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.
Here's the description from company's SEC filing:
OVERVIEW
We are a Nevada corporation that was incorporated on May 17, 2000. We were founded to design, develop, market and sell advanced lighting systems that utilize light emitting diodes as illumination elements. White diodes are a relatively new phenomenon that offer major advances in illumination technology. Our diodes consume 92% less energy than incandescent counterparts to produce comparable light output. In electrochemical (battery powered) applications, this diminution of energy consumption positions our lighting solutions as more durable and reliable than other interim lighting alternatives. In standard alternating current electrical applications, the calculated life of LEDs as lighting elements is over 20 years versus 750 hours for traditional incandescent light bulbs. These exceptional performance characteristics, diminutive energy consumption and extended life, have prompted diode implementation in traffic lights and automotive brake lights, but have not yet significantly occurred in our area of focus, diodal illumination (tm). Diodal illumination is the production of light through the use of white light emitting diodes. A light emitting diode is a chemical compound that produces a visible light when an electrical current is applied. This production of light through a diode is contrasted with light from a typical light bulb, in which light is produced as a by-product of a burning filament contained within a vacuum globe. The diode uses 92% less energy to produce comparable light to that of a traditional light bulb.
To address the tremendous opportunity in the $12 billion general lighting market, we have developed a line of LED lighting products and fixtures for residential, commercial, military and homeland security markets, including kitchen and closet task lighting and emergency lighting products. We design and engineer products that adapt technology advancements from semiconductor manufacturers, including Cree, Inc., for use by the general public and military.
We have created breakthrough solid-state lighting technology that provides energy efficient and cost effective lighting solutions. Several products are designed to address emergencies, such as power outages and critical security lighting needs. Other products bring “heatless” light into the home for closets, cabinets, bookcases and counters. The solid-state semiconductors, trademarked by Cyberlux as diodal™ lighting elements, consume 92 percent less energy than conventional incandescent lighting elements and perform for more than 10 years in contrast to 750 hours for traditional light bulbs.
We believe our solid-state lighting is superior to traditional lighting in several ways:
1) Energy Consumption -our lighting currently consume 75% less energy than traditional incandescent bulbs and 30% less energy than most fluorescent bulbs.
2) Virtually Heatless - The lighting elements do not “burn” a filament or gas to create light. Therefore, they do not have the extreme heat of incandescent or gas (xenon) bulbs.
3) Longevity -Our lighting systems have been shown to last up to 20 years versus hundreds of hours for incandescent bulbs. Properly conditioned units can tolerate endless oOn/off cycles.
4) Semiconductor Based - Lighting element efficiencies have been increasing consistently and industry experts believe the efficiency gains will continue (i.e. follow Moore’s Law). Additionally, they can be incorporated into control systems.
5) Nearly Impervious to Vibration - Solid-state technology means not as many moving pieces, vacuums or glass.
6) Small Footprint - Does not require the ballast like fluorescent bulbs or large receptacles like incandescent bulbs.
These efficiencies result in our lighting systems being less expensive than conventional bulbs or tubes in total cost of ownership.
Our target markets include retail; 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.
We are a solid-state lighting technology and product development company that focuses on delivering unique lighting solutions to market with the most advanced semiconductor, power and LED technology. Recently, through our strategic partnership with UTEK, a specialty finance company focused on technology transfer, we acquired the world-wide exclusive rights to two technologies that when combined with our products, create a breakthrough in solid-state lighting capability. Through the combination of the hybrid organic / inorganic white and multi-color lighting technology acquired from the University of California-Santa Barbara and the Scattered Photon ExtractionTM (SPE) technology acquired from Rensselaer Polytechnic Institute, we will commercialize the resulting proprietary lighting technology as “Hybrid White Light” (HWL) and “Hybrid Multi-color Light” (HML). The resulting lighting technology will yield a lower cost, more energy-efficient lighting source than currently available in solid-state light-emitting diode (LED) solutions.
With today's best white LEDs operating at 75 lumens per watt range, the HWL technology will produce up to 225 lumens per watt. While the best LED performance today represents 5 times better energy efficiency than current light bulbs, our HWL technology will improve efficiency by an additional 300 percent.
