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From: caly2/14/2012 2:05:16 PM
   of 1708
 
dark-fiber.tmcnet.com 

Lightwave Logic's Perkinamine Indigo Helps Overcome Speed Limitations in Optical Computing




By Madhubanti Rudra

TMCnet Contributor




Lightwave Logic, Inc., a start-up technology firm focused on the development of a next generation, non-linear optical polymer materials platform for applications in high speed fiber-optic tele- and data communications, announced the introduction of a new Organic Nonlinear Material called Perkinamine.

A press release revealed that the company is currently engaged in the development of Spatial Light Modulator (SLM) using Perkinamine. The use of this new material can offer a billion-fold improvement to the performances of Spatial Light Modulators, the company claimed. On completion of a working prototype, the company will commercialize the technology through a partner network.

Spatial light modulator is a device that can format information for an optical computer. A Spatial Light Modulator can be considered the heart of an optical computer in the way that a CPU is the core of a digital computer.

In a conference call with shareholders on January 25, 2012, Terry Turpin, Lightwave Logic's Optical Computing Expert discussed about the many advantages of a Spatial Light Modulator (SLM). Most of the machine intelligence applications like, facial recognition, pattern recognition and speech recognition are based on Spatial Light Modulators.

Perkinamine Indigo, which is being used in the development of SLM, has electro-optical properties (r33) in excess of 250 picometers per volt. Company CEO Jim Marcelli said that the material would place LWLG in the forefront of organic electro-optical technology. The Perkinamine Indigo will allow the companies to design modulator devices that will be able to exceed the performance of existing legacy infrastructure in both telecommunications and data communications markets.

“The progress of Optical Computing has been limited by legacy liquid crystal display (LCD) technology which while effective, can only refresh at 10 to 30 millisecond intervals. Because of the extremely fast response time of Lightwave Logic's organic nonlinear optical materials are in the range of a picoseconds (one-billionth of a second versus LCD at 10 to 30-thousands of a second), improvement in performance could be a billion-fold,” Turpin, who is a recognized expert in optical computing said in a statement.

Earlier this year Lightwave Logic appointed Fred J. Leonberger as a senior advisor to the company. Leonberger is currently the principal of EOvation Advisors, a technology and business advisory firm that he founded in 2003. He serves on the Board of Directors of several venture-funded photonics companies and has been a senior advisor at the MIT ( News - Alert) Center for Integrated Photonic Systems.



Madhubanti Rudra is a contributing editor for TMCnet. To read more of her articles, please visit her columnist page.

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From: Todmohr3/9/2012 9:00:31 AM
   of 1708
 
Just wondering if anyone has any thoughts about the enclosed news link referencing IBM's latest optical modulator technology....

Best,
Tod


finance.yahoo.com 

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From: caly3/13/2012 11:14:42 PM
1 Recommendation   of 1708
 


facebook.com 

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To: caly who wrote (1646)4/2/2012 8:26:03 PM
From: Zoro99
   of 1708
 
Year-End 10K filing for Lightwave Logic made today. They had a notification of late filing last week since this was actually due by March 31st. Glad to see they got the report made just a couple of days late here.

See link:
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8520245

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To: Zoro99 who wrote (1647)4/9/2012 1:24:28 PM
From: Zoro99
   of 1708
 
Lightwave Logic Significantly Increases Its Cash Reserves

NEWARK, Del., April 9, 2012 /PRNewswire/ -- Lightwave Logic, Inc. (OTC Bulletin Board: LWLG), a technology company focused on the development of a Next Generation Non Linear Optical Polymer Materials Platform for applications in high speed fiber-optic data communications and optical computing, announced today that it has significantly increased its cash reserves.

Lightwave Logic's Annual Report on Form 10-K for the fiscal year ending 2011, filed on April 2, 2012, disclosed that during the period January 1, 2012 through April 2, 2012, the company issued an aggregate of 2,299,849 shares of its common stock pursuant to equity sales, warrant and stock option exercises in exchange for cash proceeds of $3,419,398. As of April 2, 2012 the Company's cash position was $3,194,810.

Lightwave Logic's new cash position has enabled its auditors to not include a going concern opinion in their audit report issued to the company, which is contained in the company's Annual Report on Form 10-K. The going concern consideration required by Generally Accepted Accounting Standards SAS No. 59 requires an auditor to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern.

Jim Marcelli, Lightwave Logic's Chief Executive Officer, stated, "The absence of a going concern opinion for the first time in the history of our company is a significant achievement for us as a pre-revenue development stage entity. With $3,194,810 in cash on April 2, 2012, we believe we currently have sufficient cash on hand to fund our operations through September 2013."

"Powered by Lightwave Logic"
Lightwave Logic, Inc. is a development stage company that is producing prototype electro-optic demonstration devices and is moving toward commercialization of its high-activity, high-stability organic polymers for applications in electro-optical device markets. Electro-optical devices convert data from electric signals into optical signals for use in high-speed fiber-optic telecommunications systems and optical computers. For further information about Lightwave Logic, visit our website at: www.lightwavelogic.com or at: facebook.com 

Safe Harbor Statement
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "explores," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control.

For Further Information Contact:



Steven Cordovano

Lightwave Logic

203-952-6373

steve@lightwavelogic.com

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To: Zoro99 who wrote (1648)4/23/2012 10:50:45 AM
From: Zoro99
   of 1708
 

University of Arizona to Perform Additional Advanced Optical Measurements on Lightwave Logic's Perkinamine Indigo(TM)

University Observes Intriguing Effects in Initial Tests

NEWARK, Del., April 23, 2012 /PRNewswire via COMTEX/ -- Lightwave Logic, Inc. (OTC Bulletin Board: LWLG), a technology company focused on the development of a Next Generation Non Linear Optical Polymer Materials Platform for applications in high speed fiber-optic data communications and optical computing, announced today that tests continue to be conducted at the University of Arizona to further validate previous results demonstrated at the University of Colorado and Photon-X, both of whom measured an electro-optical effect of greater than 250 picometers per volt at 1550-nanometers using the conventional Teng-Man testing protocol.

The University of Arizona College of Optical Sciences has observed some intriguing effects in their initial measurements and would like to do further research to better understand the origin of Perkinamine Indigo's(TM) response by analyzing two additional material coefficients: the electro-optic coefficient r13 and the piezoelectric coefficient d33 in an effort to accurately determine the total contribution from electro-optic coefficient r33. This will require new material samples aligned in a different geometry that is more conducive to the University's technical requirements to support their Mach-Zehnder interferometry test method.

Jim Marcelli, Lightwave Logic's Chief Executive Officer commented, "We are pleased that Dr. Norwood has observed an unusual response in our material and looks forward to a more in-depth analysis of all the previous electro-optic coefficient measurements made. Meanwhile, we continue to test Perkinamine Indigo(TM) using the standard Teng-Man method at Photon-X and CU Boulder with promising results. Our internal development effort on the balance of our Perkinamine(TM) family of chromophores is moving forward as planned. We continue to work with our major microelectronics company and large system supplier through the continued testing."

Dr. Louis Glasgow, Lightwave's Chief Technology Officer stated, "While Dr. Norwood's group attempted to utilize the existing material samples in order to have a direct comparison with earlier measurements, these were not compatible with the technical specifications of the new Arizona testing procedure.

"We have agreed to reconfigure the material and provide them new samples that will satisfy their new testing protocol. We anticipate that this may take us at least one month to complete. We are continuing our effort to deepen our understanding of Perkinamine Indigo's(TM) unusual properties to further our general effort to commercialize devices built around our entire family of advanced organic nonlinear optical polymers."

"Powered by Lightwave Logic"

Lightwave Logic, Inc. is a development stage company that is producing prototype electro-optic demonstration devices and is moving toward commercialization of its high-activity, high-stability organic polymers for applications in electro-optical device markets. Electro-optical devices convert data from electric signals into optical signals for use in high-speed fiber-optic telecommunications systems and optical computers. Please visit the Company's website, www.lightwavelogic.com for more information.

Safe Harbor Statement

The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "explores," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control.



For Further Information Contact:
Steven Cordovano
Lightwave Logic
203-952-6373
steve@lightwavelogic.com


SOURCE Lightwave Logic, Inc.

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To: Zoro99 who wrote (1649)4/25/2012 6:20:12 PM
From: Zoro99
   of 1708
 
Optical Measurements on Lightwave Logic's Perkinamine Indigo to Continue

Published on April 25, 2012 at 5:27 AM
By Andy Choi

Lightwave Logic, a technology company recently declared that the University of Arizona will continue to carry out further tests to verify and confirm the former results presented at Photon-X and the University of Colorado.

The outcome results demonstrated the measurement of an electro-optical effect to be greater than 250 pm/V at 1550-nm based on a conventional Teng-Man testing protocol.

From the initial measurements, the University of Arizona, College of Optical Science researchers have discovered certain significant effects, which motivated them for additional research. Further researches will enable scientists to resolve the way in which Perkinamine Indigo’s response was originated. Analysis of two additional material coefficients that include the piezoelectric coefficient d33 and the electro-optic coefficient r13 facilitated the determination of the overall contribution derived from electro-optic coefficient r33. New material samples, when lined-up in a different geometry will ensure a more precise Mach-Zehnder interferometry test method using the University's technical requirements.

According to, Lightwave Logic's Chief Executive Officer, Jim Marcelli the observation of material by Dr. Norwood contributes to a more detailed analysis of all the electro-optic coefficient measurements that were formerly carried out. Based on the standard Teng-Man method, further validation on Perkinamine Indigo at Photon-X and CU Boulder, ensures encouraging results. The internal development effort on balancing its Perkinamine family of chromophores has shown further progress. This continued validation testing has involved and improved communication between its major microelectronics company and large system supplier.

Source: http://www.lightwavelogic.com/

Article Link:
http://www.azooptics.com/News.aspx?newsID=15441

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To: Zoro99 who wrote (1650)5/2/2012 6:06:12 PM
From: Zoro99
   of 1708
 

Lightwave Logic Chairman Tom Zelibor Appointed New Chief Executive Officer

Jim Marcelli to Serve as President and Chief Operating Officer


NEWARK, Del., May 2, 2012 /PRNewswire via COMTEX/ -- Lightwave Logic, Inc. (OTC Bulletin Board: LWLG), a technology company focused on the development of a Next Generation Non Linear Optical Polymer Materials Platform for applications in high speed fiber-optic data communications and optical computing, announced today that its Board of Directors appointed its current Non-Executive Chairman of the Board of Directors, Thomas E. Zelibor, Rear Admiral, USN (Ret), as its new Chief Executive Officer and Executive Chairman of the Board of Directors effective May 1, 2012. Former Chief Executive Jim Marcelli will continue to serve as the company's President and assume the new role of Chief Operating Officer.

Mr. Zelibor has served as our Non-Executive Chair of the Board of Directors since October 2011 and has been a director of our company since July 2008. Mr. Zelibor has over twenty-five years of strategic planning and executive leadership experience. Previously, Mr. Zelibor served as the Chief Executive Officer and President of Zelibor & Associates, LLC, a management consulting firm, and as the Chief Executive Officer and President of Flatirons Solutions Corp., a professional services firm that provides consulting, systems integration, systems & software engineering, and program management expertise to corporate and government clients. Prior to that, Mr. Zelibor served as the Dean of the College of Operational and Strategic Leadership at the United States Naval War College where he was responsible for the adoption of a corporate approach to leadership development, in addition to a number of other positions, including Director of Global Operations, United States Strategic Command; Director, Space, Information Warfare, Command and Control on the Navy staff; Department of the Navy, Deputy Chief Information Officer (CIO), Navy; Commander, Carrier Group Three and Commander, Naval Space Command.

Independent board member, William Pickett, commented, "The Board is pleased to have Tom assume the role of Chief Executive Officer of our company. As our company continues to grow and evolve, we believe that the appointment of Tom as CEO, along with Jim Marcelli continuing on as President and Chief Operating Officer, plays to their individual strengths. By expanding our company's leadership, we are positioned to provide greater management focus on both external communications and operating intensity."

Tom Zelibor stated, "I am excited to have the opportunity to directly and more proactively influence the direction of our company. I am in the process of reviewing the status of our materials progress, shareholder and customer relationships, as well as personnel, infrastructure and future cash requirements. Once this is complete, I will issue an update letter to the shareholders to discuss my findings and intended actions. I look forward to helping Lightwave Logic move forward and achieve success."

"Powered by Lightwave Logic"Lightwave Logic, Inc. is a development stage company that is producing prototype electro-optic demonstration devices and is moving toward commercialization of its high-activity, high-stability organic polymers for applications in electro-optical device markets. Electro-optical devices convert data from electric signals into optical signals for use in high-speed fiber-optic telecommunications systems and optical computers. For more information, please visit the Company's website, http://www.lightwavelogic.com or at: http://facebook.com/lightwavelogic.

Safe Harbor StatementThe information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "explores," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control.

For Further Information Contact:
Steven Cordovano
Lightwave Logic
203-952-6373
steve@lightwavelogic.com

SOURCE Lightwave Logic


www.prnewswire.com

Copyright (C) 2012 PR Newswire. All rights reserved
-0-

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To: Zoro99 who wrote (1651)5/16/2012 7:51:10 PM
From: Zoro99
   of 1708
 
Lightwave Logic, Inc. CEO Issues Letter to Shareholders

NEWARK, Del., May 16, 2012 /PRNewswire via COMTEX/ -- Lightwave Logic, Inc. (OTC Bulletin Board: LWLG) a technology company focused on the development of the 'Next Generation Nonlinear Optical Polymer Material Platform' for applications in high speed fiber-optic data communications and optical computing, announces that Tom Zelibor, its Chairman and Chief Executive Officer has sent the following open letter to its shareholders:

Open Letter to Lightwave Logic, Inc. Shareholders

Fellow Shareholders,

I would like to begin by telling you how excited I am to be appointed as the new CEO of Lightwave Logic, Inc. It is an honor and a privilege for me assume this position and I am looking forward to the increased responsibility and the opportunity to make a greater contribution to the success of our Company. We have some impressive technology under development, but there is a great deal of work left to do and I am very anxious to improve the Company's efforts to move us forward.

I would also like to take this opportunity to thank Jim Marcelli, our former CEO, for all of his hard work and years of service in that position. Jim did a very good job getting the Company organized, functioning and financed to the level that we are today. With the capital Jim has been able to secure through private placements, as well as the Lincoln Park Capital purchase agreement, we now have the resources necessary to make the investments required for our future growth.

I want to make sure you all understand that the demands of running the Company were getting increasingly complicated and it had become clear that there was not enough time in the day to manage scientific development, day-to-day administration, financial management and shareholder communications. This generated frustration about the seemingly slow progress we have been making as a company. Now that I am the Chairman and CEO, I will have the opportunity to be engaged full-time in the Company's efforts. In addition, having Jim focus on the operational side of our business will give the Company increased efficiency and help us achieve our commercialization goals more rapidly. This is a huge win for you, our shareholders and as we previously announced, he has taken over the responsibilities as the Company's President and Chief Operating Officer. This change will allow us to operate more effectively as a team and be more proactive, vice reactive.

Finally, I want to thank the Board of Directors for the support I have received over the past several months in the capacity of non-executive Chairman of the Board. We are very fortunate to have such a talented group of professionals to help us on our Board and it is a pleasure to work alongside each and every one of them.

Five Areas of Focus:

1. Control of Critical Functions

I am now in the process of evaluating all the areas of our business that have hindered our operational efficiency. For years now, we have had a strong reliance on Universities to accomplish much of our synthetic chemistry and testing. We have derived some good benefits from these relationships and it was a sound strategy for a company with limited resources. However, having a single reliance on academic institutions for our critical functions is not a viable long-term solution for a company such as ours since by definition, they do not share our same sense of urgency. Going forward, I am going to narrow our reliance on them by actively searching for full-time organic/synthetic chemists, as well as an optical engineer to bring most of this activity inside Lightwave Logic. I want young, hungry professionals that have a strong desire to be a part of something special and willing to put in the time and effort required to achieve our goals. Throughout my career I have never relished the thought of being held hostage by things that are not in my control and I don't intend to start now. We will take control of our own destiny.

2. Product Testing

The next issue that needs redirection is our product testing. As Joe Miller mentioned at last year's annual meeting, testing has always been a hindrance to scientific development. And for us, relying on outside testing entities has magnified the problem. It has severely limited our ability to respond effectively to our potential customers and partners. This is not ideal for us and my intent is to make a concerted effort to obtain our own internal testing capability, hence the search for an optical engineer I mentioned above.

It is important to realize that there can be a lot of variability involved in testing due to theoretical disagreement, along with differences in technical procedures and even human error. At the end of the day, the most valuable test is how a material works in a device. Dr. Fred Leonberger is currently at work in that endeavor. He has recently finished an initial design of a modulator using Perkinamine Indigo(TM) and we are beginning to implement this design in an operational device. Our current schedule targets completion of this prototype modulator later this year -- subject to the successful characterization of our materials both on a stand-alone basis and in a modulator design.

Finally, modern lab facilities and equipment are essential not only to ensure that we can develop and produce repeatable, high quality processes and materials, but just as important, they are critical to the recruitment and retention of the key personnel we need in the Company to help us advance the science we value so much. We have outgrown the start-up nature of our current facilities and we are about to change the culture of our entire organization. To accomplish this goal, we have signed a lease (effective May 1st) for a new laboratory in the Delaware Technology Park and near the University of Delaware. We have begun purchasing the necessary capital equipment to outfit this facility to our specifications and standards. We expect to begin operations there in June. I feel it is imperative to have a tightly linked coupling between chemical synthesis and testing. This move will give us the ability to synthesize and test in the same facility and will help us accelerate our development efforts. Completing these actions convinces me we can dramatically improve how we develop, test and compare results, allowing us to take better advantage of our materials progress up to this point.

3. Commercial Activity

It is also imperative that we have a fully developed and well-publicized strategic vision and business plan. This plan must detail phases of our development as a company, complete with milestones and objectives assigned to individuals in the organization. This has been attempted a few times in our past, but has not been fully accomplished to the expected level or to my satisfaction. To that end, I am looking for an additional Board member with start-up expertise and financial market savvy to give us the additional insight and experience we need to build realistic business expectations and product development strategies that are achievable for a company whose goal is to create sustainable growth.

While there is bona fide commercial interest in our technology, part of the delay we are experiencing reflects some reticence by customers to dive into and be the first to implement organic nonlinear optical polymer materials in their products. That said, one product opportunity that has recently emerged on the path to commercialization is the development of optical limiters using our Third-Order material, Perkinamine NR(TM). An optical limiter is a device that absorbs light in a wide range of frequencies and then limits transmitted light (such as laser energy) to protect sensitive sensors or the human eye from damage. The device can accomplish this at very high rates of speed. As you might expect, some Department of Defense laboratories have made it known that there is a tremendous need for a material with this type of capability. We are pursuing this with the Air Force Research Laboratory, which is conducting tests on our material now. Additionally, our major microelectronics partner has indicated that they are interested in bringing some of our material testing internal to their company, which should enhance our progress with them.

For more detailed information including updates on where we are in the development of our Perkinamine(TM) family of materials, I invite you to review our Form 10-Q that was just released on May 15th. I will continue to inform you of any new developments.

4. Investor Communications

When I took the Chair last fall, I believed strongly that one of our goals should be to improve communications to both our shareholders and to the professional investment community. Other than significantly improving the website, the overall effort to improve our communications did not happen the way I envisioned it and we fell short of my goals. As a result, I am going to make this initiative a priority.

We attempted to improve our communications as economically as possible and kept the process internal. I still feel at our current stage of development we can meet everyone's needs effectively with that strategy, but we must continually work to improve our execution. We will allocate the appropriate level of resources to this very important area to develop a professional, well thought out IR/PR plan and execution is key. If our shareholders and the professional investment community do not have regular, and understandable communications, the predictable response will be indifference and confusion. I am already in the process of working through a clear and concise message that everyone will be able to understand. I also feel strongly that listing on an exchange such as the NASDAQ is necessary to increase access to institutional investors. We are currently investigating the requirements to accomplish that goal. The results of this program, over time, should be an increase in our institutional investor base, and increased opportunities for potential partnerships and acquisitions.

I want to see shareholder value increase as a result of our hard work and results. The objective is to effectively manage long-term shareholder value. Our share price will go up and down as influenced by our successes, challenges and many other factors not under our control. Splitting the duties of CEO and President/COO will allow us to spend more time on the road meeting as many professional investors, registered representatives and retail investors as possible -- getting our story out. I also expect to talk about our technology and its potential uses in conferences, whitepapers, trade journals and other media outlets. We need these programs for obvious reasons and until we really begin this in earnest, no one will know who we are, or what we have accomplished.

5. Leadership

Many factors have to work in concert to be an effective leader who accomplishes the goals and objectives for an organization. For me, the three most important are: responsibility, authority and accountability. Interestingly enough, my previous roles in Lightwave Logic gave me plenty of responsibility and accountability, but did not carry the requisite authority. In my new position, that triangle is now complete; therefore, I will expend considerable energy to complete the items I have outlined above. I consider it a real privilege to have this opportunity and I will take full advantage of it. I look forward to leading the effort to make Lightwave Logic successful. You all have been very patient and loyal and I want you to know that the entire Lightwave Logic team greatly appreciates both your commitment and trust. We are going to work extremely hard to make you proud of your ownership of our exciting young company.

Sincerely,

Tom Zelibor Chairman & CEO, Lightwave Logic, Inc.

"Powered by Lightwave Logic" Lightwave Logic, Inc. is a development stage company that is producing prototype electro-optic demonstration devices and is moving toward commercialization of its high-activity, high-stability organic polymers for applications in electro-optical device markets. Electro-optical devices convert data from electric signals into optical signals for use in high-speed fiber-optic telecommunications systems and optical computers. Please visit the Company's website, http://www.lightwavelogic.com for more information.

Safe Harbor Statement The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "explores," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control.


For Further Information Contact:
Steven Cordovano
Lightwave Logic
203-952-6373
steve@lightwavelogic.com


SOURCE Lightwave Logic, Inc.

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To: Zoro99 who wrote (1651)5/16/2012 7:51:40 PM
From: Zoro99
   of 1708
 
Lightwave Logic, Inc. CEO Issues Letter to Shareholders

NEWARK, Del., May 16, 2012 /PRNewswire via COMTEX/ -- Lightwave Logic, Inc. (OTC Bulletin Board: LWLG) a technology company focused on the development of the 'Next Generation Nonlinear Optical Polymer Material Platform' for applications in high speed fiber-optic data communications and optical computing, announces that Tom Zelibor, its Chairman and Chief Executive Officer has sent the following open letter to its shareholders:

Open Letter to Lightwave Logic, Inc. Shareholders

Fellow Shareholders,

I would like to begin by telling you how excited I am to be appointed as the new CEO of Lightwave Logic, Inc. It is an honor and a privilege for me assume this position and I am looking forward to the increased responsibility and the opportunity to make a greater contribution to the success of our Company. We have some impressive technology under development, but there is a great deal of work left to do and I am very anxious to improve the Company's efforts to move us forward.

I would also like to take this opportunity to thank Jim Marcelli, our former CEO, for all of his hard work and years of service in that position. Jim did a very good job getting the Company organized, functioning and financed to the level that we are today. With the capital Jim has been able to secure through private placements, as well as the Lincoln Park Capital purchase agreement, we now have the resources necessary to make the investments required for our future growth.

I want to make sure you all understand that the demands of running the Company were getting increasingly complicated and it had become clear that there was not enough time in the day to manage scientific development, day-to-day administration, financial management and shareholder communications. This generated frustration about the seemingly slow progress we have been making as a company. Now that I am the Chairman and CEO, I will have the opportunity to be engaged full-time in the Company's efforts. In addition, having Jim focus on the operational side of our business will give the Company increased efficiency and help us achieve our commercialization goals more rapidly. This is a huge win for you, our shareholders and as we previously announced, he has taken over the responsibilities as the Company's President and Chief Operating Officer. This change will allow us to operate more effectively as a team and be more proactive, vice reactive.

Finally, I want to thank the Board of Directors for the support I have received over the past several months in the capacity of non-executive Chairman of the Board. We are very fortunate to have such a talented group of professionals to help us on our Board and it is a pleasure to work alongside each and every one of them.

Five Areas of Focus:

1. Control of Critical Functions

I am now in the process of evaluating all the areas of our business that have hindered our operational efficiency. For years now, we have had a strong reliance on Universities to accomplish much of our synthetic chemistry and testing. We have derived some good benefits from these relationships and it was a sound strategy for a company with limited resources. However, having a single reliance on academic institutions for our critical functions is not a viable long-term solution for a company such as ours since by definition, they do not share our same sense of urgency. Going forward, I am going to narrow our reliance on them by actively searching for full-time organic/synthetic chemists, as well as an optical engineer to bring most of this activity inside Lightwave Logic. I want young, hungry professionals that have a strong desire to be a part of something special and willing to put in the time and effort required to achieve our goals. Throughout my career I have never relished the thought of being held hostage by things that are not in my control and I don't intend to start now. We will take control of our own destiny.

2. Product Testing

The next issue that needs redirection is our product testing. As Joe Miller mentioned at last year's annual meeting, testing has always been a hindrance to scientific development. And for us, relying on outside testing entities has magnified the problem. It has severely limited our ability to respond effectively to our potential customers and partners. This is not ideal for us and my intent is to make a concerted effort to obtain our own internal testing capability, hence the search for an optical engineer I mentioned above.

It is important to realize that there can be a lot of variability involved in testing due to theoretical disagreement, along with differences in technical procedures and even human error. At the end of the day, the most valuable test is how a material works in a device. Dr. Fred Leonberger is currently at work in that endeavor. He has recently finished an initial design of a modulator using Perkinamine Indigo(TM) and we are beginning to implement this design in an operational device. Our current schedule targets completion of this prototype modulator later this year -- subject to the successful characterization of our materials both on a stand-alone basis and in a modulator design.

Finally, modern lab facilities and equipment are essential not only to ensure that we can develop and produce repeatable, high quality processes and materials, but just as important, they are critical to the recruitment and retention of the key personnel we need in the Company to help us advance the science we value so much. We have outgrown the start-up nature of our current facilities and we are about to change the culture of our entire organization. To accomplish this goal, we have signed a lease (effective May 1st) for a new laboratory in the Delaware Technology Park and near the University of Delaware. We have begun purchasing the necessary capital equipment to outfit this facility to our specifications and standards. We expect to begin operations there in June. I feel it is imperative to have a tightly linked coupling between chemical synthesis and testing. This move will give us the ability to synthesize and test in the same facility and will help us accelerate our development efforts. Completing these actions convinces me we can dramatically improve how we develop, test and compare results, allowing us to take better advantage of our materials progress up to this point.

3. Commercial Activity

It is also imperative that we have a fully developed and well-publicized strategic vision and business plan. This plan must detail phases of our development as a company, complete with milestones and objectives assigned to individuals in the organization. This has been attempted a few times in our past, but has not been fully accomplished to the expected level or to my satisfaction. To that end, I am looking for an additional Board member with start-up expertise and financial market savvy to give us the additional insight and experience we need to build realistic business expectations and product development strategies that are achievable for a company whose goal is to create sustainable growth.

While there is bona fide commercial interest in our technology, part of the delay we are experiencing reflects some reticence by customers to dive into and be the first to implement organic nonlinear optical polymer materials in their products. That said, one product opportunity that has recently emerged on the path to commercialization is the development of optical limiters using our Third-Order material, Perkinamine NR(TM). An optical limiter is a device that absorbs light in a wide range of frequencies and then limits transmitted light (such as laser energy) to protect sensitive sensors or the human eye from damage. The device can accomplish this at very high rates of speed. As you might expect, some Department of Defense laboratories have made it known that there is a tremendous need for a material with this type of capability. We are pursuing this with the Air Force Research Laboratory, which is conducting tests on our material now. Additionally, our major microelectronics partner has indicated that they are interested in bringing some of our material testing internal to their company, which should enhance our progress with them.

For more detailed information including updates on where we are in the development of our Perkinamine(TM) family of materials, I invite you to review our Form 10-Q that was just released on May 15th. I will continue to inform you of any new developments.

4. Investor Communications

When I took the Chair last fall, I believed strongly that one of our goals should be to improve communications to both our shareholders and to the professional investment community. Other than significantly improving the website, the overall effort to improve our communications did not happen the way I envisioned it and we fell short of my goals. As a result, I am going to make this initiative a priority.

We attempted to improve our communications as economically as possible and kept the process internal. I still feel at our current stage of development we can meet everyone's needs effectively with that strategy, but we must continually work to improve our execution. We will allocate the appropriate level of resources to this very important area to develop a professional, well thought out IR/PR plan and execution is key. If our shareholders and the professional investment community do not have regular, and understandable communications, the predictable response will be indifference and confusion. I am already in the process of working through a clear and concise message that everyone will be able to understand. I also feel strongly that listing on an exchange such as the NASDAQ is necessary to increase access to institutional investors. We are currently investigating the requirements to accomplish that goal. The results of this program, over time, should be an increase in our institutional investor base, and increased opportunities for potential partnerships and acquisitions.

I want to see shareholder value increase as a result of our hard work and results. The objective is to effectively manage long-term shareholder value. Our share price will go up and down as influenced by our successes, challenges and many other factors not under our control. Splitting the duties of CEO and President/COO will allow us to spend more time on the road meeting as many professional investors, registered representatives and retail investors as possible -- getting our story out. I also expect to talk about our technology and its potential uses in conferences, whitepapers, trade journals and other media outlets. We need these programs for obvious reasons and until we really begin this in earnest, no one will know who we are, or what we have accomplished.

5. Leadership

Many factors have to work in concert to be an effective leader who accomplishes the goals and objectives for an organization. For me, the three most important are: responsibility, authority and accountability. Interestingly enough, my previous roles in Lightwave Logic gave me plenty of responsibility and accountability, but did not carry the requisite authority. In my new position, that triangle is now complete; therefore, I will expend considerable energy to complete the items I have outlined above. I consider it a real privilege to have this opportunity and I will take full advantage of it. I look forward to leading the effort to make Lightwave Logic successful. You all have been very patient and loyal and I want you to know that the entire Lightwave Logic team greatly appreciates both your commitment and trust. We are going to work extremely hard to make you proud of your ownership of our exciting young company.

Sincerely,

Tom Zelibor Chairman & CEO, Lightwave Logic, Inc.

"Powered by Lightwave Logic" Lightwave Logic, Inc. is a development stage company that is producing prototype electro-optic demonstration devices and is moving toward commercialization of its high-activity, high-stability organic polymers for applications in electro-optical device markets. Electro-optical devices convert data from electric signals into optical signals for use in high-speed fiber-optic telecommunications systems and optical computers. Please visit the Company's website, http://www.lightwavelogic.com for more information.

Safe Harbor Statement The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "explores," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control.


For Further Information Contact:
Steven Cordovano
Lightwave Logic
203-952-6373
steve@lightwavelogic.com


SOURCE Lightwave Logic, Inc.

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