Lightwave Logic Chairman & CEO, Tom Zelibor Provides Year-End Update To Shareholders
NEWARK, Del., Dec. 31, 2012 /PRNewswire/ -- Tom Zelibor, Chairman and Chief Executive Officer of Lightwave Logic, Inc. (OTC: 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, provided the following comprehensive year-end update to shareholders:
2012 has been a key turnaround year for Lightwave Logic. As we enter 2013, we are a much more focused enterprise with significant activities in progress that are moving us forward in several of our areas of operation.
As we disclosed at the 2012 annual shareholder meeting and in subsequent updates, we've spent a significant amount of time analyzing and rationalizing all of the major components of our business; reorganized operations; added key personnel; consolidated our university collaborations; and made significant investments in capital equipment, including the construction of a new chemical synthesis laboratory and a separate optical testing facility. This involved a complex, coordinated effort that involved the entire team, which we successfully implemented in record time.Commercialization Efforts On the commercialization front, we have made significant advances in our next generation non- linear optical polymer material platform including the ability to purify Perkinamine NR TM, achieving a crystalline structure with 98.9% purity, which is vital to be able to manufacture commercial quantities of our materials. In addition, in order to alter the molecule's properties for expanded commercial uses, we needed to know exactly what molecular structures we were changing. We will follow the same process with the balance of our Perkinamine TM Family of chromophores later. Through our collaboration with Dr. Alan Mickelson at the University of Colorado Boulder, we have significantly advanced our microelectronics effort using Perkinamine Indigo TM, which has given us the ability to make exceptional quality polymer films at specified thicknesses that are almost 50% thinner than what we have previously been able to achieve. We are presently testing the electro-optical activity and experimenting with different chromophore loading percentages to determine the effect on the electro-optic activity before we coat proprietary devices. It is critical for us to establish repeatability in our process prior to final testing by our potential customer. The ability to make quality films was one of the problems that that we identified as a common denominator impacting our progress. We now believe that we have solved this and should reignite progress in some of our other prototype projects like the spatial light modulator that has been delayed for the same reason.
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