May 15, 2006, Sylmar, CA--After acquiring the outstanding shares of Quintessence Photonics Corporation (QPC) in a reverse merger transaction. Planning Force (Sylmar, CA) has changed its name to QPC Lasers and replaced its officers and directors with officers and directors of QPC. The company has applied for a new OTCBB trading symbol and expects the new symbol to be issued in late May.
Founded in 2000 as Quintessence, QPC today develops and produces high-power, high-brightness semiconductor lasers and associated optical components for industrial, military, homeland security, and medical markets. Its intellectual property consists of three issued patents and 13 pending patent applications.
QPC believes it has produced the world's only high power monolithic surface emitting arrays, wherein it can aggregate hundreds of high power lasers onto a single semiconductor chip. In addition, QPC has designed and is developing, subject to additional funding, the world's only on-chip wavelength conversion and control. This technology can produce eye-safe wavelengths for detecting pollution, hazardous materials and chemical explosives; it also is conducive to establishing effective countermeasures for heat-seeking missiles, to producing a directed energy weapons arsenal for the U.S. military, and for the creation of eye-safe laser products for surgery, hair, tattoo and acne removal, and other commercial applications.
Since its inception, QPC has received more than $6 million of development contracts from the United States Navy, United States Army, United States Missile Defense Agency, and defense contractors in the United States and Israel. It has raised approximately $29 million in four separate rounds of equity financing.