Applied Energetics Inc., a company listed on OTCQB under the ticker AERG, released a letter to shareholders from CEO Chris Donaghey on August 14, 2025. The letter details the company's strategic execution and progress in the first half of 2025, focusing on advancements in ultrashort pulse laser and directed energy solutions. Applied Energetics has achieved critical technical milestones in the Pulsed Lethality for Air Defense - Low Altitude program, surpassing peak power performance targets in live system testing. The company aims to complete further phases of development in 2025, secure additional program awards, and expand its intellectual property portfolio. Recent financial statements indicate that the company accepted paid-in capital of just under $3 million to support growth and strategic initiatives, which include testing, expanding personnel, potential partnerships, and engagement with defense tech integrators. The full letter can be accessed through the link below.