MERCERVILLE, N.J., Jan. 31 Laser Energetics,Inc. (Pink Sheets: LNGT) today provided an update to shareholders on thestatus of its joint venture with Lantis Laser for the sales and marketing ofits BrightStar(TM) Laser for dental applications. The update was provided toclear up some confusion about the transaction that has been expressed by someshareholders.
Robert D. Battis, CEO of Laser Energetics, stated, "We are not placingorders to ourselves through a newly formed entity that we created. Rather,HyGeniLase, Inc., which is a joint venture between LEI and Lantis, has its owncapital and corporate existence. LEI is not responsible for fundingHyGeniLase, and HyGeniLase has already begun making payments to LEI. Thatresponsibility belongs to Lantis, who has already arranged for funding, and isfurther contemplating taking HyGeniLase public."
Battis continued, "LEI will supply HyGeniLase on a cost plus basis onevery laser system sold to HyGeniLase. In addition to the profit LEI makes onthe laser system sale, LEI will, by virtue of being a shareholder, share inadditional profits that HyGeniLase will generate from its sales through itsworldwide distribution channels. As a result, because of the largeranticipated sales, LEI will effectively generate more profit for every systemsale to HyGeniLase than it could otherwise generate by not working with adental Company such as Lantis."
"We hold ourselves to the highest ethical standards, and will only enterinto those transactions which are in the best long term interest of thecompany. The HyGeniLase transaction meets that exacting requirement. Theinvolvement of Lantis, whose management have an intimate knowledge of thedental field, opens a new market for LEI that we would have otherwise had toignore at the present time because of our limited size. HyGeniLase isnegotiating some significant contracts at this time, and we look forward tomaking additional exciting announcements in the very near future."
About Laser Energetics, Inc.: LEI has and continues to develop acomprehensive and strategic laser product line that addresses applications inIndustry, Science, Medicine and the Military. The Company has had a primaryfocus on its Alexandrite laser technology. These tunable solid state lasersare unique in that they can be conductively air cooled to compete favorablyagainst water cooled lasers in many applications. In addition, these lasershave one of the greatest wavelength tuning ranges with a bandwidth of over250nm. The company is pursuing markets that are diverse yet can use the samelaser with their compact user friendly design. This laser technology providesa sustainable advantage over many other lasers because of their tune-ability,conductively air cooled operation, and their efficiency allowing these lasersto operate at preferred lower voltages such as 110 Volts as well as themilitary standard 28 VDC, as compared to other less efficient competitivelasers that are large and need 220 Volts to operate.
Safe Harbor: Statements regarding financial matters in this press releaseother than historical facts are "forward-looking statements" within themeaning of section 27A of the Securities Act of 1933, Section 21E of theSecurities Exchange Act of 1934, and as that term is defined in the PrivateSecurities Litigation Reform Act of 1995. The company intends that suchstatements about the Company's future expectations, including future revenuesand earnings, technology efficacy and all other forward-looking statements besubject to the safe harbors created thereby. The Company is a developmentstage company who continues to be dependent upon outside capital to sustainits existence. Since these statements (future operational results and sales)involve risks and uncertainties and are subject to change at any time, theCompany's actual results may differ materially from expected results.