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Technology Stocks : LUMM - Lumenon Innovative Lightwave Technology Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (2413)	3/18/2002 7:07:51 PM
From: RICHARDJO	Respond to of 2484

All in Yahoo!News! Friday February 15, 8:04 am Eastern Time Mr. Moskovitz continued, ``During the quarter we announced delivery of initial product samples to two prospective customers, Poly-Scientific, a business unit of Northrop Grumman's Component Technology Sector, as well as a global `tier one' supplier. This was made possible, in part, because of our commitment for the past nine months to research and development of our advanced photonic hybrid glasses and polymers and the benchmarking of our PHASIC(TM) process. We have made significant progress towards our goal of achieving scaleable manufacturing of competitive products by placing a premium on repeatability and reliability. We have cycled through three generations of refinements in processes and materials since last spring, taking our first steps towards volume manufacturing. We have already made a variety of small production runs with very encouraging results.'' Mr. Moskovitz concluded, ``We are now approaching the first stages of commercial production of standard products -- both chips and packaged components -- in moderate volumes at our 53,000-square foot facility. Moving forward our primary goals are to initiate the first levels of repeatable production while expanding both our service and product offerings, and to pursue design wins and volume orders. We have also initiated activities designed to generate financing opportunities with the aim toward raising additional capital for the Company. We hope to raise between US$10 million and US$20 million in the next three to six months. With such financing, we believe that we will be well situated to take full advantage of market opportunities as economic conditions recover.'' biz.yahoo.com good luck