Replies to post #66714 on Lightwave Logic Inc (LWLG)

[Mcfish]

Wouldn’t the 4th be nice

[prototype_101]

Richard said, since 2019 the 10Qs showed a separate line item for "Prototype Devices" listed as a current asset under NOTE 3.

https://www.sec.gov/ix?doc=/Archives/edgar/data/0001325964/000155335021000415/lwlg10q0321.htm
(Note 3 is on page 8)

Richard, good catch, the line item for "Prototype Devices" was $118,206 as of 12/31/2020 and now $0 as of 3/31/2021 (3 months later)

What this would most likely indicate is that these Prototype Devices were built for a Pilot Program and were recently deployed and as such the value of these Prototypes would have been Expensed on the P&L

What is a Pilot Program? Last step before Production!
https://www.valdas.blog/2017/05/29/proof-of-concept-vs-prototype-vs-pilot/


Ok, so the questions become,

1) how many Prototype Devices can LWLG build for $118k, and my guess would be quite a large number of devices!

2) how successful is the Pilot Program? well, it has been noted that LWLG has been changing its Reporting methodologies to be in compliance with Nasdaq, one of those changes was in the number of Independent Outside BOD designates, I don't think these changes would be being made if the the Piloting were not going extremely well, do you?