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Non-Tech : Bill Wexler's Dog Pound
REFR 1.610+3.6%3:59 PM EST

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To: Bill Wexler who wrote (6364)1/26/2000 8:54:00 PM
From: N. Dixon   of 10293
 
Bill,

People have bought REFR for the FUTURE earnings. That is why the stock is moving and why Lawrence Oakley of The Conservative Speculator ranked it his #1 pick for 2000.

We have gone back and forth about the fundamentals. All has been explained in great detail as to why so many of us are very happy with our investment and very excited about the future.

The recent rise is really "catch-up" not "run-up." We had a licensee, Hankuk, announce in 1997 their plans for commercialization of several SPD products and it is clear from their web site that these products are forthcoming. It will mean a lot of revenue to a company with no debt and a low burn rate. Also other licensees are commercializing and we could also hear product announcements in eye wear.

The recent rise is not such a mystery after all.

ND
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