TUCSON, Ariz., April 26, 2017 /PRNewswire/ -- Applied Energetics, Inc., (OTCBB: AERG), today reported that it has commenced its planned research and development program to develop the next generation of our Ultra Short Pulse lasers by increasing the energy and power while decreasing the size, weight, and cost of our Ultra Short Pulse lasers. We expect to develop very high energy and power scaled Advanced Ultra Short Pulse lasers that will have broad applicability for Department of Defense, commercial, and medical applications. Although the historical market for AERG's Laser and Laser Guided Energy technologies have been the U.S. Government, our Advanced Ultra Short Pulse laser technology, developed in the initial phase of our overall research and development program will allow for numerous applications in the commercial and medical markets thereby creating a substantially larger product space for our Company.
Starting in the fourth quarter of 2014, and through the first quarter of 2017, the Company reported as a "shell company" as such term is defined in Rule 12b-2 of the Securities Exchange Act of 1934, as amended due to the suspension of its previous business activities in October, 2014. The Company has developed a comprehensive research and development program and commenced research and development activities in April, 2017. Because Stephen McCahon a founder and a primary inventor of our Laser Guided Energy technology, Applied Optical Sciences Inc., and each of the members of our Scientific Advisory Board have commenced work on the Company's Research and Development Program and are being compensated for their services, the Company is now operational and is no longer a Shell Company as defined by Rule 12b-2 under the Exchange Act (17 CFR 240.12b-2).
The members of the Scientific Advisory Board have agreed to assist in our Strategic Roadmap Development, expected R&D activities, and provide a sound technical basis for future teaming, investment, and market analysis. These members have been chosen based upon their areas of subject matter expertise and senior experience levels that span both the Department of Defense ("DOD") and commercial sectors.
The members of the Scientific Advisory Board are:
Dr. Gregory Quarles
- Chief Scientific Officer for The Optical Society (OSA) in Washington, DC.
- Ph.D. M.S., Physics, University of Oklahoma, 1987.
- 30 years' experience Optical Physics, Executive and Management Positions and Major Scientific Advisory Boards.
- 100 Publications, 5 Patents issued.
Dr. L. A. Schlie
- Ph.D. EE , 1970, MSEE, 1966, BSEE, University of Illinois, 1965.
- 40 years' experience In Optical Physics, Sr. Gov't Scientist for Directed Energy Weapons.
- 70 journal papers, 2 book chapters and 21 patents.
- Member of Various Steering Committees for DoD, DOE, DARPA, NSF and DHS.
- Advisor for DoD, DOE, NASA and NSF on laser technology, applications and effects.
Dr. Charles Hale
- Director of Research and Development, Daylight Solutions.
- Ph.D. Engineering, Purdue University, 1999, MBA, University of Arizona. 2006.
- 21 years' experience in engineering and program management in commercial and DoD environments.
- 14 publications, 1 patent issued.
Dr. James Harrison
- Senior Independent Consultant.
- Ph.D., M.S., B.S. Electrical Engineering, M.I.T., 1986.
- 30 years' experience in Lasers, Optical Physics, Electronic materials, Program and Executive Management.
- 60 scientific publications; 10 patents issued or pending.
George Farley, CEO, commented that AERG is fortunate to have recruited this impressive group of scientists to assist in our operations and business and guide us on our path forward.
About Applied Energetics, Inc.
Applied Energetics, Inc., based in Tucson, Arizona, specializes in development and manufacture of advanced high performance lasers, high voltage electronics, advanced optical systems, and integrated guided energy systems for defense, aerospace, industrial, and scientific customers worldwide. Applied Energetics pioneered the development of Laser Guided Energy(TM) (LGE(TM)) technology, and related solutions for defense and security applications.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995:
Certain statements contained in this News Release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Such factors include, but are not limited to: the dependence on sales of a limited number of products and the uncertainty of the timing and magnitude of government funding and orders, dependence on sales to government customers; the uncertainty of patent protection; the uncertainty of strategic alliances; the uncertainty of management tenure; the impact of third-party suppliers' manufacturing constraints or difficulties; management's ability to achieve business performance objectives, market acceptance of, and demand for, the Company's products, and resulting revenues; development and testing of technology and products; manufacturing capabilities; impact of competitive products and pricing; litigation and other risks detailed in the Company's filings with the Securities and Exchange Commission. The words "looking forward," "believe," "demonstrate," "intend," "expect," "continue," "contemplate," "estimate," "anticipate," "likely" and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made. Applied Energetics undertakes no obligation to update any forward-looking statements contained in this news release.
George P. Farley
Chief Executive Officer
2480 W Ruthrauff Road, Suite 140Q
Tucson, AZ 85705
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SOURCE Applied Energetics, Inc.