UCF Business Incubator - Kissimmee St. Patrick's Day Entrepreneur Night!

Lunch & Learn "Banking With Benefits"

TODAY: 2.24.11 / CREOL 102 / 1pm-2pm / OSA Student Chapter Seminar: “How Washington works and why scientists should care” - Greg Shuckman

OSA Student Chapter Seminar: “How Washington works and why scientists should care” - Greg Shuckman CREOL 102 Thursday, February 24, 2011 / 1pm-2pm

Greg Shuckman

Assistant VP for University Relations

With more than 20 years of experience in leadership, advocacy and policy development for postsecondary institutions, associations, and various nonprofit boards and commissions, Greg Schuckman works on behalf of UCF in Washington with a focus on how to improve educational achievement, increase economic opportunity, and enhance access to higher education in our the United States.

Come ready to learn how and why scientists are important to public policy. A brief presentation will be followed by an open discussion, so come with questions!

For More Information:

Matt Weed

OSA Student Chapter President

mweed@creol.ucf.edu

4.6.11 / CREOL 102 / 11-12 / Seminar: “Nanoscale Optics with Negative Metamaterials”– Dr. Sridhar

Seminar: “Nanoscale Optics with Negative Metamaterials”– Dr.

Sridhar

CREOL 102

Wednesday, April 6, 2011 / 11:00am-12:00pm

Srinivas Sridhar

Electronic Materials Research Institute & Department of Physics, Northeastern University, Boston, MA.

Abstract:

Nanoscale optical elements offer the potential of entirely new modalities of superresolution imaging, superfocussing and slow light utilizing the unique properties of negative metamaterials. We discuss our recent work on the experimental demonstration of superresolution imaging using anisotropic nanowire metamaterials. We have also developed new concepts to control the speed of light using metamaterial cladded optical waveguides. These nanoscale metamaterial waveguides offer the prospect of on-chip slow light devices where light speeds are reduced by orders of magnitude, enabling ultra-compact optical delay lines and buffers. The results of this work have potential applications in metamaterials imaging components and optoelectronic systems for military and civilian telecommunication systems.

For More Information:

sagar.physics.neu.edu

TODAY: 2.23.11 / CREOL 102 / 11-12pm / Seminar: "Lasers,Anti-lasers and PT-symmetric Laser-Absorbers" - Dr. Stone

Seminar: "Lasers, Anti-lasers and PT-symmetric Laser-Absorbers" - Dr.

Stone

CREOL 102

Wednesday, February 23, 2011 / 11:00-12:00pm

Dr. A. Douglas Stone

Yale University

Abstract:

A laser is an optical device that transforms incoherent input energy (the pump), into coherent outgoing radiation in a specific set of modes of the electromagnetic field, with distinct frequencies. There is a threshold pump energy for the first lasing mode, and above that energy the laser is a non-linear device and non-linear interactions strongly affect the emission properties of the laser. Surprisingly, the theory of non-linear multimode lasing was quite rudimentary until recently. We describe a new formalism, based on non-hermitian states of the electromagnetic field, which provides a quantitative and tractable description of arbitrarily complex laser systems, including extremely open and non-linear examples, such as random lasers.

Our reformulation of laser theory emphasizes that a laser cavity is a certain kind of scattering system, with a non-unitary amplifying scattering matrix due to the presence of gain. This approach suggested the possibility of constructing a time-reversed or “anti-laser”, which we term a coherent perfect absorber (CPA); a device in which the gain medium of the laser is replaced with a loss medium such that the cavity will perfectly absorb the incoming

(time-reversed) modes of the corresponding laser. Recently we have experimentally demonstrated such a device in a simple silicon cavity, which acts as an absorptive interferometer, in which narrow-band absorption can be both increased to ~ 99% and reduced to ~30%. Finally, the same point of view leads to hybrid devices, containing both gain and loss media, which can function simultaneously as a laser and a perfect absorber for distinct modes of the electromagnetic field. This happens as a result of a spontaneous symmetry breaking transition, which destroys the parity-time-reversal symmetry of the eigenstates of the corresponding S-matrix.

For More Information:

Dr. Demetrios Christodoulides

407-882-0074

demetri@creol.ucf.edu

Osceola County Entrepreneur Summit - Expo Exhibitor Invitation

You’re invited to participate in the Entrepreneur Summit EXPO!

Osceola County

ENTREPRENEUR SUMMIT

April 27, 2011

8:00 AM to 12:00 Noon

Hosted by

Congressman Bill Posey

Florida’s 15^th Congressional District

and

WORKFORCE CENTRAL FLORIDA

1392 E. Vine Street

Kissimmee, FL 34744

Building on the success of two previous summits for entrepreneurs, Congressman Bill Posey (R-Rockledge) will host a third forum in Osceola County to continue to bring together various entrepreneurs from across the 15th Congressional District to showcase their innovative technologies to the public and potential investors.

This event will also feature an exhibition area for entrepreneurial resource agencies to provide information to entrepreneurs attending the Entrepreneur Summit from across District 15. Your organization has been identified as a key resource agency for entrepreneurs scheduled to attend this event.

Thank you for registering your agency to participate in this important event. We look forward to seeing you there. Please confirm your agency’s participation in the exhibition area by contacting Shirley Walker at (407) 531-1222 Ext. #2089 or by e-mailing swalker@wcfla.com and completing the attached registration form no later than Friday, April 1, 2011 at 5:00 pm.

3.1.11 / CREOL 102 / 11-12pm / Seminar: “Complex Photonic Nanostructures and Phenomena” - Dr. Hui Cao

Seminar: “Complex Photonic Nanostructures and Phenomena” - Dr. Hui Cao CREOL 102 Tuesday, March 1, 2011 / 11am-12pm

Hui Cao

Department of Applied Physics, Yale University

Abstract:

Wave optics is an old field of physics that has experienced rapid advances lately. Thanks to modern nanofabrication technology, complex nanostructures such as photonic crystals and metamaterials can be fabricated, and they display unusual optical properties and phenomena.

In this talk, I will focus on our studies of photonic nanostructures of random morphology. I show how we can trap light in such structures to make random lasers. Next, learning from the color generation by nanostructures in bird feathers, we use short-range order to enhance light scattering and confinement in artificial nanostructures. Finally I will introduce our recent work on time-reversed laser - coherent perfect absorber.

Biography:

Hui Cao is a Professor of Applied Physics and of Physics at Yale University. She received a Ph.D. from Stanford University in 1997. Her main interests are in Nanophotonics and quantum optics. Her research focuses on understanding and controlling quantum optical processes in nanostructures, both for fundamental physical studies and for device applications. Professor Cao is a David and Lucille Packard Fellow and an Alfred P. Sloan Fellow. She won the Early CAREER Award from the National Science Foundation, and the Maria Goeppert-Mayer Award from the American Physical Society. She became a fellow of the American Physical Society and a fellow of the Optical Society of America in 2007. She has authored/co-authored one book, three book chapters, three review articles, and over one hundred and thirty journal articles. Cao chaired the OSA Technical Group on Photonic Metamaterials from 2006 to 2008. She served as the program co-chair for 2010 International Conference on Quantum Electronics and Laser Sciences (QELS).

For More Information:

Dr. Ayman Abouraddy

407-823-6809

raddy@creol.ucf.edu

Optigrate recognized as one of Florida's "Companies to Watch"

Congratulations to Optigrate (www.optigrate.com), one of the newest members of the Florida Photonics Cluster, on being one of the 50 companies from 18 Florida counties to have earned a place in Florida’s inaugural class of “Companies to Watch.” The full press release and list of the 50 companies can be viewed at http://eon.businesswire.com/news/eon/20101217006244/en/second-stage;-entrepr

Tiny Ocean Optics' spectrometer sized right for OEM applications

Dunedin, Florida (February 15, 2011) – FPC member Ocean Optics (www.oceanoptics.com) has introduced a family of low-cost, high-performance CMOS detector-based spectrometers that are ideal for embedding into OEM devices. The STS Microspectrometer is available in standard models with 350-800 nm and 650-1100 nm wavelength coverage. Customization of wavelength range, entrance aperture and other optical bench accessories is available for high-volume and OEM customers. To learn more about STS, contact Ocean Optics’ dedicated engineering team www.OceanOEM.com, oem@oceanoptics.com, or +1 727-733-2447

UCF Business Incubator presents: Smart Strategic Planning:What are the keys to a winning strategic plan?

MarketCues SmartPlanT Workshop

Title: Smart Strategic Planning: What are the keys to a winning strategic plan?

Presenter: Tom Marin with MarketCues presenting the SmartPlanT 360 Program

Date: Thursday, February 24, 2011

Time: 11:30 AM - 1:00 PM

Fee: $20, Please pay by check made out to the UCF Research Foundation.

(Free for UCF Business Incubator Clients and Florida Cluster Members)

Location: University Tower

12201 Research Parkway

2nd Floor Large Conference Room

Orlando, Florida 32826

RSVP: Renee Ayala at 407-882-0202 or via email rayala@mail.ucf.edu

The press of the day-to-day often prevents businesses from focusing on their long-term strategic planning needs.

To overcome this challenge, executives of startups to large corporations need to identify and prioritize their most

promising initiatives. We will explore how to use the SmartPlan 360 process to ensure you work within objective

parameters to achieve your business goals.

Tom Marin bio:

Tom Marin is the Managing Partner of MarketCues, a strategic market planning firm. He serves

as a business strategy consultant with 25 years of experience working for first-stage, second

stage and large corporations assisting them with their strategy shifts and strategic growth

programs. Tom has advised private, public and nonprofit clients with high stakes strategy and

growth challenges in a wide range of markets. During his career, Tom has served such notable

companies as Fuji Film, Rand McNally, CNA Insurance Companies and First of America Bank.

TechAmerica Invitation: From the Investment Bankers Perspective

From the Investment Banker's Perspective: The second seminar of this series. Join us for a discussion on exploring different financing alternatives for software and IT service and outsourcing companies. George Shea, FOCUS Partner and Information Technology Team Leader will explain: * What are the three methods of obtaining senior debt financing on intellectual property? * What is subordinated debt/mezzanine financing and is it available, and at what cost? * Understand the rising bar of venture capital. * Learn about private equity and the three key options in this financing category. February 17, 2011 12:00 p.m. - 1:00 p.m. EST Advance registration is required and there is no cost for TechAmerica member company CFOs to attend! Register today! Sue Gonzalez Program Director Mid-Atlantic / Southeast Council TechAmerica sue.gonzalez@techamerica.org www.techamerica.org

2.21.11 / CREOL 102 / 11-12pm / Seminar: “Sparsity-Based Sub-Wavelength Imaging and Super-Resolution in Time and Frequency" - Dr. Moti Segev

Seminar: “Sparsity-Based Sub-Wavelength Imaging and Super-Resolution in Time and Frequency" - Dr. Moti Segev CREOL 102 Monday, February 21, 2011 / 11am-12pm

Moti Segev

Physics Department, Technion - Israel Institute of Technology, Haifa, Israel

Abstract:

We demonstrate the recovery of sub-wavelength optical images based on prior knowledge that the object is sparse, and its analogous concept in the time and frequency domains, recovering temporal features much shorter than the response time of a photodetector and spectral features beyond the resolution of the spectrometer.

Biography:

Moti Segev is a Distinguished University Professor and the Trudy and Norman Louis Professor of Physics, at the Technion - Israel Institute of Technology, Haifa, Israel. He received his B.Sc. and D.Sc. from the Technion, Israel, in 1985 and 1990, respectively. Moti Segev has spent one year at Caltech as a post-doctoral fellow and two more years as a Senior Research Fellow. He joined Princeton in September of 1994 as an Assistant Professor, becoming an Associate Professor in 1997, and a Professor in 1999. In the summer of 1998, Moti Segev went back to his home country, Israel, and joined the Technion, eventually resigning from Princeton in 2000.

Moti Segev's research interests are mainly in Nonlinear Optics, Solitons, Lasers and Quantum Electronics, although he finds much entertainment in more demanding fields such as basketball and hiking. He has more than 250 publications in refereed journals, 11 book chapters, and has given more than 100 invited, keynote, and plenary presentations

at conferences.

Among his most significant contributions are the discoveries of photorefractive solitons, of random-phase solitons (also called incoherent solitons, or self-trapping of solitons made of incoherent white light, the first observation of 2D lattice solitons, and the first experimental demonstration of Anderson localization in a disordered

periodic system.

Moti Segev is a Fellow of OSA and APS. He has won several awards, among them the 2007 Quantum Electronics Prize of the European Physics Society and the 2009 Max Born Award of OSA.

For More Information:

Dr. Demetrios Christodoulides

Professor of Optics/ Provost's Research Enhancement Position (PREP)

407-882-0074

demetri@creol.ucf.edu

Seminar: “Organic Materials Chemistry” - Dr. Charles Lee CREOL 102 Tuesday, February 8, 2011 / 11:00am-12:00pm Dr. Charles Lee AFOSR Contract Manager

Seminar: “Organic Materials Chemistry” - Dr. Charles Lee CREOL 102 Tuesday, February 8, 2011 / 11:00am-12:00pm

Dr. Charles Lee

AFOSR Contract Manager

Abstract:

The research goal of this portfolio is to gain a better understanding of the influence of chemical structures and processing conditions on the properties and behaviors of polymeric and organic materials. An overview of the portfolio will be presented. Current emphases on decoupling coupled properties and materials with switchable properties will be discussed.

For More Information:

Dr. Shin-Tson Wu

407-823-4763

swu@creol.ucf.edu

Feb.24th, UCF CFRP Incubator presents "The Lunch Connection"

Update of "Harnessing Light" report initiated

A public-input phase of a new study on the photonics industry was launched at Photonics West 2011. This study, led by the National Research Council (NRC) and supported by other agencies and organizations as well as SPIE and OSA, will update the "Harnessing Light" survey authored in 1998 by the NRC for the National Academies.
See the following link for more information on the new study:
"Harnessing Light" study: www.spie.org/x44309.xml

The 1998 NRC report is available from the National Academies Press at http://www.nap.edu/catalog.php?record_id=5954

SPIE Photonics West 2011 again has record-breaking attendance!

According to SPIE, the Photonics West event is now the largest photonics meeting in the world. This year's event had the following statistics:

Total Registered Attendance: 19,390 (up 5.8% over 2010)
o 5,500 Conference Attendees (an increase of 12.5%)
o 7,647 Exhibition-Only Visitors (an increase of 5.5%)
o 6,243 Exhibitor Representatives (an increase of .8%)
o 62 Technical Courses and Workshops
o 74 Conferences with 4100 Technical Presentations (an increase of 17%)

The Florida Photonics Cluster (FPC) worked with CREOL, The College of Optics and Photonics and the Florida High Tech Corridor Council (FHTCC) to organize a cluster grouping of 12 companies in the Photonics West exhibition. In addition to these companies, there were 18 other Florida companies exhibiting, 13 of which are FPC members, showing the strength of the industry in Florida.

Review the Daily Post-Show Update for more details and photo galleries.

LPTH Press Release - LightPath Technologies Announces Second Quarter Results

LightPath Technologies Announces Second Quarter Financial Results -Revenues Increase 14% Year-over-Year to $2.53 Million- ORLANDO, FL—February 3, 2011 - LightPath Technologies, Inc. (NASDAQ:LPTH) (“LightPath”, the “Company” or “we”), a global manufacturer, distributor and integrator of patented optical components and high-level assemblies, announced today its financial results for the second quarter ended December 31, 2010. Full details are available in the Company’s Quarterly Report on Form 10-Q filed today with the SEC at http://www.sec.gov/. Second Quarter Highlights: Revenue for the second quarter of fiscal 2011 was $2.53 million, up 14% compared to $2.23 million for the second quarter of fiscal 2010. Backlog scheduled to ship within the next 12 months was $3.3 million as of December 31, 2010, an increase of $323,000 from June 30, 2010. EBITDA for the second quarter of fiscal 2011 decreased to a loss of $45,000 compared to income of $350,000 in the second quarter of fiscal 2010. Cash on hand as of December 31, 2010 was $1.09 million as compared to $1.46 million on June 30, 2010. Net cash flows from operations were positive for the second quarter of fiscal 2011. Gross margin was 40% for the second quarter of fiscal 2011 as compared to 43% for the second quarter of fiscal 2010. Net loss for the second quarter of fiscal 2011 was approximately $374,000 compared to a net income of approximately $42,000 for the second quarter of fiscal 2010. Unit shipment volume in precision molded optics increased 30% in the second quarter of fiscal 2011 compared to the same period of last year. Jim Gaynor, President and Chief Executive Officer of LightPath, commented, "LightPath continues to make significant progress in the execution of our business strategy. We are continuing to increase penetration into the low cost, high volume markets as reflected by the record production set in the second quarter of fiscal 2011 with over 450,000 lenses produced for our customers. We have introduced 11 new catalog lenses and more than 25 custom designed lenses for our customers in the last several months. Our revenue and backlogs are growing, albeit at a slower rate than planned. While we see moderate improvement in the market place, our customers remain cautious and are keeping inventories tight. Net cash flows from operations was positive for the second quarter of fiscal 2011. The majority of the overall decrease in cash was due to purchasing capital equipment to support our growth and continued co st reduction efforts. Gross margin improved to 40% in the second quarter of fiscal 2011, as compared to 37% for the first quarter of fiscal 2011, due to increased production volume. This improvement in gross margin due to the increase in production volume was partially offset by the mix of products shipped during the second quarter. We produced and sold higher volumes of isolators and other telecom products that have a higher material content and lower margin.” Mr. Gaynor further continued,” We continue to position the Company to take advantage of larger markets with low cost high volume applications, value added services and thermal imaging and sensing application designs and products. LightPath is transitioning its business to focus on providing low cost high volume lenses for products such as laser levels, range finders, gun sights and projectors. We are targeting multiple markets including industrial tools, biomedical instruments, communications and imaging with a focus in Asia. During the second quarter we also reduced our debt through the conversion of debentures to shares of common stock by certain debentures holders. As we continue to execute our revenue growth, production efficiencies and cost reduction efforts our margins and cash flow will continue to improve. We are confident in our strategy and see the improvements occurring. In the co ming quarters we remain optimistic and in the long run believe our strategy offers significant financial rewards for the Company and our stockholders.” Financial Results for Three Months Ended December 31, 2010 Revenue for the second quarter of fiscal 2011 totaled approximately $2.53 million compared to approximately $2.23 million for the second quarter of fiscal 2010, an increase of 14%. This increase was primarily attributable to higher sales volumes of isolators, collimators and GRADIUM lenses. Sales of precision molded optics increased as a result of our increased production capability and our pursuit of low cost, high volume lens business. Growth in sales going forward is expected to be derived primarily from the precision molded optics product line, particularly our low cost lenses sold in Asia. Our gross margin percentage in the second quarter of fiscal 2011 compared to the second quarter of fiscal 2010 decreased to 40% from 43%. Total manufacturing costs of $1.53 million were approximately $260,000 higher in the second quarter of fiscal 2011 compared to the same period of the prior fiscal year. Our manufacturing costs were lower in the second quarter of fiscal 2010 due to the favorable impact of a one time accrual reversal in the amount of $69,000 for royalty payments due to the University of Florida. The increase in manufacturing costs, as compared to the same period last year, is a reflection of a product mix change associated with increased sales of isolators and collimators, which have a higher material cost. Unit shipment volume in precision molded optics increased by 30% in the second fiscal quarter of 2011 compared to the same period last year. Direct costs, which include materia l, labor and services increased to 28% of revenue in the second quarter of fiscal 2011, as compared to 26% of revenue in the second quarter of fiscal 2010 due to this product mix change. Gross margins were also lower due to higher material costs as a result of this product mix change. During the second quarter of fiscal 2011, total costs and expenses increased approximately $500,000 to approximately $1.25 million compared to approximately $754,000 for the same period in fiscal 2010. This increase was due to a $40,000 increase in wages, $50,000 for investor relations fees and a $26,000 increase in stock compensation expense due to stock options granted in the third quarter of fiscal 2010. During the second quarter of the prior year, we experienced increased legal costs offset by receipt of $280,000 from our D&O insurance carrier as reimbursement of previously paid legal costs. Also included in total costs and expenses for the second quarter of fiscal 2011 were $997,000 in selling, general and administrative expenses. As a result, total operating loss for the second quarter of fiscal 2011 was approximately $254,000 compared to income of $204,000 for the same period in fiscal 2010. Net interest expense was approximately $120,000 in the second quarter of fiscal 2011 as compared to approximately $163,000 in the second quarter of fiscal 2010. This lower interest expense resulted from conversion by certain investors of their debentures into common stock, including conversions in the second quarter of 2011, which reduced the company’s debt obligation by $100,000 and resulted in the write-off of approximately $56,000 of debt issuance costs, debt discount, and prepaid interest related to those conversions. The 8% convertible debentures issued in August 2008 accounted for nearly all of the interest expense during the quarter ended December 31, 2010, with the balance attributable to amortization of the related debt issuance costs and debt discount, and write off of debt issue costs, prepaid interest and debt discount for debentures converted into shares of common stock during t he second quarter of fiscal 2011. Net loss for the second quarter of fiscal 2011 was approximately $373,000 or $0.04 per basic and diluted common share, compared with a net income of approximately $42,000 or $0.01 per basic and $0.00 per diluted common share for the same period in fiscal 2010. The $415,000 increase in net loss resulted primarily from the $56,000 charge for interest and debt issuance costs associated with the accelerated conversion of a portion of the debentures into shares of common stock, the $280,000 reimbursement received last year from our D&O insurance carrier and increase in wages. Weighted-average basic shares outstanding increased to 9,705,890 in the second quarter of fiscal 2011 compared to 8,163,675 in the second quarter of fiscal 2010 which is primarily due to the issuance of shares of common stock related to the private placement in the fourth quarter of fiscal 2010 and debentures converted t o shares of common stock in the first and second quarters of fiscal 2011. Financial Results for Six Months Ended December 31, 2010 Revenue for the first half of fiscal 2011 totaled approximately $4.78 million compared to approximately $3.78 million for the first half of fiscal 2010, an increase of 26%. This increase from the first half of fiscal 2010 was primarily attributable to higher sales volumes in all product lines, with the majority of the increase in precision molded optics product line, which accounted for 78% of our revenue. This increase in the number of units of precision molded optics sold was due to our increased production capability and our pursuit of low cost, high volume lens business. Growth in sales going forward is expected to be derived primarily from our precision molded optics product line, particularly our low cost lenses sold in Asia. Our gross margin percentage in the first half of fiscal 2011 compared to the first half of fiscal 2010 decreased to 38% from 43%. Total manufacturing costs of $2.96 million were approximately $799,000 higher in the first half of fiscal 2011 compared to the same period of the prior fiscal year. This increase in manufacturing costs was resulted from an increase in costs necessary to support higher production and sales volumes and a product mix change to products with a higher material cost, such as isolators and collimators. Unit shipment volume in precision molded optics increased by 22% in the first half of fiscal 2011 compared to the same period last year. Direct costs, which include material, labor and services increased to 28% of revenue in the first half of fiscal 2011, as compared to 22% of revenue in the first half of fiscal 2010 due to this product mix change. Gross margins were lower due to higher material costs due to this product mix change. During the first half of fiscal 2011, total costs and expenses increased $606,000 to approximately $2.56 million compared to approximately $1.95 million for the same period in fiscal 2010. This increase was due to a $124,000 increase in wages, a $100,000 increase in sales tax, $38,000 in recruiting fees, $24,000 in outside services for information technology, $11,000 in commissions to our sales force, a $45,000 increase in stock compensation expense due to stock options granted in the third quarter of fiscal 2010, and a $20,000 increase in investor relations fees. In addition, in the first half of 2010 there was an increase in legal expenses incurred which were offset by receipt of a reimbursement from our D&O insurance carrier in the net amount of $244,000 for legal expenses incurred in connection with litigation. Also included in total costs and expenses for the first half of fiscal 2011 wer e approximately $2.07 million in selling, general and administrative expenses. As a result, total operating loss for the first half of fiscal 2011 increased to a loss of approximately $729,000 compared to a loss of $323,000 for the same period in fiscal 2010. Net interest expense was approximately $498,000 in the first half of fiscal 2011 as compared to approximately $342,000 in the first half of fiscal 2010. This increase was due to conversions of $832,500 of the aggregate outstanding principle due on the debentures in the first half of fiscal 2011 and the related write-off of $256,000 of debt issuance costs, debt discount and prepaid interest. Our interest expense included interest on our debentures of 8% and amortization of the related debt issuance costs and debt discount, and write off of debt issue costs, prepaid interest and debt discount for debentures converted into shares of common stock during the first half of fiscal 2011. This increase was partially offset by reduced interest and amortization as a result of these conversions. Net loss for the first half of fiscal 2011 was approximately $1.2 million or $0.13 per basic and diluted common share, compared with a net loss of approximately $665,000 or $0.09 per basic and diluted common share for the same period in fiscal 2010. The $562,000 increase in net was primarily from the $256,000 charge for interest and debt issuance costs associated with the accelerated conversion of debentures into shares of common stock by certain debenture holders, the reimbursement of $244,000 from our D&O insurance carrier for legal expenses, which was received last year, and an increase of $124,000 in wages. Weighted-average basic shares outstanding increased to 9,359,068 in the first half of fiscal 2011 compared to 7,739,087 in the first half of fiscal 2010 which is primarily due to the issuance of shares of common stock related to the private placement in the fourth quarter of fiscal 2010 and debentures converted to shares of common stock in the first half of fiscal 2011. Cash and cash equivalents totaled approximately $1.10 million as of December 31, 2010. Total current assets and total assets as of December 31, 2010 were approximately $4.44 million and $7.15 million compared to approximately $4.79 million and $7.46 million, respectively, as of June 30, 2010. Total current liabilities and total liabilities as of December 31, 2010 were approximately $2.47 million and $2.99 million compared to approximately $1.08 million and $3.21 million, respectively, as of June 30, 2010. This was due to approximately $1.1 million of the outstanding amount owed to certain holders of convertible debentures issued in August 2008 becoming a short term debt for accounting purposes. As a result, the current ratio as of December 31, 2010 was 1.80 to 1 compared to 4.41 to 1 as of June 30, 2010. Total stockholders’ equity as of December 31, 2010 totaled approximately $4.16 million c ompared to $4.2 million as of June 30, 2010. As of September 30, 2010 our backlog of orders scheduled to ship in the next 12 months, was $3.27 million compared to $2.95 million as of June 30, 2010. Investor Conference Call and Webcast Details: LightPath will host an audio conference call and webcast on Thursday, February 3rd at 4:00 p.m. EST to discuss the Company's financial and operational performance for the second quarter of fiscal 2011. Conference Call Details Date: Thursday, February 3, 2011 Time: 4:00 p.m. (EST) Dial-in Number: 1-877-407-8033 International Dial-in Number: 1-201-689-8033 It is recommended that participants dial-in approximately 5 to 10 minutes prior to the start of the 4:00 p.m. call. A transcript archive of the webcast will be available for viewing or download on the company web site shortly after the call is concluded. About LightPath Technologies LightPath manufactures optical products including precision molded aspheric optics, GRADIUM® glass products, proprietary collimator assemblies, laser components utilizing proprietary automation technology, higher-level assemblies and packing solutions. The Company's products are used in various markets, including industrial, medical, defense, test and measurement and telecommunications. LightPath has a strong patent portfolio that has been granted or licensed to it in these fields. For more information visit http://www.lightpath.com/. The discussions of our results as presented in this release include use of non-GAAP terms “EBITDA” and “gross margin.” Gross margin is determined by deducting the cost of sales from operating revenue. Cost of sales includes manufacturing direct and indirect labor, materials, services, fixed costs for rent, utilities and depreciation, and variable overhead. Gross margin should not be considered an alternative to operating income or net income, which is determined in accordance with Generally Accepted Accounting Principles (“GAAP”). We believe that gross margin, although a non-GAAP financial measure is useful and meaningful to investors as a basis for making investment decisions. It provides investors with information that demonstrates our cost structure and provides funds for our total costs and expenses. We use gross margin in measuring the performance of our business and have historically analyzed and reported gross margin information publicly. Other companies may calculate gross margin in a different manner. EBITDA is a non-GAAP financial measure used by management, lenders and certain investors as a supplemental measure in the evaluation of some aspects of a corporation's financial position and core operating performance. Investors sometimes use EBITDA as it allows for some level of comparability of profitability trends between those businesses differing as to capital structure and capital intensity by removing the impacts of depreciation, amortization and interest expense. EBITDA also does not include changes in major working capital items such as receivables, inventory and payables, which can also indicate a significant need for, or source of, cash. Since decisions regarding capital investment and financing and changes in working capital components can have a significant impact on cash flow, EBITDA is not a good indicator of a business's cash flows. We use EBITDA for evaluating the relative und erlying performance of the Company's core operations and for planning purposes. We calculate EBITDA by adjusting net loss to exclude net interest expense, income tax expense or benefit, depreciation and amortization, thus the term "Earnings Before Interest, Taxes, Depreciation and Amortization" and the acronym "EBITDA." This news release includes statements that constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding our ability to expand our presence in certain markets, future sales growth, continuing reductions in cash usage and implementation of new distribution channels. This information may involve risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, factors detailed by LightPath Technologies, Inc. in its public filings with the Securities and Exchange Commission. Except as required under the federal securities laws and the rules and regulations of the Securities and Exchange Commission, we do not have any intention or obligation to update p ublicly any forward-looking statements, whether as a result of new information, future events or otherwise. Contacts: LightPath Technologies, Inc. Jim Gaynor President & CEO or Dorothy Cipolla CFO Phone: +1 (407) 382-4003 Email: dcipolla@lightpath.com

UCF Business Incubator - St. Cloud - Entrepreneur Open House

City of Orlando African-American Business Expo

SPIE Medical Imaging Conference /12-17 February

Attend SPIE Medical Imaging—a multidisciplinary forum that seeks to advance medical imaging technologies in the areas of medical physics, image processing, CAD, visualization and modeling, PACS, perception, ultrasonic imaging, and biomedical research. With over 1,000 paper presentations, poster sessions, opportunities to take courses, and a variety of networking events, Medical Imaging is an important conference for medical physicists. Plenary speaker Bill Hendee, Medical College of Wisconsin, will discuss the Expanding Role of Physics and Engineering in Medical Imaging. Come to the Orlando area for SPIE Medical Imaging, 12-17 February, Lake Buena Vista, Florida. Back on the east coast in 2011.

For more information, please visit:

http://spie.org/medical-imaging.xml?WT.mc_id=RMI11UCFCREOLBVE

Growing an Entrepreneurial Support Organization in Charlotte County