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Technology Stocks : Research Frontiers (REFR)
REFR 1.280-3.8%Jan 7 3:30 PM EST

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To: William who wrote (1318)8/16/1999 10:49:00 PM
From: Bill Wexler   of 50436
 
We did notice, and shorted more accordingly. By the way, we also noticed that you were dead wrong about the Valence stock fraud...

Message 9742667

I see that you also invest in quality issues like CSCO and QCOM (I've made a fortune on CSCO and love the stock).

Why do you throw your money down the toilet on garbage like REFR and VLNC?

By the way, REFR is now trading barely above its high for 1993. However, on a fully diluted basis, the stock has actually lost ground since then (if it weren't for the dilution since 1993, the stock would be now trading at about 16 a share).

The people running this fraud are at best self-deluded, and at worst outright criminals. The majority of the shareholders are going to get taken to the cleaners.

I reiterate my STRONG SELL/SHORT SELL recommendation of the REFR stock fraud.
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