Dr. Michael Lebby to Host Corporate Update Presentation, Tour of Englewood Facility and Live Device Demonstration Following Annual Meeting of Shareholders on May 22, 2024 ENGLEWOOD, Colo., May 13, 2024 /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 in a small form factor, today provided a corporate update in conjunction with the filing of its Quarterly Report on Form ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________ FORM 10-Q ____________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________to _____________ Commission File Number 001-40766 Lightwave Logic, Inc. (Exact name of registrant as s ...

Integrated Photonics System Roadmap Defines and Creates Future PIC Technology and Systems Requirements for Industry that Span out to 2040 ENGLEWOOD, Colo., April 16, 2024 /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 in a small form factor, substantially contributed to the recently published "Integrated Photonics System Roadmap – International" (IPSR-I) to accelerate ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________________to________________________ Commission file number: 001-40766 Lightwave Logic, Inc. (Exact name of registrant as specified in its charter) | Nevada | 82- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________ FORM 10-Q ____________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________to _____________ Commission File Number 001-40766 Lightwave Logic, Inc. (Exact name of registrant ...

Financial Performance - The net loss for the six months ending June 30, 2023, was $10,933,765, compared to a net loss of $7,358,359 for the same period in 2022, reflecting an increase in loss of about 48.5%[18] - Loss per share for the six months ending June 30, 2023, was $(0.10), compared to $(0.07) for the same period in 2022, indicating a worsening in per-share loss[18] - The net loss for the six months ending June 30, 2023, was $10,933,765, compared to a net loss of $7,358,359 for the same period in 2022, representing an increase in loss of approximately 49%[29] - Net cash used in operating activities for the six months ending June 30, 2023, was $7,004,008, compared to $5,298,715 for the same period in 2022, indicating a 32% increase in cash outflow[29] - The company commenced commercial operations in May 2023 and has not generated sufficient revenues to cover operating expenses, incurring substantial net losses since inception[210] Assets and Liabilities - Total assets increased to $40,552,039 as of June 30, 2023, up from $29,263,472 at December 31, 2022, representing a growth of approximately 38.5%[17] - Cash and cash equivalents rose to $32,635,787, an increase of 35.4% from $24,102,151 at the end of 2022[17] - Total liabilities decreased to $3,775,958 from $1,710,449, a reduction of approximately 78.5%[17] - The total stockholders' equity rose to $36,776,081 as of June 30, 2023, compared to $27,553,023 at the end of 2022, an increase of about 33.5%[17] - The company has no debt to service, which positions it favorably for future growth and operational expansion[48] Expenses - Research and development expenses for the three months ending June 30, 2023, were $4,166,110, up 49.8% from $2,781,215 in the same period of 2022[18] - General and administrative expenses increased to $1,174,590 for the three months ending June 30, 2023, compared to $987,137 in the same period of 2022, marking an increase of approximately 19%[18] - Total operating expenses for the three months ended June 30, 2023, were $5,340,700, a 42% increase from $3,768,352 in the prior year[212] - Research and development salary expenses increased by $498,383 in the three months ended June 30, 2023, compared to the same period in 2022[213] - Non-cash stock option amortization expenses increased by $204,269 in the three months ended June 30, 2023, compared to the same period in 2022[213] Capital Raising and Stock Issuance - The company issued 2,575,400 common shares to institutional investors, raising approximately $14,950,409 in additional paid-in capital during the six-month period ending June 30, 2023[21] - The company raised $14,950,409 from the issuance of common stock to an institutional investor during the six months ending June 30, 2023, compared to $6,705,693 in the same period of 2022, marking a 123% increase[29] - The institutional investor purchased 1,795,455 shares of common stock for proceeds of $11,103,102 from February 28, 2023, to June 30, 2023[81] - The company issued 37,670 shares of common stock as additional commitment fees, valued at $264,874 during the same period[81] Commercial Operations and Agreements - The first commercial agreement was established in May 2023, involving a four-year material supply and license agreement, with a minimum annual royalty of $50,000[49] - No revenues were recognized for the three and six months ending June 30, 2023, as the licensee did not requisition material; however, an up-front licensing fee of $50,000 was recorded as deferred revenue[50] - The company commenced commercial operations in May 2023 with a material supply license agreement to provide Perkinamine chromophore materials for polymer-based photonic devices and photonic integrated circuits (PICs)[116] Research and Development - The company is developing optical devices using proprietary electro-optical polymer material, with multiple generations of new materials being optimized for specific designs[119] - The company is actively engaging with test equipment manufacturers and industry bodies to promote its roadmap and fine-tune its business model[209] - The company has established an Advisory Board to enhance product positioning and support expansion into billion-dollar markets, leveraging the expertise of industry leaders[148] Market and Product Development - The company aims to scale high-performance polymer optical engines quickly and efficiently through partnerships with silicon-based foundries[103] - The company is targeting applications in fiber optic data communications and telecommunications markets, with plans to explore automotive/LIDAR and sensing applications[105] - The company has developed a polymer platform that is scalable, allowing for high-speed data rates while reducing costs and power consumption, which is crucial for competitive performance metrics[137] Intellectual Property and Patents - The company received U.S. Patent number 10,591,755, which allows electro-optic polymer modulators to operate with low power directly from CMOS IC chips, reducing the need for high-speed modulator driver ICs[162] - The company acquired polymer technology intellectual property assets from BrPhotonics, enhancing its patent portfolio with 15 new patents related to electro-optic polymer technology[144] - The company received U.S. patent number 11,042,051 for a new device design that lowers power consumption and enhances reliability for mass-volume manufacturing[168] Performance Metrics and Achievements - The company announced a world-record performance for a polymer modulator, achieving 220 Gbit/s OOK and 408 Gbit/s 8PAM in an optical transmission experiment[173] - Enhanced photostability results were reported, demonstrating no performance change after 3000 hours of high-intensity optical power exposure[181] - The company achieved a world record demonstration of a 250 GHz super high bandwidth electro-optical-electrical (EOE) link, showcasing a 500 GHz setup-limited bandwidth[187]

Financial Performance - The net loss for the three months ending March 31, 2023, was $5,476,018, compared to a net loss of $3,555,761 for the same period in 2022, indicating an increase in loss of 54%[20] - Net loss increased by 54% to $5,476,018 for the three months ended March 31, 2023, compared to $3,555,761 for the same period in 2022[195] - Other income (expenses) decreased significantly by 600% to $(316,141) for the three months ended March 31, 2023, compared to $(45,193) for the same period in 2022[194] - The company reported a net cash used in operating activities of $3,748,656 for the three months ending March 31, 2023, compared to $2,545,689 in the same period of 2022[24] - For the three months ended March 31, 2022, net cash used in operating activities was $2,545,689, primarily due to a net loss of $3,555,761 adjusted by various expenses[212] Research and Development - Research and development expenses rose to $3,799,707 for the three months ending March 31, 2023, up from $2,625,138 in the prior year, reflecting a 44.7% increase[20] - Research and development expenses increased by 45% to $3,799,707 for the three months ended March 31, 2023, compared to $2,625,138 for the same period in 2022[188] - The company is focused on developing next-generation photonic devices and expects to generate revenue from technology licensing and direct sales of electro-optic device components[29] - The company is focused on commercializing its next-generation electro-optic photonic devices based on its PIC™ technology platform, which includes Polymer Stack™, Polymer Plus™, and Polymer Slot™[90] Cash and Assets - Total current assets increased to $26,871,412 as of March 31, 2023, compared to $25,355,616 at December 31, 2022, representing a growth of 5.96%[18] - Cash and cash equivalents at the end of the period were $26,168,214, an increase of 8.7% from $24,102,151 at the beginning of the period[24] - As of March 31, 2023, cash and cash equivalents totaled $26,168,214, with total assets of $30,810,139 and liabilities of $976,973, resulting in stockholders' equity of $29,833,166[211] - Total stockholders' equity increased to $29,833,166 as of March 31, 2023, from $27,553,023 at December 31, 2022, marking a growth of 8.25%[18] Financing Activities - The company issued common stock to institutional investors, raising $5,499,377 during the three months ending March 31, 2023[24] - For the three months ended March 31, 2023, net cash provided by financing activities was $5,525,127, consisting of $25,750 from options and warrants exercise and $5,499,377 from resale of common stock to an institutional investor[211] - The company has entered into a purchase agreement to sell up to $30,000,000 of common stock over a 36-month period, with $26,999,998 remaining available as of April and May 2023[40] - The company received $5,499,377 in proceeds from the 2021 Purchase Agreement during the three months ended March 31, 2023[198] Expenses - General and administrative expenses rose by 54% to $1,360,170 for the three months ended March 31, 2023, compared to $885,430 for the same period in 2022[188] - Legal expenses increased by $239,406 for the three months ended March 31, 2023, compared to the same period in 2022[193] - The Company expects to incur approximately $1,675,000 in expenditures per month over the next 12 months[200] - The company anticipates cash requirements to increase as it expands research and development efforts and hires additional staff[202] Market and Product Development - The company is currently in various stages of development and evaluation with potential customers and strategic partners, indicating ongoing market expansion efforts[29] - The company aims for its initial modulator products to operate at symbol rates of at least 112 Gigabaud, translating to approximately 200 Gbps with PAM4 encoding[105] - The ridge waveguide modulator, Polymer Stack™, is designed for fiber optics communications and targets aggregated data rates of 800 Gbps and above, with a market opportunity worth over $2 billion over the next decade[109] - The company is developing a multichannel Polymer Photonic Integrated Circuit (PIC™) platform to address markets with aggregated data rates of 100 Gbps, 400 Gbps, and 800 Gbps[116] Intellectual Property and Innovation - The company is continually strengthening its patent portfolio through internal inventions and acquisitions[92] - The company acquired polymer technology intellectual property assets, enhancing its patent portfolio with 15 new patents related to electro-optic polymer technology[129] - The company received a patent for multi-layered electro-optic polymer modulators, improving performance and reliability in fiber optic communications[141] - The company received U.S. Patent number 10,591,755, enabling electro-optic polymer modulators to operate with high speed and low power directly from CMOS IC chips, reducing costs and power consumption[145] Corporate Developments - The company appointed Dr. Craig Ciesla to its Board of Directors, bringing significant industry experience to the leadership team[159] - The company was added to the Russell 3000 Index on June 27, 2022, which is expected to broaden its institutional investor base[167] - The company’s common stock was added to the Solactive EPIC Core Photonics EUR Index NTR, enhancing its credibility and exposure in the capital markets[149]

Technology and Performance - Lightwave Logic's polymers switch light very fast, making them ideal for a faster, lower power internet[20] - Polymer modulators have transformational performance headroom for at least a decade, extending speeds and reducing power consumption[21] - Polymer slot modulators have the potential for 30x data capacity in the same pluggable formfactor, and potentially up to 60x with increased density[53] - A third-party review demonstrated world-record performance for electro-optic polymer silicon slot modulators[90] Market and Opportunity - The photonics components market is estimated to reach ~$60-80 billion by 2030[37] - The optical transceivers market TAM is estimated at $7 billion in 2022, growing to ~$40-60 billion by 2030[37] - Data center electricity usage is expected to reach 1,137 TWh by 2030, highlighting the need for lower power solutions[32] Business Strategy and Partnerships - Lightwave Logic is pursuing prototype testing for future modulator sales as part of a silicon photonics (PIC) platform[59] - The company is negotiating supply agreements for polymer materials to generate licensing royalties[59] - Lightwave Logic is discussing technology transfer as part of a process development kit (PDK) with CMOS/silicon foundries[59] - The company has a robust intellectual property portfolio with 70+ patents and patent applications[72]

| --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------------------------------------------|------------------|-------|-------| | | | | | | | | | | | | | | | | | | | | | Faster by Design | | | | | | | Investor Presentation Michael Lebby, CEO | | | | | | | | Lightwave Logic (NASDAQ:LWLG) | | | | Safe harbor NASDAQ: LWLG • 2 The information in this presentation may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identi ...

Financial Performance - Lightwave Logic, Inc. had no revenues for the years ended December 31, 2022, 2021, and 2020, as it is in various stages of photonic device and materials development [297]. - Net loss for the year ended December 31, 2022, was $17,230,480, a decrease of 8% from $18,631,381 in 2021 [310]. - Research and development expenses for the year ended December 31, 2022, were $12,805,374, an increase of 3% from $12,476,040 in 2021 [298]. - Research and development expenses increased by $7,885,495 (172%) from $4,590,545 in 2020 to $12,476,040 in 2021 [298]. - General and administrative expenses decreased to $4,334,290 for the year ended December 31, 2022, down 4% from $4,520,403 in 2021 [298]. - Other income (expenses) improved significantly, decreasing to $(90,816) in 2022 from $(1,634,938) in 2021, a reduction of 94% [308]. Cash Flow and Financing - Net cash used in operating activities for 2022 was $10,465,880, primarily due to the net loss adjusted by various expenses [324]. - Cash and cash equivalents as of December 31, 2022, totaled $24,102,151, with total assets of $29,263,472 and stockholders' equity of $27,553,023 [326]. - The company received $12,775,268 in proceeds from the 2021 purchase agreement with an institutional investor during 2022 [315]. - Net cash provided by financing activities for 2022 was $13,345,141, consisting of proceeds from the exercise of options and warrants and resale of common stock [326]. - The 2021 Purchase Agreement allows the company to sell up to $33 million of common stock over a 36-month period, with $2,126,557 remaining as of the latest filing [314]. - The 2023 Purchase Agreement enables the company to sell up to $30 million of common stock over a 36-month period, with $30 remaining as of the latest filing [314]. - The company anticipates cash used in operations will continue to increase in 2023 due to planned activities and expansion efforts [319]. - The company had no debt to service as of the latest reporting period [318]. Investment and Assets - Net cash used by investing activities was $217,984 for the year ended December 31, 2020, primarily for intangibles and asset additions for the new Colorado headquarters and labs [333]. - Net cash provided by financing activities was $6,162,093 for the year ended December 31, 2020, including $1,658,442 from warrant exercises and $5,173,300 from common stock resale [334]. - As of December 31, 2020, cash and cash equivalents totaled $3,306,590, with total assets of $7,366,778 and stockholders' equity of $5,775,446 [334]. - As of December 31, 2022, cash and cash equivalents increased to $24,102,151, indicating strong liquidity [336]. Business Strategy and Market Focus - The company aims to partner with silicon-based foundries to scale volume quickly and efficiently for its polymer modulator devices [287]. - The patent portfolio is being optimized through traditional product development, patent licensing, and technology transfer to foundries [288]. - The company anticipates revenue streams from technology licensing agreements, joint ventures, and direct sales of electro-optic device components [290]. - Lightwave Logic is targeting applications in fiber optic data communications and telecommunications, with plans to explore automotive/LIDAR and sensing markets [289]. - The company expects initial modulator products to operate at symbol rates of at least 112 Gigabaud, equating to roughly 200Gbps with PAM4 encoding [293]. Risk Management - The company does not use market risk sensitive instruments for hedging or trading purposes, minimizing financial market risk exposure [338]. - A 10% change in interest rates as of December 31, 2022, would not have materially affected the fair value of the investment portfolio [337].