Lumenon Appoints Michael Wong, VP of IBM Canada, to Board of Directors.Business Editors ST. LAURENT, Quebec--(BUSINESS WIRE)--April 11, 2002 Lumenon Innovative Lightwave Technology, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on NM: LUMM), a manufacturer of high-quality optical devices for the global telecommunications, data communications data communications, application of telecommunications technology to the problem of transmitting data, especially to, from, or between computers. In popular usage, it is said that data communications make it possible for one computer to "talk" with another. and cable markets, announced today that Michael Wong Michael Wong is the name of:
Mr. Wong is Vice President of IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) Canada responsible for the Bromont Manufacturing Facility. IBM Bromont is one of Canada's leading technology manufacturing sites known and respected on an international basis. As IBM's largest semi-conductor packaging facility, it produces the majority of IBM's value-added assembly and test requirements for its technologically complex products. In announcing Mr. Wong's appointment to the Board of Directors, Gilles Marcotte, Chairman of the Board of Directors of Lumenon, said, "We are pleased to have someone with Mr. Wong's significant management and manufacturing operations Manufacturing operations concern the operation of a facility, as opposed to maintenance, supply and distribution, health, and safety, emergency response, human resources, security, information technology and other infrastructural support organizations. expertise join our Board. We believe his extensive experience in the semi-conductor industry will complement and enhance the skills of our Board of Directors and management team. We also believe that his advice will be beneficial in helping us to accomplish our strategic goals. With our recent Northrop Grumman Northrop Grumman Corporation (NYSE: NOC) is an aerospace and defense conglomerate that is the result of the 1994 purchase of Grumman by Northrop. The company is the third largest defense contractor for the U.S. agreements, our successful exhibition at the recent Optical Fiber Communication Conference and the addition to our Board of Mr. Wong, we feel that Lumenon is building momentum within the industry." "Joining a company that is applying processes from the semiconductor industry within the photonics industry is very exciting for me. It allows me to understand the next generation of communication and information technology while contributing to a vibrant development stage company with lots of potential," stated Mr. Wong. Mr. Wong is a professional engineer and holds a Masters Degree in Business Administration from McGill University McGill University, at Montreal, Que., Canada; coeducational; chartered 1821, opened 1829. It was named for James McGill, who left a bequest to establish it. Its real development dates from 1855 when John W. Dawson became principal. , a Masters in Mechanical Engineering from McMaster University McMaster University, at Hamilton, Ont., Canada; nondenominational; founded 1887. It has faculties of humanities, science, social sciences, business, engineering, and health sciences, as well as a school of graduate studies and a divinity college. and a Bachelor of Engineering Bachelor of Engineering (commonly abbreviated as BE or BEng) is an undergraduate academic degree awarded to a student after three to five years of studying engineering at an accredited university in Australia, Canada, China, Finland, Germany, India, Ireland, Korea, (mechanical) from McGill. About Lumenon Innovative Lightwave Technology, Inc.: Lumenon Innovative Lightwave Technology, Inc. designs, develops and builds optical components and integrated optical devices in the form of packaged compact hybrid glass and polymer circuits on silicon chips. These photonic Dealing with light (photons). See photon and photonics. devices - based upon Lumenon's patented PHASIC(TM) design process and manufacturing methodology - offer communications providers the ability to dramatically boost bandwidth for today's burgeoning telecommunication, data communication and cable industries. For more information about Lumenon Innovative Lightwave Technology, Inc., visit the Company's Web site at www.lumenon.com. Any statements in this press release about future expectations, plans and prospects for the Company, including statements containing the words "believes," "anticipates," "plans," "expects," "will," and similar expressions, constitute forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: that we are a development stage company with no experience in manufacturing and marketing our products; that we have a significant number of outstanding convertible notes, warrants and options, the exercise or conversion of which could decrease the price of our common stock; that several of our agreements entitle third parties to receive a specified portion of the revenues that we would otherwise receive upon the sale of our products and this may decrease our profitability; that we may be unable to obtain funding to meet our future capital needs, which could cause us to delay or abandon some or all of our anticipated spending, cut back our operations, sell assets or license our technologies to third parties; that there are significant risks associated with the manufacture of our products; that the markets in which we compete are highly competitive and subject to rapid technological change; that we may not be able to compete successfully if we are unable to adapt to new technologies and successfully develop new and evolving products which may lead to reduced sales of our products, reduced revenues and reduced market share; and other factors discussed in our most recent quarterly report filed on Form 10Q with the Securities and Exchange Commission on February 14, 2002. You may register to receive Lumenon's future press releases or to download a complete Digital Investor Kit(TM) including press releases, regulatory filings and corporate materials by clicking on the "Digital Investor Kit(TM)" icon at www.kcsa.com. |
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