SOURCE: Universal Capital Management

Universal Capital Management

November 03, 2009 14:01 ET

Universal Capital Management Discusses Lightwave Logic in an Open Letter to Its Shareholders

WILMINGTON, DE--(Marketwire - November 3, 2009) - Universal Capital Management, Inc. (OTCBB: UCMT), a Wilmington, Delaware business development company that provides management and strategic growth resources to emerging growth companies, released an open letter to its shareholders regarding the recent advancements reported by one of its portfolio companies Lightwave Logic Inc.

Dear shareholders:

Lightwave Logic has been part of Universal's investment portfolio since its inception. From the beginning, Universal recognized the potential of Lightwave Logic's science. Lightwave's recent press release announcing the successful completion of the fabrication stage of their prototype phase modulator, which demonstrates a commercially viable process for the manufacture of optical devices using Lightwave's 'Next Generation Electro-Optic Material Platform,' validates Universal's foresight to invest in Lightwave Logic.

Upon the most recent announcement, Universal asked Hal Bennett, former CEO of Lightwave for his thoughts. "The successful completion of Lightwave's prototype phase modulator chip is a watershed event that could portend a new era in personal computing: cognitive computers like the HAL9000 computer depicted in the film '2001: A Space Odyssey,' that can see, hear, speak and think," Mr. Bennett stated.

He continued to elaborate, "Visionaries in the 1980's saw a future in which polymer optical computing would take computing to the next level. Major efforts by dozens of companies and universities yielded everything but a polymer modulator. Along the way, much research on optical computing was done in anticipation of the breakthrough that never came... until the demonstration of the Lightwave Logic Modulator chip. What remains from the earlier research efforts is know how on how to build optical computers -- know how that Lightwave Logic is now uniquely poised to exploit."

Universal's management believes the initial run of 100 modulators is exciting. It indicates to us that Lightwave Logic has developed more than a mere lab prototype modulator; it has developed a scalable manufacturing process as well.

"For the past few decades the large technology companies said to inventors in this space, 'Come back when you have a working modulator,'" says Robert Oberosler, President of Universal Capital Management. "We believe this event will enable Lightwave the opportunity to go to those companies and analysts and offer them what they have been waiting for -- what no one else has been able to deliver until now."

Near-term, we see a number of potential market opportunities for Lightwave Logic optical computing components.

Fiber Optic Telecom Modulators. A market estimated to be in the $100 million region is low-power high density modulators.

Optical Encryption Systems. A market we estimate to be in the $ billions is ultra high security encryption systems which encrypt the actual lightwaves traveling down an optical fiber.

Millimeter Wave Communications Modulators. Millimeter wave communications systems are forecast to be the next backbone communications system for the cellular industry.

Millimeter Wave Radar Modulators. Wide deployment by the military of millimeter wave radar requires a reduction in cost and size that could be afforded by Lightwave's technology.

"We are thrilled to watch Lightwave move from development towards commercialization," says Michael Queen, CEO of Universal. "Some of the things we are hoping to see in the near future regarding Lightwave are: interest from big firms and military contractors; co-development agreements; confirmation of a second modulator; and more outside analysts supporting the company."

About Universal Capital Management, Inc.

Universal Capital Management, Inc. is a publicly traded business development company under the Investment Act of 1940. Its purpose is to provide an opportunity for its shareholders to diversify risk by investing in a fund that assists its portfolio companies to grow and increase in value. Please refer to the company's website at http://www.unicapman.com.

Forward-Looking Statements

The information contained in this press release may contain "forward-looking statements." You can identify these statements by use of the words "may," "will," "should," "plans," "explores," "expects," "anticipates," "continue," "estimate," "project," "intend," "believe," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to the following which could affect Universal Capital Management, Inc. or one or more portfolio companies: general economic and business conditions, effects of continued geopolitical unrest, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patters, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control. The Company assumes no obligation to update publicly or revise any forward-looking statements.

Contact Information

  • For more information contact
    Julie Malewski
    (302) 998-8824
    Email Contact