MERCERVILLE, N.J., June 17 /PRNewswire-FirstCall/ -- Laser
Energetics, Inc. (Pink Sheets: LNGT) announced today that the
company has contracted with General Dynamics Armament and Technical
Products, a business unit of General Dynamics (NYSE: GD), for the
manufacture of the Dazer Laser for Laser Energetics.
"This is one of the most important business developments in the
history of our company," stated Robert D.
Battis, Founder and CEO of Laser Energetics. "It's
rare that a company of our size has the privilege to partner with a
leading defense company like General Dynamics. Most
importantly for shareholders, Laser Energetics no longer has to
establish our own manufacturing facility for the Dazer Laser™.
This is a huge benefit to shareholders and the Company in
several ways. Laser Energetics will not have to raise
millions of dollars on a dilutive basis to build out the
high-quality production line that exists at General Dynamics
Armament and Technical Products, and we will be able to ramp up
production in lock-step with sales, helping to ensure our ability
to meet customer demand in a timely fashion."
Battis continued, "This manufacturing relationship will enable
Laser Energetics to close sales with militaries and law enforcement
agencies in the US and around the world much faster."
About Laser Energetics:
Laser Energetics has and continues to develop a comprehensive
and strategic laser product line that addresses laser applications
in Industry, Science, Medicine, Homeland Security and the Military.
The Company has had a primary focus on its Alexandrite laser
technology
About General Dynamics Armament and Technical Products:
General Dynamics Armament and Technical Products, an operating
unit of General Dynamics, is a proven systems integrator of defense
products for all branches of the U.S. Department of Defense and the
Ministries of Defense of over 30 allied nations.
General Dynamics Armament and Technical Products is located in
Charlotte, N.C. and provides a
broad range of system solutions for military and commercial
applications. The company designs, develops and produces
high-performance weapon and armament systems, defensive armor,
countermeasure systems and aerospace composite solutions, as well
as off-road axle and suspension systems. It is also a leading
U.S. producer of biological and chemical detection systems.
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.