MERCERVILLE, N.J., June 30, 2010 (GLOBE NEWSWIRE) -- Laser Energetics, Inc. (Pink Sheets:LNGT) announced today that the Company has entered into a distribution agreement for its Dazer Laser™ -- Light Fighting Technologies (to be manufactured by General Dynamics - ATP) with AED Capital LLC, an entity formed for the specific purpose of supplying Dazer Lasers™ to the U.S. Military and Law enforcement agencies. The shareholders of AED Capital are former U.S. special operations personnel with an understanding of the modern battlefield and insights on how to focus on the needs of America's forces in the irregular warfare environment.
The shareholders of AED include:
- Peter Wikul is a recently retired Navy Captain with nearly 40 years of service as a Navy SEAL, his last three as the "BULLFROG," a title bestowed on the longest serving active duty SEAL. Peter was hand selected to establish the Navy's first irregular warfare intelligence command at the Office of Naval Intelligence supporting the global war on terrorism. An expert in Middle East affairs, he has made numerous deployments to the Middle East and is a co-recipient of the 1988 Nobel Peace Prize for his peacekeeping work in Lebanon. Peter is actively involved in veteran's work-related issues and has testified before the Senate Veterans Affairs Committee.
- Mark Donald is a retired Navy SEAL and the highest decorated Medical Service Corps officer in the history of the U.S. Navy. He has been deployed worldwide in support of counter-insurgency operations and is one of a handful of Navy combat veterans in the global war on terrorism to be awarded the Navy Cross. As a Physician Assistant and Purple Heart recipient, Mark is engaged in a variety of veteran medical care activities.
- Mike Atkinson is a former Navy SEAL Platoon Commander and veteran of the first Gulf War, with 16 years of institutional investment experience. Most recently, he has been the manager of his own fund, Palmer Square Partners in Princeton, N.J. Mike has a BA from the University of Pennsylvania and an MBA from Columbia University.
- James McKay is a former Navy SEAL who served with Peter Wikul through SEAL training and the early years of his service. After several deployments as a SEAL, James went onto a career in the commercial finance market, running divisions for GE Capital and Bank of America. He has been a principal in two hedge funds since 2003, and is President of the Work First Foundation, which is currently doing landmark research in reducing recidivism of youth offenders through work programs.
Robert D. Battis, Founder and CEO of Laser Energetics, stated, "Our relationship with AED, coupled with our recently announced relationship with General Dynamics Armament and Technical Products, will allow us to rapidly and effectively penetrate the U.S. Military market. In addition, AED will be helping us develop techniques and protocols for the use of Dazer Laser in today's irregular warfare settings, and they will be directly consulting with special ops forces in developing applications for the Dazer Laser. We are excited and fortunate to be working with heroes and patriots like Pete, Mark, Mike, and Jim."
James McKay, Co-Founder of AED, commented, "Our team has first-hand knowledge of the technology and tactics currently being utilized on the battlefield, and we understand the needs and wants of military operatives in this environment. The Dazer Laser is an absolute game-changer in non-lethal technology, and AED wants to be part of it. Our team has been developed to enable our forces to face our adversaries with increased safety, while protecting our friends and troops in today's quickly changing battlefields. This technology will save lives and increase the likelihood of difficult missions being achieved. We are extremely excited about being involved with Dazer Laser, and we look forward to aggressively deploying Dazer Lasers within the US Military, and all other friendly militaries worldwide."
About Laser Energetics, Inc.:
Laser Energetics has and continues to develop a comprehensive and strategic laser product line that addresses laser applications in Industry, Science, Medicine, Homeland Security and the Military. The Company has had a primary focus on its Alexandrite laser technology.
Safe Harbor: Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the safe harbors created thereby. The Company is a development stage company who continues to be dependent upon outside capital to sustain its existence. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.