Yesterday, the high was .75. Today we closed at .59.
I think some, including myself, may have been somewhat disappointed by Wednesday's press release. Based on my original understanding of the April 2, 2009 press release, I was expecting that LWLG would announce definitve test results; not preliminary test results. However, upon a second reading of the April 2nd press release and Wednesday's release, the two releases are not necessarily inconsistent with one another.
From the April 2, 2009 release:
"[LWLG]intends to start its next phase of testing for material performance (r33) Teng-Man testing protocol in order to re-confirm previous test results ....
Lightwave is currently preparing samples to start our next phase of testing as we are [FINISHING] the Perkinamine material characterization...
Jim Marcelli, CEO added, "The r33 test results should be [COMPLETED] [along with OTHER material measurements and parameters] within the next four to six weeks or sooner. The company's material is complex and requires numerous measurements necessary for commercialization."
From the May 20, 2009 release:
"Lightwave Logic is [CURRENTLY] in the process of extensive internal and independent testing for material performance and characterization for specific application programs.
Our most recent preliminary performance evaluations, which include among other tests, the r33 Teng-Man testing protocol, support our previous test results and [APPEAR PROMISING]. We recently strengthened our internal testing protocols to create a more comprehensive testing program."
My concerns:
1. r33's along with other material measurements and parameters were not completed (as promised) as LWLG is currently in the process of extensive internal testing.
2. r33's "appear promising". The statement would lead one to believe that they were not able to overcome some technical hurdle. Still more work to be done.
3. "recently strengthened our internal testing protocols to create a more comprehensive testing program" My question is why didn't LWLG announce this in its April 2nd press release. Again, this leads one to believe that something went wrong during the most recent testing. I realize there are different ways to interpret this statement but my gut tells me there was some glitch.
GATES. |
