Lightwave Logic Inc (LWLG)

[MarcoPolo4]

Mr Stock Pick I can see your points on the nature of the impasse in negotiations. We don't know the details of what Michael Lebby did or didn't do that contributed to that impasse. Out of respect for him and what he did in leading the company to the point that commercializing polymers is possible, the Board won't tell us the details out of respect for him. The bottom line was the impasse existed and needed to be dealt with.

I would add that I believe Michael Lebby, lacking a long history of deal making, interpreted incorrectly interest and progress in negotiations from Tier 1s as being on the cusp of deals. It takes experience to know what roadblocks still exist as things can get stalled at that point as the other side really wants to kick the can down the road. After all, your Tier 1 target still has current technology to work through and other options to choose from to justify a pause. It takes a good negotiator to know who really wants to deal and who may be just fishing for information or trying to kick the can down the road to their internal timeline. It doesn't make Lebby a liar if he believed they were on the cusp of some deals so it is more likely his inexperience in dealing. Bringing an experienced deal maker to close deals does make perfect sense.