Cyberlux Corp (CYBL)

[Watson9]

In some ways it was the LED Technology that failed CYBL.
They spent millions to get the rights for "Scattered Photon Extraction" and developing "Hybrid Lighting Technology" with the hopes of licensing it to large OEM manufacturers.
That put them deep into debt with a toxic financier.
Unfortunately the licenses never happened.
The debt was converted to equity and the share price has since been destroyed.
The CEO explained it clearly in his letter from 2011
"For the foreseeable future, the Company will continue to require the issuance of equity as the ongoing means of satisfying this debt settlement.
In effect, this debt repayment will be an ongoing dilutive event and the CYBL share price will
continually reflect the increasing amount of stock outstanding, as more equity is issued to satisfy the payable"