OLD STUFF:
To: Stephen B. Temple (0 )
From: RichS (Trial Member) Wednesday, Feb 11 1998 5:11PM ET
Reply # of 1898
ReDOX Responds to the Thread
This contribution to the ReDOX Technology Corporation thread is being provided by the
Company's spokesperson. The message below will be one of very few that the
Company provides to this or any private forum. Because the Company reports to the
Securities and Exchange Commission as required by the Securities Exchange Act of
1934, as amended, our liberty to discuss the Company, its technology, its prospects,
and its relationships is circumscribed. That having been said, herewith we address
some of the users who have submitted responses.
First, and foremost, ReDOX Technology Corporation is a real company, and it has a real
technology for high density energy storage. The Company has developed and produced
limited numbers of prototypes using its technology, and they work. A number of
individuals, both inside and outside of the Company, have seen what our batteries can
do.
Second, we have been working on this technology for more than a decade, and we have
not used significant amounts of outside capital in our efforts, in part because substantial
sources of capital which would have understood our technology would also have been
interested only in eviscerating the Company of that technology, leaving us with little more
than a nice shell with which we would have had to do something else. We chose to "go it
alone" until such time as we had established relationships with compatible strategic
alliance partners on OUR terms. By this approach, it is - and has been all along - our
judgment that shareholder value would be maximized. Our technology competes against
an array of alternative high energy density storage technologies poised for deployment
early in the next century. Were we to hand over our proprietary knowledge, we have no
assurance that our constructs would even be developed to production. We've worked far
too long to take that risk.
Despite the representations made by some in this thread to the contrary, we are forging
alliances with both public and private entities interested in developing and ultimately
using our batteries. We are hopeful that they will soon enter into formal agreements with
us. If they do, we will tell you and the whole world about it through our press releases. If
one or more of them don't, we have a sufficient number of others who will in the
foreseeable future.
We are impressed by some who have written responses. There is clearly an
understanding of the technology out there, although we need to point out that what we are
developing is, in several significant ways, different from related technologies being
developed by other companies. Moreover, although our technology does indeed use
sulfur as a room-temperature conductive substance, there will be no "rotten egg" smell,
since 'de-gassing' will be done at the time of manufacture.
Now, to those who made comments concerning our lack of R&D expenditures during
1996. Our technology is expensive to implement. At small scale (i.e., in prototype
production), it would be prohibitive for us to fund any further advances without substantial
outside help. We have been fortunate to have several established partners who have
provided the front end for our technology development. Furthermore, our own, personal
resources have been brought to bear, year after year, time after dollar, to see this
through. Those of us in the Company who are still here after all this time do not deserve
the contemptuous remarks of people who have never taken on a project of this
complexity and importance. And those who departed the Company for one reason or
another, and who ultimately sold their holdings of the Company's stock, do not need a
biased analysis of their motives; it shouldn't be difficult for anyone to understand the
personal need for capital after having sacrificed for years. A former insider selling his
holdings in ReDOX says nothing about the Company.
Finally, if you have followed the price behavior of ReDOX's Common stock, you will know
that it has traded through a significant price range over the past year. This is the result of
interplay between speculators, supporters, and doubters all having their say through the
mechanism of the open, transparent stock market. To say that the Company's
management has deliberately tried to cause the price to go up is obvious: that is our
sole duty as directors of the Company, and we will do that through the deployment of our
technology into the marketplace in a timely manner, and with the delivery of information
to the public as swiftly and accurately as we can, within the context of constraints placed
upon us by our prospective partners.
We are hopeful that you who have contributed to this newsgroup will continue to do so.
We look forward to reviewing further comments from all of you. And we look forward to
having all of you benefit from our technology in the years to come.
Post Script to TexasDude: Your profound lack of grammatical skill and your willingness
to use hyperbole and libel as an alternative to reason provides other contributors with all
the evidence they need to assess your credibility. Soon we will unveil for all the fruits of
our long effort. Until then, we trust that you will continue in your role as the spokesman for
our few detractors. |
