Stamford focuses on US Integrated Optics
Last month, Stamford International Inc. (Toronto, Ontario, Canada) continued its drive to focus solely on the development of its U.S. Integrated Optics (USIO; La Jolla, CA) subsidiary with the appointment of USIO president G. Robert Tatum to the presidency of Stamford. USIO has recently achieved lasing with its microcavity laser chi¥technology at 1550 nm and is completing a $4 million nanofabrication facility on the campus of Northwestern University (Evanston, IL) to continue product development, Tatum said. Stamford management has agreed that the development of this proprietary technology has the greatest market potential of all Stamford projects, according to a company statement. And in April the company announced that it would divest itself of all other holdings to concentrate solely on USIO. Last month, Stamford announced that it proposes to raise $1 million in working capital by way of private placement of 800,000 shares of common stock. Stamford also intends to restructure its Canadian management and operations, as well as the research and development program of USIO.