U wrote "Molex is a fine company but if they don't approve the initial products, LUMM is left out
on a fragile limb. If they had other products under development with other companies, it
would be different. "
They would not have gone ahead with this second closing if the product wasn't successful in trial runs.
ST. LAURENT, QUEBEC--(BUSINESS WIRE)--March 13, 2000--In May 19, 1999, Lumenon (OTC BB:LUMM) entered into a
Teaming Agreement with Molex Incorporated.
This Agreement included $1,500,000 cash investment by Molex in Lumenon, in two phases. The first closing, for $750,000, took place
on June 4, 1999. The second closing of $750,000, scheduled for 9 months after the first closing, was contingent upon Lumenon's progress
in proving its technology and its ability to manufacture certain DWDM devices.
Lumenon Innovative Lightwave Technology, Inc. is pleased to announce that the second closing of the Molex Teaming Agreement
occurred as scheduled. The proceeds from this investment will be used to complete DWDM optical chip development. Lumenon is
working on bringing to the market an extensive line of DWDM chips that includes 25 GHz, 50 GHz, 100 GHz and 200 GHz 8, 16, 32,
40, 64 and 128 channel devices.
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