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Technology Stocks : Research Frontiers (REFR) -- Ignore unavailable to you. Want to Upgrade?

To: N. Dixon who wrote (5112)	3/26/2004 7:37:07 AM
From: inchingup	Read Replies (1) \| Respond to of 50680

REFR is going out of business! Recently REFR released its Edgar filing. In it REFR wrote down its investment in SPDi, the sole source of SPD by 2/3's. In other words, only 2 years after inception the plant built to manufacture SPD is nearly worthless. Also, REFR warned that it would need to raise capital in 2004 to survive. REFR has never had a legitimate source of captital such as a line-of-credit from a bank. Instead they have relied on what appear to be hedge funds or penny stock financiers to keep them alive like most penny stock scams. Worse yet, Inspectech Aero Services, the company that promoted that it would be selling and installing 5000 airplane windows per month starting 2 years ago has been found out to be no more than a one man operation in a rented room near the airport in Ft. Lauderdale. In other words, Inspectech lied about the windows, REFR is almost broke, and SPDi seems to be on its way to going out of business if it hasn't already. On top of all that, REFR had less revenues in year 2003 than it did in 2000 before it had introduced products. It appears also that the majority of the income REFR had in 2003 in the form of a kickback to REFR on funds REFR originally granted to the companies for research and development. In the end, REFR is doomed with maybe 7-9 months left until it runs out of cash and goes to the pink sheets. Nancy Dixon has to sell 70,000 shares of stock before this happens. She is here to steal your money. Don't get caught with worthless shares.