MERCERVILLE, N.J., Jan. 29 /PRNewswire-FirstCall/ -- Laser Energetics, Inc. (Pink Sheets: LNGT) announced today that it has received an order for a fully developed, pre-production clinical laser system with an order value of $550,000. The laser system is based on Laser Energetics' proprietary and patent protected BrightStar(TM) Alexandrite laser.
The order was placed by Hygenilase, Inc. Hygenilase is a newly-formed joint venture between Laser Energetics and Lantis Laser, Inc. of Denville, NJ (Pink Sheets: LLSR). Hygenilase, will market Laser Energetics' BrightStar(TM) Alexandrite laser for the dental application of cleaning teeth below and above the gum line. Hygenilase, Inc. is owned equally by Laser Energetics, Inc. and Lantis Laser, Inc.
Previously, Laser Energetics received an order from the joint venture for an Alexandrite development laser, and a cost-to-manufacture study to evaluate the cost of manufacturing the new compact Alexandrite laser for a specification needed to address the dental market. The study was successfully completed.
Robert D. Battis, Chairman and Chief Executive Officer of Laser Energetics, said, "We intend to use this Joint Venture transaction as a model for future business relationships with other companies in different medical laser market segments. Upon formation of new joint ventures, we will receive cash up front for the design and manufacture, and share in the profits generated with our partners' sales and marketing expertise in the particular market they serve."
Battis continued, "In this Joint Venture our goal is to take LEI's expertise in Alexandrite lasers and combine it with the expertise that Lantis Laser has in the field of dentistry. It is estimated that there are 100,000 dental offices in the US, and another 100,000 offices in Europe, Japan and other first world countries. Our expectation is that we will be selling BrightStar(TM) into this market at a price that is highly competitive and profitable. We expect to be in a position to make several announcements regarding these developments in the near future."
About Laser Energetics, Inc.: LEI has and continues to develop a comprehensive and strategic laser product line that addresses applications in Industry, Science, Medicine and the Military. The Company has had a primary focus on its Alexandrite laser technology. These tunable solid state lasers are unique in that they can be conductively air cooled to compete favorably against water cooled lasers in many applications. In addition, these lasers have one of the greatest wavelength tuning ranges with a bandwidth of over 250nm. The company is pursuing markets that are diverse yet can use the same laser with their compact user friendly design. This laser technology provides a sustainable advantage over many other lasers because of their tune-ability, conductively air cooled operation, and their efficiency allowing these lasers to operate at preferred lower voltages such as 110 Volts as well as the military standard 28 VDC, as compared to other less efficient competitive lasers that are large and need 220 Volts to operate.
Safe Harbor: Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the safe harbors created thereby. The Company is a development stage company who continues to be dependent upon outside capital to sustain its existence. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.
|SOURCE Laser Energetics, Inc.|
Copyright©2008 PR Newswire.
All rights reserved