Research Frontiers (REFR) Message Board

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Technology Stocks : Research Frontiers (REFR)

REFR 1.330

+0.8%

Jan 16 9:30 AM EST

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To: N. Dixon who wrote (957)	10/6/1998 12:40:00 PM
From: Roger A. Babb	Read Replies (1) of 50500

Dixon, I have asked several knowledgable people to review the REFR S-3 filing. Each of them read that the $15 price is a ceiling, not a floor, for the puts and also that the buyer can NOT be required to buy stock at greater than 92% of the preivious days average trading price. Does anyone else agree with Dixon's statement that: "It just so happens that in this case REFR can put the stock at $15 EVERY SINGLE TIME so Ailorous must think it will be at least worth THAT much because that is what they will have to pay if they want it."

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