Lightwave Logic Reevaluates Internal and External Research & Development and Testing Capabilities
NEWARK, Del., June 19, 2012 /PRNewswire/ — Lightwave Logic, Inc. (OTC Bulletin Board: LWLG), a technology company focused on the development of a Next Generation Non Linear Optical Polymer Materials Platform for applications in high speed fiber-optic data communications and optical computing, announced today that a careful reevaluation of its internal and external research and testing capabilities has begun an effort to accelerate the move to commercialization of its advanced organic nonlinear optical materials.
Tom Zelibor, Chief Executive Officer of Lightwave Logic commented, “This marks the most important step in the action plan that was outlined in my recent letter to shareholders. Over the last 45 days, a detailed analysis of every aspect of our R&D and testing efforts was performed in order to achieve greater efficiencies as well as improved operational capabilities. This has involved a reassessment of both internal and external relationships that have often been out of step with our corporate goals.
“The effort will result in a series of actions that will be the foundation of a new vision–anchored by a comprehensive business plan to guide our actions. I will be excited to share the results of these findings and this new vision for our company in a comprehensive technology/business update during this year’s Annual Shareholder Meeting.
“Additionally, our potential microelectronics customer has communicated to us an increased interest in Perkinamine Indigo(TM). We will be coating their proprietary test vehicles with our material that they will analyze and test in their own facilities. I want to assure our shareholders that despite all the testing delays, we are taking control of these efforts both internally and with our partners to improve the timelines around our results.”
David Eaton, Scientific Advisor to Lightwave Logic stated, “We continue to test new versions of Perkinamine Indigo at the University of Colorado and have demonstrated good initial results. However, we look forward with great anticipation to see the material in a practical application. This means in a device and without the influence of biases caused by various testing protocols.”
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Lightwave Logic, Inc. is a development stage company that is producing prototype electro-optic demonstration devices and is moving toward commercialization of its high-activity, high-stability organic polymers for applications in electro-optical device markets. Electro-optical devices convert data from electric signals into optical signals for use in high-speed fiber-optic telecommunications systems and optical computers. Please visit the Company’s website, www.lightwavelogic.com for more information.
Safe Harbor Statement
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words “may,” “will,” “should,” “plans,” “explores,” “expects,” “anticipates,” “continue,” “estimate,” “project,” “intend,” and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company’s control.
For Further Information Contact: Steven Cordovano Lightwave Logic 203-952-6373 email@example.com
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