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Wednesday, August 14, 2019

So Lucas closes thanking customers & military.

 Years of investment, years of development, many millions granted to eMagin by NAVAIR to develop the High Brightness Display for Aviation. Millions by Mantech, manufacturing arm of the Dept. of Defense to the processes needed to manufacture a Direct Patterned Display for the Dismounted Soldier. Securing a domestic Foundry. Firing up Production for the display F-35 GEN III Helmet. Millions to develop a Backplane that increased efficiency and lifetime,the Mantech Award. Commitment from the Congress for over 21 Programs of Record, fully funded, that go out 7 years.
 Do you honestly think there going to throw up hands and say .26, we're out of here! There is no entity anywhere that knows eMagin's situation better than the their biggest customer. MW, you asked the question that elicited the most telling response. He told you they were getting the money. They have to check all the boxes and Financial Insecurity is the first criteria listed. They NEED a reliable partner." I think the biggest challenge that we're finding, quite frankly, right now working with the government and military is the timing of when that money is going to come."

MANDATED:

A funded mandate is a statute or regulation passed by a higher level of government that requires a lower level of government, public individual, or organization to perform a task(s) and that higher level of government also includes the funding necessary to to cover the cost of carrying out the task(s).

Lucas:

Mike, if I understand what you're asking, the issue here is not excess capacity. Quite frankly, a big source of the funding,what's behind the whole Title III program overall since we've put in place is the fact that there isn't sufficient capacity for the critical technologies and products that are mandated, required by the military.And that's as well in terms of where we see a lot of our programs going the F-35 and others, we just don't have the sufficient capacity nor do we have the up-to-date equipment that allows us to produce these displays in a more economical fashion that, of course, the military base would be looking for. So the -- actually, the emphasis here is to get this funding is not only to give us more capacity to meet the needs of the various U.S. government programs of which we're on more than 20 programs of record in the future, but also to help in terms of operational effectiveness, our yield improvements to help bring, in time, the cost and prices. And then thirdly, it also provides us some of the capital that we need for the equipment to advance the direct patterning, which is, as you all know, is the cutting-edge technology in the microdisplay industry. So that's the emphasis behind it.

WHY DID HE THANK THE MILITARY?

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