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Technology Stocks : Research Frontiers (REFR)
REFR 1.997+13.5%Nov 21 9:30 AM EST
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To: Debt Free who wrote (60)6/7/1997 7:28:00 PM
From: RMP   of 50210
 
Just got the response...... Amazing how quick...

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Bob Saxe has acquired around 26,000 shares earlier this month. If a filing is on a Form 144, it must be a sale (since purchases by insidersare only required to be filed on Form 4 w/i 10 days after the end of the month that the purchase occurred). However, no officers, directors, or employees of Research Frontiers have filed to sell any shares (and they must pre-clear such trades with me before doing so) in the past few months so I am quite sure that the Form 144s are probably sales by non-insiders who might have received stock upon the exercise of warrants or stock otherwise acquired in a private placement. If you can email me the details of the Form 144 activity, I can probably give you more background detail. The March sales may or may not have been insiders who had margin calls (since I am out of the office this weekend, I don't have those files with me to confirm this), but these insiders no longer have any margin problems.

Thanks,

Joe Harary
Vice President and General Counsel
Research Frontiers Incorporated
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This made me feel better about my recent purchase.
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