Light Management Group Inc. Secures Line of Credit with Citizens Bank
NORCROSS, Ga., July 10 -- Light Management Group Inc., a developer of new applications in optical and light technologies, announced that it has secured a line of credit for an undisclosed amount with Michigan financial institution Citizens Banking Corp.
The line of credit will be used for underwriting Light Management Group's operational expenses in LMG's Research & Development branch, US Operations branch, marketing endeavors and obtainment of additional personnel. Citizens Bank ranks as the second largest bank holding company headquartered in Michigan with assets of $8.2 billion.
"Light Management Group is proud to have secured a line of credit with one of America's most established and respected financial institutions," said Barrington L. Simon, CEO & Chairman of Light Management Group Inc. "As we continue to build name recognition and aggressively promote our products, this transaction represents our first foray into establishing active financial relationships with renowned creditors. We recognize that LMG's new association with Citizens Bank will assist in achieving our firm's short and long-term financial objectives."
Light Management Group Inc. specializes in the development of new applications in optical and light technologies. LMG's technology employs sound waves to focus and direct light. Last year, LMG filed for two US patents in the fiber optics field, both of which could have significant applications in telecommunications, data transmission and Internet technology.
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