WILMINGTON, DE -- 11/03/09 --
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.
For more information contact
Julie Malewski
(302) 998-8824
Email Contact
