ACER S120 Liquid Metal hard reset

With the phone turned off, press and hold both VOLUME UP + VOLUME DOWN + POWER ON for 3-5 sec.
To hard reset Acer S120 Liquid MT Press Volume UP, THEN CAMERA KEY.  FOR CANCEL press Volume DOWN, then Camera key.

Performing a factory reset via settings

From the Home screen, press MENU, and then tap Settings.
Tap SD & phone storage > Factory data reset.
On the Factory data reset screen, tap Reset phone, and then tap Erase everything.

Acer Liquid metal S120 BOOTLOADER = VOLUME DOWN + POWER