Dr. Venkatesan said that the Company's business model is expected to include a long-proven mixture of product sales and licensing; organic growth and acquisition; and direct and indirect sales. The Company also expects to go to market primarily with partners -both in sales and manufacturing. Typifying the latter is the Company's recent VCSEL Manufacturing Services Agreement with a commercial foundry.

"Our partnerships bring scalable manufacturing and custom VCSEL foundry capabilities that we need to accelerate our lab-to-fab migration," said Dr. Venkatesan. "We are on-plan to begin transferring our proprietary technology in this year's Q4, which begins tomorrow - as well as to demonstrate integrated VCSEL prototypes in the second quarter of 2016."