentences
Eutectix Business Development Agreement
−Removed: On January 31, 2020, we 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 our proprietary amorphous metal alloys.
−Removed: Under the Agreement, we have agreed to license to Eutectix specified equipment owned by us, including two injection molding machines, the Machines, and other machines and equipment, all of which will be used to make products for our customers and Eutectix customers.
−Removed: The licensed machines and equipment represent substantially all of the machinery and equipment currently held by us.
−Removed: We have also licensed to Eutectix various patents and technical information related to our proprietary technology.
−Removed: Under the Agreement, Eutectix will pay us a royalty of six percent (6%) of the net sales price of licensed products sold by Eutectix, and Eutectix will also manufacture products for us.
−Removed: The Agreement has a term of five years, subject to renewal provisions and the ability of either party to terminate earlier upon specified circumstances.
+Added: On January 31, 2020, we entered into a Business Development Agreement (the “Agreement”) with Eutectix, LLC, a Delaware limited liability company (“Eutectix”), which provided for collaboration, joint development efforts, and the manufacturing of products based on our proprietary amorphous metal alloys.
+Added: Under the Agreement, we agreed to license to Eutectix specified equipment owned by us, including two injection molding machines, the Machines, and other machines and equipment, all of which would be used to make products for our customers and Eutectix customers.
+Added: We also licensed to Eutectix various patents and technical information related to our proprietary technology.
+Added: The Agreement expired in January 2025.
Apple License Transaction
12 unchanged sentences
Under the agreement, LMG granted to 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.
−Removed: 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.
+Added: The LMG Sublicense Agreement had an initial a term of three years and has been extended for another three year term that provides for the payment of a running royalty to LMG of 3% of the net sales price of licensed products.
Our Intellectual Property
39 unchanged sentences
During 2023, there were three major customers, who together accounted for 86% of our revenue.
−Removed: As of December 31, 2023, two customers represented 96%, or $178, of the total outstanding trade accounts receivable.
As of December 31, 2024, one customer represented 83%, or $74, of the total outstanding trade accounts receivable.
+Added: As of December 31, 2023, two customers represented 96%, or $178, of the total outstanding trade accounts receivable.
In the future, we expect that a significant portion of our revenue may continue to be concentrated in a limited number of customers, even if our bulk alloys business grows.
44 unchanged sentences
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.