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                                                                   EXHIBIT 10.7

NEITHER THESE SECURITIES NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE
CONVERTIBLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION IN
RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933,
AS AMENDED (THE "SECURITIES ACT"), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD
EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT
OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO,
THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.

THIS NOTE DOES NOT REQUIRE PHYSICAL SURRENDER OF THE NOTE IN THE EVENT OF A
PARTIAL REDEMPTION OR CONVERSION. AS A RESULT, FOLLOWING ANY REDEMPTION OR
CONVERSION OF ANY PORTION OF THIS NOTE, THE OUTSTANDING PRINCIPAL AMOUNT
REPRESENTED BY THIS NOTE MAY BE LESS THAN THE PRINCIPAL AMOUNT AND ACCRUED
INTEREST SET FORTH BELOW.

                  6% SENIOR CONVERTIBLE NOTE DUE MARCH 1, 2007

                                       OF

                         LIQUIDMETAL TECHNOLOGIES, INC.

                             (U.S.-BASED INVESTORS)

NOTE NO.:  A-___                          ORIGINAL PRINCIPAL AMOUNT: $__________
ORIGINAL ISSUANCE DATE:   MARCH 1, 2004                  LAKE FOREST, CALIFORNIA

         THIS NOTE ("NOTE") is one of a duly authorized issue of Notes issued by
LIQUIDMETAL TECHNOLOGIES, INC., a corporation duly organized and existing under
the laws of the State of Delaware (the "COMPANY"), designated as the Company's
6% Senior Convertible Note Due March 1, 2007 ("MATURITY DATE") in an aggregate
principal amount equal to Six Million Nine-Hundred and Twenty-Four Thousand and
One U.S. Dollars (U.S. $6,924,001.00) (the "Notes").

         FOR VALUE RECEIVED, the Company hereby promises to pay to the order of
___________, or its registered assigns or successors-in-interest ("HOLDER") the
principal sum of _________________________________ (U.S. $__________) together
with all accrued but unpaid interest thereon, if any, on the Maturity Date, to
the extent such principal amount and interest has not been converted into the
Company's Common Stock, $0.001 par value per share (the "COMMON STOCK"), in
accordance with the terms hereof. Interest on the unpaid principal balance
hereof shall accrue at the rate of 6% per annum from the original date of
issuance, March 1, 2004 (the "ISSUANCE DATE"), until the same becomes due and
payable on the Maturity Date, or such earlier date upon acceleration or by
conversion or redemption in accordance with the terms hereof or of the other
Transaction Documents. Interest on this Note shall accrue daily commencing on
the Issuance Date and shall be computed on the basis of a 360-day year, 30-day
months and actual days elapsed and shall be payable in accordance with Section 1
hereof. Notwithstanding anything contained herein, this Note shall bear interest
on the due and unpaid Principal Amount from and after the occurrence and during
the continuance of an Event of

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Default pursuant to Section 4(a), at the rate (the "DEFAULT RATE") equal to the
lower of ten percent (10%) per annum or the highest rate permitted by law.
Unless otherwise agreed or required by applicable law, payments will be applied
first to any unpaid collection costs, then to unpaid interest and fees and any
remaining amount to principal.

         Except as otherwise provided herein, all payments of principal and
interest on this Note shall be made in lawful money of the United States of
America by wire transfer of immediately available funds to such account as the
Holder may from time to time designate by written notice in accordance with the
provisions of this Note. This Note may not be prepaid in whole or in part except
as otherwise provided herein or in the Transaction Documents. Whenever any
amount expressed to be due by the terms of this Note is due on any day which is
not a Business Day (as defined below), the same shall instead be due on the next
succeeding day which is a Business Day.

         Capitalized terms used herein and not otherwise defined shall have the
meanings set forth in the Securities Purchase Agreement dated on or about the
Issuance Date pursuant to which the Note was originally issued (the "PURCHASE
AGREEMENT"). For purposes hereof the following terms shall have the meanings
ascribed to them below:

         "BUSINESS DAY" shall mean any day other than a Saturday, Sunday or a
day on which commercial banks in the City of New York are authorized or required
by law or executive order to remain closed.

          "CONVERSION PRICE" shall be $3.00 (U.S.) per share (which Conversion
Price shall be subject to adjustment as set forth herein).

         "CONVERTIBLE SECURITIES" means any convertible securities, warrants,
options or other rights to subscribe for or to purchase or exchange for, shares
of Common Stock.

         "DEBT" shall mean indebtedness of any kind.

         "EFFECTIVE DATE" means the date on which a Registration Statement
covering all the Underlying Shares and other Registrable Securities (as defined
in the Registration Rights Agreement) is declared effective by the SEC.

         "EFFECTIVE REGISTRATION" shall have the meaning set forth in the
Purchase Agreement.

         "EXCHANGE ACT" shall mean the Securities Exchange Act of 1934, as
amended.

         "MARKET PRICE" shall equal the average closing price of the Common
Stock on the Principal Market for the five (5) Trading Days immediately
preceding the date on which such Market Price is being determined.

         "PER SHARE SELLING PRICE" shall include the amount actually paid by
third parties for each share of Common Stock in a sale or issuance by the
Company. A sale of shares of Common Stock shall include the sale or issuance of
rights, options, warrants or convertible, exchangeable or exercisable
securities, issued or sold on or subsequent to the Closing Date, under which the
Company is or may become obligated to issue shares of Common Stock, and in such
circumstances the Per Share Selling Price of the Common Stock covered thereby
shall also include the exercise, exchange or conversion price thereof (in
addition to the consideration

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received by the Company upon such sale or issuance less the fee amount as
provided above). If shares are issued for a consideration other than cash, the
Per Share Selling Price shall be the fair value of such consideration as
determined in good faith by the board of directors of the Company.

         "PRINCIPAL AMOUNT" shall refer to the sum of (i) the original principal
amount of this Note, (ii) all accrued but unpaid interest hereunder, and (iii)
any default payments owing under the Transaction Documents but not previously
paid or added to the Principal Amount.

         "PRINCIPAL MARKET" shall mean the Nasdaq National Market or such other
principal market or exchange on which the Common Stock is then listed for
trading.

         "REGISTRATION STATEMENT" shall have the meaning set forth in the
Registration Rights Agreement.

         "SECURITIES ACT" shall mean the Securities Act of 1933, as amended.

         "TRADING DAY" shall mean a day on which there is trading on the Nasdaq
National Market or such other market or exchange on which the Common Stock is
then principally traded.

         "UNDERLYING SHARES" means the shares of Common Stock into which the
Note is convertible (including repayment in Common Stock as set forth herein) in
accordance with the terms hereof and the Purchase Agreement.

         The following terms and conditions shall apply to this Note:

         SECTION  1.       PAYMENTS OF PRINCIPAL AND INTEREST.

                  (a)      Interest Payments. The Company shall pay all accrued
but unpaid interest on the Principal Amount of this Note (the "QUARTERLY
AMOUNT"), on the first business day of each consecutive calendar quarter (each
an "INTEREST PAYMENT DATE") beginning on the three month anniversary of the date
hereof. The Quarterly Amount shall be paid in cash, although the Company shall
have the option to pay such interest in shares of Common Stock, to be exercised
as set forth in Section 1(d) below, provided that there is an Effective
Registration at the time such shares are delivered.

                  (b)      Payment of Principal. Subject to the provisions
hereof, including, without limitation, the right to obtain prepayment of the
Principal Amount provided herein, the Principal Amount of this Note shall be due
and payable on the Maturity Date. Notwithstanding anything to the contrary
contained herein, the Holder shall have the right, exercisable by written notice
to the Company delivered at any time during the period commencing ninety (90)
days prior to the second anniversary of the Issuance Date and ending on the date
immediately before the Maturity Date, to have all or a part of the Principal
Amount redeemed by the Company within ninety (90) days after receipt of written
notice from the Holder. Payment of the Principal Amount shall be effected in
cash.

                  (c)      Taxes. Company may withhold and pay over to the
relevant authorities any appropriate tax or other legally required withholdings
from any interest payment to be made to the Holder to the extent that such
withholding is required by the Internal Revenue Code or any other applicable
law, rule, or regulation.

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                  (d)      Payment of Interest in Shares of Common Stock. The
Company's option to pay interest in shares of Common Stock as set forth above
must be exercised by delivery of an irrevocable written notice to Holder not
later than ten (10) Trading Days prior to the due date of such payment, which
notice may be transmitted by facsimile (with the original mailed on the same
date by certified or registered mail, postage prepaid and return receipt
requested). For purposes of calculating the number of shares to be delivered to
the Holder in making such payment, the shares shall be deemed to have a value of
90% of the Market Price on the date payment is due.

         SECTION 2.        SENIORITY. The obligations of the Company hereunder
shall rank senior to all other Debt of the Company, whether now or hereinafter
existing, except to the existing debt facility with Kookmin Bank and except as
otherwise provided in Section 3.13 of the Purchase Agreement.

         SECTION 3.        CONVERSION.

                  (a)      Conversion by Holder. Subject to the terms hereof and
restrictions and limitations contained herein, the Holder shall have the right,
at Holder's option, at any time and from time to time to convert, in part or in
whole, the outstanding Principal Amount under this Note by delivering to the
Company a fully executed notice of conversion in the form of conversion notice
attached hereto as Exhibit A (the "CONVERSION NOTICE"), which may be transmitted
by facsimile (with the original mailed on the same date by certified or
registered mail, postage prepaid and return receipt requested) on the date of
conversion (the "CONVERSION DATE"). Notwithstanding anything to the contrary
herein, this Note and the outstanding Principal Amount hereunder shall not be
convertible into Common Stock to the extent that such conversion would result in
the Holder hereof exceeding the limitations contained in, or otherwise violating
the provisions of Section 3(l) below.

                  (b)      [INTENTIONALLY OMITTED]

                  (c)      [INTENTIONALLY OMITTED]

                  (d)      Conversion Date Procedures. Upon conversion of this
Note pursuant to this Section 3, the outstanding Principal Amount hereunder
shall be converted into such number of fully paid, validly issued and
non-assessable shares of Common Stock, free of any liens, claims and
encumbrances, as is determined by dividing the outstanding Principal Amount
being converted by the then applicable Conversion Price. If a conversion under
this Note cannot be effected in full for any reason, the Company shall, upon
request by the Holder, promptly pay to the Holder in cash (but no later than
five Trading Days after the Conversion Date) an amount equal to the greater of
(i) such outstanding Principal Amount as has not been converted and (ii) the
Market Price of the Underlying Shares of such outstanding unconverted Principal
Amount as of the Conversion Date that could have been sold by the Holder
pursuant to the Registration Statement on the Conversion Date.

                  (e)      Stock Certificates or DWAC. The Company will deliver
to the Holder not later than three (3) Trading Days after the Conversion Date, a
certificate or certificates which shall be free of restrictive legends and
trading restrictions(assuming that the Registration Statement has been declared
effective), representing the number of shares of Common Stock being acquired
upon the conversion of this Note. In lieu of delivering physical certificates

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representing the shares of Common Stock issuable upon conversion of this Note,
provided the Company's transfer agent is participating in the Depository Trust
Company ("DTC") Fast Automated Securities Transfer ("FAST") program, upon
request of the Holder, the Company shall use commercially reasonable efforts to
cause its transfer agent to electronically transmit such shares issuable upon
conversion to the Holder (or its designee), by crediting the account of the
Holder's (or such designee's) prime broker with DTC through its Deposit
Withdrawal Agent Commission system (provided that the same time periods herein
as for stock certificates shall apply).

                  (f)      Conversion Price Adjustments.

                           (i)      Stock Dividends, Splits and Combinations. If
the Company or any of its subsidiaries, at any time while the Note is
outstanding (A) shall pay a stock dividend or otherwise make a distribution or
distributions on any equity securities (including instruments or securities
convertible into or exchangeable for such equity securities but excluding any
stockholder rights granted pursuant to a poison pill) in shares of Common Stock,
(B) subdivide outstanding Common Stock into a larger number of shares, (C)
combine outstanding Common Stock into a smaller number of shares, or (D) issues
new securities by reclassification of the shares of Common Stock of the Company,
then, and in each such case, the Conversion Price (as defined below) in effect
immediately prior to such event or the record date therefor, whichever is
earlier, shall be adjusted so that the Holder shall be entitled to receive the
number of shares of Common Stock or other securities of the Company which such
Holder would have owned or have been entitled to receive after the occurrence of
any of the events described above, had such Note been surrendered for conversion
immediately prior to the occurrence of such event or record date therefore,
whichever is earlier. Any adjustment made pursuant to this Section 3(f) shall
become effective (x) in the case of any such dividend or distribution,
immediately after the close of business on the record date for the determination
of holders of shares of Common Stock entitled to receive such dividend or
distribution, or (y) in the case of such subdivision, reclassification or
combination, at the close of business on the day upon which such corporate
action becomes effective.

                           (ii)     Distributions. If the Company or any of its
subsidiaries, at any time while the Note is outstanding, shall distribute to all
holders of Common Stock evidences of its indebtedness or assets or cash or
rights or warrants to subscribe for or purchase any security of the Company or
any of its subsidiaries (excluding those referred to in Section 3(f)(i) above),
then concurrently with such distributions to holders of Common Stock, the
Company shall distribute to the Holder of the Note the amount of such
indebtedness, assets, cash or rights or warrants which the Holder of the Note
would have received had the Note been converted into Common Stock at the then
applicable the Conversion Price immediately prior to the record date for such
distribution.

                           (iii)    Common Stock Issuances. In the event that
the Company or any of its Subsidiaries on or subsequent to the Closing Date
issues or sells any Common Stock or any Convertible Securities (other than (i)
as required under the Purchase Agreement or pursuant to exercise of Convertible
Securities, (ii) shares of Common Stock or options to purchase such shares
issued to employees, consultants, officers or directors in accordance with stock
plans approved by the Board of Directors, and shares of Common Stock issuable
under options or warrants that are outstanding as of the date of the Purchase
Agreement, (iii) shares of Common Stock issued pursuant to a stock dividend,
split or other similar transaction, (iv) shares of

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Common Stock issued to Growell Metal Co., Ltd. pursuant to the Settlement
Agreement, dated on or about January 10, 2004, between Growell Metal Co., Ltd.
and the Company's South Korean subsidiary, and (v) shares of Common Stock that
are issued in lieu of cash in the payment of interest under these Notes) at an
effective Per Share Selling Price which is less than the Conversion Price in
effect immediately prior to such issue or sale or record date, as applicable,
then the Conversion Price shall be reduced effective concurrently with such
issuance or sale to an amount determined by multiplying the Conversion Price
then in effect by a fraction, (x) the numerator of which shall be the sum of (1)
the number of shares of Common Stock outstanding immediately prior to such
issuance or sale, plus (2) the number of shares of Common Stock which the
aggregate consideration received by the Company for such additional shares would
purchase at such Conversion Price, and (y) the denominator of which shall be the
number of shares of Common Stock of the Company outstanding immediately after
such issuance or sale. For the purposes of the foregoing adjustment, in the case
of any Convertible Securities, the maximum number of shares of Common Stock
issuable upon exercise, exchange or conversion of such Convertible Securities
shall be deemed to be outstanding, provided that no further adjustment shall be
made upon the actual issuance of Common Stock upon exercise, exchange or
conversion of such Convertible Securities.

                           (iv)     Rounding of Adjustments. All calculations
under this Section 3 shall be made to the nearest cent or the nearest 1/100th of
a share, as the case may be.

                           (v)      Notice of Adjustments. Whenever the
Conversion Price is adjusted pursuant to this Section 3(f), the Company shall
promptly deliver to each holder of the Note, a notice setting forth the
Conversion Price after such adjustment and setting forth a brief statement of
the facts requiring such adjustment, provided that any failure to so provide
such notice shall not affect the automatic adjustment hereunder.

                           (vi)     Fundamental Changes. In case any transaction
or event (including, without limitation, any merger, consolidation, combination,
recapitalization, sale of assets, tender or exchange offer, reclassification,
compulsory share exchange or liquidation) shall occur in which all or
substantially all outstanding shares of Common Stock are converted into or
exchanged or acquired for or constitute the right to receive stock, or other
securities, cash, property or assets (each, "Fundamental Change"), the Holder of
this Note outstanding immediately prior to the occurrence of such Fundamental
Change shall have the right upon any subsequent conversion to receive the kind
and amount of stock, other securities, cash, property or assets that such holder
would have received if such share had been converted immediately prior to such
Fundamental Change.

                           (vii)    Notice of Certain Events. If:

                                    A.     the Company shall declare a dividend
                                           (or any other distribution) on its
                                           Common Stock; or

                                    B.     the Company shall declare a special
                                           nonrecurring cash dividend on or a
                                           redemption of its Common Stock; or

                                    C.     the Company shall authorize the
                                           granting to all holders of the Common
                                           Stock rights or warrants to subscribe
                                           for or purchase

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                                           any shares of capital stock of any
                                           class or of any rights; or

                                    D.     the approval of any stockholders of
                                           the Company shall be required in
                                           connection with any reclassification
                                           of the Common Stock of the Company,
                                           any consolidation or merger to which
                                           the Company is a party, any sale or
                                           transfer of all or substantially all
                                           of the assets of the Company, of any
                                           compulsory share of exchange whereby
                                           the Common Stock is converted into
                                           other securities, cash or property;
                                           or

                                    E.     the Company shall authorize the
                                           voluntary or involuntary dissolution,
                                           liquidation or winding up of the
                                           affairs of the Company;

then the Company shall cause to be filed at each office or agency maintained for
the purpose of conversion of this Note, and shall cause to be mailed to the
Holder at its last address as it shall appear upon the books of the Company, on
or prior to the date notice to the Company's stockholders generally is given, a
notice stating (x) the date on which a record is to be taken for the purpose of
such dividend, distribution, redemption, rights or warrants, or if a record is
not to be taken, the date as of which the holders of Common Stock of record to
be entitled to such dividend, distributions, redemption, rights or warrants are
to be determined or (y) the date on which such reclassification, consolidation,
merger, sale, transfer or share exchange is expected to become effective or
close, and the date as of which it is expected that holders of Common Stock of
record shall be entitled to exchange their shares of Common Stock for
securities, cash or other property deliverable upon such reclassification,
consolidation, merger, sale, transfer or share exchange.

                  (g)      Reservation and Issuance of Underlying Securities.
The Company covenants that it will at all times reserve and keep available out
of its authorized and unissued Common Stock solely for the purpose of issuance
upon conversion of this Note (including repayments in stock), free from
preemptive rights or any other actual contingent purchase rights of persons
other than the holders of the Note, not less than such number of shares of
Common Stock as shall (subject to any additional requirements of the Company as
to reservation of such shares set forth in the Purchase Agreement) be issuable
(taking into account the adjustments under this Section 3 but without regard to
any ownership limitations contained herein) upon the conversion of this Note
hereunder in Common Stock (including repayments in stock). The Company covenants
that all shares of Common Stock that shall be so issuable shall, upon issue, be
duly authorized, validly issued, fully paid, nonassessable and freely tradeable.

                  (h)      No Fractions. Upon a conversion hereunder the Company
shall not be required to issue stock certificates representing fractions of
shares of Common Stock, but may if otherwise permitted, make a cash payment in
respect of any final fraction of a share based on the closing price of a share
of Common Stock at such time. If the Company elects not, or is unable, to make
such cash payment, the Holder shall be entitled to receive, in lieu of the final
fraction of a share, one whole share of Common Stock.

                  (i)      Charges, Taxes and Expenses. Issuance of certificates
for shares of Common Stock upon the conversion of this Note (including repayment
in stock) shall be made without charge to the holder hereof for any issue or
transfer tax or other incidental expense in respect of the issuance of such
certificate, all of which taxes and expenses shall be paid by the Company,

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and such certificates shall be issued in the name of the Holder or in such name
or names as may be directed by the Holder; provided, however, that in the event
certificates for shares of Common Stock are to be issued in a name other than
the name of the Holder, this Note when surrendered for conversion shall be
accompanied by an assignment form; and provided further, that the Company shall
not be required to pay any tax or taxes which may be payable in respect of any
such transfer.

                  (j)      Cancellation. After all of the Principal Amount
(including accrued but unpaid interest and default payments at any time owed on
this Note) have been paid in full or converted into Common Stock, this Note
shall automatically be deemed canceled and the Holder shall promptly surrender
the Note to the Company at the Company's principal executive offices.

                  (k)      Notices Procedures. Any and all notices or other
communications or deliveries to be provided by the Holder hereunder, including,
without limitation, any Conversion Notice, shall be in writing and delivered
personally, by confirmed facsimile, or by a nationally recognized overnight
courier service to the Company at the facsimile telephone number or address of
the principal place of business of the Company as set forth in the Purchase
Agreement. Any and all notices or other communications or deliveries to be
provided by the Company hereunder shall be in writing and delivered personally,
by facsimile, or by a nationally recognized overnight courier service addressed
to the Holder at the facsimile telephone number or address of the Holder
appearing on the books of the Company, or if no such facsimile telephone number
or address appears, at the principal place of business of the Holder. Any notice
or other communication or deliveries hereunder shall be deemed delivered (i)
upon receipt, when delivered personally, (ii) when sent by facsimile, upon
receipt if received on a Business Day prior to 5:00 p.m. (Eastern Time), or on
the first Business Day following such receipt if received on a Business Day
after 5:00 p.m. (Eastern Time) or (iii) upon receipt, when deposited with a
nationally recognized overnight courier service.

                  (l)      Overall Limit on Common Stock Issuable.
Notwithstanding anything contained herein to the contrary, the number of shares
of Common Stock issuable by the Company and acquirable by the Holders of the
Note, together with the number of shares issuable pursuant to the Warrants, the
Michigan Notes, the warrants issued in connection with the Michigan Notes, and
the warrants granted to Middlebury Capital LLC as placement agent for the Notes,
shall not exceed 19.9% of the number of shares of Common Stock outstanding on
the Closing Date, subject to appropriate adjustment for stock splits, stock
dividends, or other similar recapitalizations affecting the Common Stock (the
"MAXIMUM COMMON STOCK ISSUANCE"), unless the issuance of shares hereunder in
excess of the Maximum Common Stock Issuance shall first be approved by the
Company's shareholders in accordance with applicable law and the By-laws and
Certificate of Incorporation of the Company (a "20% APPROVAL"). If at any point
in time and from time to time written notice from the Holders of the Note to the
Company (each a "TRIGGER DATE") the number of Common Shares issued pursuant to
conversion of the Note would exceed the Maximum Common Stock Issuance but for
this Section 3(l), then the Company shall, at the Company's election, either (A)
promptly call a stockholders meeting to obtain a stockholder vote on the
issuance of Common Shares hereunder in excess of the Maximum Common Stock
Issuance, or (B) purchase from the Holder the Principal Amount of the Note which
cannot be converted or exercised due to such Maximum Common Stock Issuance
limitation ("SHORTFALL") at a redemption price equal to the greater of (i) such
Principal Amount of such Shortfall and (ii) the Market Price as of the Trigger
Date of the Underlying Shares of such Shortfall that could have been sold by the
Holder pursuant to the Registration Statement, which

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redemption price shall be paid within three (3) Trading Days after a Trigger
Date if this clause (B) is elected (although for purposes of clarification, if
clause (A) is elected by the Company and the Company's stockholders do not
approve the proposal, the Company will not be required to comply with clause
(B)). The Company may make such election at any time within thirty (30) days
following the Trigger Date by giving written notice to the Holder of the Note,
in which case the Company shall purchase the Shortfall at the price stated above
within three (3) Trading Days of delivery of said notice.

                  (m)      Mandatory Conversion.

                           (i)      If at any time after the Issuance Date, the
closing per share price of the Common Stock exceeds $8.00 (as such price may be
proportionally adjusted for stock splits, reverse splits, stock dividends and
recapitalizations) for 30 consecutive Trading Days (the "PRICING EVENT"), and
further provided that there has been Effective Registration for at least such 30
Trading Day period and including the Mandatory Conversion Date (as defined
below) the Company shall have the option, exercisable by delivering an
irrevocable notice to the Holder (the "MANDATORY CONVERSION NOTICE") to provide
that the Note shall be converted at the Conversion Price on a date (the
"MANDATORY CONVERSION DATE") at least 30 but no more than 60 days from the date
of the Mandatory Conversion Notice. The foregoing shall not affect the right of
the Holder to convert this Note pursuant to Section 3(a) above at all times up
to and including the Mandatory Conversion Date.

                           (ii)     Notwithstanding the preceding subsection
(m)(i), the Holder of the Note shall not be obligated to convert this Note on a
Mandatory Conversion Date unless and until each of the following conditions has
been satisfied at all times from the date of the Mandatory Conversion Notice up
to and including the Mandatory Conversion Date:

                                    (A)      There is Effective Registration;

                                    (B)      No Event of Default has occurred
                                             and is continuing; and

                                    (C)      The Holder has received unlegended
                                             certificates representing Common
                                             Shares (as defined in the Purchase
                                             Agreement) with respect to all
                                             conversions for which Conversion
                                             Notices have been given.

                           (iii)    In the event that the number of shares of
Common Stock that would be issued to the Holder would result in the Holder
exceeding the limitation set fort in Section 3(l) above, then the Company shall
issue to the Holder upon conversion of the Holder's Note, only the number of
shares as would not cause the Holder to exceed such amount and with respect to
the balance of the Note, an amount in cash equal to the greater of (i) the
Principal Amount of such balance of the Note and (ii) the Market Price of the
Underlying Shares of such balance of the Note as of the date of the Mandatory
Conversion Date.

                           (iv)     Such forced conversion shall be subject to
and governed by all the provisions relating to voluntary conversion of the Note
contained herein.

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         SECTION 4.        DEFAULTS AND REMEDIES.

                  (a)      Events of Default. An "EVENT OF DEFAULT" is: (i) a
default in payment of the Principal Amount, when due, or failure to pay any
accrued but unpaid interest thereon of the Note within five (5) days the date
such interest payment is due (to the extent such principal and/or amount has not
been converted into Common Stock in accordance with the terms hereof); (ii) a
default in the timely issuance of Underlying Shares upon and in accordance with
the terms hereof (where for purposes of this Note, the term "timely" shall mean
within ten (10) days following the Conversion Date); (iii) failure by the
Company for thirty (30) days after written notice has been received by the
Company to comply with any other material provision of the Note, the Purchase
Agreement the Security Agreement or the Registration Rights Agreement, (iv) a
material breach by the Company of its representations or warranties in the
Purchase Agreement or the Registration Rights Agreement that remains uncured for
thirty (30) business days after notice to the Company; (vi) any event or
condition shall occur which (x) results in the acceleration of the maturity of
any material long-term debt (other than the Note) of the Company or any of its
Subsidiaries, or (y) enables (or, with the giving of notice or lapse of time or
both, would enable) the holder of such material long-term debt or any or person
acting on behalf of such holder's behalf to accelerate the maturity thereof, or
(vii) if the Company or any of its Subsidiaries is subject to any Bankruptcy
Event (as defined in the Purchase Agreement).

                  (b)      Remedies. If an Event of Default occurs and is
continuing with respect to the Note, the Holder may declare all of the then
outstanding Principal Amount of this Note, including any interest due thereon,
to be due and payable immediately. The Company shall pay interest on such amount
in cash at the Default Rate to the Holder if such amount is not paid within two
(2) days of Holder's request. The remedies under this Note shall be cumulative.

         SECTION 5.        GENERAL.

                  (a)      Payment of Expenses. The Company agrees to pay all
reasonable charges and expenses, including attorneys' fees and expenses, which
may be incurred by the Holder in successfully enforcing this Note and/or
collecting any amount due under this Note.

                  (b)      Savings Clause. In case any provision of this Note is
held by a court of competent jurisdiction to be excessive in scope or otherwise
invalid or unenforceable, such provision shall be adjusted rather than voided,
if possible, so that it is enforceable to the maximum extent possible, and the
validity and enforceability of the remaining provisions of this Note will not in
any way be affected or impaired thereby. In no event shall the amount of
interest paid hereunder exceed the maximum rate of interest on the unpaid
principal balance hereof allowable by applicable law. If any sum is collected in
excess of the applicable maximum rate, the excess collected shall be applied to
reduce the principal debt. If the interest actually collected hereunder is still
in excess of the applicable maximum rate, the interest rate shall be reduced so
as not to exceed the maximum allowable under law.

                  (c)      Amendment. Neither this Note nor any term hereof may
be amended, waived, discharged or terminated other than by a written instrument
signed by the Company and the Holder.

                  (d)      Assignment, Etc. The Holder may assign or transfer
this Note to any transferee. The Holder shall notify the Company of any such
assignment or transfer promptly.

                                       10
<PAGE>

This Note shall be binding upon the Company and its successors and shall inure
to the benefit of the Holder and its successors and permitted assigns.

                  (e)      No Waiver. No failure on the part of the Holder to
exercise, and no delay in exercising any right, remedy or power hereunder shall
operate as a waiver thereof, nor shall any single or partial exercise by the
Holder of any right, remedy or power hereunder preclude any other or future
exercise of any other right, remedy or power. Each and every right, remedy or
power hereby granted to the Holder or allowed it by law or other agreement shall
be cumulative and not exclusive of any other, and may be exercised by the Holder
from time to time.

                  (f)      Governing Law; Jurisdiction.

                           (i)      Governing Law. THIS NOTE WILL BE GOVERNED BY
AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF CALIFORNIA WITHOUT
REGARD TO ANY CONFLICTS OF LAWS PROVISIONS THEREOF THAT WOULD OTHERWISE REQUIRE
THE APPLICATION OF THE LAW OF ANY OTHER JURISDICTION.

                           (ii)     Jurisdiction. The Company irrevocably
submits to the jurisdiction of any State or Federal Court sitting in the State
of New York, County of New York, over any suit, action, or proceeding arising
out of or relating to this Note. The Company irrevocably waives, to the fullest
extent permitted by law, any objection which it may now or hereafter have to the
laying of the venue of any such suit, action, or proceeding brought in such a
court and any claim that suit, action, or proceeding has been brought in an
inconvenient forum.

                                    The Company agrees that the service of
process upon it mailed by certified or registered mail, postage prepaid and
return receipt requested (and service so made shall be deemed complete three
days after the same has been posted as aforesaid) or by personal service shall
be deemed in every respect effective service of process upon it in any such suit
or proceeding. Nothing herein shall affect Holder's right to serve process in
any other manner permitted by law. The Company agrees that a final
non-appealable judgment in any such suit or proceeding shall be conclusive and
may be enforced in other jurisdictions by suit on such judgment or in any other
lawful manner.

                           (iii)    NO JURY TRIAL. THE COMPANY HEREBY KNOWINGLY
AND VOLUNTARILY WAIVES ANY AND ALL RIGHTS IT MAY HAVE TO A TRIAL BY JURY WITH
RESPECT TO ANY LITIGATION BASED ON, OR ARISING OUT OF, UNDER, OR IN CONNECTION
WITH, THIS NOTE.

                  (g)      Replacement Notes. This Note may be exchanged by
Holder at any time and from time to time for a Note or Notes with different
denominations representing an equal aggregate outstanding Principal Amount, as
reasonably requested by Holder, upon surrendering the same. No service charge
will be made for such registration or exchange. In the event that Holder
notifies the Company that this Note has been lost, stolen or destroyed, a
replacement Note identical in all respects to the original Note (except for
registration number and Principal Amount, if different than that shown on the
original Note), shall be issued to the Holder, provided that the Holder executes
and delivers to the Company an agreement reasonably satisfactory to the Company
to indemnify the Company from any loss incurred by it in connection with the
Note.

                                       11
<PAGE>

                  IN WITNESS WHEREOF, the Company has caused this Note to be
duly executed on March 1, 2004.

                            LIQUIDMETAL TECHNOLOGIES, INC.

                            By: _____________________________________
                                John Kang, President and Chief Executive Officer

Attest:

Sign: __________________
      Print Name:

                                       12
<PAGE>

                                    EXHIBIT A
                            FORM OF CONVERSION NOTICE

(To be Executed by the Holder
in order to Convert a Note)
The undersigned hereby elects to convert the aggregate outstanding Principal
Amount (as defined in the Note) indicated below of this Note into shares of
Common Stock, $0.001 par value per share (the "Common Stock"), of LIQUIDMETAL
TECHNOLOGIES, Inc. (the "Company") according to the conditions hereof, as of the
date written below. If shares are to be issued in the name of a person other
than the undersigned, the undersigned will pay all transfer taxes payable with
respect thereto and is delivering herewith such certificates and opinions as
reasonably requested by the Company in accordance therewith. No fee will be
charged to the holder for any conversion, except for such transfer taxes, if
any.

Conversion information:       __________________________________________________
                              Date to Effect Conversion

                              __________________________________________________
                              Aggregate Principal Amount of Note Being Converted

                              __________________________________________________
                              Number of shares of Common Stock to be Issued

                              __________________________________________________
                              Applicable Conversion Price

                              __________________________________________________
                              Signature

                              __________________________________________________
                              Name

                              __________________________________________________
                              Address<PAGE>

                                                                   EXHIBIT 10.8

                          REGISTRATION RIGHTS AGREEMENT

         This Registration Rights Agreement ("AGREEMENT") is entered into as of
March 1, 2004, between Liquidmetal Technologies, Inc., a Delaware corporation
with offices at 25800 Commercentre Dr., Suite 100, Lake Forest, California 92630
(the "COMPANY") and each of the parties listed under "Purchasers" hereto
(collectively and individually, the "PURCHASER").

                              W I T N E S S E T H:

         WHEREAS, pursuant to that certain Securities Purchase Agreement, dated
on or about the date hereof, by and between the Company and the Purchaser (the
"PURCHASE AGREEMENT"), the Company has agreed to sell and issue to the
Purchaser, and the Purchaser has agreed to purchase from the Company, a 6%
Senior Convertible Note in the principal amount of up to six million five
hundred thousand United States dollars ("Dollars") ($6,500,000) (the "NOTE") and
Warrants (the "WARRANTS") to purchase shares of the Company's Common Stock, par
value $0.001 per share, subject to the terms and conditions set forth therein;
and

         WHEREAS, the Purchase Agreement contemplates that the Note will be
convertible and exercisable into shares (the "COMMON SHARES") of the Company's
Common Stock, par value $0.001 per share (the "COMMON STOCK") pursuant to the
terms and conditions set forth in the Note, and the Warrant contemplates that
the Warrant will be exercisable into shares of the Company's Common Stock
pursuant to the terms and conditions set forth in the Warrant (the "WARRANT
SHARES").

         NOW, THEREFORE, in consideration of the mutual promises,
representations, warranties, covenants and conditions set forth in the Purchase
Agreement and this Agreement, the Company and the Purchaser agree as follows:

                  1.       Certain Definitions. Capitalized terms used herein
and not otherwise defined shall have the meaning ascribed thereto in the
Purchase Agreement or the Note. As used in this Agreement, the following terms
shall have the following respective meanings:

         "CLOSING" and "CLOSING DATE" shall have the meanings ascribed to such
terms in the Purchase Agreement.

         "COMMISSION" or "SEC" shall mean the Securities and Exchange Commission
or any other federal agency at the time administering the Securities Act.

         "HOLDER" and "HOLDERS" shall include the Purchaser and any permitted
transferee or transferees of Registrable Securities (as defined below), the Note
and/or Warrant which have not been sold to the public to whom the registration
rights conferred by this Agreement have been transferred in compliance with this
Agreement and the Purchase Agreement; provided that neither such person nor any
affiliate of such person is registered as a broker or dealer under Section 15(a)
of the Securities Exchange Act of 1934, as amended, or a member of the National
Association of Securities Dealers, Inc.

         The terms "REGISTER," "REGISTERED" and "REGISTRATION" shall refer to a
registration

<PAGE>

effected by preparing and filing a registration statement in compliance with the
Securities Act and applicable rules and regulations thereunder, and the
declaration or ordering of the effectiveness of such registration statement.

         "REGISTRABLE SECURITIES" shall mean: (i) the Common Shares and Warrant
Shares (without regard to any limitations on beneficial ownership contained in
the Note, the Warrant, or the Purchase Agreement) or other securities issued or
issuable to each Holder or its permitted transferee or designee (a) upon
conversion of the Note and exercise of the Warrant, or (b) upon any distribution
with respect to, any exchange for or any replacement of such Note or Warrant,
(c) upon any conversion, exercise or exchange of any securities issued in
connection with any such distribution, exchange or replacement, or (d) as
payment of principal amount or interest in lieu of cash with respect to the
Note; (ii) securities issued or issuable upon any stock split, stock dividend,
recapitalization or similar event with respect to the foregoing; and (iii) any
other security issued as a dividend or other distribution with respect to, in
exchange for or in replacement of the securities referred to in the preceding
clauses; provided that all such shares shall cease to be Registrable Securities
at such time as they have been sold under a Registration Statement or pursuant
to Rule 144 under the Securities Act or otherwise or at such time as they are
eligible to be sold pursuant to Rule 144(k). For purposes of this Agreement, the
term "WARRANT SHARES" shall include any shares of the Company's Common Stock
that are issued pursuant to that certain Placement Agent Common Stock Purchase
Warrant of even date herewith between the Company and Middlebury Capital LLC.

         "REGISTRATION EXPENSES" shall mean all expenses to be incurred by the
Company in connection with each Holder's registration rights under this
Agreement, including, without limitation, all registration and filing fees,
printing expenses, fees and disbursements of counsel for the Company, blue sky
fees and expenses, and the expense of any special audits incident to or required
by any such registration (but excluding the compensation of regular employees of
the Company, which shall be paid in any event by the Company).

         "REGISTRATION STATEMENT" shall have the meaning set forth in Section
2(a) herein.

         "REGULATION D" shall mean Regulation D as promulgated pursuant to the
Securities Act, and as subsequently amended.

         "SECURITIES ACT" or "ACT" shall mean the Securities Act of 1933, as
amended.

         "SELLING EXPENSES" shall mean all underwriting discounts and selling
commissions applicable to the sale of Registrable Securities and all fees and
disbursements of counsel for Holders not included within "Registration
Expenses".

                  2.       Registration Requirements. The Company shall use its
best efforts to effect the registration of the Registrable Securities
(including, without limitation, the execution of an undertaking to file
post-effective amendments, appropriate qualification under applicable blue sky
or other state securities laws and appropriate compliance with applicable
regulations issued under the Securities Act) as would permit or facilitate the
sale or distribution of all the Registrable Securities in the manner (including
manner of sale) and in all states reasonably

                                       2
<PAGE>

requested by the Holder. Such best efforts by the Company shall include, without
limitation, the following:

                           (a)      The Company shall, as expeditiously as
possible after the Closing Date:

                                    (i)      But in any event by the later (i)
                  of March 5, 2004, or (ii) twenty-five (25) days after the
                  Closing Date, prepare and file a registration statement with
                  the Commission pursuant to Rule 415 under the Securities Act
                  on Form S-3 under the Securities Act (or in the event that the
                  Company is ineligible to use such form, such other form as the
                  Company is eligible to use under the Securities Act provided
                  that such other form shall be converted into an S-3 as soon as
                  Form S-3 becomes available to the Company) covering resales by
                  the Holders as selling stockholders (not underwriters) of the
                  Registrable Securities ("REGISTRATION STATEMENT"), which
                  Registration Statement, to the extent allowable under the
                  Securities Act and the rules promulgated thereunder (including
                  Rule 416), shall state that such Registration Statement also
                  covers such indeterminate number of additional shares of
                  Common Stock as may become issuable upon conversion of the
                  Note. The number of shares of Common Stock initially included
                  in such Registration Statement shall be no less than the sum
                  of 1.5 times the sum of the number of Common Shares that are
                  issuable upon conversion of the Note as of the date of this
                  Agreement, at the then applicable Conversion Price (as defined
                  in the Note). Thereafter the Company shall use its best
                  efforts to cause such Registration Statement and other filings
                  to be declared effective as soon as possible, and in any event
                  no later than the following date, as appropriate (the
                  "REQUIRED EFFECTIVE DATE"): (A), if the SEC notifies that the
                  Company that the SEC will not review the Registration
                  Statement, the Required Effective Date shall be five (5) days
                  after the SEC provides such notification, or (B) if the SEC
                  notifies the Company that it will review the Registration
                  Statement, then the Required Effective Date shall be sixty
                  (60) days after the Company receives the first written
                  comments on the Registration Statement from the SEC. Without
                  limiting the foregoing, the Company will promptly respond to
                  all SEC comments, inquiries and requests, and shall request
                  acceleration of effectiveness at the earliest possible date.

                                    (ii)     Prepare and file with the SEC such
                  amendments and supplements to such Registration Statement and
                  the prospectus used in connection with such Registration
                  Statement as may be necessary to comply with the provisions of
                  the Act with respect to the disposition of all securities
                  covered by such Registration Statement and notify the Holders
                  of the filing and effectiveness of such Registration Statement
                  and any amendments or supplements.

                                    (iii)    Furnish to each Holder that has
                  Common Shares included in the Registration Statement such
                  numbers of copies of a current prospectus conforming with the
                  requirements of the Act, copies of the Registration Statement,
                  any amendment or supplement thereto and any documents
                  incorporated by reference therein and such other documents as
                  such Holder may

                                       3
<PAGE>

                  reasonably require in order to facilitate the disposition of
                  Registrable Securities owned by such Holder.

                                    (iv)     Register and qualify the securities
                  covered by such Registration Statement under the securities or
                  "Blue Sky" laws of all domestic jurisdictions; provided that
                  the Company shall not be required in connection therewith or
                  as a condition thereto to qualify to do business or to file a
                  general consent to service of process in any such states or
                  jurisdictions.

                                    (v)      Notify promptly each Holder that
                  has Common Shares included in the Registration Statement of
                  the happening of any event (but not the substance or details
                  of any such event) of which the Company has knowledge as a
                  result of which the prospectus (including any supplements
                  thereto or thereof) included in such Registration Statement,
                  as then in effect, includes an untrue statement of material
                  fact or omits to state a material fact required to be stated
                  therein or necessary to make the statements therein not
                  misleading in light of the circumstances then existing (each
                  an "EVENT"), and use its best efforts to promptly update
                  and/or correct such prospectus. Each Holder will hold in
                  confidence and will not make any disclosure of any such Event
                  and any related information disclosed by the Company.

                                    (vi)     Notify each Holder of the issuance
                  by the Commission or any state securities commission or agency
                  of any stop order suspending the effectiveness of the
                  Registration Statement or the threat or initiation of any
                  proceedings for that purpose. The Company shall use its best
                  efforts to prevent the issuance of any stop order and, if any
                  stop order is issued, to obtain the lifting thereof at the
                  earliest possible time.

                                    (vii)    [Intentionally omitted.]

                                    (viii)   List the Registrable Securities
                  covered by such Registration Statement with all securities
                  exchange(s) and/or markets on which the Common Stock is then
                  listed and prepare and file any required filings with the
                  Nasdaq National Market System or any other exchange or market
                  where the Common Shares are traded.

                                    (ix)     Take all steps reasonably necessary
                  to enable Holders to avail themselves of the prospectus
                  delivery mechanism set forth in Rule 153 (or successor
                  thereto) under the Act.

                           (b)      Notwithstanding the obligations under
Section 2(a)(v) or any provision of this Agreement, if (i) in the good faith
judgment of the Company, following consultation with legal counsel, it would be
detrimental to the Company and its stockholders for resales of Registrable
Securities to be made pursuant to the Registration Statement due to the
existence of a material development or potential material development involving
the Company that the Company would be obligated to disclose in the Registration
Statement, which disclosure would be premature or otherwise inadvisable at such
time or would have a material adverse

                                       4
<PAGE>

effect upon the Company and its stockholders, or (ii) in the good faith judgment
of the Company, it would adversely affect or require premature disclosure of the
filing of a Company-initiated registration of any class of its equity
securities, then the Company will have the right to suspend the use of the
Registration Statement for a period of not more than 30 consecutive calendar
days, but only if the Company reasonably concludes, after consultation with
outside legal counsel, that the failure to suspend the use of the Registration
Statement as such would create a risk of a material liability or violation under
applicable securities laws or regulations.

                           (c)      Set forth below in this Section 2(c) are (I)
events that may arise that the Purchaser considers will interfere with the full
enjoyment of their rights under this Agreement, the Purchase Agreement, and the
Notes (the "INTERFERING EVENTS"), and (II) certain remedies applicable in each
of these events.

                                    (i)      Payments by the Company. If (i) at
                  any time after effectiveness of the Registration Statement,
                  sales thereunder during the registration period (as described
                  in Section 5) cannot be made for any reason, other than by
                  reason of the operation of Section 2(b), for a period of more
                  than 10 consecutive business days, (ii) at any time after
                  effectiveness of the Registration Statement, sales thereunder
                  during the Registration Period cannot be made for a period of
                  time that exceeds the limitations set forth in Section 2(b),
                  or (iii) at any time after the Registrable Securities are
                  listed in accordance with Section 2(a)(viii), the Common
                  Shares are not listed or included for quotation on the Nasdaq
                  National Market or other exchange or market where shares of
                  the Company's common stock are then traded for more than 10
                  consecutive calendar days, then the Company will thereafter
                  make a payment to each Holder as set forth below. The amount
                  of the payment made to each Holder will be equal to 1% of the
                  purchase price paid for the Notes purchased by the Holder and
                  not previously converted into Common Shares and sold by the
                  Holder for each 30 business days that sales cannot be made
                  under the effective Registration Statement or the Common
                  Shares are not listed or included for quotation on the Nasdaq
                  National Market or other exchange or market where shares of
                  the Company's common stock are then traded (but any day on
                  which both conditions exist shall count as a single day and no
                  day taken into account for purposes of determining whether any
                  payment is due under Section 2 (c)(ii) shall be taken into
                  account for purposes of determining whether any payment is due
                  under this Section 2(c)(i) or the amount of such payment). The
                  number of shares not previously sold as specified in the
                  previous sentence shall be determined as of the end of the
                  respective 30-business day period. In no event shall payment
                  pursuant to this Section exceed 10% in the aggregate of the
                  purchase price paid for the Notes purchased by the Holder
                  (including such Holder's predecessors and successors) for the
                  entire registration period (as described in Section 5). These
                  payments will be prorated on a daily basis during the
                  30-business day period and will be paid to each Holder within
                  ten business days following the end of each 30- business day
                  period as to which payment is due hereunder or, at the
                  Company's option, will be added to the outstanding Principal
                  Amount of the Notes, provided that the respective Holder
                  delivered to the Company at least two business days prior
                  thereto information with respect to the number of Notes and
                  Common

                                       5
<PAGE>

                  Shares not previously sold by such Holder (together with
                  reasonable supporting documentation). The Holders may make a
                  claim for additional damages as a remedy for the Company's
                  failure to comply with the timelines set forth in this
                  Section, but acknowledgement of such right in this Agreement
                  shall not constitute an admission by the Company that any such
                  damages exist or may exist. Notwithstanding the foregoing, if
                  the Company has used its best efforts to avoid circumstances
                  as a result of which sales cannot be made under the
                  Registration Statement during the Registration Period or the
                  Common Shares are not listed or included for quotation on the
                  Nasdaq National Market or other exchange or market where the
                  Common Shares are traded, then the damages described above
                  shall be the Holders' sole and exclusive remedy for damages
                  arising out of such circumstances. Nothing contained in the
                  preceding sentence shall be read to limit the ability of the
                  Holders to seek specific performance of this Agreement.

                                    (ii)     Effect of Late Registration. If the
                  Registration Statement has not been declared effective by the
                  Required Effective Date other than by reason of the operation
                  of Section 2(b), then the Company will make a payment to each
                  Holder for such delay (each a "LATE REGISTRATION PAYMENT").
                  Each Late Registration Payment will be equal to 2% of the
                  purchase price paid for the Notes purchased by such Holder and
                  not previously sold (or converted into Common Shares and sold)
                  by such Holder for the first 30 business days after the
                  Required Effective Date, and 1% of such purchase price for
                  each period of 30 business days thereafter (but no day taken
                  into account for purposes of determining whether any payment
                  is due under Section 2(c)(i) shall be taken into account for
                  purposes of determining whether any payment is due under this
                  Section 2(c)(ii) or the amount of such payment). In no event
                  shall payment pursuant to this Section exceed 10% in the
                  aggregate of the purchase price paid for the Notes purchased
                  by the Holder (including such Holder's predecessors and
                  successors) for the entire registration period (as described
                  in Section 5). The Late Registration Payments will be prorated
                  on a daily basis during the 30-business day period and will be
                  paid to the initial Holders or, at the Company's option, will
                  be added to the outstanding Principal Amount of the Notes,
                  within ten business days following the end of each 30-business
                  day period as to which payment is due hereunder, provided that
                  the respective Holder delivered to the Company at least two
                  business days prior thereto information with respect to the
                  number of Notes and Common Shares not previously sold by such
                  Holder (together with reasonable supporting documentation).
                  The Holders may make a claim for additional damages as a
                  remedy for the Company's failure to comply with the timelines
                  set forth in this Section, but acknowledgement of such right
                  in this Agreement shall not constitute an admission by the
                  Company that any such damages exist or may exist.
                  Notwithstanding the foregoing, if the Company has used its
                  best efforts to avoid circumstances as a result of which the
                  Registration Statement has not been declared effective by the
                  Required Effective Date, then the damages described above
                  shall be the Holders' sole and exclusive remedy for damages
                  arising out of such circumstances. Nothing contained in the
                  preceding sentence shall be read to limit the ability of the
                  Holders to seek specific performance of this Agreement.
                  Notwithstanding the foregoing, if the Registration Statement
                  has not yet been

                                       6
<PAGE>

                  declared effective and the Holders are no longer entitled to
                  receive Late Registration Payments as a result of the
                  above-described percentage limitation on said payments, then
                  each Holder shall have the right, at any time upon at least
                  thirty (30) days written notice, to sell all (but not less
                  than all) of its Notes to the Company for a cash purchase
                  price equal to the outstanding Principal Amount of the Notes
                  plus any accrued but unpaid interest.

                           (d)      During the registration period, the Company
will make available, upon reasonable advance notice during normal business
hours, for inspection by any Holder whose Registrable Securities are being sold
pursuant to a Registration Statement, all pertinent financial and other records,
pertinent corporate documents and properties of the Company (collectively, the
"RECORDS") as reasonably necessary to enable each such Holder to exercise its
due diligence responsibility in connection with or related to the contemplated
offering. The Company will cause its officers, directors and employees to supply
all information that any Holder may reasonably request for purposes of
performing such due diligence.

                           (e)      Each Holder will hold in confidence, use
only in connection with the contemplated offering and not make any disclosure of
all Records and other information that the Company determines in good faith to
be confidential, and of which determination the Holders are so notified, unless
(i) the disclosure of such Records is necessary to avoid or correct a
misstatement or omission in any Registration Statement, (ii) the release of such
Records is ordered pursuant to a subpoena or other order from a court or
government body of competent jurisdiction, (iii) the information in such Records
has been made generally available to the public other than by disclosure in
violation of this or any other agreement (to the knowledge of the relevant
Holder), (iv) the Records or other information was developed independently by
the Holder without breach of this Agreement, (v) the information was known to
the Holder before receipt of such information from the Company, or (vi) the
information was disclosed to the Holder by a third party not under an obligation
of confidentiality. However, a Holder may make disclosure of such Records and
other information to any attorney, adviser, or other third party retained by it
that needs to know the information as determined in good faith by the Holder
(the "HOLDER REPRESENTATIVE"), if the Holder advises the Holder Representative
of the confidentiality provisions of this Section 2(e), but the Holder will be
liable for any act or omission of any of its Holder Representatives relative to
such information as if the act or omission was that of the Holder. The Company
is not required to disclose any confidential information in the Records to any
Holder unless and until such Holder has entered into a confidentiality agreement
(in form and substance satisfactory to the Company) with the Company with
respect thereto, substantially to the effect of this Section 2(e). Unless
legally prohibited from so doing, each Holder will, upon learning that
disclosure of Records containing confidential information is sought in or by a
court or governmental body of competent jurisdiction or through other means,
give prompt notice to the Company and allow the Company, at the Company's
expense, to undertake appropriate action to prevent disclosure of, or to obtain
a protective order for, the Records deemed confidential. Nothing herein will be
deemed to limit the Holder's ability to sell Registrable Securities in a manner
that is otherwise consistent with applicable laws and regulations.

                           (f)      The Company shall file a Registration
Statement with respect to any newly authorized and/or reserved Registrable
Securities consisting of Common Shares described in clause (i) of the definition
of Registrable Securities within ten (10) business days of

                                       7
<PAGE>

any stockholders' meeting authorizing same and shall use its best efforts to
cause such Registration Statement to become effective within ninety (90) days of
such stockholders' meeting. If the Holders become entitled, pursuant to an event
described in clause (ii) and (iii) of the definition of Registrable Securities,
to receive any securities in respect of Registrable Securities that were already
included in a Registration Statement, subsequent to the date such Registration
Statement is declared effective, and the Company is unable under the securities
laws to add such securities to the then effective Registration Statement, the
Company shall promptly file, in accordance with the procedures set forth herein,
an additional Registration Statement with respect to such newly Registrable
Securities. The Company shall use its best efforts to (i) cause any such
additional Registration Statement, when filed, to become effective within 30
days of that date that the need to file the Registration Statement arose. All of
the registration rights and remedies under this Agreement shall apply to the
registration of such newly reserved shares and such new Registrable Securities.

                  3.       Expenses of Registration. All Registration Expenses
in connection with any registration, qualification or compliance with
registration pursuant to this Agreement shall be borne by the Company, and all
Selling Expenses of a Holder shall be borne by such Holder.

                  4.       Registration on Form S-3. The Company shall use its
reasonable best efforts to continue to meet the "registrant eligibility"
requirements for a secondary offering set forth in the general instructions to
Form S-3 or any comparable or successor form or forms, or in the event that the
Company is ineligible to use such form, such form as the Company is eligible to
use under the Securities Act, provided that if such other form is used, the
Company shall convert such other form to a Form S-3 as soon as the Company
becomes so eligible.

                  5.       Registration Period. In the case of the registration
effected by the Company pursuant to this Agreement, the Company shall keep such
registration effective until the later of (a) the date on which all the Holders
have completed the sales or distribution described in the Registration Statement
relating thereto or, if earlier until such Registrable Securities may be sold by
the Holders under Rule 144(k) (provided that the Company's transfer agent has
accepted an instruction from the Company to such effect) or (b) the second (2nd)
anniversary of the Closing Date.

                  6.       Indemnification.

                           (a)      Company Indemnity. The Company will
indemnify each Holder, each of its officers, directors, agents and partners, and
each person controlling each of the foregoing, within the meaning of Section 15
of the Securities Act and the rules and regulations thereunder with respect to
which registration, qualification or compliance has been effected pursuant to
this Agreement, and each underwriter, if any, and each person who controls,
within the meaning of Section 15 of the Securities Act and the rules and
regulations thereunder, any underwriter, against all claims, losses, damages and
liabilities (or actions in respect thereof) arising out of or based on any
untrue statement (or alleged untrue statement) of a material fact contained in
any final prospectus (as amended or supplemented if the Company files any
amendment or supplement thereto with the SEC), Registration Statement filed
pursuant to this Agreement or any post-effective amendment thereof or based on
any omission (or alleged omission) to state therein a material fact required to
be stated therein or necessary to make the

                                       8
<PAGE>

statements therein not misleading in light of the circumstances under which they
were made, or any violation by the Company of the Securities Act or any state
securities law or in either case, any rule or regulation thereunder applicable
to the Company and relating to action or inaction required of the Company in
connection with any such registration, qualification or compliance, and will
reimburse each Holder, each of its officers, directors, agents and partners, and
each person controlling each of the foregoing, for any reasonable legal fees of
a single counsel and any other expenses reasonably incurred in connection with
investigating and defending any such claim, loss, damage, liability or action,
provided that the Company will not be liable in any such case to a Holder to the
extent that any such claim, loss, damage, liability or expense arises out of or
is based on (i) any untrue statement or omission based upon written information
furnished to the Company by such Holder or underwriter (if any) therefor and
stated to be specifically for use therein, (ii) any failure by any Holder to
comply with prospectus delivery requirements or the Securities Act or Exchange
Act or any other law or legal requirement applicable to them or any covenant or
agreement contained in the Purchase Agreement or this Agreement or (iii) an
offer of sale of Common Shares occurring during a period in which sales under
the Registration Statement are suspended as permitted by this Agreement. The
indemnity agreement contained in this Section 6(a) shall not apply to amounts
paid in settlement of any such loss, claim, damage, liability or action if such
settlement is effected without the consent of the Company (which consent will
not be unreasonably withheld).

                           (b)      Holder Indemnity. Each Holder will,
severally but not jointly, if Registrable Securities held by it are included in
the securities as to which such registration, qualification or compliance is
being effected, indemnify the Company, each of its directors, officers, agents
and partners, and any other stockholder selling securities pursuant to the
Registration Statement and any of its directors, officers, agents, partners, and
any person who controls such stockholder within the meaning of the Securities
Act or Exchange Act and each underwriter, if any, of the Company's securities
covered by such a Registration Statement, each person who controls the Company
or such underwriter within the meaning of Section 15 of the Securities Act and
the rules and regulations thereunder, each other Holder (if any), and each of
their officers, directors and partners, and each person controlling such other
Holder(s) against all claims, losses, damages and liabilities (or actions in
respect thereof) arising out of or based on (i) any untrue statement (or alleged
untrue statement) of a material fact contained in any such final prospectus (as
amended or supplemented if the Company files any amendment or supplement thereto
with the SEC), Registration Statement filed pursuant to this Agreement or any
post-effective amendment thereof or based on any omission (or alleged omission)
to state therein a material fact required to be stated therein or necessary to
make the statement therein not misleading in light of the circumstances under
which they were made or (ii) failure by any Holder to comply with prospectus
delivery requirements or the Securities Act, Exchange Act or any other law or
legal requirement applicable to them or any covenant or agreement contained in
the Purchase Agreement or this Agreement, and will reimburse the Company and
such other Holder(s) and their directors, officers and partners, underwriters or
control persons for any reasonable legal fees or any other expenses reasonably
incurred in connection with investigating and defending any such claim, loss,
damage, liability or action, in each case to the extent, but only to the extent,
that such untrue statement (or alleged untrue statement) or omission (or alleged
omission) is made in such final prospectus (as amended or supplemented if the
Company files any amendment or supplement thereto with the SEC), Registration
Statement filed pursuant to this Agreement or any post-effective amendment
thereof in reliance upon and in conformity

                                       9
<PAGE>

with written information furnished to the Company by such Holder and stated to
be specifically for use therein, and provided that the maximum amount for which
such Holder shall be liable under this indemnity shall not exceed the net
proceeds received by the Holders from the sale of the Registrable Securities
pursuant to the registration statement in question. The indemnity agreement
contained in this Section 6(b) shall not apply to amounts paid in settlement of
any such claims, losses, damages or liabilities if such settlement is effected
without the consent of such Holder (which consent shall not be unreasonably
withheld).

                           (c)      Procedure. Each party entitled to
indemnification under this Section 6 (the "INDEMNIFIED PARTY") shall give notice
to the party required to provide indemnification (the "INDEMNIFYING PARTY")
promptly after such Indemnified Party has actual knowledge of any claim as to
which indemnity may be sought, and shall permit the Indemnifying Party to assume
the defense of any such claim in any litigation resulting therefrom, provided
that counsel for the Indemnifying Party, who shall conduct the defense of such
claim or any litigation resulting therefrom, shall be approved by the
Indemnified Party (whose approval shall not be unreasonably withheld), and the
Indemnified Party may participate in such defense at its own expense, and
provided further that the failure of any Indemnified Party to give notice as
provided herein shall not relieve the Indemnifying Party of its obligations
under this Section 6 except to the extent that the Indemnifying Party is
materially and adversely affected by such failure to provide notice. No
Indemnifying Party, in the defense of any such claim or litigation, shall,
except with the consent of each Indemnified Party, consent to entry of any
judgment or enter into any settlement which does not include as an unconditional
term thereof the giving by the claimant or plaintiff to such Indemnified Party
of a release from all liability in respect to such claim or litigation. Each
Indemnified Party shall furnish such non-privileged information regarding itself
or the claim in question as an Indemnifying Party may reasonably request in
writing and as shall be reasonably required in connection with the defense of
such claim and litigation resulting therefrom.

                  7.       Contribution. If the indemnification provided for in
Section 6 herein is unavailable to the Indemnified Parties in respect of any
losses, claims, damages or liabilities referred to herein (other than by reason
of the exceptions provided therein), then each such Indemnifying Party, in lieu
of indemnifying such Indemnified Party, shall contribute to the amount paid or
payable by such Indemnified Party as a result of such losses, claims, damages or
liabilities as between the Company on the one hand and any Holder(s) on the
other, in such proportion as is appropriate to reflect the relative fault of the
Company and of such Holder(s) in connection with the statements or omissions
which resulted in such losses, claims, damages or liabilities, as well as any
other relevant equitable considerations. The relative fault of the Company on
the one hand and of any Holder(s) on the other shall be determined by reference
to, among other things, whether the untrue or alleged untrue statement of a
material fact or omission or alleged omission to state a material fact relates
to information supplied by the Company or by such Holder(s).

         In no event shall the obligation of any Indemnifying Party to
contribute under this Section 7 exceed the amount that such Indemnifying Party
would have been obligated to pay by way of indemnification if the
indemnification provided for under Section 6(a) or 6(b) hereof had been
available under the circumstances.

         The Company and the Holders agree that it would not be just and
equitable if

                                       10
<PAGE>

contribution pursuant to this Section 7 were determined by pro rata allocation
(even if the Holders were treated as one entity for such purpose) or by any
other method of allocation which does not take account of the equitable
considerations referred to in the immediately preceding paragraphs. The amount
paid or payable by an Indemnified Party as a result of the losses, claims,
damages and liabilities referred to in the immediately preceding paragraphs
shall be deemed to include, subject to the limitations set forth above, any
legal or other expenses reasonably incurred by such Indemnified Party in
connection with investigating or defending any such action or claim.
Notwithstanding the provisions of this Section, no Holder shall be required to
contribute any amount in excess of the amount by which in the case of any
Holder, the net proceeds received by such Holder from the sale of Registrable
Securities pursuant to the registration statement in question. No person guilty
of fraudulent misrepresentation (within the meaning of Section 11(f) of the
Securities Act) shall be entitled to contribution from any person who was not
guilty of such fraudulent misrepresentation.

                  8.       Survival. The indemnity and contribution agreements
contained in Sections 6 and 7 shall remain operative and in full force and
effect regardless of (i) any termination of this Agreement or the Purchase
Agreement, and (ii) the consummation of the sale or successive resales of the
Registrable Securities.

                  9.       Information by Holders. As a condition to the
obligations of the Company to complete any registration pursuant to this
Agreement with respect to the Registrable Securities of each Holder, such Holder
will furnish to the Company such information regarding itself, the Registrable
Securities held by it and the intended methods of disposition of the Registrable
Securities held by it as is reasonably required by the Company to effect the
registration of the Registrable Securities. At least five business days prior to
the first anticipated filing date of a Registration Statement for any
registration under this Agreement, the Company will notify each Holder of the
information the Company requires from that Holder whether or not such Holder has
elected to have any of its Registrable Securities included in the Registration
Statement. If the Company has not received the requested information from a
Holder by the business day prior to the anticipated filing date, then the
Company may file the Registration Statement without including Registrable
Securities of that Holder.

                  10.      Further Assurances. Each Holder will cooperate with
the Company, as reasonably requested by the Company, in connection with the
preparation and filing of any Registration Statement hereunder, unless such
Holder has notified the Company in writing of such Holder's irrevocable election
to exclude all of such Holder's Registrable Securities from such Registration
Statement.

                  11.      Suspension of Sales. Upon receipt of any notice from
the Company under Section 2(a)(v) or 2(b), each Holder will immediately
discontinue disposition of Registrable Securities pursuant to the Registration
Statement covering such Registrable Securities until (i) it receives copies of a
supplemented or amended prospectus contemplated by Sections 2(a)(v) or (ii) the
Company advises the Holder that a suspension of sales under Section 2(b) has
terminated. If so directed by the Company, each Holder will deliver to the
Company (at the expense of the Company) or destroy all copies in the Holder' s
possession (other than a limited number of file copies) of the prospectus
covering such Registrable Securities that is current at the time of receipt of
such notice.

                                       11
<PAGE>

                  12.      Replacement Certificates. The certificate(s)
representing the Registrable Securities held by the Purchaser (or then Holder)
may be exchanged by the Purchaser (or such Holder) at any time and from time to
time for certificates with different denominations representing an equal
aggregate number of Common Shares, as reasonably requested by such Purchaser (or
such Holder) upon surrendering the same. No service charge will be made for such
registration or transfer or exchange. Upon receipt by the Company of evidence
reasonably satisfactory to it of the loss, theft, destruction or mutilation of
the Note or certificates for the underlying Common Shares of any of the
foregoing, and, in the case of loss, theft or destruction, of indemnity
reasonably satisfactory to it, or upon surrender and cancellation of such
certificate if mutilated, the Company will make and deliver a new Note or
certificate of like tenor and dated as of such cancellation at no charge to the
holder.

                  13.      Transfer or Assignment. Except as otherwise provided
herein, this Agreement shall be binding upon and inure to the benefit of the
parties and their successors and permitted assigns. The rights granted to the
Purchaser by the Company under this Agreement to cause the Company to register
Registrable Securities may be transferred or assigned (in whole or in part) to a
transferee or assignee of the Note or Registrable Securities, and all other
rights granted to the Purchaser by the Company hereunder may be transferred or
assigned to any transferee or assignee of the Note or Registrable Securities;
provided in each case that (i) the Company is given written notice by the
Purchaser at the time of or within a reasonable time after such transfer or
assignment, stating the name and address of said transferee or assignee and
identifying the securities with respect to which such registration rights are
being transferred or assigned; and provided further that the transferee or
assignee of such rights agrees in writing to be bound by the registration
provisions of this Agreement, (ii) such transfer or assignment is not made under
the Registration Statement or Rule 144, (iii) such transfer is made according to
the applicable requirements of the Purchase Agreement, and (iv) the transferee
has provided to the Company an investor questionnaire (or equivalent document)
evidencing that the transferee is a "qualified institutional buyer" or an
"accredited investor" defined in Rule 501(a)(1),(2),(3), or (7) of Regulation D.

                  14.      Miscellaneous.

                           (a)      Remedies. The Company and the Purchaser
acknowledge and agree that irreparable damage would occur in the event that any
of the provisions of this Agreement were not performed in accordance with their
specific terms or were otherwise breached. It is accordingly agreed that the
parties shall be entitled to an injunction or injunctions to prevent or cure
breaches of the provisions of this Agreement and to enforce specifically the
terms and provisions hereof, this being in addition to any other remedy to which
any of them may be entitled by law or equity.

                           (b)      Jurisdiction. Each of the Company and the
Purchaser (i) hereby irrevocably submits to the exclusive jurisdiction of the
United States District Court, the New York state courts and other courts of the
United States sitting in New York, New York for the purposes of any suit, action
or proceeding arising out of or relating to this Agreement and (ii) hereby
waives, and agrees not to assert in any such suit action or proceeding, any
claim that it is not personally subject to the jurisdiction of such court, that
the suit, action or proceeding is brought in an inconvenient forum or that the
venue of the suit, action or proceeding is improper. The Company and the
Purchaser consent to process being served in any such suit, action or

                                       12
<PAGE>

proceeding by mailing a copy thereof to such party at the address in effect for
notices to it under this Agreement and agrees that such service shall constitute
good and sufficient service of process and notice thereof. Nothing in this
paragraph shall affect or limit any right to serve process in any other manner
permitted by law.

                           (c)      Notices. Any notice or other communication
required or permitted to be given hereunder shall be in writing by facsimile,
mail or personal delivery and shall be effective upon actual receipt of such
notice. The addresses for such communications shall be:

          to the Company:

          Liquidmetal Technologies, Inc.
          25800 Commercentre Dr., Suite 100
          Lake Forest, California 92630
          Telephone: (949) 206-8002
          Fax: (949) 206-8008
          Attention: John Kang, President

          with a copy to:

          Foley & Lardner LLP
          100 North Tampa Street, Suite 2700
          Tampa, FL 33602-5804
          Telephone: 813-229-2300
          Facsimile:
          Attention: Curt P. Creely

          If to the Purchasers, to the addresses set forth on Schedule I to the
Purchase Agreement:

          with a copy to:

                           Wollmuth Maher Deutsch LLP
                           500 Fifth Avenue, 12th Floor
                           New York, New York  10110
                           Telephone:  (212) 382-3300
                           Facsimile:   (212) 382-0050
                           Attention:  Rory M. Deutsch

Any party hereto may from time to time change its address for notices by giving
at least five days' written notice of such changed address to the other parties
hereto.

                           (d)      Waivers. No waiver by any party of any
default with respect to any provision, condition or requirement of this
Agreement shall be deemed to be a continuing waiver in the future or a waiver of
any other provision, condition or requirement hereof, nor shall any delay or
omission of any party to exercise any right hereunder in any manner impair the

                                       13
<PAGE>

exercise of any such right accruing to it thereafter. The representations and
warranties and the agreements and covenants of the Company and each Purchaser
contained herein shall survive the Closing.

                           (e)      Execution in Counterpart. This Agreement may
be executed in two or more counterparts, all of which shall be considered one
and the same agreement, it being understood that all parties need not sign the
same counterpart.

                           (f)      Signatures. Facsimile signatures shall be
valid and binding on each party submitting the same.

                           (g)      Entire Agreement; Amendment. This Agreement,
together with the Purchase Agreement, the Note, the Warrant, and the agreements
and documents contemplated hereby and thereby, contains the entire understanding
and agreement of the parties, and may not be amended, modified or terminated
except by a written agreement signed by the Company plus the Holders of 75% of
the outstanding Principal Amount of the Notes issued under the Purchase
Agreement to that date; provided that for the purposes of this Section 14(g) the
Holders of Registrable Securities still entitled to registration rights under
this Agreement will be deemed to still be Holders of that amount of Notes which
were converted into such number of Registrable Securities issued upon conversion
which are still held by them.

                           (h)      Governing Law. This Agreement and the
validity and performance of the terms hereof shall be governed by and construed
in accordance with the laws of the State of New York applicable to contracts
executed and to be performed entirely within such state, except to the extent
that the law of the State of Delaware regulates the Company's issuance of
securities.

                           (i)      Jury Trial. EACH PARTY HERETO WAIVES THE
RIGHT TO A TRIAL BY JURY.

                           (j)      Force Majeure. The Company shall not be
deemed in breach of its commitments under this Agreement and no payments by the
Company as set forth in Section 2 shall be required if the Company is unable to
fulfill it obligations hereunder in a timely fashion if the SEC or the Nasdaq
National Market are closed or operating on a limited basis as a result of the
occurrence of a Force Majeure. As used herein, "FORCE MAJEURE" means war or
armed hostilities or other national or international calamity, or one or more
acts of terrorism, which are having a material adverse effect on the financial
markets in the United States. Furthermore, any payments owed as a result of
Section 2 shall not accrue during any period during which the Company's
performance hereunder has been delayed or the Company's ability to fulfill its
obligations hereunder has been impaired by a Force Majeure.

                           (k)      Titles. The titles used in this Agreement
are used for convenience only and are not to be considered in construing or
interpreting this Agreement.

                           (l)      No Strict Construction. The language used in
this Agreement will be deemed to be the language chosen by the parties to
express their mutual intent, and no rule of strict construction will be applied
against any party.

                                       14
<PAGE>

         IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
duly executed as of the date first above written.

                           COMPANY:

                           LIQUIDMETAL TECHNOLOGIES, INC.

                           By: /s/ John Kang
                               -------------------------------------------------
                               John Kang, President and Chief Executive Officer

                           PURCHASERS:

                           MIDDLEBURY CAPITAL, LLC

                           By: /s/ Eric Brachfeld
                               ----------------------------------------------
                           Name: Eric Brachfeld
                           Title:  Managing Member

                                       15
<PAGE>

                           COUNTERPART SIGNATURE PAGE
                        TO REGISTRATION RIGHTS AGREEMENT,
                              DATED MARCH 1, 2004,
                    AMONG LIQUIDMETAL TECHNOLOGIES, INC. AND
                       THE "PURCHASERS" IDENTIFIED THEREIN

The undersigned hereby executes and delivers the Registration Rights Agreement
to which this Signature Page is attached, which, together with all counterparts
of the Registration Rights Agreement and Signature Pages of the Company and
other "Purchasers" under the Registration Rights Agreement, shall constitute one
and the same document in accordance with the terms of the Registration Rights
Agreement.

JESS MORGAN & CO., INC.
/s/ Gary Levenson
Gary Levenson
Executive Vice President, Jess S. Morgan & Co., Inc.

                                       16

<PAGE>

                           COUNTERPART SIGNATURE PAGE
                        TO REGISTRATION RIGHTS AGREEMENT,
                              DATED MARCH 1, 2004,
                    AMONG LIQUIDMETAL TECHNOLOGIES, INC. AND
                       THE "PURCHASERS" IDENTIFIED THEREIN

The undersigned hereby executes and delivers the Registration Rights Agreement
to which this Signature Page is attached, which, together with all counterparts
of the Registration Rights Agreement and Signature Pages of the Company and
other "Purchasers" under the Registration Rights Agreement, shall constitute one
and the same document in accordance with the terms of the Registration Rights
Agreement.

PRANA LLC
/s/ Jerry C. Apodara
Jerry C. Apodara
Chief Executive Officer

                                       17
<PAGE>

                           COUNTERPART SIGNATURE PAGE
                        TO REGISTRATION RIGHTS AGREEMENT,
                              DATED MARCH 1, 2004,
                    AMONG LIQUIDMETAL TECHNOLOGIES, INC. AND
                       THE "PURCHASERS" IDENTIFIED THEREIN

The undersigned hereby executes and delivers the Registration Rights Agreement
to which this Signature Page is attached, which, together with all counterparts
of the Registration Rights Agreement and Signature Pages of the Company and
other "Purchasers" under the Registration Rights Agreement, shall constitute one
and the same document in accordance with the terms of the Registration Rights
Agreement.

DKR SOUNDSHORE OASIS HOLDING FUND LTD.
/s/ Barbara Burger
Barbara Burger, Alt. Director

                                       18
<PAGE>

                           COUNTERPART SIGNATURE PAGE
                        TO REGISTRATION RIGHTS AGREEMENT,
                              DATED MARCH 1, 2004,
                    AMONG LIQUIDMETAL TECHNOLOGIES, INC. AND
                       THE "PURCHASERS" IDENTIFIED THEREIN

The undersigned hereby executes and delivers the Registration Rights Agreement
to which this Signature Page is attached, which, together with all counterparts
of the Registration Rights Agreement and Signature Pages of the Company and
other "Purchasers" under the Registration Rights Agreement, shall constitute one
and the same document in accordance with the terms of the Registration Rights
Agreement.

RODD FRIEDMAN
/s/ Rodd Friedman

                                       19
<PAGE>

                           COUNTERPART SIGNATURE PAGE
                        TO REGISTRATION RIGHTS AGREEMENT,
                              DATED MARCH 1, 2004,
                    AMONG LIQUIDMETAL TECHNOLOGIES, INC. AND
                       THE "PURCHASERS" IDENTIFIED THEREIN

The undersigned hereby executes and delivers the Registration Rights Agreement
to which this Signature Page is attached, which, together with all counterparts
of the Registration Rights Agreement and Signature Pages of the Company and
other "Purchasers" under the Registration Rights Agreement, shall constitute one
and the same document in accordance with the terms of the Registration Rights
Agreement.

BEAR STEARNS F/B/O ROSEN CAPITAL LP M/P/P PLAN
/s/ Bruce Rosen
Bruce Rosen
Trustee

                                       20
<PAGE>

                           COUNTERPART SIGNATURE PAGE
                        TO REGISTRATION RIGHTS AGREEMENT,
                              DATED MARCH 1, 2004,
                    AMONG LIQUIDMETAL TECHNOLOGIES, INC. AND
                       THE "PURCHASERS" IDENTIFIED THEREIN

The undersigned hereby executes and delivers the Registration Rights Agreement
to which this Signature Page is attached, which, together with all counterparts
of the Registration Rights Agreement and Signature Pages of the Company and
other "Purchasers" under the Registration Rights Agreement, shall constitute one
and the same document in accordance with the terms of the Registration Rights
Agreement.

CAYDAL, LLC
BY SAN ISABAL LIMITED, ITS MANAGING MEMBER
/s/ Kevin Daly
Kevin Daly
General Partner

                                       21
<PAGE>

                           COUNTERPART SIGNATURE PAGE
                        TO REGISTRATION RIGHTS AGREEMENT,
                              DATED MARCH 1, 2004,
                    AMONG LIQUIDMETAL TECHNOLOGIES, INC. AND
                       THE "PURCHASERS" IDENTIFIED THEREIN

The undersigned hereby executes and delivers the Registration Rights Agreement
to which this Signature Page is attached, which, together with all counterparts
of the Registration Rights Agreement and Signature Pages of the Company and
other "Purchasers" under the Registration Rights Agreement, shall constitute one
and the same document in accordance with the terms of the Registration Rights
Agreement.

MARLIN FUND, LP
/s/ Michael W. Masters
Michael W. Masters
Managing Member of the General Partner

                                       22
<PAGE>

                           COUNTERPART SIGNATURE PAGE
                        TO REGISTRATION RIGHTS AGREEMENT,
                              DATED MARCH 1, 2004,
                    AMONG LIQUIDMETAL TECHNOLOGIES, INC. AND
                       THE "PURCHASERS" IDENTIFIED THEREIN

The undersigned hereby executes and delivers the Registration Rights Agreement
to which this Signature Page is attached, which, together with all counterparts
of the Registration Rights Agreement and Signature Pages of the Company and
other "Purchasers" under the Registration Rights Agreement, shall constitute one
and the same document in accordance with the terms of the Registration Rights
Agreement.

MARLIN FUND II, LP
/s/ Michael W. Masters
Michael W. Masters
Managing Member of the General Partner

                                       23
<PAGE>

                           COUNTERPART SIGNATURE PAGE
                        TO REGISTRATION RIGHTS AGREEMENT,
                              DATED MARCH 1, 2004,
                    AMONG LIQUIDMETAL TECHNOLOGIES, INC. AND
                       THE "PURCHASERS" IDENTIFIED THEREIN

The undersigned hereby executes and delivers the Registration Rights Agreement
to which this Signature Page is attached, which, together with all counterparts
of the Registration Rights Agreement and Signature Pages of the Company and
other "Purchasers" under the Registration Rights Agreement, shall constitute one
and the same document in accordance with the terms of the Registration Rights
Agreement.

MARLIN FUND OFFSHORE, LTD.
/s/ Michael W. Masters
Michael W. Masters
Managing Member of the Investment Manager

                                       24
<PAGE>

                           COUNTERPART SIGNATURE PAGE
                        TO REGISTRATION RIGHTS AGREEMENT,
                              DATED MARCH 1, 2004,
                    AMONG LIQUIDMETAL TECHNOLOGIES, INC. AND
                       THE "PURCHASERS" IDENTIFIED THEREIN

The undersigned hereby executes and delivers the Registration Rights Agreement
to which this Signature Page is attached, which, together with all counterparts
of the Registration Rights Agreement and Signature Pages of the Company and
other "Purchasers" under the Registration Rights Agreement, shall constitute one
and the same document in accordance with the terms of the Registration Rights
Agreement.

PROFESSIONAL TRADERS FUND, LLC
/s/ Professional Traders Fund, LLC

                                       25
<PAGE>

                           COUNTERPART SIGNATURE PAGE
                        TO REGISTRATION RIGHTS AGREEMENT,
                              DATED MARCH 1, 2004,
                    AMONG LIQUIDMETAL TECHNOLOGIES, INC. AND
                       THE "PURCHASERS" IDENTIFIED THEREIN

The undersigned hereby executes and delivers the Registration Rights Agreement
to which this Signature Page is attached, which, together with all counterparts
of the Registration Rights Agreement and Signature Pages of the Company and
other "Purchasers" under the Registration Rights Agreement, shall constitute one
and the same document in accordance with the terms of the Registration Rights
Agreement.

LARRY BOUTS
/s/ Larry Bouts

                                       26
<PAGE>

                           COUNTERPART SIGNATURE PAGE
                        TO REGISTRATION RIGHTS AGREEMENT,
                              DATED MARCH 1, 2004,
                    AMONG LIQUIDMETAL TECHNOLOGIES, INC. AND
                       THE "PURCHASERS" IDENTIFIED THEREIN

The undersigned hereby executes and delivers the Registration Rights Agreement
to which this Signature Page is attached, which, together with all counterparts
of the Registration Rights Agreement and Signature Pages of the Company and
other "Purchasers" under the Registration Rights Agreement, shall constitute one
and the same document in accordance with the terms of the Registration Rights
Agreement.

REALLY COOL GROUP LTD.
/s/ Jonathan Segal
Jonathan Segal
Director

                                       27
<PAGE>

                           COUNTERPART SIGNATURE PAGE
                        TO REGISTRATION RIGHTS AGREEMENT,
                              DATED MARCH 1, 2004,
                    AMONG LIQUIDMETAL TECHNOLOGIES, INC. AND
                       THE "PURCHASERS" IDENTIFIED THEREIN

The undersigned hereby executes and delivers the Registration Rights Agreement
to which this Signature Page is attached, which, together with all counterparts
of the Registration Rights Agreement and Signature Pages of the Company and
other "Purchasers" under the Registration Rights Agreement, shall constitute one
and the same document in accordance with the terms of the Registration Rights
Agreement.

MYRON NEUGEBOREN
/s/ Myron Neugeboren

                                       28
<PAGE>

                           COUNTERPART SIGNATURE PAGE
                        TO REGISTRATION RIGHTS AGREEMENT,
                              DATED MARCH 1, 2004,
                    AMONG LIQUIDMETAL TECHNOLOGIES, INC. AND
                       THE "PURCHASERS" IDENTIFIED THEREIN

The undersigned hereby executes and delivers the Registration Rights Agreement
to which this Signature Page is attached, which, together with all counterparts
of the Registration Rights Agreement and Signature Pages of the Company and
other "Purchasers" under the Registration Rights Agreement, shall constitute one
and the same document in accordance with the terms of the Registration Rights
Agreement.

JONAS BRACHFELD
/s/ Jonas Brachfeld

                                       29
<PAGE>

                           COUNTERPART SIGNATURE PAGE
                        TO REGISTRATION RIGHTS AGREEMENT,
                              DATED MARCH 1, 2004,
                    AMONG LIQUIDMETAL TECHNOLOGIES, INC. AND
                       THE "PURCHASERS" IDENTIFIED THEREIN

The undersigned hereby executes and delivers the Registration Rights Agreement
to which this Signature Page is attached, which, together with all counterparts
of the Registration Rights Agreement and Signature Pages of the Company and
other "Purchasers" under the Registration Rights Agreement, shall constitute one
and the same document in accordance with the terms of the Registration Rights
Agreement.

GREG OSBORN
/s/ Greg Osborn

                                       30
<PAGE>

                           COUNTERPART SIGNATURE PAGE
                        TO REGISTRATION RIGHTS AGREEMENT,
                              DATED MARCH 1, 2004,
                    AMONG LIQUIDMETAL TECHNOLOGIES, INC. AND
                       THE "PURCHASERS" IDENTIFIED THEREIN

The undersigned hereby executes and delivers the Registration Rights Agreement
to which this Signature Page is attached, which, together with all counterparts
of the Registration Rights Agreement and Signature Pages of the Company and
other "Purchasers" under the Registration Rights Agreement, shall constitute one
and the same document in accordance with the terms of the Registration Rights
Agreement.

RICHARD MOLINSKY
/s/ Richard Molinsky

                                       31
<PAGE>

                           COUNTERPART SIGNATURE PAGE
                        TO REGISTRATION RIGHTS AGREEMENT,
                              DATED MARCH 1, 2004,
                    AMONG LIQUIDMETAL TECHNOLOGIES, INC. AND
                       THE "PURCHASERS" IDENTIFIED THEREIN

The undersigned hereby executes and delivers the Registration Rights Agreement
to which this Signature Page is attached, which, together with all counterparts
of the Registration Rights Agreement and Signature Pages of the Company and
other "Purchasers" under the Registration Rights Agreement, shall constitute one
and the same document in accordance with the terms of the Registration Rights
Agreement.

VITO CAPOTORTO
/s/ Vito Capotorto

                                       32
<PAGE>

                           COUNTERPART SIGNATURE PAGE
                        TO REGISTRATION RIGHTS AGREEMENT,
                              DATED MARCH 1, 2004,
                    AMONG LIQUIDMETAL TECHNOLOGIES, INC. AND
                       THE "PURCHASERS" IDENTIFIED THEREIN

The undersigned hereby executes and delivers the Registration Rights Agreement
to which this Signature Page is attached, which, together with all counterparts
of the Registration Rights Agreement and Signature Pages of the Company and
other "Purchasers" under the Registration Rights Agreement, shall constitute one
and the same document in accordance with the terms of the Registration Rights
Agreement.

RICHARD AND JOANNE KANE
/s/ Richard Kane
/s/ Joanne S. Kane

                                       33
<PAGE>

                           COUNTERPART SIGNATURE PAGE
                        TO REGISTRATION RIGHTS AGREEMENT,
                              DATED MARCH 1, 2004,
                    AMONG LIQUIDMETAL TECHNOLOGIES, INC. AND
                       THE "PURCHASERS" IDENTIFIED THEREIN

The undersigned hereby executes and delivers the Registration Rights Agreement
to which this Signature Page is attached, which, together with all counterparts
of the Registration Rights Agreement and Signature Pages of the Company and
other "Purchasers" under the Registration Rights Agreement, shall constitute one
and the same document in accordance with the terms of the Registration Rights
Agreement.

PUGLISI CAPITAL PARTNERS
/s/ Jeffrey J. Puglisi
Jeffrey J. Puglisi
Managing Member of the General Partner, JJP Partners, LLC

                                       34
<PAGE>

                           COUNTERPART SIGNATURE PAGE
                        TO REGISTRATION RIGHTS AGREEMENT,
                              DATED MARCH 1, 2004,
                    AMONG LIQUIDMETAL TECHNOLOGIES, INC. AND
                       THE "PURCHASERS" IDENTIFIED THEREIN

The undersigned hereby executes and delivers the Registration Rights Agreement
to which this Signature Page is attached, which, together with all counterparts
of the Registration Rights Agreement and Signature Pages of the Company and
other "Purchasers" under the Registration Rights Agreement, shall constitute one
and the same document in accordance with the terms of the Registration Rights
Agreement.

RICARDO A. SALAS
/s/ Ricardo A. Salas

                                       35
<PAGE>

                           COUNTERPART SIGNATURE PAGE
                        TO REGISTRATION RIGHTS AGREEMENT,
                              DATED MARCH 1, 2004,
                    AMONG LIQUIDMETAL TECHNOLOGIES, INC. AND
                       THE "PURCHASERS" IDENTIFIED THEREIN

The undersigned hereby executes and delivers the Registration Rights Agreement
to which this Signature Page is attached, which, together with all counterparts
of the Registration Rights Agreement and Signature Pages of the Company and
other "Purchasers" under the Registration Rights Agreement, shall constitute one
and the same document in accordance with the terms of the Registration Rights
Agreement.

WRY LTD.
/s/ Jonathan Segal
Jonathan Segal
Director

                                       36
<PAGE>

                           COUNTERPART SIGNATURE PAGE
                        TO REGISTRATION RIGHTS AGREEMENT,
                              DATED MARCH 1, 2004,
                    AMONG LIQUIDMETAL TECHNOLOGIES, INC. AND
                       THE "PURCHASERS" IDENTIFIED THEREIN

The undersigned hereby executes and delivers the Registration Rights Agreement
to which this Signature Page is attached, which, together with all counterparts
of the Registration Rights Agreement and Signature Pages of the Company and
other "Purchasers" under the Registration Rights Agreement, shall constitute one
and the same document in accordance with the terms of the Registration Rights
Agreement.

KEITH BARKSDALE
/s/ Keith Barksdale

                                       37

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