Kevin (or alterego of Bill when he's too embarrassed to respond himself or needs someone to have a dialogue with)
What failures?
SPD took a long time to get to market. But it's here now and you've got a huge short position to cover and you got a lot of people into this who aren't going to be too happy with you as more and more products are announced by bigger and bigger companies.
refr-spd.com
Yes it is all there. The history of the development of SPD. It also shows why those who declared this a scam were wrong and now are deep in the hole with their short position. Just compare the due diligence:
Wexler says:
1997 RESEARCH FRONTIERS LICENSEE EXPECTS TO COMMERCIALIZE
SPD PRODUCTS AND ESTABLISH NEW PRODUCTION FACILITIES NEXT YEAR
refr-spd.com
1997 revenues from commercial SPD products = 0.
Yes in 1997 Hankuk announced commercialization. And what have they done since that announcement? Many of us learned with hindsight just how complex a process it is to bring a new technology to market. SPD has to be grown, emulsion suppliers signed up. Companies want more than one film supplier. Pricing must be determined. That is what has been happening over the last 4 years since the first licensee announced commercialization (none had prior to that). But that is now in place with some of the world's largest companies participating.
refr-spd.com
refr-spd.com
HANKUK GLASS INDUSTRIES ESTABLISHES SEPARATE BUSINESS UNIT
DEVOTED EXCLUSIVELY TO SPD FILM AND PRODUCTS
WOODBURY, NY and SEOUL, KOREA, January 8, 2001 - Research Frontiers Incorporated (Nasdaq: REFR), the developer and licensor of fast-responding SPD light-control technology, and its licensee Hankuk Glass Industries Inc.(KSC:02000.KS), Korea’s largest glass manufacturer, jointly announced today the formation of a separate subsidiary of Hankuk Glass Industries devoted exclusively to the mass production and sale of suspended particle device (SPD) light control film and a wide variety of end products using SPD film.
Hankuk Glass Industries, which will own a majority of the new division, known as SPD Inc., and a group of outside investors, will contribute approximately 8 billion Korean won ($6.4 million), including 6 billion Korean won in equity, to the new company. The SPD division’s Board of Directors will include Seheon Lee, Hanglas Group’s President and Chief Executive Officer, Seong Man Kim, the President of Hanglas’ Flat Glass Division, and Dr. Jeong Hoon Lee, Vice President and Director of Hanglas. Dr. Byung Seok Yu, from Hanglas’ Technical Research Institute, has been appointed as the SPD division’s Chief Technology Officer and will oversee the division’s research and product development personnel. Hanglas expects to release additional details shortly.
Seong Man Kim, President of Hankuk Glass Industries’ Flat Glass Division and a Director of SPD Inc. noted: "Hanglas’ Glass Technology Research Institute successfully achieved our goals relating to quality control, durability, production scale-up, product development, and SPD performance characteristics. The formation of a subsidiary of Hanglas dedicated exclusively to the mass production, marketing and distribution of SPD film and a variety of end-products will permit us to more rapidly deploy dedicated facilities, equipment, personnel, and capital to take advantage of our successful development effort."
refr-spd.com
HANGLAS’ SPD INC. DIVISION ANNOUNCES
PRODUCT INTRODUCTION TIMETABLE
FOR SPD FILM AND SPD END-PRODUCTS
SEOUL, KOREA and WOODBURY, NY, April 4, 2001 - SPD Inc., a subsidiary of Hankuk Glass Industries Inc. (KSC:02000.KS), announced today that it expects to produce SPD film in the Fall of this year, and to commence mass production of both SPD film and SPD end-products later on this year. Early this Summer, SPD Inc. will also conduct some pre-production runs on the new equipment it will be using and will use the SPD film produced by these runs to supply new product samples to certain important customers. SPD Inc. is a subsidiary of Hankuk Glass Industries Inc., which is Korea’s largest glass manufacturer and is a licensee of Research Frontiers Incorporated (Nasdaq: REFR), which is the developer and licensor of fast-responding SPD light-control technology. Research Frontiers, through its wholly-owned subsidiary, SPD Enterprises, Inc., is also making a minority investment in SPD Inc.
In addition to supplying SPD film to Research Frontiers’ other "end-product" licensees, under its license with Research Frontiers, Hankuk and its subsidiary, SPD Inc., can produce a wide variety of SPD end-products as well. SPD Inc.’s business plan outlines production of a variety of these products using SPD light-control technology, including SPD "smart" windows for automobiles, trains, aircraft, and boats, as well as for residential and commercial architectural window applications, appliances, optical filters, and flat panel information displays including large area displays such as scoreboards, road and traffic signs, digital clocks, and logographs.
Seong Man Kim, President of Hankuk Glass Industries’ Flat Glass Division and a Director of SPD Inc., indicated that "We have been getting very positive evaluations by the customers who have been working with us over the past few years regarding a variety of different SPD products. We are looking forward to the onset of shipping of both SPD film and SPD end-products to our current and future customers."
refr-spd.com
HANGLAS’ SPD INC. DIVISION APPOINTS
NEW HEAD OF SALES AND MARKETING
FOR SPD FILM AND SPD END-PRODUCTS
SEOUL, KOREA and WOODBURY, NY, April 9, 2001 - SPD Inc., a subsidiary of Hankuk Glass Industries Inc. (KSC:02000.KS), announced today that it has appointed Byung Chan Lee as its Chief of Sales and Marketing. SPD Inc. was recently formed as a separate subsidiary and is devoted exclusively to the mass production and sale of suspended particle device (SPD) light control film and a wide variety of end-products using SPD film, with shipments of both film and end-products to begin later this year.
Prior to joining SPD Inc., B.C. Lee was the Vice President in charge of Sales and Marketing of Hankuk Sekurit Ltd. since 1999. Prior to that Mr. Lee worked for Hankuk Glass Industries in various new business development, manufacturing, and engineering positions since 1975. B.C . Lee graduated from Yonsei University in Seoul, Korea with a Master of Industrial Science degree as well as a Bachelor of Science and Engineering. Hankuk Sekurit is a joint venture between French glass manufacturer Saint-Gobain (a world leader in the glass industry) and Hankuk Glass Industries Inc., which is Korea’s largest glass manufacturer and is a licensee of Research Frontiers Incorporated (Nasdaq: REFR), which is the developer and licensor of fast-responding SPD light-control technology.
Seong Man Kim, President of Hankuk Glass Industries’ Flat Glass Division and a Director of SPD Inc., indicated that "We now have in place the core management, technical and marketing teams necessary for SPD Inc.’s operations. During B.C. Lee’s tenure at Hankuk Sekurit, it grew to supply more than half of domestic auto glass for approximately 2.3 million passenger cars, buses, trucks, subway cars, trains and construction vehicles. In addition to outstanding business development skills, B.C. Lee has considerable experience with technical and manufacturing matters and we are extremely pleased to have him join the SPD Inc. team and to have him continue to bring new and innovative products to our customers throughout the world. His background and experience is ideally suited for our marketing of SPD film and the many end-products we will be producing."
refr-spd.com
HANGLAS SPD INC. DIVISION EXPANDS PRODUCTION CAPACITY
AND ACQUIRES NEW FACTORY DEVOTED TO
HIGH VOLUME PRODUCTION OF SPD FILM AND END PRODUCTS
SEOUL, KOREA and WOODBURY, NY, April 12, 2001 - SPD Inc., a subsidiary of Korea’s largest glass manufacturer, Hankuk Glass Industries Inc. (KSC:02000.KS), and Research Frontiers Incorporated (Nasdaq: REFR), the developer and licensor of fast-responding SPD light-control technology, jointly announced today that SPD Inc. has acquired a new factory located in Inchon, Korea which will be dedicated exclusively to the production of suspended particle device (SPD) light-control film and a wide variety of end-products using SPD film. Construction of the new factory building has already been completed, with high-capacity equipment expected to be installed, tested, and fully operational shortly. SPD Inc. expects mass production of both SPD film and end-products by this factory to occur this year.
In addition to supplying SPD film to Research Frontiers’ other licensees, the new factory intends to produce a wide variety of SPD products under Hanglas’ license with Research Frontiers. These products could include SPD "smart" windows for automobiles, trains, aircraft, and boats, as well as for residential and commercial architectural window applications, appliances, optical filters, and flat panel information displays including large area displays such as scoreboards, road and traffic signs, digital clocks, and logographs.
Hanglas’ SPD Inc. subsidiary expands Hankuk’s present SPD production capacity significantly. The new SPD factory will be able to produce about 35 tons per year of the basic SPD materials used to make SPD light-control film. Seong Man Kim, President of Hankuk Glass Industries’ Flat Glass Division and a Director of SPD Inc. indicated that "While we can outsource additional capacity once demand for this factory’s production exceeds the capacity of our coaters, we will probably build similar factories in various locations throughout the world to add further capacity to meet the growing demand we see worldwide for SPD film and end products." |
