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The company still exists. I'm sure updates will come out in due course.
**For all of you who are still holding**
Looks like this was a front loaded pump and dump, but.........
You may have just stumbled across the best buy and hold trade you'll ever make.
Rumor has it that DLA Piper are on to something with monetizing the IP. Give it a few months and things might get very interesting.
I think you are stating the obvious. I do not expect the 2nd qtr filing to make for great reading, but I do expect a filing.
The guy who just posted summed it up going forward. It's up to the BOD to do the right thing and hire a decent team.
No, it's not.
Have you ever met him and had dealings with him?
I have.
BOD should have had more control over him and should have got rid of him along time before he went.
Hmm.....Let me think about....
Doom and gloom Ihub message board poster Ernie Bilco says Aimed Optics is worthless.
Largest law firm in the world sees value in it.
That's a tough one..........I think I'll go with the law firm.
I think you have a misguided view of who the liars and cheats are.
I am one of those shareholders who has dug deeper and gone after answers. No one is going to find the answers they want on a message board.
Unfortunately, like you pointed out, in this day and age there are more liars and cheats than there are honest hard workers. It makes it harder and harder to trust or rely on anyone.
Press release from Piper would be great, but I don't see any way they would do it. That's not how they operate.
I'm sure news will come from the company in due course.
WOW!!!! Mel the fall guy? You could not be more wrong.
It disgusts me what that guy did to Evolucia. He was CEO and Chairman of the board!
BTW - been around for c3yrs and invested directly with the company.
Seriously "so much bs?"
I suppose "they" whoever "they" are going to make tons more money at our expense.
A lot of people have suffered as a result of Mel's incompetence, including myself and I guess you also.
Why do you assume everyone associated with the company is a crook and everything is BS?
Sometimes things (and people - Mel) don't work out as planned.
Luckily, it is far from being over.
I disagree, piper are not there for "happy talk" as you call it. Piper are there on their terms. A company that generates 2.5 billion a year does not get involved unless there is big $$$$ potential. They will have thoroughly researched the market for potential infringements and the strength of the existing patents. Evolucia is in a mess and they still took them on. Huge revenue potential.
I hope that adage does come around and Mel gets what he deserves. You are right, all these people were misled and you can add shareholders to the list.
Mel is gone. The mess he created is being cleaned up.
The company owns valuable IP which is validated by the involvement of DLA Piper. Piper are in it for one reason and one reason only - MONEY. I'm sticking around for the same reason.
You also can't spell AIMED LIGHTING without ILED.
Look, Mel's attempt at direction and management was an utter disgrace.
Only time will tell, but I think better times are coming to Evolucia.
This is HUGE!!! News.
DLA Piper is the largest Law firm in the world by revenue. One of their main practice areas is in Intellectual Property!!!
There has to be significant value to Evolucia's patents.
http://en.wikipedia.org/wiki/DLA_Piper
Found this while searching the internet. Not sure why it didn't come out on the Newswire. I'm sure it will in time.
Evolucia Shareholder Update
CEO of Evolucia provides update to shareholders.
Sarasota, FL, June 29, 2014 --(PR.com)-- Evolucia Inc., (OTCBB & OTCQB: ILED), a leader in high performance LED (light emitting diode) lighting systems, today released the following update from its new Interim Chief Executive Officer, Thomas Seifert:
"My name is Thomas Seifert and I am the new Interim CEO of Evolucia. My background is in corporate governance, business efficiencies and finance with an emphasis on forensic accounting and analytics. I was hired by the board of directors of Evolucia to work with the operations team, to develop a path forward and to analyze and investigate the actions of the past executive team.
Since I was hired in April of this year, I have worked with the board of directors, founders and remaining operations team to determine what steps must be taken in order to stabilize the company. I am pleased to report that there is a path to success that is achievable and our partners to date have supported this path.
Currently, Evolucia has $2.9 million in vendor and accrued debt and I will be working with each vendor who is owed money to discuss settlements of this debt. I am working with investors with the goal of recapitalizing the company so that we can move forward in a positive direction and to restore the name of Evolucia. Evolucia products are recognized for performance and quality and the company simply needs experienced management to do its job in a fiscally responsible manner. My experience is that bankruptcy is neither in the best interest of Evolucia nor its creditors, so it is my hope that we can develop a plan that services this debt on a schedule that allows for ongoing corporate development, recovery and scaled growth.
We recently engaged the law firm of DLA Piper to represent Evolucia with respect to intellectual property licensing and patent infringement litigation. DLA Piper is the largest business law firm in the world and works with many of the world's preeminent technology companies, offering advice throughout a broad range of areas. Our engineering team has already begun to work with the IP team at DLA Piper to determine the value of the company’s patents and proprietary products. Our goal is to monetize these assets both in the short and long term. Although we are optimistic about the future of this channel, it is too early to project what revenues Evolucia could realize from licensing and enforcing its intellectual property rights.
We recently engaged the mechanical engineering team of RoBrady Design. RoBrady is a multi-disciplinary product design and development studio that provides Evolucia with progressive industrial design, mechanical design and product engineering, market research, complete rapid prototyping and production program management. RoBrady design stresses a comprehensive speed-to-market plan by collaborating to identify the greatest areas of opportunity and profitable product solutions. Our electrical and photometric engineers are currently working with Leader Electronics and RoBrady engineers to redesign and reengineer the Aimed Optics™ product platform. This is critical to the future of Evolucia as competing in this industry requires constantly reengineering products in order to reduce costs and improve performance by keeping pace with the rapid advancement of technologies and new optical, thermal and LED component developments that continue to drive the industry forward.
Over the next 12 months, we will be working with our partners to develop the next generation of Aimed Optics products. We have started our next generation development which will be focused on cost reduction. We expect to accomplish this by strategically integrating the current aimed optics insert and fixture housing into a single unit to minimize heat loss and eliminate redundant system costs. Our patented Aimed Optics™ technology inherently requires fewer LEDs, components and materials than light bar and flat-plane products, so our bill-of-material costs should be lower than our competitors.
With respect to growing Evolucia’s sales, this is a challenge for the short term, but we believe it is achievable. Our partner, Leader Electronics, has committed resources and incentives to assist our efforts to gain new business. Our warranties are backed by Leader Electronics and we believe our pricing is competitive. We are working with a small group of representatives and distributors who specialize in the sale and installation of high performance roadway and area lighting products. Our goal is to focus on growing our distribution channels by providing quality Aimed Optics™ products at competitive prices. For the foreseeable future, Evolucia will only focus its time and capital on the distribution of products that it designs, engineers and manufactures with its partner, Leader Electronics.
Our job over the next 12 months is to design and engineer Aimed Optics™ products that meet performance requirements and cost targets that are demanded by the markets. My expectations are that our products will continue to be recognized for excellence by the industry and that our proprietary Aimed Optics™ technology will allow us to compete with any fixture in the industry on both cost and performance metrics.
Although, I hope everyone will recognize this shareholder update as optimistic, I would also caution everyone that we have serious issues to manage. While I would categorize the vast majority of Evolucia’s note-holder debt as “friendly debt,” there are other liabilities that we will need to address. I am optimistic about the future of Evolucia, but I am keenly aware that we must move forward with a diligent focus on efficiency and performance with little margin for error. I believe in this company, our team, our partners and our patented technology, and am confident that we can achieve success.
In closing, I would like to address a few questions that were emailed to Evolucia by shareholders:
[1] To clear up any misinformation about my work history, please be advised that I have no relationship with the Rocky Mountain Fund and had never heard of it until a local Bradenton newspaper erroneously printed my supposed affiliation. In addition, I have no history of securities violations, however I have worked with several distressed companies in the past and am proud of the contributions that I have made to those companies.
[2] The company continues to operate from facilities located at 7040 Professional Parkway in Sarasota, Florida. Information printed in local newspapers to the contrary was false. Although we may be downsizing our office space and relocating our facilities in the future, our landlord has, to this point, been amenable to working with us to solve problems that were created by past management.
[3] Evolucia is in the process of launching a new website at www.evolucia.com. I understand the importance of our website, and apologize that the site was compromised upon the departure of prior management.
I would also like to announce at this time that Evolucia will host a shareholders’ meeting during the 4th quarter of this year. Shareholders and investors will receive formal notifications of this meeting as per SEC requirements and I would like to encourage all of our shareholders to attend this meeting.
The new team at Evolucia is already working diligently to regain the trust of our shareholders, customers, investors, partners and vendors and as Thomas Edison said, “Our greatest weakness lies in giving up. The most certain way to succeed is always to try just one more time.”
Thank you for your continued support of Evolucia, and I look forward to seeing you at the shareholders’ meeting."
Respectfully,
Thomas Seifert
CEO - Evolucia, Inc.
About Evolucia Inc.
Evolucia is an innovator and creator of patented LED lighting technologies and products that represent a new age of long-lasting energy efficient lighting solutions. Using proprietary Aimed Optics™, Evolucia's solutions have consistently topped all competitors in U.S. Department of Energy testing, and represent the best performing LED lighting systems in the world.
Our systems increase visibility while providing the highest energy efficiencies available, resulting in unprecedented cost savings. Our products light the way for military bases, universities and cities around the world, requiring 50 to 80 percent less energy and lasting for approximately 12 years without maintenance.
More information about Evolucia Inc. and its LED lighting systems is available in the company's Securities and Exchange filings, which can be found at www.sec.gov or at www.evolucialighting.com.
Forward-Looking Statements
Some of the statements made by Evolucia in this press release are forward-looking in nature. Actual results may differ materially from those projected in forward-looking statements. Evolucia believes that its primary risk factors include, but are not limited to: development and maintenance of strategic acquisitions; domestic and international acceptance of our product lines; defending our intellectual property and proprietary rights; development of new products and services that meet customer demands and generate acceptable margins; successfully completing commercial testing of new technologies and systems to support new products and services; and attracting and retaining qualified management and other personnel. Additional information concerning these and other important factors can be found within Evolucia's filings with the Securities and Exchange Commission. Statements in this press release should be evaluated in light of these important factors.
Contact Information
Evolucia, Inc.
Tom Seifert
941-343-2455
Contact
evolucia.com
DLA Piper are involved, these patents have to be valuable. There is absolutely no way the biggest law firm on the planet gets involved with out there being the potential for big revenue.
Well the 10k just goes to show how badly the company has been mismanaged.
On a positive note it says that DLA Piper (the world's largest law firm by revenue) has been engaged to represent the company in connection with its IP. A law firm of that size and stature is only in it for one reason - $$$$$$!!!
That’s good for Evolucia, that’s good for DLA Piper and that’s good for us investors.
The value of the IP portfolio could be huge!!
Hopefully the interim CEO will clean up the mess left by the previous management and leave it ready for a new team to come in and take the company forward.
It’s been a painful couple of years, but we may just get some better news going forward.
JMO
This is great news!
Article about Evolucia in Scene Magazine.
http://issuu.com/scene_magazine/docs/march2014/1?e=1511207/6809034