Since you brought it up, what are the exact quotes? Which, if any Licensee did Mr. Saxe say he was expecting to see product from? Who did he state would be manufacturing the glasses? Did he give any specifics as to what needed to be accomplished before we would actually see product. Was the decision to have product solely based on REFR or would the Licensee have to make a corporate decision to fund any such product development? Were there NO disclaimers as to the accuracy of these predictions?
Could it be possible that the negotiations at that time, the feedback from licensees regarding the stunning advancement of the technology led the REFR people to believe that we COULD be seeing product in 1994?
I am not aware of any announcements, similar to the ones we have now confirming the steps being taken day-to-day. REFR could not make a definitive statement that we would have product using SPD. The statements that were made reflected a "best guess" and if you had contacted the licensees you would know that some were planning on having a product but a corporate decision due to their financial situation postponed this or some were still in the R&D stage. What you NEVER would have heard is a licensee saying that SPD technology can't or won't work. Some have just had to postpone (Glaverbel) or work with it in the later stages (like GE) There was never an issue of the viability of or the market for the SPD products.
I have questioned your motives because your posts do not provide any insight into why product did not come out before. It did not take me much research to determine this and I would think if truth were your only concern, that you would have gone the extra step to find out what was behind the "problem." With the correct information an investor can readily see that the current situation and statements coming from the company and licensees are decidedly different. Hankuk, not REFR, made the first announcement regarding plans to produce glass products with SPD. They gave a timeline, they showed prototypes to potential customers at a trade show. They put in their brochure at the trade show literature discussing this new product along with the anticipated date. The PRESIDENT has stated in writing to the company that production of SPD windows is a HIGH priority.
You have been comparing apples and oranges, Rick. Comments by Bob Saxe which only reflected his best thinking at the time as to when we might expect to see product and revenue were based on the current status of projects by licensees and at the time his projections could not be considered out of line. Bringing a new technology to market is a gargantuan task and there will be delays and disappointments along the way. But rather than see those delays as a setback, I noticed that REFR was able to, working in conjunction with licensees, overcome the obstacles and have brought us to where we are today. And today we are seeing all the right signs that commercialization is a probability.
Should we all come back and lambast in two years because we bet (based on what you SAID) that the VCU Rams would be in the top 25 IN 2000? Aren't you just making your "best guess" based on how they are doing now, the age and ability of the players, and maybe just a little "pride" in the old alma mater?
By the way, lots of shorting first thing this morning.
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