October 07, 2009 14:52 ET

Universal Capital Management Comments on Lightwave Logic's Current Progress

WILMINGTON, DE--(Marketwire - October 7, 2009) - Universal Capital Management, Inc. (OTCBB: UCMT), a Wilmington, Delaware business development company that provides management and strategic growth resources to emerging growth companies, is pleased to see exceptional progress being made with one of its portfolio companies, Lightwave Logic, Inc.

In June of 2006 Lightwave Logic reported, and the University of Arizona confirmed, an r33 performance of 12pm/V with a loading of 3%. These results demonstrated that Lightwave's material outperformed the nearest competitor by 700%. Lightwave's most recent test results indicated r33 performance readings of between 25pm/V and 80pm/V with loading ranges of 4 to 10%. We believe these readings are unprecedented. Just as remarkable is the loading ranges of between 4% and 10%. These loadings are far better than previous readings and well within commercially acceptable ranges -- a marked improvement over past results! In addition, Lightwave's materials appear to have demonstrated long term stability and it is our understanding that the materials now have the solubility they lacked during prior testing.

These accomplishments are extraordinary and a credit to their scientific team. This is the type of news we have been waiting for and we look forward to the completion of their modulator in the near future. Lightwave Logic was Universal Capital's first holding back in 2004.

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