Bill Wexler's Dog Pound Message Board

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Non-Tech : Bill Wexler's Dog Pound

REFR 1.730

+10.2%

3:57 PM EST

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To: Bill Wexler who wrote (2951)	8/10/1999 8:15:00 PM
From: Bill Wexler	Read Replies (3) of 10293

The REFR stock fraud announces good news!!! biz.yahoo.com <<<During the first six months of 1998, the Company received $135,000 of key man life insurance proceeds payable on the death of its former Executive Vice President, Robert I. Thompson. This resulted in the Company recording non-recurring other income of $91,379 during the first six months of 1998 representing the difference between the amount received by the Company and the cash surrender value of such life insurance policy that was previously recorded on the Company's balance sheet.>>> Now we know what the company's primary source of income will be - collecting on life insurance policies of executives that croak while investors sit through another 35 years of no product and stock dilution. A much more interesting item for short-sellers: <<During the first half of 1999, the Company purchased 74 patents and patent applications from Glaverbel S.A. covering various inventions relating to SPD technology for which a lump-sum payment of $289,177 was made. In accordance with the Company's accounting policy, such amount was expensed.>> Hmmmm. You'd figure by the hysterics of the REFR cultists that such a large patent protfolio relating to this Earth-shaking technology would be far more valuable.

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