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Technology Stocks : Research Frontiers (REFR)
REFR 1.850+1.6%Nov 13 3:58 PM EST

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To: Jonathan Babb who wrote (1118)10/13/1998 10:12:00 PM
From: N. Dixon  Read Replies (2) of 50149
 
Why can't you just give the scenario? What is this "future" you envision? How does it play out with REFR and Ailouros both buying shares at current levels in the open market? I have not only read the documents but discussed them with management. I know that they know with whom they are dealing. I know that they are about to see the first SPD products out on the market and I know that they anticipate revenues from these products.
I know that they were able to get FANTASTIC terms from Ailouros (who came to them) and that they chose Ailouros over US funds that offered them equity because Ailouros gave them the right to NAME ALL THE TERMS.

I know that Bob Saxe wants to reward the investors with stock splits and dividends and that he will do everything in his power to maximize our investment. I know that he was smart enough to bring this company to the threshold of commercialization and therefore revenues and did it with NO debt, 3 years of cash and no dilution (we only have 10.9 Million shares outstanding!)

Now that is what I KNOW to be true. What is the scenario of "doom and gloom" that you see this financing portend. Because I don't see how it can come about when REFR has all the options, they don't need cash for 3 years AND they have products in precommercialization. I have asked you to tell me that scenario and evidently you can't come up with a reasonable one that would jive with the current events taking place,

I have my answer. Thank you.

ND
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