The company is planning to reactivate its previous business activities pursuant to Teaming and Consulting Agreements with Applied Optical Sciences, Inc. ("AOS") and Dr. Stephen W. McCahon, Ph.D. one of the company's founders and owner of AOS who was primarily responsible for development of the Company's existing Intellectual Property portfolio (collectively the "Consultants"). The company owns intellectual property that is integral and necessary for the development of Laser Guided Energy and Direct Discharge Electrical products for military and commercial uses (the "Products") and the Consultants have the facilities and technical knowhow to utilize the company's intellectual property in the development of the Products; and the Parties have agreed to cooperate in the proposal and fulfillment of research and development contracts for branches of the Department of Defense, agencies of the Federal Government and other Defense contractors and in other research and development activities relating to lasers. We intend to develop the next generation of Ultra-Short Pulse Lasers ("USP"). We are preparing for the next stage of LGE development that involves the development of Advanced USP Laser Technologies. These lasers will allow for LGE weapon systems to be mounted on mobile platforms for multiple Anti-Terrorist missions including Counter Measures Against Drones and other Hostile Inbound Objects, Counter-Improvised Explosive Devices ("C-IED"), Vehicle Stopping, and many others. Importantly, the highly advanced USP Laser technologies required for successful LGE deployment leads to many new and unique laser opportunities in both commercial, medical, and military markets.
Our goal is to increase the range and power and to decrease the size weight and cost of ultra-short pulse lasers. We expect to develop very high energy and power scaling ultra-short pulse lasers that have a very broad range of applicability for Department of Defense, commercial and medical applications. We are in discussions with and expect to team with a major Defense Contractor for co-development and manufacture of military products. We will also team with a leading commercial laser technology manufacturer for co-development of commercial products resulting from our research and development efforts.
If the reactivation of our former business is successful we will no longer be a "shell company" but will be classified as a Small Reporting Company until our annual revenues from our reactivated business exceed $100 million and the value of our public share float exceeds $250 million.
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The Pentagon's laser program is getting a big boost in funding this year, as military planners try to turn a long-held dream of science fiction writers into a combat-ready weapon that can swiftly knock down enemy drones, ships or vehicles.
The most recent defense spending bill, passed in December 2016, includes $328 million for developing and procuring "directed energy" weapons in 2017, a 51 percent increase over the previous year. That money will go to building more laser weapons that operate with a beam of concentrated light, as well as microwave and electromagnetic weapons that can knock out electronics or engines on an airplane, or even give enemies a powerful jolt without killing them.
"There is a growing realization on Capitol Hill and the Department of Defense that its time to transition these technologies," said Mark Gunzinger, a senior fellow at the Center for Strategic and Budgetary Assessments, and former deputy assistant secretary of defense under President George W. Bush. "There are some technological challenges, but it's apparent to us that it's a case of inadequate funding. We do believe there are directed energy technologies that are ready to transform now."
-------------------------------------------------------------------------------Future Military Directed Energy Weapon Systems
The Future Military Directed Energy Weapon Systems and the Lethal and Non-lethal DEW market are experiencing an advanced rate of growth due to increasing defense budgets and technological innovation. Defense prime contractors are working in support with military forces to develop effective weapon systems. The changing nature of warfare in the current era and the increasing demand for laser weapons are some of the major reasons driving the directed energy weapons market forward. High Energy Lasers, High Power Microwave and Particle Beam technologies reflect the directed energy weapons market growth generating almost $6 billion in 2015 and forecasted to climb to $24 Billion by 2021. The major factors affecting this is the ever changing nature of warfare and the greater need for precision weapon systems.
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