Management has no credibility - agreed. I would boot them in a second for their past performance (or rather - non-performance).
Not an option. Management is the company and vice versa. If you want to talk about a hypothetical scenario wherein REFR is Chapter 11ed and the SPD patents are farmed out to companies that might actually do something constructive with them, that's a reasonable topic, if not a particularly investable one right now.
Is everthing they say an 100% lie? No
It would be better if it were, then we could at least discern the truth.
So are the new licensee's working to produce 2nd generation film.
I believe that AP, Hitachi and Dainippon will fill any orders they get. Just like GE would have 8-9 years ago. The more relevant question is, is anyone seriously working to generate such orders, and if so, who?
Did the recent conference occur?
I wasn't there. Perhaps a better question would be what was the motivation for such a gathering. Was it a celebration of a legitimate milestone or a scramble to fill the void left behind by Hankuk and SPD Inc.?
But the reward/risk ratio still remains extremely high.
Given all that you've pointed out, I don't see at all how you come to that conclusion. It's still the same company that's failed for 38 years. A wider operating range on the film isn't going to change everything else that's wrong with this company. (Especially if, as I tend to suspect, this "new film" has in fact been ready for quite some time, intended for sale as an "improved version" to an already-established customer base, and only being brought out now for lack of any other cards to play -- but that's all theory.)
About the most charitable way I can think of to put it, is in the words of a Wall Street columnist about another company: "If this company succeeds, it will be in spite of itself."
Maybe I should rename the board - "SPD (not REFR management)"?
As I said, it might as well then be "SPD (not REFR)". |
