This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Lightwave Logic Chairman & CEO, Tom Zelibor Provides Year-End Update To Shareholders

Stocks in this article: LWLG

We are also pleased to inform you that Dr. Fred Leonberger has accepted our offer to remain as a senior advisor to our company for an additional year. Fred has agreed to expand his role to be an advisor to our Board of Directors, as well. Fred is a world-renowned expert in optical devices and is a key contributor to our efforts to manufacture commercial devices. He is currently actively engaged in the due diligence efforts we are conducting on companies we are considering for future business combinations. I cannot emphasize enough the value and expertise that Fred brings to our company.

I would also like to inform you that as a result of the progress we have made with our materials development this past year, we are moving our current Chief Technology Officer, Lou Glasgow, to part-time status. This is not saying that we have solved all of our materials issues; since Lou will remain significantly involved with materials development along with the additional organic synthesis capability we obtained with the addition of Babu Sundar to our team. However, the CTO role is evolving to require more focus and expertise with optical devices and commercialization, rather than material development, and I do not see a need at this time to expend the cash (we have enough cash on hand to get us through 3 rd quarter of 2013) for a full-time position, given these circumstances. Furthermore, in connection with our effort to engage in a business partnership/acquisition, a by-product of that transaction could likely provide us with a person who has optical device expertise and could assume a full-time CTO role with our company to focus on the practical aspect of devices and commercialization.

Corporate Developments

As you were informed you at our August 2012 shareholder meeting, we have identified and entered into substantive negotiations with a potential business partner/acquisition target that fits most of our major business criteria. We have recently concluded a detailed analysis of the business synergies and we are excited by the potential. I am not at liberty to discuss any details at this time, except that we are moving the negotiations forward and we remain hopeful that we can reach an agreement, although we cannot guarantee you at this time that an agreement will occur. The timeline to conclusion is hard to predict due to the many variables and number of people involved, but we are working hard to make it happen. 

With so many game-changing opportunities arising as we move our company forward, we are discussing the possibility of scheduling a conference call in the next month or so to provide our shareholders with additional information and the opportunity to submit their own questions. I am excited about our prospects for 2013. We appreciate your support and wish everyone the very best for a prosperous New Year.

3 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs