LQMT Liquidmetal Technologies Inc (QB)

Liquidmetal® Technologies, Inc. (OTCQB: LQMT), the leading developer of amorphous alloys and composites, reported results for the fiscal year ended December 31, 2014.

FY 2014 Operational Highlights

• Introduced a Certified Liquidmetal Alloy from Materion
• Paul Hauck joined the Company as VP of Sales
• Settled arbitration with Visser Precision Cast in the best interest of shareholders
• Set up a $30M Equity Line of Credit
• Opened up the Liquidmetal Manufacturing Center of Excellence in Rancho Santa Margarita, Ca.
• Booked the Company’s first production order with Miltner Adams

Management Commentary

“2014 represented another significant milestone in the evolution of Liquidmetal as we made the shift from a pure technology company to a full-service Sales, Marketing, Engineering, and Manufacturing supplier with the opening of our Manufacturing Center of Excellence and the acceptance of our first commercial production order from the Miltner Adams company for a custom-designed knife.” Said Tom Steipp, President and CEO.

2014 Financial Summary

In 2014, the company generated $603 thousand in revenue as it continued to focus on the development of prototype and commercial parts for its customers and partnering with licensees on the development of the Company’s technology and production processes.

Selling, marketing, general and administrative expense was $7.5 million in 2014 compared to $5.2 million in 2013. The increase was primarily due to additional compensation expenses associated with new personnel to support our sales and business development efforts as we continue to aggressively expand our sales and marketing presence within our current markets.

Research and development expense was $1.6 million in 2014 compared to $1.2 million in 2013. The increase from the prior year was mainly due to additional headcount to support the build out of the Company’s material and process development efforts.

Cash totaled $10.0 million at December 31, 2014, as compared to $2.1 million at December 31, 2013.

Conference Call

Liquidmetal Technologies management will hold a conference call later today (March 4th, 2015) to discuss these results. The Company’s President and CEO Tom Steipp and CFO Tony Chung will host the call starting at 4:30 p.m. Eastern time. A question and answer session will follow management’s presentation.

Date: Wednesday, March 4th, 2015Time: 4:30 p.m. Eastern time (1:30 p.m. Pacific time)Dial-In Number: 1-888-481-2844International: 1-719-457-1035Conference ID: 3705802

The conference call will be broadcast simultaneously and available for replay via the investor section of the Company's website at www.liquidmetal.com.

Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization.

A replay of the call will be available after 7:30 p.m. Eastern time on the same day through March 11th, 2015.

Toll-Free Replay Number: 1-888-203-1112International Replay Number: 1-719-457-0820Replay PIN Number: 3705802

About Liquidmetal Technologies

Rancho Santa Margarita, California-based Liquidmetal Technologies, Inc. is the leading developer of bulk alloys and composites that utilize the performance advantages offered by amorphous alloy technology. Amorphous alloys are unique materials that are distinguished by their ability to retain a random structure when they solidify, in contrast to the crystalline atomic structure that forms in ordinary metals and alloys. Liquidmetal Technologies is the first company to produce amorphous alloys in commercially viable bulk form, enabling significant improvements in products across a wide array of industries. For more information, go to www.liquidmetal.com.

Forward-Looking Statement

This press release contains "forward-looking statements," including but not limited to statements regarding the advantages of Liquidmetal's amorphous alloy technology, scheduled manufacturing of customer parts and other statements associated with Liquidmetal's technology and operations. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from Liquidmetal's expectations and projections. Risks and uncertainties include, among other things; customer adoption of Liquidmetal's technologies and successful integration of those technologies into customer products; potential difficulties or delays in manufacturing products incorporating Liquidmetal's technologies; Liquidmetal's ability to fund its current and anticipated operations; the ability of third party suppliers and manufacturers to meet customer product requirements; general industry conditions; general economic conditions; and governmental laws and regulations affecting Liquidmetal's operations. Additional information concerning these and other risk factors can be found in Liquidmetal's public periodic filings with the U.S. Securities and Exchange Commission, including the discussion under the heading "Risk Factors" in Liquidmetal's 2014 Annual Report on Form 10-K.

LIQUIDMETAL TECHNOLOGIES, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (in thousands, except par value and share data)     December 31,   December 31,   2014     2013     ASSETS   Current assets: Cash $ 10,009 $ 2,062 Trade accounts receivable, net of allowance for doubtful accounts 83 215 Prepaid expenses and other current assets   374     412   Total current assets $ 10,466 $ 2,689 Property and equipment, net 1,118 249 Patents and trademarks, net 669 764 Other assets   31     401   Total assets $ 12,284   $ 4,103    

LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)

  Current liabilities: Accounts payable 155 361 Accrued liabilities 705 710 Convertible note, net of debt discount - - Embedded conversion feature liability   -     -   Total current liabilities $ 860 $ 1,071   Long-term liabilities Warrant liabilities 2,005 4,921 Other long-term liabilities   856     856   Total liabilities $ 3,721 $ 6,848   Shareholders' equity (deficit): Preferred Stock, $0.001 par value; 10,000,000 shares authorized; 0 shares issued and outstanding at December 31, 2014 and December 31, 2013, respectively - - Common stock, $0.001 par value; 700,000,000 shares authorized; 464,482,819 and 375,707,190 shares issued and outstanding at December 31, 2014 and December 31, 2013, respectively 464 376 Warrants 18,179 18,179 Additional paid-in capital 200,610 182,832 Accumulated deficit (210,636 ) (204,090 ) Non-controlling interest in subsidiary   (54 )   (42 ) Total shareholders' equity (deficit) $ 8,563 $ (2,745 )     Total liabilities and shareholders' equity (deficit) $ 12,284   $ 4,103     LIQUIDMETAL TECHNOLOGIES, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS and COMPREHENSIVE LOSS (in thousands, except share and per share data)       Years Ended December 31,   2014       2013     Revenue Products $ 565 $ 1,007 Licensing and royalties   38     19   Total revenue 603 1,026   Cost of revenue   483     774   Gross margin 120 252   Operating expenses Selling, marketing, general and administrative 7,463 5,157 Research and development   1,596     1,156   Total operating expenses   9,059     6,313   Operating loss (8,939 ) (6,061 )   Change in value of warrants, gain (loss) 2,700 (2,155 ) Change in value of embedded conversion feature liability, gain - 621 Debt discount amortization expense (373 ) (6,504 ) Other income 30 - Interest expense - (245 ) Interest income 24 5 Gain on extinguishment of debt (Note 10)   -     91     Loss before income taxes (6,558 ) (14,248 )   Income taxes   -     -     Net loss and comprehensive loss (6,558 ) (14,248 )   Net loss attributable to non-controlling interest   12     42   Net loss and comprehensive loss attributable to Liquidmetal Technologies shareholders   (6,546 )   (14,206 )     Per common share basic and diluted:   Net loss per common share attributable to Liquidmetal Technologies shareholders, basic $ (0.01 ) $ (0.04 )   Net loss per common share attributable to Liquidmetal Technologies shareholders, diluted $ (0.01 ) $ (0.04 )   Number of weighted average shares - basic   441,439,018     341,451,559   Number of weighted average shares - diluted   441,439,018     341,451,559  

Liquidmetal Technologies, Inc.Otis BuchananMedia Relations949-635-2120otis.buchanan@liquidmetal.com