Lightwave Logic, Inc. Financial Ratios — LWLG Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	-291.06	-192.35	-110.81	-117.22	-103.21	-106.23	-127.24	-102.16	-109.59	-94.64	-107.71	-61	-59.22	-56.63	-34.73
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	- -	- -	- -	100	- -	- -	- -	- -	- -	- -	- -	- -	93.8	92.27	97.12
EBITDA Margin (%)	- -	- -	- -	-169,680.04	- -	- -	- -	- -	- -	- -	- -	- -	-49,185.94	-22,189.11	-7,875.16
Operating Margin (%)	- -	- -	- -	-175,727.36	- -	- -	- -	- -	- -	- -	- -	- -	-52,405.47	-24,150.56	-8,765.46
Incremental Operating Margin (%)	-12,391.5	- -	- -	- -	18,099.88	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	- -	- -	- -	-176,391.88	- -	- -	- -	- -	- -	- -	- -	- -	-51,943.19	-23,570.99	-8,576.47
Profit Margin (%)	- -	- -	- -	-176,391.88	- -	- -	- -	- -	- -	- -	- -	- -	-51,943.19	-23,570.99	-8,576.47
Net Income to Common Margin (%)	- -	- -	- -	-176,391.88	- -	- -	- -	- -	- -	- -	- -	- -	-51,943.19	-23,570.99	-8,576.47
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	- -	- -	- -	- -	- -	- -	- -	- -	1	1	1	- -	3	3	3
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	1	- -	- -	- -	- -	- -
LT Debt	- -	- -	- -	- -	- -	- -	- -	- -	1	1	- -	- -	3	3	2
Total Debt/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	-0.15	-0.19	-0.03	-0.02	-0.15	-0.13	-0.14
Net Debt/EBITDA	0.11	0.68	0.64	0.75	0.8	0.5	0.67	0.42	0.4	0.5	1.47	1.51	1.58	1.3	3.7
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	-0.14	-0.17	-0.03	-0.02	-0.14	-0.12	-0.13
Net Debt/EBIT	0.11	0.66	0.61	0.72	0.77	0.47	0.63	0.39	0.35	0.44	1.38	1.41	1.48	1.2	3.32
EBITDA to Interest Expense	-19.69	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	-20.36	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	-19.9	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	-2,586.18	-743.68	-995.18	-857.49	-812.8	-1,441.25	-883.49	-1,053.82	-940.22	-962.07	-328.67	-364.69	-305.75	-388.48	-211.11
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	14.33	9.29	1.42	0.61	7.59	7.77	3.22
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	-1.11	-0.77	-0.4	-0.16	-2.22	-1.8	-1.46
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	10.31	7.28	1.32	0.57	6.62	6.87	3.04
Total Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	17.52	19.29	2.13	1.3	7.99	8.28	3.48
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	-1.36	-1.6	-0.6	-0.34	-2.33	-1.92	-1.58
Total Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	12.6	15.12	1.97	1.22	6.97	7.32	3.28
Net Debt to Equity	-52.68	-80.22	-72.72	-78.03	-74.51	-63.96	-69.41	-44.32	-45.57	-50.14	-92.97	-87.48	-86.27	-82.78	-92.46
Net Debt/Capital (%)	1.49	9.38	6.57	7.94	8.24	4.09	6.31	3.65	3.41	3.96	20.85	18.47	20.11	16.11	29.55
EBITDA	-3	-4	-4	-4	-5	-4	-5	-5	-6	-6	-16	-16	-20	-21	-19
EBITDA-CapEx	-3	-5	-4	-5	-5	-4	-5	-7	-6	-6	-17	-17	-24	-24	-20
Operating Income (Loss)	-3	-4	-4	-4	-5	-4	-6	-6	-6	-7	-17	-17	-21	-23	-21

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	1.51	18.91	18.59	14.27	36.24	15.3	5.37	5.5	2.24	3.54	14.77	16.03	12.17	15.5	32.32
Current Ratio	1.68	19.49	19.67	14.85	38.8	16.37	6.27	6.86	2.62	4.15	14.92	16.86	12.66	15.75	32.69
Quick Ratio	1.51	18.91	18.59	14.27	36.24	15.3	5.37	5.5	2.24	3.54	14.77	16.46	12.18	15.52	32.41
CFO/Avg Current Liab	-9.49	-12.03	-20.45	-18.26	-21.19	-27.32	-11.23	-8.43	-6.84	-5.05	-8.18	-6.82	-5.99	-7.12	-7.01
Common Equity/Total Assets	-2,586.18	-743.68	-995.18	-857.49	-812.8	-1,441.25	-883.49	-1,053.82	-940.22	-962.07	-328.67	-364.69	-305.75	-388.48	-211.11
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	14.33	9.29	1.42	0.61	7.59	7.77	3.22
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	-1.11	-0.77	-0.4	-0.16	-2.22	-1.8	-1.46
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	10.31	7.28	1.32	0.57	6.62	6.87	3.04
Total Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	17.52	19.29	2.13	1.3	7.99	8.28	3.48
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	-1.36	-1.6	-0.6	-0.34	-2.33	-1.92	-1.58
Total Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	12.6	15.12	1.97	1.22	6.97	7.32	3.28
CFO/Total Liabilities	-705.62	-1,524.81	-2,322.9	-1,415.52	-3,341.93	-2,465.71	-523.63	-808.21	-248.59	-306.28	-509.01	-615.73	-228.72	-354.7	-302.88
CFO/CapEx	-15.07	-6.79	-15.84	-10.66	-11.12	-16.32	-16.43	-3.07	-15.59	-22.36	-9.23	-6.72	-3.4	-5.76	-7.57
Altman's Z-Score	75.34	152.38	162.44	98.9	191.93	162.52	41.68	38.44	-0.25	16.05	458.2	162.76	59.24	27.79	52.23

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	2.67	2.52	2
Days Sales Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	136.87	144.96	182.09
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.01	0.01
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	192,661.25	61,149.54	33,459.39
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-192,524.38	-61,004.58	-33,277.31
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	136.87	144.96	182.09
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	66	43	37	43	36	41	81	54	58	91	1,566	482	575	253	417
- Cash & Cash Equivalents	- -	3	2	3	4	2	3	2	2	3	23	24	31	28	69
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	- -	- -	- -	- -	- -	- -	- -	1	1	1	- -	3	3	3
Enterprise Value	65	40	35	40	32	39	77	52	57	89	1,543	458	547	228	350
Total Capital	-24	-28	-32	-37	-42	-46	-52	-57	-63	-70	-89	-106	-125	-144	-165
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	-1.36	-1.6	-0.6	-0.34	-2.33	-1.92	-1.58
Total Debt / EV	- -	- -	- -	- -	- -	- -	- -	- -	0.02	0.01	- -	- -	0.01	0.01	0.01
EV/Sales	- -	- -	- -	15,870.1	- -	- -	- -	- -	- -	- -	- -	- -	13,493.31	2,388.57	1,479.13
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Market Cap	66	43	37	43	36	41	81	54	58	91	1,566	482	575	253	417
Diluted Enterprise Value	65	40	35	40	32	39	77	52	57	89	1,543	458	547	228	350
EV per Share	1.44	0.83	0.68	0.71	0.53	0.59	1.09	0.68	0.68	0.91	14.66	4.1	4.73	1.89	2.72
TTM Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM EBITDA	-3	-4	-4	-4	-5	-4	-5	-5	-6	-6	-16	-16	-20	-21	-19
TTM Operating Income	-3	-4	-4	-4	-5	-4	-6	-6	-6	-7	-17	-17	-21	-23	-21
TTM Cash Flow to Firm	-2	-2	-3	-3	-3	-3	-4	-4	-5	-5	-10	-11	-12	-16	-14
TTM Free Cash Flow to Firm	-1	-2	-3	-3	-3	-3	-4	-3	-4	-5	-9	-9	-9	-13	-12

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	-41.85	-21.5	-13.99	-15.05	-11.37	-13.87	-19.72	-18.29	-13.07	-19.53	-170.41	-53.76	-66.58	-19.7	-34.93
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	65	40	35	40	32	39	77	52	57	89	1,543	458	547	228	350
Low Price	0.58	0.79	0.6	0.68	0.48	0.44	0.62	0.63	0.62	0.48	0.9	3.91	3.79	1.75	0.79
EV/Sales	- -	- -	- -	15,870.1	- -	- -	- -	- -	- -	- -	- -	- -	13,493.31	2,388.57	1,479.13
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Average	-13.87	-13.46	-13.04	-11.21	-9.37	-9.36	-14.08	-14.42	-9.81	-10.36	-39.21	-54.92	-30.85	-18.5	-15.4
Price/Earnings High	-20.57	-35.65	-22.58	-15.77	-12.7	-13.07	-22.93	-17.6	-16.1	-16.02	-114.65	-108.98	-50.38	-28.36	-39.64
Price/Earnings Low	-7.55	-8.46	-7.92	-8.58	-5.98	-6.61	-7.64	-8.34	-7.68	-6.99	-5.08	-25.37	-20.8	-9.37	-5
Price/Book Value	-2.76	-1.53	-1.15	-1.17	-0.86	-0.89	-1.56	-0.94	-0.91	-1.28	-17.5	-4.52	-4.5	-1.72	-2.49
Price/Book Value Average	-2.03	-2.16	-1.58	-1.35	-1.09	-0.9	-1.57	-1.45	-1.03	-0.98	-8.16	-8.87	-5.08	-2.84	-1.87
Price/Book Value High	-3.01	-5.72	-2.74	-1.9	-1.48	-1.25	-2.55	-1.77	-1.69	-1.52	-23.87	-17.6	-8.3	-4.35	-4.82
Price/Book Value Low	-1.1	-1.36	-0.96	-1.03	-0.7	-0.63	-0.85	-0.84	-0.8	-0.66	-1.06	-4.1	-3.43	-1.44	-0.61
Price/Tangible Book Value	260.97	13.68	14.43	12.43	8.11	17.16	18.32	13.67	14.69	18.71	64.28	18.17	16.35	7.9	5.71
Price/Tangible Book Value Average	191.81	19.33	19.78	14.34	10.35	17.25	18.35	20.97	16.64	14.32	30	35.68	18.45	13	4.29
Price/Tangible Book Value High	284.36	51.2	34.26	20.17	14.03	24.08	29.89	25.6	27.29	22.13	87.7	70.8	30.13	19.93	11.04
Price/Tangible Book Value Low	104.39	12.15	12.02	10.97	6.6	12.18	9.96	12.13	13.01	9.66	3.89	16.48	12.44	6.58	1.39
Price/Sales	- -	- -	- -	17,136.48	- -	- -	- -	- -	- -	- -	- -	- -	14,197.5	2,649.02	1,759.55
Price/Sales Average	- -	- -	- -	19,774.42	- -	- -	- -	- -	- -	- -	- -	- -	16,025.67	4,361.33	1,320.38
Price/Sales High	- -	- -	- -	27,818.95	- -	- -	- -	- -	- -	- -	- -	- -	26,171.3	6,685.63	3,399.62
Price/Sales Low	- -	- -	- -	15,133.51	- -	- -	- -	- -	- -	- -	- -	- -	10,804.92	2,207.52	429.08
Price/Cash Flow	-39.08	-18.33	-13.11	-13.64	-10.34	-13.02	-18.52	-12.32	-12.23	-18.66	-151.95	-45.76	-46.99	-16.29	-30.31
Price/Cash Flow Average	-28.72	-25.89	-17.97	-15.74	-13.2	-13.08	-18.56	-18.91	-13.85	-14.28	-70.9	-89.86	-53.05	-26.81	-22.75
Price/Cash Flow High	-42.58	-68.58	-31.13	-22.15	-17.88	-18.27	-30.22	-23.09	-22.72	-22.07	-207.3	-178.3	-86.63	-41.1	-58.56
Price/Cash Flow Low	-15.63	-16.27	-10.92	-12.05	-8.42	-9.24	-10.07	-10.94	-10.84	-9.63	-9.19	-41.51	-35.76	-13.57	-7.39
Price/Free Cash Flow Average	-30.76	-30.36	-19.18	-17.37	-14.51	-13.94	-19.76	-28.06	-14.8	-14.95	-79.52	-105.57	-75.16	-32.44	-26.21
Price/Free Cash Flow High	-45.61	-80.43	-33.23	-24.44	-19.65	-19.46	-32.18	-34.26	-24.28	-23.1	-232.49	-209.48	-122.74	-49.73	-67.48
Price/Free Cash Flow Low	-16.74	-19.08	-11.66	-13.3	-9.25	-9.84	-10.73	-16.23	-11.58	-10.08	-10.31	-48.77	-50.67	-16.42	-8.52
EV/Sales Average	- -	- -	- -	18,508.04	- -	- -	- -	- -	- -	- -	- -	- -	15,321.48	4,100.87	1,039.96
EV/Sales High	- -	- -	- -	26,552.58	- -	- -	- -	- -	- -	- -	- -	- -	25,467.11	6,425.17	3,119.2
EV/Sales Low	- -	- -	- -	13,867.13	- -	- -	- -	- -	- -	- -	- -	- -	10,100.74	1,947.06	148.66
EV/EBITDA Average	-14.62	-13.43	-13.64	-10.91	-8.94	-9.97	-14.91	-15.78	-11.5	-11.59	-44.37	-57.97	-31.15	-18.48	-13.21
EV/EBITDA High	-21.72	-36.69	-24.09	-15.65	-12.39	-14.12	-24.69	-19.36	-19.02	-18.12	-132.48	-116.49	-51.78	-28.96	-39.61
EV/EBITDA Low	-7.9	-8.19	-8.04	-8.17	-5.41	-6.9	-7.78	-8.95	-8.94	-7.69	-4.5	-25.98	-20.54	-8.77	-1.89
EV/EBIT Average	-14.46	-13.19	-13.17	-10.53	-8.6	-9.5	-14.03	-14.47	-10.23	-10.21	-41.64	-53.83	-29.24	-16.98	-11.86
EV/EBIT High	-21.49	-36.03	-23.26	-15.11	-11.93	-13.45	-23.24	-17.75	-16.92	-15.96	-124.33	-108.17	-48.6	-26.6	-35.59
EV/EBIT Low	-7.82	-8.04	-7.76	-7.89	-5.21	-6.57	-7.33	-8.2	-7.95	-6.78	-4.22	-24.12	-19.27	-8.06	-1.7
Last Price	1.45	0.89	0.72	0.77	0.59	0.62	1.14	0.71	0.7	0.93	14.88	4.31	4.98	2.1	3.24
High Price	1.58	3.33	1.71	1.25	1.02	0.87	1.86	1.33	1.3	1.1	20.3	16.79	9.18	5.3	6.26
Enterprise Value Average	48	58	49	46	42	39	77	81	65	67	708	923	621	392	246
Enterprise Value High	71	159	86	66	58	56	128	99	107	105	2,113	1,854	1,031	614	739
Enterprise Value Low	26	36	29	35	25	27	40	46	50	45	72	413	409	186	35

Shares Outstanding	45	50	53	58	65	68	74	79	87	98	111	113	118	123	146
Diluted Weighted Avg Shares	45	49	52	56	60	66	71	76	83	98	105	112	115	121	129
Basic Weighted Avg Shares	45	49	52	56	60	66	71	76	83	98	105	112	115	121	129
Revenue per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA per Share	-0.07	-0.09	-0.07	-0.08	-0.08	-0.06	-0.07	-0.07	-0.07	-0.06	-0.15	-0.14	-0.17	-0.18	-0.15
Operating Income per Share	-0.07	-0.09	-0.07	-0.08	-0.08	-0.06	-0.08	-0.07	-0.08	-0.07	-0.16	-0.15	-0.18	-0.19	-0.16
Basic EPS, GAAP	-0.08	-0.09	-0.08	-0.08	-0.08	-0.07	-0.08	-0.08	-0.08	-0.07	-0.18	-0.15	-0.18	-0.19	-0.16
Basic EPS from Cont Ops	-0.08	-0.09	-0.08	-0.08	-0.08	-0.07	-0.08	-0.08	-0.08	-0.07	-0.18	-0.15	-0.18	-0.19	-0.16
Diluted EPS, GAAP	-0.08	-0.09	-0.08	-0.08	-0.08	-0.07	-0.08	-0.08	-0.08	-0.07	-0.18	-0.15	-0.18	-0.19	-0.16
Diluted EPS from Cont Ops	-0.08	-0.09	-0.08	-0.08	-0.08	-0.07	-0.08	-0.08	-0.08	-0.07	-0.18	-0.15	-0.18	-0.19	-0.16
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	-0.04	-0.05	-0.05	-0.06	-0.06	-0.05	-0.06	-0.06	-0.06	-0.05	-0.1	-0.09	-0.11	-0.13	-0.11
Free Cash Flow per Basic Share	-0.04	-0.06	-0.06	-0.06	-0.06	-0.05	-0.07	-0.08	-0.06	-0.05	-0.11	-0.11	-0.14	-0.15	-0.12
Cash & Equivalents per Share	0.01	0.06	0.04	0.06	0.06	0.03	0.05	0.03	0.03	0.03	0.22	0.22	0.27	0.23	0.54
Book Value per Share	-0.53	-0.58	-0.62	-0.66	-0.69	-0.69	-0.73	-0.75	-0.77	-0.72	-0.85	-0.95	-1.11	-1.22	-1.3
Tangible Book Value per Share	0.01	0.07	0.05	0.06	0.07	0.04	0.06	0.05	0.05	0.05	0.23	0.24	0.3	0.27	0.57

Lightwave Logic, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)