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Lightwave Logic, Inc. Issues Shareholder Update Letter
MarketwiredJanuary 03, 2017
Lightwave Logic, Inc. Issues Shareholder Update Letter
LONGMONT, CO--(Marketwired - January 03, 2017) - The following is a letter to shareholders from Lightwave Logic, Inc. (LWLG) CEO Tom Zelibor.
Fellow Shareholders,
Since 2016 has come to an end, I want to update you on our development efforts and memorialize the tremendous progress we have made over this past year. Building on the momentum we gained in 2015, this year we achieved several milestones that are significant to our progress towards a revenue generating enterprise.
Most importantly, we successfully achieved our goal of developing a working ridge waveguide modulator. As we recently reported in our December 27, 2016 press release, this device exceeded our expectations and will serve as a launch pad for our P2IC™ polymer systems. This successful development effort was the result of careful planning and methodical implementation. I can't say enough about how proud I am of the hard, dedicated work by our materials and device teams.
In the beginning of the year, we demonstrated that our organic polymer materials could withstand greater than 4,000 hours of photochemical stability (in nitrogen). This is a key metric that determines the ultimate ability of our material to function in a commercial environment without degradation.
Once assured of the material's stability, we focused on modulator development. To support our efforts, we secured the services of an optical device expert on a consulting basis, to help us achieve modulator performance suitable for standard fiber communication speeds and applications. We created a very basic ridge waveguide modulator design and successfully guided light through the device. As we reported in our April 11, 2016 press release, we were able to achieve modulation in this structure with the application of a low frequency voltage signal. With those significant achievements behind us, we began the development of a multi-gigabit device. This new device, technically referred to as an intensity modulator, is based on the ridge-waveguide structure we used in our first device and is of a type typically used for telecom operations.
As we very recently reported, in initial testing, this new modulator exhibited >5 GHz bandwidth. This bandwidth means that our modulator can support data rates up to about 10 Gbps (OC-192 standard). This performance exceeds the telecom OC-48 standard (2.5 Gbps) that I promised you during our Annual Shareholder Meeting last spring. This device design is capable of a lot more, and we will now work on optimizing the data rates and other performance parameters for this modulator and will report on those milestones as we complete them.
Because success breeds success, we are beginning to attract several highly talented optical engineering candidates that we are evaluating as key additions to our team.
Financial
On the financial side, we solidified our access to capital by renegotiating our $20MM stock purchase agreement with Lincoln Park Capital Fund LLC. As you saw from our recently filed Form 10Q, we have sufficient operating capital through June 2017 which ensures we can continue prototype development with the added assurance that if we need additional capital to accelerate our efforts, it is available to us.
Marketing
Our marketing and communications efforts have continued to expose Lightwave Logic to a much broader audience. The Company made two significant presentations to important industry audiences that showcased the promise of Polymer Photonic Integrated Circuits (P2IC™). In March, Dr. Michael Lebby presented at the PIC (Photonic Integrated Circuit) International Conference in Brussels, Belgium and in September, we were selected to present at the ECOC (European Conference and Exhibition on Optical Communications) in Dusseldorf, Germany. These presentations created both awareness and anticipation for the emergence of organic polymers as a key component of integrated circuits. As a result, we have received many inquiries that we are pursuing and will continue to pursue in 2017 by providing operating data and information from our prototype modulators, once testing is complete and data is obtained.
Intellectual Property
Our intellectual property portfolio has expanded significantly over the last year. To date we have 13 granted patents that include 4 from the US, 1 from Canada, 5 from the EU, 2 from Japan and 1 from China. This is very good for the company since it provides protection for our core Perkinamine molecular compounds. We are now looking at some very powerful patents for future device technologies as our current development efforts have uncovered some enormous opportunities that appear to be unique to the market, powered by our materials.
Team Lightwave
The company has been a beehive of activity as we focus on coordinating the numerous development activities necessary to achieve our goal of a working modulator. As we have shown you in the past, there are many milestones -- or steps along the way, that must be accomplished to achieve this goal. None of them are trivial, but all of them were achievable.
The materials team in our Delaware laboratory facility continues to synthesize and optimize our existing, as well as several new material candidates to optimize the performance of current and future prototype and commercial devices. Closely coupled to this work on core materials is an investigation of cladding materials that encapsulate the core layer for optimization of the overall modulator structure.
To illustrate this, it is important to understand that when we reported our initial modulation results last spring, testing was done on a straight ridge waveguide modulator structure consisting of a 3-layer polymer stack with an upper and lower electrode (see attached figure). As we developed our multi-Gb operational prototype, the waveguide circuit and electrodes are more complex requiring optimization of the overall 3-layer stack. These are engineering and processing hurdles, which took some time, but were not insurmountable. As I reported above, we made great progress in these areas and recently achieved a working prototype. We have added a goal of also developing a scalable manufacturing process.
Overall, device team progress is proceeding extremely well in our Longmont, Colorado facility and as I have mentioned, we are now at the point where we need to secure additional skill sets to better support further development efforts.
The coordination of our combined efforts has had much to do with our success. The materials team supports the device design requirements while our testing team oversees and verifies results. This allows a feedback mechanism where the device team reports back to the materials team to drive subsequent iterations of materials that yield desired results.
We are looking to bring in-house more specific skillsets in materials engineering and in device testing and fabrication as well as people to orchestrate these activities. As part of his role on the Operations Committee, Dr. Michael Lebby is currently playing a leadership role on an interim basis until we fill the position.
Telecom and Datacom Modulator Development
We have previously communicated to you our original intention to develop the ridge waveguide modulator merely as a test device to prove that our advanced organic polymer systems can meet commercial specifications and to demonstrate that they can hold up to the rigors of an operating environment. However, we have observed some unique aspects of the prototype that make us believe we might be able to modify our design to address commercial needs not only in telecommunications, but other applications and markets such as datacommunications and datacenters as well. We will also keep you posted on this progress as the program matures.
2017 -- and Beyond
We are well aware that some of our shareholders think our product development process is taking a long time to complete. However, it is consistent with the milestones that we had previously laid out. Also important for you to know that we are now attracting world-class engineers, and together with the active role of our senior technical advisor, Dr. Fred Leonberger and in concert with the technical link Dr. Michael Lebby is providing, we are confident our team will strengthen quickly as we move into 2017. We are breaking new ground for the company and in many respects, have made significant progress in the transition from a purely materials development company to a device development company. While this transition has lengthened the timetable, the good news is that the degree of difficulty required to master both the material and device challenges in competing materials, will forestall possible commoditization of P2IC™ for a long time. Thus, we anticipate excellent product opportunities that will yield above-average sales margins for a long time.
Over the next several months we will be compiling a detailed device specifications sheet to present to several interested parties. To refresh your memory, our objective here is to attract an industry partner with the synergistic capabilities necessary to help develop future products that are in various stages of design such as a slot waveguide modulator and ultimately our integrated fiber optic polymer-based transceiver.
We believe that 2017 will be the year where we begin to harvest the many technological successes that we have achieved and will continue to achieve. We are starting off with outstanding results and have learned much about the intricacies of implementing our organic polymer systems into devices. This knowledge base will accelerate our progress going forward.
Thank you,
Tom Zelibor
Chairman and CEO
https://finance.yahoo.com/news/lightwave-logic-inc-issues-shareholder-150643918.html
I find it interesting that they only tapped LPC for an additional 500k (warrant exercises?) since 3/31/17, with the price per share doing so well I would have guessed they would have tapped for more monies (in shares sales)?? or are the warrant exercises unrelated to LPC ??
Now if they really have not tapped LPC for stock sales since 3/31/17, I would think that may be a strong signal that another source of funding is in the works (partner/NRE)?
NOTE 2 – MANAGEMENT’S PLANS
As a technology company focusing on the development of the next generation photonic devices and non-linear optical polymer materials systems, substantial net losses have been incurred since inception. The Company has satisfied capital requirements since inception primarily through the issuance and sale of its common stock. The Company currently has a cash position of approximately $2,300,000. Based upon the current cash position and expenditures of approximately $330,000 per month and no debt service, management believes the Company has sufficient funds to finance its operations through October 2017. In January 2016, the Company signed a purchase agreement (“Purchase Agreement”) with an institutional investor to sell up to $20,000,000 of common stock. A registration statement related to the transaction filed with the U.S. Securities and Exchange Commission registering 5,000,000 shares of the Company’s common stock went effective on April 7, 2016. Under the Purchase Agreement and at Company's sole discretion, the institutional investor has committed to invest up to $20,000,000 in common stock over a 36-month period. The Company has raised $2,625,350 as of March 31, 2017. Since April 1, 2017, the Company has raised an additional $502,500 through the exercise of warrants.
The highest I bought some shares was in 2009 at 2.16, I think that might have been when Terry Turpin had the 100 modulators, anyone recall?
the problem back then was that the materials were inconsistent, only small batches were being made, and the purity and consistency wasn't that great yet, we've come a long way from those days
my first purchase in 2006 was at .80, not far off my overall average still today
I bought in 2006, I think a few here were from 2005, not much before that, not sure when the original PP was issued for .17?
Lightwave Logic, Inc. Issues Shareholder Update Letter
MarketwiredJanuary 03, 2017
Lightwave Logic, Inc. Issues Shareholder Update Letter
LONGMONT, CO--(Marketwired - January 03, 2017) - The following is a letter to shareholders from Lightwave Logic, Inc. (LWLG) CEO Tom Zelibor.
Fellow Shareholders,
Since 2016 has come to an end, I want to update you on our development efforts and memorialize the tremendous progress we have made over this past year. Building on the momentum we gained in 2015, this year we achieved several milestones that are significant to our progress towards a revenue generating enterprise.
Most importantly, we successfully achieved our goal of developing a working ridge waveguide modulator. As we recently reported in our December 27, 2016 press release, this device exceeded our expectations and will serve as a launch pad for our P2IC™ polymer systems. This successful development effort was the result of careful planning and methodical implementation. I can't say enough about how proud I am of the hard, dedicated work by our materials and device teams.
In the beginning of the year, we demonstrated that our organic polymer materials could withstand greater than 4,000 hours of photochemical stability (in nitrogen). This is a key metric that determines the ultimate ability of our material to function in a commercial environment without degradation.
Once assured of the material's stability, we focused on modulator development. To support our efforts, we secured the services of an optical device expert on a consulting basis, to help us achieve modulator performance suitable for standard fiber communication speeds and applications. We created a very basic ridge waveguide modulator design and successfully guided light through the device. As we reported in our April 11, 2016 press release, we were able to achieve modulation in this structure with the application of a low frequency voltage signal. With those significant achievements behind us, we began the development of a multi-gigabit device. This new device, technically referred to as an intensity modulator, is based on the ridge-waveguide structure we used in our first device and is of a type typically used for telecom operations.
As we very recently reported, in initial testing, this new modulator exhibited >5 GHz bandwidth. This bandwidth means that our modulator can support data rates up to about 10 Gbps (OC-192 standard). This performance exceeds the telecom OC-48 standard (2.5 Gbps) that I promised you during our Annual Shareholder Meeting last spring. This device design is capable of a lot more, and we will now work on optimizing the data rates and other performance parameters for this modulator and will report on those milestones as we complete them.
Because success breeds success, we are beginning to attract several highly talented optical engineering candidates that we are evaluating as key additions to our team.
Financial
On the financial side, we solidified our access to capital by renegotiating our $20MM stock purchase agreement with Lincoln Park Capital Fund LLC. As you saw from our recently filed Form 10Q, we have sufficient operating capital through June 2017 which ensures we can continue prototype development with the added assurance that if we need additional capital to accelerate our efforts, it is available to us.
Marketing
Our marketing and communications efforts have continued to expose Lightwave Logic to a much broader audience. The Company made two significant presentations to important industry audiences that showcased the promise of Polymer Photonic Integrated Circuits (P2IC™). In March, Dr. Michael Lebby presented at the PIC (Photonic Integrated Circuit) International Conference in Brussels, Belgium and in September, we were selected to present at the ECOC (European Conference and Exhibition on Optical Communications) in Dusseldorf, Germany. These presentations created both awareness and anticipation for the emergence of organic polymers as a key component of integrated circuits. As a result, we have received many inquiries that we are pursuing and will continue to pursue in 2017 by providing operating data and information from our prototype modulators, once testing is complete and data is obtained.
Intellectual Property
Our intellectual property portfolio has expanded significantly over the last year. To date we have 13 granted patents that include 4 from the US, 1 from Canada, 5 from the EU, 2 from Japan and 1 from China. This is very good for the company since it provides protection for our core Perkinamine molecular compounds. We are now looking at some very powerful patents for future device technologies as our current development efforts have uncovered some enormous opportunities that appear to be unique to the market, powered by our materials.
Team Lightwave
The company has been a beehive of activity as we focus on coordinating the numerous development activities necessary to achieve our goal of a working modulator. As we have shown you in the past, there are many milestones -- or steps along the way, that must be accomplished to achieve this goal. None of them are trivial, but all of them were achievable.
The materials team in our Delaware laboratory facility continues to synthesize and optimize our existing, as well as several new material candidates to optimize the performance of current and future prototype and commercial devices. Closely coupled to this work on core materials is an investigation of cladding materials that encapsulate the core layer for optimization of the overall modulator structure.
To illustrate this, it is important to understand that when we reported our initial modulation results last spring, testing was done on a straight ridge waveguide modulator structure consisting of a 3-layer polymer stack with an upper and lower electrode (see attached figure). As we developed our multi-Gb operational prototype, the waveguide circuit and electrodes are more complex requiring optimization of the overall 3-layer stack. These are engineering and processing hurdles, which took some time, but were not insurmountable. As I reported above, we made great progress in these areas and recently achieved a working prototype. We have added a goal of also developing a scalable manufacturing process.
Overall, device team progress is proceeding extremely well in our Longmont, Colorado facility and as I have mentioned, we are now at the point where we need to secure additional skill sets to better support further development efforts.
The coordination of our combined efforts has had much to do with our success. The materials team supports the device design requirements while our testing team oversees and verifies results. This allows a feedback mechanism where the device team reports back to the materials team to drive subsequent iterations of materials that yield desired results.
We are looking to bring in-house more specific skillsets in materials engineering and in device testing and fabrication as well as people to orchestrate these activities. As part of his role on the Operations Committee, Dr. Michael Lebby is currently playing a leadership role on an interim basis until we fill the position.
Telecom and Datacom Modulator Development
We have previously communicated to you our original intention to develop the ridge waveguide modulator merely as a test device to prove that our advanced organic polymer systems can meet commercial specifications and to demonstrate that they can hold up to the rigors of an operating environment. However, we have observed some unique aspects of the prototype that make us believe we might be able to modify our design to address commercial needs not only in telecommunications, but other applications and markets such as datacommunications and datacenters as well. We will also keep you posted on this progress as the program matures.
2017 -- and Beyond
We are well aware that some of our shareholders think our product development process is taking a long time to complete. However, it is consistent with the milestones that we had previously laid out. Also important for you to know that we are now attracting world-class engineers, and together with the active role of our senior technical advisor, Dr. Fred Leonberger and in concert with the technical link Dr. Michael Lebby is providing, we are confident our team will strengthen quickly as we move into 2017. We are breaking new ground for the company and in many respects, have made significant progress in the transition from a purely materials development company to a device development company. While this transition has lengthened the timetable, the good news is that the degree of difficulty required to master both the material and device challenges in competing materials, will forestall possible commoditization of P2IC™ for a long time. Thus, we anticipate excellent product opportunities that will yield above-average sales margins for a long time.
Over the next several months we will be compiling a detailed device specifications sheet to present to several interested parties. To refresh your memory, our objective here is to attract an industry partner with the synergistic capabilities necessary to help develop future products that are in various stages of design such as a slot waveguide modulator and ultimately our integrated fiber optic polymer-based transceiver.
We believe that 2017 will be the year where we begin to harvest the many technological successes that we have achieved and will continue to achieve. We are starting off with outstanding results and have learned much about the intricacies of implementing our organic polymer systems into devices. This knowledge base will accelerate our progress going forward.
Thank you,
Tom Zelibor
Chairman and CEO
https://finance.yahoo.com/news/lightwave-logic-inc-issues-shareholder-150643918.html
precisely why the 2017 Open Letter needs to replace sticky #17665 ASAP, so most pertinent info stays on top for newbies!
ProfitScout are you on this?
mc67's Advice: The wise don't need it and the fools don't heed it.
I love it, that is when it comes board invasion TIME, which is inevitable now!!
Buz, thanks I appreciate that, the timing for having that sticky replaced is highly critical imo, the message board volume will swell, and the important stuff needs to be right there on top, sticky's do that, and the 2017 Open Letter is top notch info for the newbies!!
buzzard already replied to ProfitScout 3 days ago that he would do it, he was on the message board all weekend posting unrelated garbage posts, he has been a total jerk for a number of years on this message board, he was wrong 10 years ago as head cheerleader even before the "spacer" was designed, and even before a single patent was issued, and guess what, he is wrong again now after being the snarky jerk poster here for a number of years
yup, ole proto was right 10 years ago, and ole proto is right again now
if the buzzard can't act on behalf of investors here now, he should be removed as a moderator, and replaced by someone who will act appropriately in that role
Lightwave Logic, Inc. Issues Shareholder Update Letter
MarketwiredJanuary 03, 2017
Lightwave Logic, Inc. Issues Shareholder Update Letter
LONGMONT, CO--(Marketwired - January 03, 2017) - The following is a letter to shareholders from Lightwave Logic, Inc. (LWLG) CEO Tom Zelibor.
Fellow Shareholders,
Since 2016 has come to an end, I want to update you on our development efforts and memorialize the tremendous progress we have made over this past year. Building on the momentum we gained in 2015, this year we achieved several milestones that are significant to our progress towards a revenue generating enterprise.
Most importantly, we successfully achieved our goal of developing a working ridge waveguide modulator. As we recently reported in our December 27, 2016 press release, this device exceeded our expectations and will serve as a launch pad for our P2IC™ polymer systems. This successful development effort was the result of careful planning and methodical implementation. I can't say enough about how proud I am of the hard, dedicated work by our materials and device teams.
In the beginning of the year, we demonstrated that our organic polymer materials could withstand greater than 4,000 hours of photochemical stability (in nitrogen). This is a key metric that determines the ultimate ability of our material to function in a commercial environment without degradation.
Once assured of the material's stability, we focused on modulator development. To support our efforts, we secured the services of an optical device expert on a consulting basis, to help us achieve modulator performance suitable for standard fiber communication speeds and applications. We created a very basic ridge waveguide modulator design and successfully guided light through the device. As we reported in our April 11, 2016 press release, we were able to achieve modulation in this structure with the application of a low frequency voltage signal. With those significant achievements behind us, we began the development of a multi-gigabit device. This new device, technically referred to as an intensity modulator, is based on the ridge-waveguide structure we used in our first device and is of a type typically used for telecom operations.
As we very recently reported, in initial testing, this new modulator exhibited >5 GHz bandwidth. This bandwidth means that our modulator can support data rates up to about 10 Gbps (OC-192 standard). This performance exceeds the telecom OC-48 standard (2.5 Gbps) that I promised you during our Annual Shareholder Meeting last spring. This device design is capable of a lot more, and we will now work on optimizing the data rates and other performance parameters for this modulator and will report on those milestones as we complete them.
Because success breeds success, we are beginning to attract several highly talented optical engineering candidates that we are evaluating as key additions to our team.
Financial
On the financial side, we solidified our access to capital by renegotiating our $20MM stock purchase agreement with Lincoln Park Capital Fund LLC. As you saw from our recently filed Form 10Q, we have sufficient operating capital through June 2017 which ensures we can continue prototype development with the added assurance that if we need additional capital to accelerate our efforts, it is available to us.
Marketing
Our marketing and communications efforts have continued to expose Lightwave Logic to a much broader audience. The Company made two significant presentations to important industry audiences that showcased the promise of Polymer Photonic Integrated Circuits (P2IC™). In March, Dr. Michael Lebby presented at the PIC (Photonic Integrated Circuit) International Conference in Brussels, Belgium and in September, we were selected to present at the ECOC (European Conference and Exhibition on Optical Communications) in Dusseldorf, Germany. These presentations created both awareness and anticipation for the emergence of organic polymers as a key component of integrated circuits. As a result, we have received many inquiries that we are pursuing and will continue to pursue in 2017 by providing operating data and information from our prototype modulators, once testing is complete and data is obtained.
Intellectual Property
Our intellectual property portfolio has expanded significantly over the last year. To date we have 13 granted patents that include 4 from the US, 1 from Canada, 5 from the EU, 2 from Japan and 1 from China. This is very good for the company since it provides protection for our core Perkinamine molecular compounds. We are now looking at some very powerful patents for future device technologies as our current development efforts have uncovered some enormous opportunities that appear to be unique to the market, powered by our materials.
Team Lightwave
The company has been a beehive of activity as we focus on coordinating the numerous development activities necessary to achieve our goal of a working modulator. As we have shown you in the past, there are many milestones -- or steps along the way, that must be accomplished to achieve this goal. None of them are trivial, but all of them were achievable.
The materials team in our Delaware laboratory facility continues to synthesize and optimize our existing, as well as several new material candidates to optimize the performance of current and future prototype and commercial devices. Closely coupled to this work on core materials is an investigation of cladding materials that encapsulate the core layer for optimization of the overall modulator structure.
To illustrate this, it is important to understand that when we reported our initial modulation results last spring, testing was done on a straight ridge waveguide modulator structure consisting of a 3-layer polymer stack with an upper and lower electrode (see attached figure). As we developed our multi-Gb operational prototype, the waveguide circuit and electrodes are more complex requiring optimization of the overall 3-layer stack. These are engineering and processing hurdles, which took some time, but were not insurmountable. As I reported above, we made great progress in these areas and recently achieved a working prototype. We have added a goal of also developing a scalable manufacturing process.
Overall, device team progress is proceeding extremely well in our Longmont, Colorado facility and as I have mentioned, we are now at the point where we need to secure additional skill sets to better support further development efforts.
The coordination of our combined efforts has had much to do with our success. The materials team supports the device design requirements while our testing team oversees and verifies results. This allows a feedback mechanism where the device team reports back to the materials team to drive subsequent iterations of materials that yield desired results.
We are looking to bring in-house more specific skillsets in materials engineering and in device testing and fabrication as well as people to orchestrate these activities. As part of his role on the Operations Committee, Dr. Michael Lebby is currently playing a leadership role on an interim basis until we fill the position.
Telecom and Datacom Modulator Development
We have previously communicated to you our original intention to develop the ridge waveguide modulator merely as a test device to prove that our advanced organic polymer systems can meet commercial specifications and to demonstrate that they can hold up to the rigors of an operating environment. However, we have observed some unique aspects of the prototype that make us believe we might be able to modify our design to address commercial needs not only in telecommunications, but other applications and markets such as datacommunications and datacenters as well. We will also keep you posted on this progress as the program matures.
2017 -- and Beyond
We are well aware that some of our shareholders think our product development process is taking a long time to complete. However, it is consistent with the milestones that we had previously laid out. Also important for you to know that we are now attracting world-class engineers, and together with the active role of our senior technical advisor, Dr. Fred Leonberger and in concert with the technical link Dr. Michael Lebby is providing, we are confident our team will strengthen quickly as we move into 2017. We are breaking new ground for the company and in many respects, have made significant progress in the transition from a purely materials development company to a device development company. While this transition has lengthened the timetable, the good news is that the degree of difficulty required to master both the material and device challenges in competing materials, will forestall possible commoditization of P2IC™ for a long time. Thus, we anticipate excellent product opportunities that will yield above-average sales margins for a long time.
Over the next several months we will be compiling a detailed device specifications sheet to present to several interested parties. To refresh your memory, our objective here is to attract an industry partner with the synergistic capabilities necessary to help develop future products that are in various stages of design such as a slot waveguide modulator and ultimately our integrated fiber optic polymer-based transceiver.
We believe that 2017 will be the year where we begin to harvest the many technological successes that we have achieved and will continue to achieve. We are starting off with outstanding results and have learned much about the intricacies of implementing our organic polymer systems into devices. This knowledge base will accelerate our progress going forward.
Thank you,
Tom Zelibor
Chairman and CEO
https://finance.yahoo.com/news/lightwave-logic-inc-issues-shareholder-150643918.html
ProfitScout, please get a moderator capable of replacing sticky #17665 as it is ancient history and not indicative in the least of where the company is currently!!!
Please get the new moderator to put up the latest Open Letter of 2017 !!!
LWLG is on the Breakout Boards, the number of Followers is rising, and we need to present the current information to them!!!
THANKS !!!
Lightwave Logic, Inc. Issues Shareholder Update Letter
MarketwiredJanuary 03, 2017
Lightwave Logic, Inc. Issues Shareholder Update Letter
LONGMONT, CO--(Marketwired - January 03, 2017) - The following is a letter to shareholders from Lightwave Logic, Inc. (LWLG) CEO Tom Zelibor.
Fellow Shareholders,
Since 2016 has come to an end, I want to update you on our development efforts and memorialize the tremendous progress we have made over this past year. Building on the momentum we gained in 2015, this year we achieved several milestones that are significant to our progress towards a revenue generating enterprise.
Most importantly, we successfully achieved our goal of developing a working ridge waveguide modulator. As we recently reported in our December 27, 2016 press release, this device exceeded our expectations and will serve as a launch pad for our P2IC™ polymer systems. This successful development effort was the result of careful planning and methodical implementation. I can't say enough about how proud I am of the hard, dedicated work by our materials and device teams.
In the beginning of the year, we demonstrated that our organic polymer materials could withstand greater than 4,000 hours of photochemical stability (in nitrogen). This is a key metric that determines the ultimate ability of our material to function in a commercial environment without degradation.
Once assured of the material's stability, we focused on modulator development. To support our efforts, we secured the services of an optical device expert on a consulting basis, to help us achieve modulator performance suitable for standard fiber communication speeds and applications. We created a very basic ridge waveguide modulator design and successfully guided light through the device. As we reported in our April 11, 2016 press release, we were able to achieve modulation in this structure with the application of a low frequency voltage signal. With those significant achievements behind us, we began the development of a multi-gigabit device. This new device, technically referred to as an intensity modulator, is based on the ridge-waveguide structure we used in our first device and is of a type typically used for telecom operations.
As we very recently reported, in initial testing, this new modulator exhibited >5 GHz bandwidth. This bandwidth means that our modulator can support data rates up to about 10 Gbps (OC-192 standard). This performance exceeds the telecom OC-48 standard (2.5 Gbps) that I promised you during our Annual Shareholder Meeting last spring. This device design is capable of a lot more, and we will now work on optimizing the data rates and other performance parameters for this modulator and will report on those milestones as we complete them.
Because success breeds success, we are beginning to attract several highly talented optical engineering candidates that we are evaluating as key additions to our team.
Financial
On the financial side, we solidified our access to capital by renegotiating our $20MM stock purchase agreement with Lincoln Park Capital Fund LLC. As you saw from our recently filed Form 10Q, we have sufficient operating capital through June 2017 which ensures we can continue prototype development with the added assurance that if we need additional capital to accelerate our efforts, it is available to us.
Marketing
Our marketing and communications efforts have continued to expose Lightwave Logic to a much broader audience. The Company made two significant presentations to important industry audiences that showcased the promise of Polymer Photonic Integrated Circuits (P2IC™). In March, Dr. Michael Lebby presented at the PIC (Photonic Integrated Circuit) International Conference in Brussels, Belgium and in September, we were selected to present at the ECOC (European Conference and Exhibition on Optical Communications) in Dusseldorf, Germany. These presentations created both awareness and anticipation for the emergence of organic polymers as a key component of integrated circuits. As a result, we have received many inquiries that we are pursuing and will continue to pursue in 2017 by providing operating data and information from our prototype modulators, once testing is complete and data is obtained.
Intellectual Property
Our intellectual property portfolio has expanded significantly over the last year. To date we have 13 granted patents that include 4 from the US, 1 from Canada, 5 from the EU, 2 from Japan and 1 from China. This is very good for the company since it provides protection for our core Perkinamine molecular compounds. We are now looking at some very powerful patents for future device technologies as our current development efforts have uncovered some enormous opportunities that appear to be unique to the market, powered by our materials.
Team Lightwave
The company has been a beehive of activity as we focus on coordinating the numerous development activities necessary to achieve our goal of a working modulator. As we have shown you in the past, there are many milestones -- or steps along the way, that must be accomplished to achieve this goal. None of them are trivial, but all of them were achievable.
The materials team in our Delaware laboratory facility continues to synthesize and optimize our existing, as well as several new material candidates to optimize the performance of current and future prototype and commercial devices. Closely coupled to this work on core materials is an investigation of cladding materials that encapsulate the core layer for optimization of the overall modulator structure.
To illustrate this, it is important to understand that when we reported our initial modulation results last spring, testing was done on a straight ridge waveguide modulator structure consisting of a 3-layer polymer stack with an upper and lower electrode (see attached figure). As we developed our multi-Gb operational prototype, the waveguide circuit and electrodes are more complex requiring optimization of the overall 3-layer stack. These are engineering and processing hurdles, which took some time, but were not insurmountable. As I reported above, we made great progress in these areas and recently achieved a working prototype. We have added a goal of also developing a scalable manufacturing process.
Overall, device team progress is proceeding extremely well in our Longmont, Colorado facility and as I have mentioned, we are now at the point where we need to secure additional skill sets to better support further development efforts.
The coordination of our combined efforts has had much to do with our success. The materials team supports the device design requirements while our testing team oversees and verifies results. This allows a feedback mechanism where the device team reports back to the materials team to drive subsequent iterations of materials that yield desired results.
We are looking to bring in-house more specific skillsets in materials engineering and in device testing and fabrication as well as people to orchestrate these activities. As part of his role on the Operations Committee, Dr. Michael Lebby is currently playing a leadership role on an interim basis until we fill the position.
Telecom and Datacom Modulator Development
We have previously communicated to you our original intention to develop the ridge waveguide modulator merely as a test device to prove that our advanced organic polymer systems can meet commercial specifications and to demonstrate that they can hold up to the rigors of an operating environment. However, we have observed some unique aspects of the prototype that make us believe we might be able to modify our design to address commercial needs not only in telecommunications, but other applications and markets such as datacommunications and datacenters as well. We will also keep you posted on this progress as the program matures.
2017 -- and Beyond
We are well aware that some of our shareholders think our product development process is taking a long time to complete. However, it is consistent with the milestones that we had previously laid out. Also important for you to know that we are now attracting world-class engineers, and together with the active role of our senior technical advisor, Dr. Fred Leonberger and in concert with the technical link Dr. Michael Lebby is providing, we are confident our team will strengthen quickly as we move into 2017. We are breaking new ground for the company and in many respects, have made significant progress in the transition from a purely materials development company to a device development company. While this transition has lengthened the timetable, the good news is that the degree of difficulty required to master both the material and device challenges in competing materials, will forestall possible commoditization of P2IC™ for a long time. Thus, we anticipate excellent product opportunities that will yield above-average sales margins for a long time.
Over the next several months we will be compiling a detailed device specifications sheet to present to several interested parties. To refresh your memory, our objective here is to attract an industry partner with the synergistic capabilities necessary to help develop future products that are in various stages of design such as a slot waveguide modulator and ultimately our integrated fiber optic polymer-based transceiver.
We believe that 2017 will be the year where we begin to harvest the many technological successes that we have achieved and will continue to achieve. We are starting off with outstanding results and have learned much about the intricacies of implementing our organic polymer systems into devices. This knowledge base will accelerate our progress going forward.
Thank you,
Tom Zelibor
Chairman and CEO
https://finance.yahoo.com/news/lightwave-logic-inc-issues-shareholder-150643918.html
mc67 precisely why the 2017 Open Letter should be at the top for all new eyeballs to read!! ProfitScout, I will re-post the 2017 Open Letter again as we are approaching 48 hours since my request, perhaps it is TIME to delete/replace buzz from moderator duties
3rd REQUEST >> buzz, if you could please come up out of the mine long enough to dust yourself off and get to your laptop and please replace post #17665, the 2015 open letter sticky with post #24223, which contains the 2017 open letter , tia buzz & profitscout
fyi - there are many new eyeballs here now! please do this update asap!!!
I received this private message after posting the 2017 open letter with post #24223 >
Thank you for posting this...I was wondering this morning what durability the polymer was rated at because of the industry standards. I was also thinking that LWLG should be getting orders for this product soon, especially in places overseas that are upgrading their fiber optics.
THANKS IN ADVANCE FOR YOUR COOPERATION BUZZ
buzz, if you could please come up out of the mine long enough to dust yourself off and get to your laptop and please replace post #17665, the 2015 open letter sticky with post #24223, which contains the 2017 open letter , tia buzz & profitscout
fyi - there are many new eyeballs here now! please do this update asap!!!
I received this private message after posting the 2017 open letter with post #24223 >
Thank you for posting this...I was wondering this morning what durability the polymer was rated at because of the industry standards. I was also thinking that LWLG should be getting orders for this product soon, especially in places overseas that are upgrading their fiber optics.
THANKS IN ADVANCE FOR YOUR COOPERATION BUZZ
So when should potential new investors buy shares?
Should they wait for a pullback to $1.00 or should they pay the piper now at 1.65, which is a market cap just north of $100 Mil?
recently I posted this, and I stand by it today >>
once they drop the 25Gbs beta-proto I think the buyout ticket moves from $3-$4 per share it would take today, to the $7-$14 per share range (valuation range there being approx. $500M to $1B),this is why I think the stock will likely take out the 3.33 highs of 2012 and perhaps trade in the $3-$5 range for some time , personally I would still love to see us finance our own growth through license and royalty agreements
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=130788891
Bob, congrats on the .17ers, even if it was 12+ years ago, as I was pointing out to certain kooky types here, if an investor had $10,000 to invest >
Investor (Bob) at .17 got 58,823 shares
Investor after 10Gbs at .60 got 16,667 shares
Investor after Dr Lebby pr at .80 got 12,500 shares
Investor right now at 1.67 got 5,988 shares
Investor after Beta-proto & 3rd parties 2,000 shares (?)
ok buzz, please replace post #17665, the 2015 open letter sticky with post #24223, which contains the 2017 open letter , tia buzz & profitscout
Lightwave Logic, Inc. Issues Shareholder Update Letter
MarketwiredJanuary 03, 2017
Lightwave Logic, Inc. Issues Shareholder Update Letter
LONGMONT, CO--(Marketwired - January 03, 2017) - The following is a letter to shareholders from Lightwave Logic, Inc. (LWLG) CEO Tom Zelibor.
Fellow Shareholders,
Since 2016 has come to an end, I want to update you on our development efforts and memorialize the tremendous progress we have made over this past year. Building on the momentum we gained in 2015, this year we achieved several milestones that are significant to our progress towards a revenue generating enterprise.
Most importantly, we successfully achieved our goal of developing a working ridge waveguide modulator. As we recently reported in our December 27, 2016 press release, this device exceeded our expectations and will serve as a launch pad for our P2IC™ polymer systems. This successful development effort was the result of careful planning and methodical implementation. I can't say enough about how proud I am of the hard, dedicated work by our materials and device teams.
In the beginning of the year, we demonstrated that our organic polymer materials could withstand greater than 4,000 hours of photochemical stability (in nitrogen). This is a key metric that determines the ultimate ability of our material to function in a commercial environment without degradation.
Once assured of the material's stability, we focused on modulator development. To support our efforts, we secured the services of an optical device expert on a consulting basis, to help us achieve modulator performance suitable for standard fiber communication speeds and applications. We created a very basic ridge waveguide modulator design and successfully guided light through the device. As we reported in our April 11, 2016 press release, we were able to achieve modulation in this structure with the application of a low frequency voltage signal. With those significant achievements behind us, we began the development of a multi-gigabit device. This new device, technically referred to as an intensity modulator, is based on the ridge-waveguide structure we used in our first device and is of a type typically used for telecom operations.
As we very recently reported, in initial testing, this new modulator exhibited >5 GHz bandwidth. This bandwidth means that our modulator can support data rates up to about 10 Gbps (OC-192 standard). This performance exceeds the telecom OC-48 standard (2.5 Gbps) that I promised you during our Annual Shareholder Meeting last spring. This device design is capable of a lot more, and we will now work on optimizing the data rates and other performance parameters for this modulator and will report on those milestones as we complete them.
Because success breeds success, we are beginning to attract several highly talented optical engineering candidates that we are evaluating as key additions to our team.
Financial
On the financial side, we solidified our access to capital by renegotiating our $20MM stock purchase agreement with Lincoln Park Capital Fund LLC. As you saw from our recently filed Form 10Q, we have sufficient operating capital through June 2017 which ensures we can continue prototype development with the added assurance that if we need additional capital to accelerate our efforts, it is available to us.
Marketing
Our marketing and communications efforts have continued to expose Lightwave Logic to a much broader audience. The Company made two significant presentations to important industry audiences that showcased the promise of Polymer Photonic Integrated Circuits (P2IC™). In March, Dr. Michael Lebby presented at the PIC (Photonic Integrated Circuit) International Conference in Brussels, Belgium and in September, we were selected to present at the ECOC (European Conference and Exhibition on Optical Communications) in Dusseldorf, Germany. These presentations created both awareness and anticipation for the emergence of organic polymers as a key component of integrated circuits. As a result, we have received many inquiries that we are pursuing and will continue to pursue in 2017 by providing operating data and information from our prototype modulators, once testing is complete and data is obtained.
Intellectual Property
Our intellectual property portfolio has expanded significantly over the last year. To date we have 13 granted patents that include 4 from the US, 1 from Canada, 5 from the EU, 2 from Japan and 1 from China. This is very good for the company since it provides protection for our core Perkinamine molecular compounds. We are now looking at some very powerful patents for future device technologies as our current development efforts have uncovered some enormous opportunities that appear to be unique to the market, powered by our materials.
Team Lightwave
The company has been a beehive of activity as we focus on coordinating the numerous development activities necessary to achieve our goal of a working modulator. As we have shown you in the past, there are many milestones -- or steps along the way, that must be accomplished to achieve this goal. None of them are trivial, but all of them were achievable.
The materials team in our Delaware laboratory facility continues to synthesize and optimize our existing, as well as several new material candidates to optimize the performance of current and future prototype and commercial devices. Closely coupled to this work on core materials is an investigation of cladding materials that encapsulate the core layer for optimization of the overall modulator structure.
To illustrate this, it is important to understand that when we reported our initial modulation results last spring, testing was done on a straight ridge waveguide modulator structure consisting of a 3-layer polymer stack with an upper and lower electrode (see attached figure). As we developed our multi-Gb operational prototype, the waveguide circuit and electrodes are more complex requiring optimization of the overall 3-layer stack. These are engineering and processing hurdles, which took some time, but were not insurmountable. As I reported above, we made great progress in these areas and recently achieved a working prototype. We have added a goal of also developing a scalable manufacturing process.
Overall, device team progress is proceeding extremely well in our Longmont, Colorado facility and as I have mentioned, we are now at the point where we need to secure additional skill sets to better support further development efforts.
The coordination of our combined efforts has had much to do with our success. The materials team supports the device design requirements while our testing team oversees and verifies results. This allows a feedback mechanism where the device team reports back to the materials team to drive subsequent iterations of materials that yield desired results.
We are looking to bring in-house more specific skillsets in materials engineering and in device testing and fabrication as well as people to orchestrate these activities. As part of his role on the Operations Committee, Dr. Michael Lebby is currently playing a leadership role on an interim basis until we fill the position.
Telecom and Datacom Modulator Development
We have previously communicated to you our original intention to develop the ridge waveguide modulator merely as a test device to prove that our advanced organic polymer systems can meet commercial specifications and to demonstrate that they can hold up to the rigors of an operating environment. However, we have observed some unique aspects of the prototype that make us believe we might be able to modify our design to address commercial needs not only in telecommunications, but other applications and markets such as datacommunications and datacenters as well. We will also keep you posted on this progress as the program matures.
2017 -- and Beyond
We are well aware that some of our shareholders think our product development process is taking a long time to complete. However, it is consistent with the milestones that we had previously laid out. Also important for you to know that we are now attracting world-class engineers, and together with the active role of our senior technical advisor, Dr. Fred Leonberger and in concert with the technical link Dr. Michael Lebby is providing, we are confident our team will strengthen quickly as we move into 2017. We are breaking new ground for the company and in many respects, have made significant progress in the transition from a purely materials development company to a device development company. While this transition has lengthened the timetable, the good news is that the degree of difficulty required to master both the material and device challenges in competing materials, will forestall possible commoditization of P2IC™ for a long time. Thus, we anticipate excellent product opportunities that will yield above-average sales margins for a long time.
Over the next several months we will be compiling a detailed device specifications sheet to present to several interested parties. To refresh your memory, our objective here is to attract an industry partner with the synergistic capabilities necessary to help develop future products that are in various stages of design such as a slot waveguide modulator and ultimately our integrated fiber optic polymer-based transceiver.
We believe that 2017 will be the year where we begin to harvest the many technological successes that we have achieved and will continue to achieve. We are starting off with outstanding results and have learned much about the intricacies of implementing our organic polymer systems into devices. This knowledge base will accelerate our progress going forward.
Thank you,
Tom Zelibor
Chairman and CEO
https://finance.yahoo.com/news/lightwave-logic-inc-issues-shareholder-150643918.html
F2, haha, but in reality "flushing out" actually means
Definition of flush out
:
to bring to light
:
make public or available •hoping to flush out some millions of hoarded dollars •succeeded in flushing out many additional tax evaders
https://www.merriam-webster.com/dictionary/flush%20out
so...
Dr lebby will flush out (or bring to light) his vision for our future and the timeline to commercialization of our 1st product, and the follow-on products to be pipelined from it
amazingly, we still haven't had a great influx of 2-bit traders complete with loud mouth posters infesting our message board, I would guess that if we take out what would normally look to have been a "blow-off" high at 1.51 just over a week later, then this will most certainly occur, and volume would then also likely swell to over 2 million shares, guess we'll find out today
as Inversor basically just pointed out, the fundamentals today are MUCH, MUCH stronger than those that supported the run to 3.33 in Jan 2012, Dr Lebby is anticipated to present a beta version of the 25Gbs proto at the Photonics Roadmapping conference in the Netherlands in June, in the meantime we look forward to the ASM next week where Dr lebby will flush out his vision for our future and the timeline to commercialization of our 1st product, and the follow-on products to be pipelined from it
POET Technologies Reports First Quarter 2017 Financial Results
JOSE, Calif., May 11, 2017 (GLOBE NEWSWIRE) -- POET Technologies Inc. (the “Company” or “POET”) (POETF) (PTK.V), a developer of opto-electronic fabrication process IP and devices, and manufacturer of sensing and optical light source products, reported its consolidated financial results for the first quarter ended March 31, 2017 (Q1 2017). The Company’s unaudited financial statements as well as the Management Discussion and Analysis for Q1 2017 have been filed on SEDAR.
First Quarter and Recent Highlights:
•Revenue increased over 65% sequentially from Q4 to US$712,600, including US$80,000 of NRE;
•Gross profit was US$293,000 or 41.1% of sales;
•Granted 9 new patents year-to-date; and
•Ended the quarter with cash and short-term investments of US$11.7 million.
Total sales in the first quarter of 2017 were US$712,600, compared to US$423,500 in the preceding quarter. The sequential increase was due primarily to backlog from the fourth quarter being shipped in the first quarter as well as NRE revenue of US$80,000. Revenue in both the first quarter of 2017 and the fourth quarter of 2016 reflected the sale of DenseLight photonic sensors, primarily for test & measurement applications. Gross margin increased to 41% during the first quarter of 2017, compared to a negative 10% in the fourth quarter of 2016, as higher sales and NRE revenue allowed for better absorption of factory costs. First quarter net loss was US($3.5 million), or ($0.01) per share, compared to US($3.0) million, or ($0.01) per share in the same quarter one year ago. The loss in Q1 2017 included non-cash stock-based compensation of $894,813 and depreciation & amortization of $540,393, compared to $1,259,051 and $87,844 respectively in the same quarter one year ago.
Management Comments
Dr. Suresh Venkatesan, Chief Executive Officer of POET, commented, “First quarter results reflect our recent streamlining and realignment of the consolidated business, which was a meaningful contributor to the sequential improvement in our top-line results and gross margin. Since announcing our successful demonstration of a functional Vertical Cavity Surface Emitting Laser (VCSEL) for our integrated GaAs opto-electronic platform in early April, we have continued to make progress on performance optimization as part of our development effort to create a single-chip transceiver optical engine for the short-reach Active Optical Cable (AOC) market. The current market size for GaAs-based AOCs is $339 million, growing to $779 million by 2021, according to a recent report from LightCounting. The expected growth is the result of major cloud-based data center operators committing to AOCs because of the higher cost associated with the power consumption of copper-based cables.”
“Additionally, we are enthusiastic about the development of our hybrid integration platform, which utilizes a combination of indium phosphide (InP) technology and dielectric waveguide devices in a single package. By leveraging this approach, we are able to target additional high-growth markets within data communications. This Dielectric Photonics approach eliminates the need for active alignment and other expensive packaging elements and enables significantly lower cost solutions for medium-reach applications. Industry reports, including those from LightCounting and Oculi, llc referenced in our recent filings, estimate that the 100G to 400G optical transceiver market will grow from roughly $2.5 billion in 2016 to over $7.5 billion by 2021. In addition to addressing this substantially larger market opportunity with our integrated optical engine, we believe our product roadmap also provides the flexibility to sell active and passive discrete components across the broader data communications market. Looking forward, product development and commercialization based on this new hybrid approach as well as further advancement of our monolithic integration technology will continue to be the Company’s highest priority for 2017 and beyond.”
Annual General Meeting and Business Update
POET will hold its Annual General Meeting on July 13, 2017, with a shareholder record date of May 26, 2017. The Company’s 2017 meeting will be held in San Jose, California. Executive management plans to provide a comprehensive business overview and update as part of POET’s annual general meeting on July 13, which the Company intends to webcast.
About POET Technologies Inc.
POET (Planar Opto-Electronic Technology) and its subsidiaries are developers of opto-electronic and photonic fabrication processes, devices and products. The company's vision is to enable the integration of photonics and electronics through both monolithic and hybrid approaches to design and packaging. Integration is fundamental to increasing functional scaling and lowering the cost of current photonic solutions that drive applications in data communications, consumer products and industrial sensing. Leveraging both Gallium Arsenide (GaAs) and Indium Phosphide (InP) technology platforms, POET believes that its advanced processes for active photonic devices and innovative passive components provide a unique and differentiated combination that will enable substantial improvements in component cost, size and performance over current photonic solutions. More information may be obtained at www.poet-technologies.com.
https://finance.yahoo.com/news/poet-technologies-reports-first-quarter-201824310.html
Well, looks like progress is being made, although it would be helpful to investors if the level of detail on the progress notes was increased (substantially), as for cash burn, based on this quarterly report, burn of approx. $2 mil, would mean cash should last thru approx. 2nd quarter of 2018, hopefully in the interim, the cash inflows increase from 1) Denselight operations 2) NRE's and other partnering agreements, and those would increase the time table for any additional financing needs, and hopefully all of this gets us to the point where POETF's next-gen AOC is finally a commercial product, or at least well into its beta-proto stage, and out for customer evaluations and sampling
ProfitScout, please replace this sticky with the Z's final open letter to shareholders , tia
for the newbies >
Next Thursday is a Lightwave Logic Shareholders meeting in Boulder Colorado where I believe that the new CEO Michael Lebby will lay out the uses and potentials of their Patented Plastic Coating that can be Applied to Silicon, this material Increases the Speed while reducing the Size of the components required by Moores law and dramatically Reducing the Power required to Operate Data Centers (Green).
from the website bio >
Dr. Michael Lebby, Chief Executive Officer
Presently, Michael (www.linkedin.com/in/lebby) is driving new frontiers in the integrated photonics field as: CEO and Board Director, Lightwave Logic Inc (LWLG:OTCQB). Michael is also part-time full Professor and Chair of optoelectronics at Glyndwr University in Wales, UK where he contributes to the European Commission’s programs and pilot lines in integrated photonics. Michael has been involved in photonics for his whole career which began with research for the UK Government R&D labs in 1977, and continued at AT&T Bell Labs in 1984. At that time, Michael’s activities included researching novel optoelectronic devices in III-V compound semiconductors. Michael then went to Motorola’s Corporate R&D labs in 1989 and drove the VCSEL based technology platform to product and high volume manufacturing. He continued his fiber optics roles at AMP/TE Connectivity, and then helped initiate Intel’s silicon photonics work in 1999. In 2001, he founded his own company Ignis Optics to develop OC-48/192 transceivers and subsequently sold the company to Bookham (now Oclaro). Michael then led OIDA (Optoelectronics Industry Development Association) in Washington DC to campaign on behalf of the photonics industry. At OIDA Michael coined the term ‘green photonics’ and established this as discipline in the industry. Michael also spoke on Capitol Hill representing the optoelectronics industry. Since 2010, Michael has been focusing on bringing PIC (Photonic Integrated Circuit) based technologies to market in various roles that include Solar, LED lighting, and Integrated Photonics for fiber communications. Michael is pursuing high speed polymer based integrated photonics as part of a polymer PIC platform at Lightwave Logic Inc.
With over 450 issued international patents (derived from over 200 issued USPTO patents) in the photonics field over the past 30 years, Michael has been cited by the USPTO to be in the most prolific 75 inventors in the country from 1988-1997. Michael is a Fellow member of IEEE and OSA, and has dedicated his career to moving photonics into mainstream opportunities. Michael has given numerous invited and keynote talks, speeches, panel discussions, and interviews. The subjects have ranged from the IC semiconductor industry to optoelectronics to modern trends of green photonics, both nationally and internationally over the past two decades. Michael is an experienced expert witness and has participated in 30 intellectual property cases as a photonics expert over the last decade. Michael has 2 doctorates and a MBA from the University of Bradford in the UK and is a Chartered Engineer (C.Eng).
for a more complete look all of Dr Michael Lebby's incredible historical background check his profile on LinkedIn
2016 Integrated Photonic Systems Roadmap
http://photonicsmanufacturing.org/2016-integrated-photonic-systems-roadmap
Steve, AWESOME must see!
Meint Smit, Photonic Integrated Circuits
X, while I have witnessed plenty of this "shaving" technique over the years, LWLG has experienced only a miniscule amount of this type of activity to-date, I say to-date because once we get into the $3-$5 range and volume is consistently .5 million or greater, I am quite sure LWLG will begin to experience this tactic
I really wish the Reg Sho rules would require a cumulative amount of FTD's to be reported to investors every day, versus the daily totals they present to investors currently, this would be much more meaningful information, and then the threshold could be set at some percentage, such as the .5 of a percent of total outstanding shares, that MM's would be required to keep this cumulative number beneath or face penalties
Wise, yeah we are still on the Reg Sho list way beyond 13 days, and still running around 50% FTD rates
20170509|LWLG|273955|0|578213|O
47.4% FTD's today
Regulation SHO’s four general requirements are summarized below:
• Rule 200 – Marking Requirements. Rule 200 requires that orders you place with your broker-dealer must be marked “long,” “short,” or “short exempt.”[6]
• Rule 201 – Short Sale Price Test Circuit Breaker. Rule 201 generally requires trading centers to establish, maintain, and enforce written policies and procedures that are reasonably designed to prevent the execution or display of a short sale at an impermissible price when a stock has triggered a circuit breaker by experiencing a price decline of at least 10 percent in one day. Once the circuit breaker in Rule 201 has been triggered, the price test restriction will apply to short sale orders in that security for the remainder of the day and the following day, unless an exception applies.
• Rule 203(b)(1) and (2) – Locate Requirement. Regulation SHO requires a broker-dealer to have reasonable grounds to believe that the security can be borrowed so that it can be delivered on the date delivery is due before effecting a short sale order in any equity security.[7] This “locate” must be made and documented prior to effecting the short sale.
• Rule 204 – Close-out Requirement. Rule 204 requires brokers and dealers that are participants of a registered clearing agency[8] to take action to close out failure to deliver positions. Closing out requires the broker or dealer to purchase or borrow securities of like kind and quantity. The participant must close out a failure to deliver for a short sale transaction by no later than the beginning of regular trading hours on the settlement day following the settlement date, referred to as T+4. If a participant has a failure to deliver that the participant can demonstrate on its books and records resulted from a long sale, or that is attributable to bona fide market making activities, the participant must close out the failure to deliver by no later than the beginning of regular trading hours on the third consecutive settlement day following the settlement date, referred to as T+6. If the position is not closed out, the broker or dealer and any broker or dealer for which it clears transactions (for example, an introducing broker)[9] may not effect further short sales in that security without borrowing or entering into a bona fide agreement to borrow the security (known as the “pre-borrowing” requirement) until the broker or dealer purchases shares to close out the position and the purchase clears and settles. In addition, Rule 203(b)(3) of Regulation SHO requires that participants of a registered clearing agency must immediately purchase shares to close out failures to deliver in securities with large and persistent failures to deliver, referred to as “threshold securities,” if the failures to deliver persist for 13 consecutive settlement days.[10] Threshold securities are equity securities[11] that have an aggregate fail to deliver position for five consecutive settlement days at a registered clearing agency (e.g., National Securities Clearing Corporation (NSCC)); totaling 10,000 shares or more; and equal to at least 0.5% of the issuer's total shares outstanding. As provided in Rule 203 of Regulation SHO, threshold securities are included on a list disseminated by a self-regulatory organization (“SRO”). Although as a result of compliance with Rule 204, generally a participant’s fail to deliver positions will not remain for 13 consecutive settlement days, if, for whatever reason, a participant of a registered clearing agency has a fail to deliver position at a registered clearing agency in a threshold security for 13 consecutive settlement days, the requirement to close-out such position under Rule 203(b)(3) remains in effect.
https://www.sec.gov/investor/pubs/regsho.htm
Wise, couple things, the Threshold list seems to require 5 consecutive days where FTD's are greater than 0.5% of the issuer's total shares outstanding, this for us would be over approx. 350k shares of FTD's for 5 consecutive days, so that has not happened yet, seems like an easily avoidable rule to me though, MM's simply need to play nice 1 out of every 5 of these type consecutive days, right?
As far as the T+3,4 etc. , it is anybody's guess I'd say, I think they shuffle FTD's around to muddy the waters, maybe we have an MM with us who could elaborate on their machinations lol
closed near the high of the day, should be an interesting week ahead
Inversor, I like the cut of your jib! I couldn't resist, one last one for ole Z you know, and I too am super excited looking forward to the ASM next week!
Btw, sure looks like the larger lots have consistently gone off at the asking price all day today, a good sign, and volume picked up today as well
revolutionary concept for an orderly market, let the forces of supply & demand balance themselves out via the price movements of the stock, if the price zooms to high to fast, the buyers will shy away and the price will fall, and that price discovery would ultimately be better I assure you than MM's who manipulate markets to keep order and avoid what market forces would accomplish better on their own imo, in the age of electronic trading, there should be no need for MM's any longer
if that was the case then I don't see why LWLG has been on Reg Sho listing the last 3 days with what seems to be huge "failure to delivers"
tues 653k FTD's of 1.5M total vol
wed 481k FTD's of 970k total vol
thur 221k FTD's of 444k total vol
based on these Reg Sho FTD's the demand for shares is far exceeding supply of those shares
Steve, go back to the ECOC presentation, Slide 42 shows the components of Lightwave's Polymer Photonic Engine being set on a generic silicon photonics chip as an OSA, then slide 43 shows conceptually how Lightwave's Polymer Photonic Engine OSA will be packaged into standard CFP4/QSFP/uQSP boxes with a partner, also, Slide 33 indicates that testing indicated that there is no need for elaborate or expensive housings
Wise, Reg Sho has historically been a big problem as there is really no enforcement, back around 10 years ago it was so out of control that they tightened up the rules and started policing it and the Reg Sho lists became amazingly short for some time, but then policing of it gradually became more lax and now the lists are crazy long again
In our case, I would guess the MM's are hoping the volume settles down and they can effectively "sit" on price increments and collect back those shares over time, I highly doubt it will be anytime soon (if ever?), if Dr Lebby & co delivers our true next-gen proto, and we start advancing toward commercialization the pps should overcome this handicap
complaints can be filed if a company believes there are Reg Sho rules violations, but like you said, much of the time I think they shuffle things around to muddy the trail, lol
and th, I don't think they were trying to push the pps lower today with an intent to get us back to .70, I think they were just doing what they needed to do to not let the price rise again (at least not quickly) before they get a chance to buy those shares back at lowers prices than they shorted (a difficult task?)
Reg Sho once again 50% of total shares were "failure to deliver"
20170504|LWLG|201274 naked short|0|404666 total volume|O
http://regsho.finra.org/FORFshvol20170504.txt
officially his tenure as CEO is 4 days, but I hear ya, the 3/22/2017 announcement unofficially began his tenure, and the stock was a screaming buy at about .70 back then, I know I was telling potential investors to buy it right then & there, and you as well, others not so much, but my main point was his opening letter seemed to kick-off a market firestorm, almost as if the trumpets were being blown for his arrival, I am more excited than ever before, and our stock price should soon reflect the fact that potential now has never been higher, so that 3.33 high beginning of 2012 is in our sights, Dr Lebby at the ASM will give us the timeline of the 25Gbs beta-proto, and how it finds its way to the commercial market! can't wait!
Z's tenure closed with pps at 1.05 last Friday, last trading day of April, and on Monday Dr Lebby's tenure began with a gap open to 1.09 and a tremendous 2 day rally to 1.51 on huge volume, with MM's caught on Reg Sho listings Tues 653k and Wed 481k failure to delivers, today we went out at 1.05 which is exactly where Z's tenure ended, so full circle for Dr Lebby from 1.05 to 1.51 and back to 1.05 in 4 short days at the wheel, wow, interesting start, I am so excited for the ASM in 2 weeks time where Dr Lebby will lay out our new road mapped timeline to commercialization!
With approx. 3 million shares traded in Dr Lebby's first 4 days I get the idea the market is aware of this man's lifetime of accomplishments, and what it means that he chose to run this company because of his strong belief in our true next-gen technology soon to be unleashed!
haven't seen RJTrotts in a long time, how about BSmith72, OptiProf, ??? there are many, maybe some will return one day
Theroc, this precisely why earlier today I posted that what I am most anxious for from the ASM is the revised timeline, I believe Dr Lebby will give us good guidance as to how these things will all most likely play out, I trust his judgment as gospel in our industry
I also hope going forward, the timeline will be maintained better on the website, this is something that has been forever lacking and does not require that much time/effort/cost to keep current
Theroc, you may be right, I am assuming the customer evaluations will go much quicker based on the disruptive nature of our tech, and I am also assuming that the manufacturing process once refined in-house will be outsourced to a competent contract manufacturer when scaling up volume, so perhaps as early as 1st half 2018