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

To: inchingup who wrote (10009)	7/28/2003 10:00:08 AM
From: inchingup	Read Replies (2) \| Respond to of 10293

From Q-2, 2001 Edgar filing: "For the six months ended June 30, 2001, the Company purchased in the open market and subsequently retired 299,693 shares of treasury stock with an aggregate cost of $5,945,938." Well, if during the first quarter they repurchased 144,700 shares for $2.4 million, then issued 90,000 shares for $1,254,000 in the same quarter that loss equates to about $2.56 per share. Subsequently it seems REFR the bought back more shares in the Q-2, 2001 for a price of $22.58 spending an estimated $3.5MM more of investors money. Obviously then, they had no need to "raise" $750,000 to fund SPDi. Conversely, it also appears that were REFR NOT to have issued those 90,000 shares on 3/30/2001, investors would have saved in the neighborhood of $774,000. Either way it was a massive loss for investors.