Research Frontiers (REFR) Message Board

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Technology Stocks : Research Frontiers (REFR)

REFR 1.280

-4.5%

Jan 20 3:59 PM EST

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To: N. Dixon who wrote (988)	10/6/1998 5:06:00 PM
From: Roger A. Babb	Read Replies (1) of 50504

Dixon, I just had a very long conversation with Mr. Harary. A very nice gentleman who understands REFR and its financing very well. Also understands thesetypes of deals very well. To make a long story short, I am correct in my interpretation of the S3 saying that at no time can the investor be forced to buy at more than 92% of market price as defined by the average of the previous days trading. If the company set floor price is higher than 92% of market, the investor is relieved of any obligation to buy. If this is not your understanding you should call Mr. Harary for clarification. This is all a moot point and the stock price will go up if REFR succeeds with its product introduction and obtains revenues. Without revenues my short position is likely to turn out a winner.

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