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That call was awesome! Bintz and Phil Smith contributed the most to it. Bintz is the project manager for the LSS. That alone is enough good new news for me.
I am not happy that I didn't get on the air. I got bumped off 15 minutes into the call and when I dialed back in 211 people were listening.
Sounds like a good question for Tom should he not deliver on the CC.
RJ, why don't you ask that question if you want to hear the answer?
Don't you guys turn into Helen Keller on the CC tomorrow.
Lets hear some requests for loose timelines for basically anything the company is doing.
Also, some clarification on who will mix Indigo with this proprietary host polymer, Lightwave or the LSS? What will result if our formula performs better and vice versa?
A better answer about how many parameters Indigo performed well in. Did it fall short in anyway?
I'll probably ask Tom why they've made no visible effort to attract new investors, why the website isn't utilized properly along with other forms of social media, and what they have planned in the near future to correct this problem.
I thought about this many times. I've concluded that there isn't anything we're missing it's just that progress seems to always take longer than expected.
There certainly is.
How to follow DoD, DARPA, DTRA, NAVY, AirForce, Army, ect. contract awards.
I spent some time on the phone with a nice woman at the DoD trying to find out who bid on that contract I posted up earlier today. After they took my personal info they told me about this website where you can see all the contract awards.
http://www.dodsbir.net/selections/default.htm
It takes 6 months for an award to show up. I thought this might be a useful tool for some of you. I found a few that nLight received.
For the less computer savvy, hit Control F on your key board and search "photonics"
Hopefully the Arena profits I end up with can cover the lifetime of taxes I'll be paying for other peoples healthcare.
It would be great if we could get NSF grant money.
Snez, you might be right. I don't feel strongly about my opinion on that by any means. Shareholders won't know either way.
As far as the wording, your version would state they do in fact know. This might cause more pestering from people in contact with Lightwave staff who follow the company.
Half&Half had a good point that Mickelson would know what the device was for. So I'm not sure I believe that they don't know. Maybe they want us to think they don't know?
There is plenty of info out there about what is a realistic salary for someone in his position. But I can agree to disagree about Tom, he is basically getting the same salary he had doing what he did best. (being an Admiral) I can speak for my own experience though. I worked for a company that did 11 million in business a year, actually making money. The CEO had 30 years experience, made $130,000 and got a $25,000 bonus. He worked 80 hours a week and the company didn't have to fly him to and from an office that he spent maybe 1 day a week at.
Your discounting the options but it is what separates Tom and Jim since their pay is almost identical. So it is not meaningless. No COO is equal to the CEO. And based on his past performance Jim was certainly not as good as Tom has been.
Marcelli doesn't even have a degree, yet gets paid like a Harvard business school grad with 20 years experience.
CC Question #1 Why are we paying such absurd salaries for the management of a pre-revenue company?
Tom and Jim both are over $200,000 a year before all the flight, hotel, rental car, ect. expenses we have to pay. That's half a million a year right there. And Tom gets almost 3/4's of a million in stock options? Ridiculous. That's not considering stock awards.
The accomplishments we've seen have come from the hard work of our science team an Alan Mickelson only. Not Tom, Jim or Steve (who makes more than our CTO.)
Tom couldn't close a merger after spending 8 months on it. The PR's are poorly written and cause confusion, Tom BSed us about Celestech in October only to have us wait 2 months to find out he couldn't even talk to them. Tom doesn't even give us the courtesy of a estimated completion date for the EM/Leonberger device when we're paying EM to do it for us. The staff there can build a modulator in their sleep are not strangers to EO Polymers. They have an idea how long it takes.
Everyone should take this seriously because WE own the company and is US who have and will suffer the dilution which supports this careless spending. The only time between now and August that we'll have to address our concerns is this Thursday. Because you think this stock will go to 7 or 10 or $50 a share is no excuse for letting it be run irresponsibly in the meantime.
Thanks, I was looking forward to that response.
Where's the $2? I'll tell you where it is.
It's lost in the exposure we don't get. The great news we received today doesn't get any reach beyond existing shareholders.
From the 10k: "As of March 27, 2013, we have a total of 51,085,228 shares of common stock outstanding, held by approximately 283 record shareholders."
That's ridiculously low. And I bet that almost everyone on this board has brought in at least 1 or 2 more shareholders on their own. Steve is not only costing us too much in salary but he's totally screwing us out of a fair share price by making no effort to increase exposure.
This "other" stock I own, their PR guy makes a 1/3rd of what Steve does and he's built a Twitter account that has 1100 followers, he keeps it updated with relevant news. The Facebook page is full of activity and he busts his ass to make business, political, and media contacts that will benefit the company and its shareholders. He recently pulled in the ex CEO from Molycorp to this company with a market cap of about $11 million.
Steve has proven himself incapable of doing anything beyond the bare minimum and I hope Tom gets smacked with questions about this on the call. Steve is the equivalent of using soup cans and string when Lightwave needs a megaphone.
I take "they want to use" as they want to test, so we'll wait for those results now I guess. Lightwave is going to be led around by the nose without another big company showing interest in us. Since the results seem very good, and from the sound of the PR resulted in a real meeting I'd say our chances of getting new outside interest are solid.
I sent the PR to Stephan at Cisco.
I'm all for that!
Something on my agenda today is to see I can find out who this contract was awarded to. http://www.zyn.com/sbir/sbres/sttr/dod/navy/navst13a-005.htm Tom said months ago he was aware of it.
That PR was a good save. It did leave me with some questions, as usual. All surrounding the overuse of the word "several."
"Perkinamine Indigo(TM) demonstrated several of the key performance parameters desired by our potential microelectronics customer."
So we did not meet all of the parameters?
Perkinamine Indigo(TM) has several desirable characteristics that give us a competitive advantage.
Question for the CC, did Indigo lack in any respect to a characteristics comparison?
"We are very satisfied with these initial results which were in line with several of our own internal tests. While we remain unaware of the specific application, we do know that Perkinamine Indigo(TM) has passed the first hurdle for many of the requirements. The task at hand for us is to optimize certain engineering aspects by realigning our internal research to work more closely with our potential customer to address this exciting opportunity."
Will not knowing the application inhibit the "realignment" process?
How much does an event like that reflect in gold mining stocks vs a gold etf?
Are both of you trading this on a regular basis or are you stuck holding? I appreciate your steady posts. The price manipulation and waiting for it to turn around is getting old.
Thanks for coming through with that. I like the slide that comes up at 18:29 that says "Intel Confidential" in small print at the bottom. I believe it was the only one marked that way.
With all the grey hair at Lightwave I hope that we don't lose anyone else this year. Unless we have a PR before Thursday Tom must be clueless to have set this up to play out this way.
It is sad he will not live to see the end result of his hard work.
Subsequent Events.
Like X said the other day, this is where you look for something new. I think the only questions Tom avoided by postponing the CC a second time are "how much have we sold to LPC" and "how long can we operate on the cash we have." Good job Tom. I can't wait for Thursday.
NOTE 10 – SUBSEQUENT EVENTS
During January 2013, warrants for 600,000 shares issued in April 2008 at an exercise price of $0.73 and an expiration date of April 2013 were amended to 400,000 shares at an exercise price of $0.73 expiring October 2013 and 200,000 shares were rescinded.
During February, 2013 through March, 2013, the institutional investor under the Company’s May 2011 agreement purchased 911,385 shares of common stock for proceeds of $1,000,000. The Company issued 15,085 shares of common stock as additional commitment fee, valued at $19,550, fair value.
In March 2013, a new employee was granted an option to purchase up to 75,000 shares of common stock at an exercise price of $1.16 per share. Using the Black-Scholes Option Pricing Formula, the options were valued at $81,076, fair value. These options expire in 10 years and 9,375 shares vest quarterly commencing June 1, 2013. The option will be expensed over the vesting terms.
On March 12, 2013, the Company entered into an agreement with EM Photonics to co-develop an advanced telecom modulator.
During March 2013, the warrants issued under the July 2010 private placement memorandum as amended in September 2010, were extended three months with 156,250 warrants expiring on June 30, 2013 and 178,750 warrants expiring on September 8, 2013.
Buz, thanks for cutting that BS off.
Few things caught my eye so far, at the halfway point.
Goetz Sr. is dead pg 60
Tom gets too many options pg 55
Marcelli gets paid too much pg 55
Cash until 4/14 pg 47
Japanese Patent granted 3/19/13 pg 8
Could you answer my questions from post 4272?
Well you got a great price! I'm thinking about doubling down soon. Not that I'm down very much.
You'd think they have to write the whole 10k long hand. It's a existing document where you fill in the blanks.
If it's not out today then it's late again. They can't continue to make that mistake.
Fidelity rates LWLG at an equity risk factor of 1 (the worst rating) The history of late filings and the the CEO being the Chairman are the two first red flags listed. The others being frequent officer changes, and the asset-liability valuation.
I suggest everyone who hasn't watched the shareholders meeting presentation in a while do so to brush up before the conference call. If you don't have time for the whole thing at least listen to first 19 minutes, take some notes.
I'm eager to see how much they've hit up LPC for.
That is dumbest thing I've seen in a while.
More People in Portland
I was checking into the latest conspiracy theory on the message board.
Some of you might remember this from Intel at SPIE http://proceedings.spiedigitallibrary.org/proceeding.aspx?articleid=1668708
Most of those people are in Portland, specifically Bruce Block, Mauro Kobrinsky, Miriam Reshotko, Ricky Tseng, Ibrahim Ban.
Where did you pull that quote from?
Not to be Debbie Downer but I don't think because EM did something for Nvidia at some point in time means that Lightwave is hooked up with them. If Prather thought Lightwave and Nvidia had a chance he would have joined forces and or merged with us months ago.
The best way to watch the Canadian side trade http://www.stockwatch.com/Quote/Detail.aspx
can they release the 10k on a market holiday?
I always tell people tips are for waiters but post it up!
When I read that I thought "that sounds bad."
I look at all the instances that occurred before the material was at a usable purity as irrelevant in indicating what will happen in the future.
It started with someone trying to move a 10k block through, continually dropping their price and pushing us into the high 1.50's. Today's drop is most likely only because of a few people. I'm not worried about it. There is no news that would give anyone a reason to sell, except for the history of the company disappointing shareholders when their hopes are up.