Cyberlux was founded in 2000 in the state of Nevada. The company engages in the business of designing, manufacturing and selling light-emitted diode (LED) - a lighting solution that surpasses the performance capabilities of conventional bulbs of today. Their products are less expensive than conventional light bulbs and emits nearly no heat making them less energy consuming than common household bulbs or fluorescent lighting systems. Cyberlux also offers portable lights based on the same technology. More about products variation can be found here .
With their products the company is targeting homeland security; long-term building and industrial, commercial and institutional emergency lighting; military; intensive outdoor maintenance; kitchen/bath task and accent lighting and landscape market.
Cyberlux has various competitors, although it seems to have a lead on the LED technology in the retail market. In the Military and Homeland Security markets, the company is relatively without immediate competition. Also they have recently been awarded a supplier agreement from The Boeing Company. Cyberlux on demand will supply lighting systems for intended use along the Mexican and Canadian borders as an added level of security.
On August 21, 2007 the company announced it was on the projected track of revenue for 2007. They have even stated a possibility of exceeding the projections. However looking at the current balance sheet and income statement it doesn’t seem so. On June 30, 2007 they have announced revenue of $174 thousand which was 255% more than previous quarter. Despite the current increase their revenue has actually been decreasing since September, 2006 when it was $223 thousand. The cost of revenue as well as their general expenses remains considerably high which leaves the company with an increasing debt. Although net loss was decreasing and even turned into income previous quarter, this quarter the company has experienced the net loss of $14 million – making this one of the worst quarters in the company’s financial history. Both stockholders equity and tangible assets decreased 40% and 49% to $-22 and $-25.4 million respectively.
Over the year Cyberlux has issued a lot of new shares diluting the stockholders. The recent short price increase was due to spam campaign. It seems currently company is far overvalued as it is very heavy leveraged and forward projections only show further decrease of value.
