Lightwave Logic(LWLG) - 2019 Q1 - Quarterly Report

Financial Performance - Net loss for the three months ending March 31, 2019, was $2,018,778, compared to a net loss of $1,513,399 for the same period in 2018, indicating an increase in loss of approximately 33.3%[19] - Basic and diluted loss per share for the three months ending March 31, 2019, was $0.03, compared to $0.02 for the same period in 2018[19] - Net loss increased by $505,379 to $2,018,778 for the three months ended March 31, 2019, compared to a net loss of $1,513,399 for the same period in 2018[133] Assets and Equity - Total assets increased to $6,121,273 as of March 31, 2019, compared to $5,451,592 as of December 31, 2018, representing a growth of approximately 12.2%[17] - Total stockholders' equity decreased to $4,812,435 as of March 31, 2019, from $4,907,062 as of December 31, 2018, a decline of approximately 1.9%[17] - Cash and cash equivalents at the end of the period were $2,285,631, an increase from $2,174,625 at the beginning of the period, marking a rise of about 5.1%[24] Research and Development - Research and development expenses rose to $1,152,053 for the three months ending March 31, 2019, up from $901,672 in the same period of 2018, reflecting a growth of approximately 27.8%[19] - The company expects to continue incurring substantial research and development expenses to support commercialization of its photonic devices and materials[117] - The company is developing polymer materials for 100Gbps single-channel operation, with bandwidths exceeding 100GHz demonstrated at an international conference[96] Operating Activities - The company reported a net cash used in operating activities of $1,146,584 for the three months ending March 31, 2019, compared to $1,048,251 for the same period in 2018[24] - Net cash used in operating activities was $1,146,584 for the three months ended March 31, 2019, compared to $1,048,251 for the same period in 2018[136][145] Financing Activities - The company issued 2,000,000 common shares to an institutional investor, raising $1,419,585 in financing activities during the three months ending March 31, 2019[24] - The institutional investor purchased 1,550,000 shares of common stock for proceeds of $1,011,585 during the three-month period ending March 31, 2019[59] - The company signed a Purchase Agreement in January 2019 to sell up to $25,000,000 of common stock, with $24,592,000 remaining available as of March 31, 2019[38] Expenses - Operating expenses for the three months ended March 31, 2019, were $1,720,483, an increase of $244,216 from $1,476,267 in the same period in 2018[114] - General and administrative expenses decreased by $6,165 to $568,430 for the three months ended March 31, 2019, compared to $574,595 for the same period in 2018[125] - Other expenses increased by $261,163 to $298,295 for the three months ended March 31, 2019, from $37,132 for the same period in 2018[132] Strategic Development - The company is focused on developing next-generation photonic devices and non-linear optical polymer materials for high-speed fiber-optic data communications and optical computing markets[28] - The company is in various stages of development and evaluation with potential customers and strategic partners, aiming to secure a revenue stream from datacom and telecom devices[28] - The company aims to grow its commercial device development capabilities and maintain strategic relationships with major telecommunications and data communications companies[86] Future Expectations - The company expects general and administrative expenses to increase in future periods due to higher corporate and administrative activities[131] - The company anticipates incurring approximately $535,000 of expenditures per month over the next 12 months[138]