On August 19, 2002, Research Frontiers Inc. (NASDAQ: REFR) issued a press release touting a little-known "licensee' of it's questionable "SPD" technology.
smartglass.com
In the press release, Joseph Harary - president of RFI, states:
"We were very impressed with Razor’s Edge Technologies’ business plan and excellent track record for execution and speed to market...."
Furthermore, there is a blurb regarding the company:
"Situated in the Mid-Atlantic region of the United States, Razor’s Edge Technologies, Inc. is a technology-based contracting company focusing on cutting edge construction techniques and materials. Razor’s Edge Technologies, Inc. management has over 40 years experience in marketing, new product development and promotion, contracting and construction."
RFI has a long history of fraudulently promoting its stock by touting numerous "licensees" who
never seem to bring any SPD products to market, despite numerous claims by the company
of "imminent" commercialization since the early 90s.
Razor's Edge Technologies is simply another front created by RFI management to give the
illusion of economic activity. Razor's Edge Inc. filed a fictitious name statement with the
state of Delaware one day AFTER the 8/19 press release (Delaware FIPS code:DE005, file
date 8-20-2002).
Razor's Edge technologies has no "track record" we can discern. In fact, the main phone number of
the company (302-644-4389) maps back to the residence of a Mr. Scott Edgell at 16 E Mill Run, Milton,
DE, 19968. Mr. Edgell is listed as "Executive Vice President" on the company's web site.
The most recent address we could find for Seth Turner (listed as "Vice President of Operations) is
P.O. Box 574, Newark, DE. However, his last known residential address turns out to be exactly the
same as Mr. Edgell's. Mr. Edgell was born January, 1936. Mr. Turner was born January, 1969.
Roman Reyes, President of Razor's Edge, has only been a resident of Delaware since the fall
of 2000. Prior to that, he was a resident of Clovis, New Mexico. It's not surprising that
Mr. Reyes was anxious to leave the state and get a fresh start. On November 16, 1998
Mr. Reyes filed for Chapter 7 bankruptcy, listing $4770.00 in assets and $19,238 in
liabilities. [Case #:98016967 - NEW MEXICO FED COURT- ALBUQUERQE - 421 GOLD AVE SW ALBUQUERQUE, NM 87102 505-248-6500]
We believe we have found exactly where those $4770.00 in assets were. It seems Mr. Reyes
enjoyed making old cars go fast and look stupid:
sccoa.com
No doubt, RFI's promoters will be quick to point out that Mr. Reyes' car appears to have SPD windows. |
