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

To: Jorj X Mckie who wrote (8831)	2/10/2003 3:09:51 PM
From: RockyBalboa	Read Replies (2) \| Respond to of 10293

Perhaps they have something like that one, it appears to work for centuries... Message 18557678 Bill Ulrich had an amazing thought... Message 18561116 "I'd rather have REFR publish an income statement with positive numbers. Did you know that those actually have a significant impact on stock price? Amazing stuff, really. but NDixons reply...(see there) tells everything! Not in the case of REFR. This is a thinly traded stock with large positions held by a few investors.... How do we call those mongrels...???

To: Jorj X Mckie who wrote (8831)	2/10/2003 3:10:15 PM
From: N. Dixon	Respond to of 10293

Bill was so wrong about REFR, I suspect that REFR would have more revenues. REFR's business model is licensing the technology. The technology took years to develop although it zoomed ahead of the EC window projects in the last 5 years. SPD is a particle that need to be grown, put in emulsion and dried into film, then it is sent to licensees who develop products with it. The first film was only mass produced in 2002 and licensees are working on projects in several markets. Most of the major auto manufacturers have projects going with SPD. You can already see them tested on Mercedes buses. REFR gets 5-10% of the net sale price. Licensees pay 45 days after the quarter in which the sale was made, so not having large revenues to date is not an issue. THey have reported sales, and that sales increased but did not exceed minimum annual royalties. That will change. The company expects the first revenues to come from aircraft windows being sold by Inspectech and product samples from SPD Inc. Then when the larger projects are completed, revenues will jump exponentially. go to smartglass.com and click on FAQ. ND