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Non-Tech : Bill Wexler's Dog Pound -- Ignore unavailable to you. Want to Upgrade?

To: Bill Wexler who wrote (8069)	7/12/2001 1:40:55 PM
From: Bill Wexler	Read Replies (1) \| Respond to of 10293

Details of the REFR stock fraud....part 2 On July 28, 1997. REFR issued the following press release regarding the debut of their Suspended particle Device (SPD) technology at the SPIE show in San Diego (link to their web site): refr-spd.com In the fourth paragraph, a Dr. Carl Lampert is quoted as saying, "This represents one of the most innovative developments for the glass industry in the past twenty years..." implying that he was referring to REFR's SPD technology. At best this is misleading. We recently got in touch with Dr. Lampert and he stated that he was not referring to SPD at all but to "smart windows" in general. The quote was taken deliberately out of context to give the impression that this was somehow an endorsement of SPD. In fact, no such endorsement was made. Dr. Lampert is a former scientist with the Lawrence Berkely Natinal lab. Dr. Lampert did extensive research on electrochromic devices. Electrochromic technology is currently employed in numerous applications such as self-dimming rear-view mirrors and has gained wide commercial acceptance. In its entire 35-year history, Research Frontiers has failed to commercialize a single product.

To: Bill Wexler who wrote (8069)	7/27/2001 4:42:35 PM
From: Bill Wexler	Read Replies (2) \| Respond to of 10293

Details of the REFR stock fraud...part 1 On August 2, 1995, Research Frontiers issued a press release touting a "license agreement" with General Electric granting GE "a non-exclusive license to manufacture films incorporating the Company's proprietary suspended particle device (SPD) light control technology". Terms of the agreement were not disclosed. On September 15, 1995, Research Frontiers issued a press release stating that it "denied knowledge" of a "possible General Electric buyout". On that same day, REFR hit an intraday high of 16 7/8 per share. In September 1995, Robert Saxe, CEO of Research Frontiers exercised options for over 80,000 shares at prices ranging from approximately $1 to $3 a share, in addition, Mr. Saxe sold well over 150,000 shares soon thereafter. The General Electric license agreement expired 18 months later (around February, 1997). However, Research Frontiers continues to claim that General Electric is a "current licensee" on its web site, in its press releases, and in SEC documents. We believe that this is intended to deliberately mislead small investors in order to entice them to buy REFR's stock at artificially high prices. Robert Saxe all but admitted this fraud by stating (in a Newsday.com article) that GE "had regained" interest, but the reporter - upon checking with a GE spokesman - discovered that GE had "no information" on the contract. Research Frontiers has never delivered a single product in its 35 years of existence. The company relies solely on the sale of stock to the public to finance its operations. Research Frontiers relies heavily on dubious stock promoters (via newsletters and dissemination of false rumors via the internet) to sell its grossly overvalued shares.