I am pleased to announce that today I received the first shipment of bulbs from Shenzhen Jinyi Display. The bulbs are all tested, qualified and look great. There are no issues with which we need to contend.
We are now finishing 400 additional bulbs for testing and qualification. So long as this next batch meets expectations, we will commence mass production. To guarantee work is done expeditiously, we are currently working out the details of the next purchase order to Shenzhen Jinyi. Every effort is being made to guarantee components are available and ensure no time is lost.
I wish to repeat, there are no issues with the bulbs. They are fully functional, have perfect color and are fully dimmable. There were also no issues with the shipping. Provided the next batch tests the same—and we have every reason to expect they will—we will be ready to move forward.
Our team of engineers and the senior management at Shenzhen Jinyi deserve great credit for propelling us this much closer to the finish line. We expect to cross that line soon (in the next week or so) and commence manufacturing. Again, we wish to thank our shareholders, channel partners and potential channel partners for your confidence and patience.
William B Smith
Chairman and CEO