I have a number of important updates to share this month. First, we have commenced manufacturing after fixing and testing the proper phosphor mix. While delays such as these are irritating (on many levels), they are a reality to be managed and dealt with. The important take away is that the reasons behind the problems are being addressed with actions taken to ensure a problem does not keep repeating itself.
On a more positive note, we received notice that Vu1’s 10th patent has been awarded, leaving one pending. The patent title is System And Apparatus For Cathodoluminescent Lighting, patent application number 13/657,567. This is an important patent. Vu1 has spent an enormous amount of money building and protecting our intellectual property, which will serve us well in the future with potential licensing agreements.
Finally, thanks to our engineers’ forward thinking innovation, we have made spectacular strides with our electronics and hope to be able to drop our watts used from 19 to 12 in the next generation of bulbs. This is an exciting development and we will provide updates as we move forward with this and our other products including the R40 and the A19.
I understand everyone’s frustration with the process and trust me when I say my frustration level matches if not exceeds yours. I understand that repeatedly missing deadlines has damaged our credibility. In my opinion, the best and only way to redeem our position is to focus all our efforts on the task at hand, which is to ship bulbs. I am committed to moving forward on this as quickly as possibly, without sacrificing the quality of our product.
Chairman and CEO