Lightwave Logic Responds to Short Selling Firm's Report
Lightwave Logic (NASDAQ: LWLG) issued a response to a report by Kerrisdale Capital, which the company claims contains false and misleading statements. Kerrisdale, which has admitted it does not guarantee the accuracy of its report, is reportedly short selling LWLG shares. Lightwave Logic reaffirmed its commitment to its prior statements and ongoing efforts to commercialize its electro-optic polymer technology, which aims to enhance data transmission efficiency. The response emphasizes that the report's intent appears to be to manipulate the stock price for profit at shareholders' expense.
- Commitment to prior statements and ongoing operations aimed at revenue generation.
- Focus on commercializing electro-optic polymer technology to enhance data transmission.
- Kerrisdale Capital's report may negatively influence investor sentiment.
- Short selling may indicate market skepticism regarding the company's future performance.
Report by Short Selling Firm Contains False and Misleading Statements; Management stands by all past statements contained in its press releases, investor presentations and filings with the U.S. Securities and Exchange Commission
ENGLEWOOD, Colo., June 7, 2022 /PRNewswire/ -- Lightwave Logic, Inc. (NASDAQ: LWLG), a technology platform company leveraging its proprietary electro-optic (EO) polymers to transmit data at higher speeds with less power, today provided a response to a report issued by short selling firm Kerrisdale Capital about Lightwave Logic that the Company believes contains statements that are false and misleading.
By its own admission, Kerrisdale Capital does not stand by the accuracy, timeliness, or completeness of its misleading report. At the time of the misleading report's publication, Kerrisdale Capital declared that it held short positions and put options on Lightwave Logic's common stock. The misleading report is not an independent and disinterested report, its primary purpose is to devalue the Company's stock price in order for the short selling firm to profit at the expense of Lightwave Logic's shareholders.
Lightwave Logic stands by all past statements contained in its press releases, investor presentations and filings with the U.S. Securities and Exchange Commission as it continues on its path to revenue. Lightwave Logic continues to expand its activities and operations with the objective of commercializing its electro-optic polymer technology, and it continues to focus on creating value for its shareholders.
About Lightwave Logic, Inc.
Lightwave Logic, Inc. (NASDAQ: LWLG) is developing a platform leveraging its proprietary engineered electro-optic (EO) polymers to transmit data at higher speeds with less power. The company's high-activity and high-stability organic polymers allow Lightwave Logic to create next-generation photonic EO devices, which convert data from electrical signals into optical signals, for applications in data communications and telecommunications markets. For more information, please visit the Company's website at lightwavelogic.com.
Safe Harbor Statement
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "explores," "expects," "anticipates," "continue," "estimate," "project," "intend," 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, lack of available funding; general economic and business conditions; competition from third parties; intellectual property rights of third parties; regulatory constraints; changes in technology and methods of marketing; delays in completing various engineering and manufacturing programs; changes in customer order patterns; changes in product mix; success in technological advances and delivering technological innovations; shortages in components; production delays due to performance quality issues with outsourced components; those events and factors described by us in Item 1.A "Risk Factors" in our most recent Form 10-K and Form 10-Q; other risks to which our company is subject; other factors beyond the company's control.
Investor Relations Contact:
Lucas A. Zimmerman
MZ Group - MZ North America
949-259-4987
LWLG@mzgroup.us
www.mzgroup.us
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SOURCE Lightwave Logic, Inc.
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