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 (2955)	8/11/1999 4:25:00 AM
From: Bill Wexler	Read Replies (2) of 10293

In the last paragraph of Research Frontier's latest quarterly report (date 8/10/99), the company reports that the Sanyo license for the use of its worthless "SPD technology" in flat panel displays has been terminated. <<Also as of June 30, 1999, Sanyo Electric Co., Ltd.'s right to use the Company's SPD technology in flat panel displays under Sanyo's 1995 license agreement with Research Frontiers was terminated.>> The company goes on to explain that the Sanyo license was terminated due to the company's "dormant status" and "management" changes". We believe that this is simply a cover story. The real reason that the license terminated is because REFR's SPD technology is not commercially viable. REFR has failed to disclose that GE's license has similarly expired. Mr. Saxe has explained however, that GE "lost interest" because "managers in charge of the project left the company". REFR also reported a net loss per share (on a fully diluted basis) 80% higher than the comparable 6 month period 1998. In the meantime, REFR continues to spend less on R&D (extremely unusual for a development stage company) and its accumulated deficit is growing at an alarming rate. The company is also accelerating the destruction of shareholder value by the use of warrants in exchange for the services of various stock touts.

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