Lightwave Logic Inc (LWLG)

[Nrdc92]

This is, incontrovertibly, an extremely poor management team (as distinguished from a scientific team). They failed to evolve as the science evolved. They thought that they could make a Tier 1 splash with Lemonade Stand management skills. An error of arrogance. This is one of the most illustrative business school case studies I’ve ever seen - how to take a great product and destroy its commercial potential through sheer managerial incompetence.

Problems:

- No competent CEO
- No competent CFO
- No competent PR team that can simplify the science for the market
- No heavyweight sales team that can engage and sell to potential customers
- No competent communication team to handle shareholder communications in an SEC regulated environment
- The absence of a global accounting firm as auditors ………