Nexus Biopharma Inc (NEXS)

Description:

Nexxus Lighting Inc. was incorporated in Delaware on December 16, 1993. In April 2007, the Company changed its name from Super Vision International, Inc. to Nexxus Lighting, Inc. It design, manufacture, market and sell high performance, commercial grade, LED replacement light bulbs and LED-based signage, channel letter and contour lighting products. It sells these products under the Array Lighting and Lumificient brand names. It offers a broad line of LED replacement lamps in multiple color temperatures, electrical currents and optic/lens options, including: G4 puck lamp, MR16, MR16 High-Output, R16, GU10, R30, and PAR38. Its Lumificient subsidiary targets the sign market with its Hyperion R-Lite products, these products are expanding into non-signage applications, such as vending machines, illuminated display tables and architectural applications, these products are energy efficient, relatively easy to install and highly dependable with limited defective experience. The company outsources a portion of the manufacture and assembly of its products, including all of the production of its Array brand of products. It design and engineer its Array line of LED replacement lamps and purchase all of the finished units from third-party manufacturers. The company markets and sells its LED products through its Array Lighting division and through its subsidiary, Lumificient. It maintains a salaried team of industry-experienced sales professionals dedicated to promoting and selling its Array brand of LED light bulbs through its network of lighting agencies, these independent lighting agencies provide assistance in the lighting specification process, provide local customer and project management support and direct the customer to purchase products from the company. Array replacement lamps also are sold through independent energy savings companies which assist customers with improved energy usage and to retail customers through a large home improvement retailer. The company generates revenue by selling products for use in the commercial, hospitality, institutional, retail and sign markets. Its facing competition from both traditional lighting companies that provide general lighting products, such as incandescent, fluorescent and neon lighting, and from specialized lighting companies that are engaged in providing LED products. The traditional lighting companies, including Acuity Brands Lighting, Inc., Cooper Lighting (a division of Cooper Industries, Inc.), Hubbell Lighting, Inc. (a division of Hubbell Incorporated), Juno Lighting Group (a division of Schneider Electric SA), Osram Sylvania and Royal Philips Lighting (a division of Koninklijke Philips Electronics N.V.) in the general illumination market. The company also competes with providers of LED replacement lamps and other energy efficient lighting products and fixtures, these companies include traditional lighting companies such as Sylvania and Philips; specialized lighting companies such as Lighting Science Group Corporation; certain packaged LED suppliers such as Cree, which is primarily a manufacturer of LEDs; as well as multiple low cost offshore providers.