Alex:
Why sit on the sidelines when you could be spending your time doing DD.
Why not give Inspectech a call and ask them how many of the "expected" 60,000 SPD windows they were suppose to install last year were completed. Everyone was looking forward to those $5-6 million in royalty payments from Inspectech to make REFR cash flow positive.
I mean man, like REFR had about a dozen press releases promoting the plane windows like P.T. Barnum promoting his circus. Hell, you would of thought Inspcetech was the second coming of Christ.
You might also want to ring up THV who was the predecessor to Inspectech. Heck, little ol' THV who has lost over 95% of its value since inception in 1998 was going to make SPD its big time show. Heck, you'd think by the number of press releases that REFR put out on THV every home in America would be plastered with SPD windows inside and out.
See if you can find anyone in the company who can tell you about the SPD windows. That would be some great DD.
You might also want to go over to the REFR web page and "ask Joe" why they promoted the price of SPD to be in the range of $15-20 per square foot and that now it is estimated to be about 10 times that. Afterall, REFR for years stated the reason other similar products were pulled from the market was because they sold for $90-100 per square foot and no one would buy them.
Taking one more step back a phone call to the THV predecessor Lang-Mekra who was touted to be "taking orders" for truck mirrors back in November 2000 might be in order. Everyone believed they were going to be REFRs savior but since we haven't heard from them for several years you might want to check up on their progress.
I am certainly glad you missed the two year hype of MSC who according to one REFR long called SPD one of the modern wonders of the world. You should have seen the action on the stock when REFR announced that they had sent a "commercial" quantity of emulsion to MSC to produce SPD in 1999. It was fantastic. On the day of the announcment REFR insiders sold like crazy. Only several months later, well after their sales did we find that the emulsion had a few problems that REFR thought would be resolvable. Since then of course, MSC has been dormant.
But wait Alex, you missed the big ta-doo about Orcolite. Yep, good ol' Orcolite was paying a fee to play with SPD and according to REFR back in 1997 was almost ready to show their prototype eyewear. Unfortunately, the eyewear never appeared.
I guess the most gruesone fairy tale of them all came about 1994 when REFR made an enormous announcement about how auto rear view mirrors were shown to the big 3 auto makers and made the announcement sound like sales to them were fairly imminent. They even went so far as to write a nasty PR to GNTX, who was selling mirrors by the millions trashing GNTX and stating how SPD would be superior and cheaper. You might want to call Glaverbel and ask what happened.
You might also check at the same time why they stopped "paying to peek" at SPD and then had the patenets bought back by REFR. REFR was very forthcoming about the patent buyback as they proclaimed it was to help with worldwide rear view mirror sales. They even announced it the day AFTER the annual meeting so no one would question their motives.
After that you can again "ask Joe" why he stated in the conference call that rear view auto mirrors weren't on REFRs priority list anymore as they hyped the living hell out of 'em as part of their stock promotion scam for 6 or 7 years.
We also Alex have not 1, not 2, but 3 licensees who were going to make sunshades for automobiles. That is a hell of a lot of licensees by gosh. "Ask Joe" if he can show you a sample. To my knowledge no one has ever viewed a single example.
I am excited to hear that Hitachi is getting involved although having GE aboard, the worlds one time largest corporation as a licensee since 1995 seemed far better. Unfortunately GE has kind of faded into obscurity like perhaps a dozen or so more licensees like Litton, PRD, Orcolite, Japan Steel, and even Sanyo who seems to have snuck out the door.
I would have really liked Sanyo as I have owned very good products of theirs. Perhaps they left SPD on the sidelines so their image wouldn't be tarnished.
REFR sounds like a real good investment Alex. Just think how much better of an investment it will be if/when as I expect they run out of cash next year. Heck, I might even buy a couple of shares of a penny or so and sell the cert on E-Bay as a memory of the longest running scam in American history.
Buy now Alex before the shares become worthless. |
