This below is what 2015 is all about. Looking forward to it.
In 2013, we partnered with and invested in AC Kinetics, a team of research scientists and MIT-trained PhD engineers, who, over the last 18 months, were focused on developing new and advanced technologies to improve upon our power-failure solutions. We did anticipate introducing these jointly-developed new and innovative power-failure lighting products in the third quarter of this year; accordingly, we commenced working with our partner Light Engine Limited, who by the way is recognized as a leader in the development, engineering and manufacturing of LED technologies in Asia, to integrate these technologies into a series of products. A number of significant engineering challenges occurred through this process, which caused delays of three to six months. The level of complexity and sophistication of AC Kinetics technologies were underestimated. I am pleased to report that we have just recently completed the recommended testing and debugging of the software technologies and are now rapidly proceeding with final prototype development and compliance and certification testing. This final phase will not cause any further delays in making retail presentations. In short, these developments, which we had hoped would impact our 2014 performance, will definitely serve as catalysts for 2015.
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