Lightwave Logic Inc (LWLG)

[tedpeele]

Technology Readiness--SLIDE29: Let's really discuss please:

If you find anything you disagree with - let's talk about it and try to avoid the extreme polarization.

Lightwave has said their product is "READY", which has led to great expectations for major Tier1 deals. But folks here have misunderstood what is ready and what isn't ready. That's because It's often unclear which of they following Lightwave is talking about.

Material. Modulators. PICS. Packaging. Transceivers.

Dr Lebby broke this down fairly well in slide 29 at ASM which shows Materials, PICs, and Packaging . Look very closely at this slide: https://api.mziq.com/mzfilemanager/v2/d/307dbc8b-e212-48ba-9968-8cef3f6b5188/a669fa0d-6741-ad73-e523-69a20e3cdd15?origin=1

Material

Readiness. The material is ready from Lightwave's perspective. That's why they have done one deal (2023) and why they talk about other deals under discussion. Re slide 29 at AMS which shows materials, PICs, and Packaging in their Product RoadMap Dr Lebby says:

we all know that the Perkinamine series platform is already there. We’re very happy with that. But we’ve also got the 6 (phon) series, and we’re really focusing on the next generation, which is the 400G. It’s higher in performance, it’s higher R33 (phon) and higher stability. That one is on qualification.

Perk is ready and qualified. Series 6 is not yet ready and is in the process of behing qualified.

But everything else falls under the 'not clear' heading, with some clearly not ready yet.


Modulators

Plasmonic modulators:

Readiness: These are ready for small sales and are being offered commercially via Polariton and are sold to universities and others for research in limited quantities. That's why the revenue has been so low. They are not ready for scalability, although the company is working on improving them. Research shows some great bandwidth results but it is not ready for scalability yet. More deals of this nature are currently possible at this time, but that's not the 'ubiquitous' route.

Polymer Slot Modulators - sounds like we've gotten some great results from AMF testing on 200mm wafers.

Readiness: Not clear . At the ASM Kevin asked about the variations in Vpi from 1 to 3 and then asked point blank whether the foundry could produce an entire wafer of 1 volt modulators at 200G. . Easy question to answer, but Michael danced around the question. He could have simply said "Yes." if they were ready. Instead he first said re the variation .

I just wanted to put out to show we have four (phon) packaged modulators. I didn’t put all the statistics out. I just wanted to have a quick sample to show people

Then he said "You'll probably see a lot more statistics as we go forward in the next six to nine months". Why did he answer in this way? To me he is saying that they aren't yet ready because more data needs to be compiled. Perhaps the results just aren't consistent enough yet. Or possibly the modulators ARE ready but the end customers simply are demanding a lot more data than what they have so far.

Availability: All indications - including the filings - are that only one foundry is making these so far on 200mm wafers. Whether that is a problem currently is not known.


PICS photonic integrated circuits which are more than just individual modulators. This was a goal for 2024.

Readiness: It was not ready mid year and no indication has been made that it is ready yet. This is highly complicated. On slide 29 at ASM re the PICS Dr Lebby says: .

We know we’ve demonstrated a single channel of 200 gigabits per second. The 4 channel’s coming, because we know that’s what the industry wants..

So the industry wants 4 channels yet they have yet to demonstrate 4 lane 200gbs. The slide shows - by color - that the PIC is in development and not yet qualified.


Packaging I think he is referring to packaging of the PIC module here. Dr Lebby said at ASM (slide 29)

The last one here is we’ve got to be able to put this in some type of package so the customers can put it into transceivers. This one is being worked on as well.

Transceivers Modulators must be ready, and modular PICS must be ready, and packaging must be ready before a transceiver company can make a transceiver with them. And there is another step - an Optical Engine - which incorporates the modular PIC and other optical components like lasers into a more complete optical unit. Sometimes this done by a separate company, other times done by the transceiver company.


SO WHY DO PEOPLE HERE KEEP THINKING THE PRODUCT IS READY BUT DR LEBBY IS JUST NOT A GOOD SALESMAN? HE LITERALLY HAS TOLD US IT ISN'T READY WHEN HE DISCUSSES THE PRODUCT ROADMAP ON SLIDE 29. The confusion I think is that the material IS ready but that isn't what the Tier1 deals are all about.

It's understandable from the above why they haven't announced the development of a final transciever product using their PIC with a transceiver company: It just isn't ready.

If you are skeptical because I'm writing this, you can read more about the process from KCC in his post here: https://investorshub.advfn.com/boards/read_msg.aspx?message_id=175036677


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