NEWARK, Del., Dec. 16, 2010 /PRNewswire-FirstCall/ -- Lightwave Logic, Inc. (OTC Bulletin Board: LWLG). On December 8, 2010 the management team from Lightwave Logic a technology company focused on the development of the Next Generation Electro-Optic Polymer Material Platform for applications in high speed fiber-optic data communications and optical computing hosted a webcast to update shareholders on the company's recent technology and business progress.
A replay of the webcast including the slide presentation will be available for 60 days from the date of the webcast at the following URL: http://register.webcastgroup.com/l3/?wid=0841208105487, or at the investor relations section of the company's website.
Highlights of the call are as follows:
- We announced that the company received notice of allowance from the USPTO for Perkinamine™ chromophore architectures and the company's proprietary spacer system, which protects the core of Lightwave's technology.
- We announced the completion of a successful $1,500,000 capital raise that should fund the company through the end of 2011.
- We announced the initiation of a design and evaluation prototype for a new project with Lockheed Martin, a Fortune 500 company that has revenues of $45 billion.
- We announced a new research collaboration with City University of New York (CUNY) for the design and prototyping of optical devices using our new powerful third-order effect materials that allows light to switch light.
- We announced the filing of a patent application on Perkinamine NR™ chromophores, which are new advanced third-order materials recently tested by Lehigh University that demonstrated a powerful third-order effect that allows light to switch light for the design of all optical switches and other all optical devices.
- We discussed our status with the Defense Advanced Research Project Agency (DARPA) in evaluating Perkinamine NR™ for use in optical limiter applications as well as other defense and government related projects.
- We updated shareholders on progress at The University of Alabama on optimizing the steps to produce high yield commercial quantities of our Next Generation Electro-Optic Materials.
"Powered by Lightwave Logic"
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.
SOURCE Lightwave Logic, Inc.