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

To: N. Dixon who wrote (478)	2/7/1998 8:57:00 PM
From: inchingup	Read Replies (3) \| Respond to of 50119

From my experience most companies start with a single product, in this case ONE form of SPD technology that is known to work, even in it's infant form. They then market this technology to end user's and THEN use the PROCEEDS from that income to continue developing better technology. In REFR's case it seems that they now say that they have technology for changing the color or tint of the glass also. While this may be a wonderful breakthrough for R and D, it doesn't create any capital for the shareholders or the company. Obviously, there must be a problem somewhere along the line, otherwise the black and white version should have been in production some time ago. Also, I believe that during the conference call, if I remember correctly,the black and white version had not yet been fully tested for durability, even though it was also stated that it will work from temperatures of -40 centigrade to 120 centigrade. It was also stated that they can complete these tests in a matter of of weeks, not years. Can you imagine INTEL dumping hundreds of billions of dollars into R and D, and not manufacturing it's first computer chip until it had perfected the 100986 mega chip in the year 2010 A.D.? This is pretty much akin to what I see REFR doing. In addition, why doesn't REFR buy or build it's own manufacturing facility for eyeglasses, goggles, etc. I'm sure if the product worked as well as they say, there would be institutional investor's to cough up the money, just like they did for KS. As for REFR marketing the product themselves, it should be a no-brainer if the technology is as good as they say. REFR could probably spend a million or so for an infomercial and pay for the plant by selling sunglasses and goggles alone. I am not too long into this company, and sold off 1/3 of my holdings before the conference call. Maybe I should have sold all of it, and saved the time I spent writing today. Maybe I am totally wrong. However, there was never an assurance given that there would EVER be a product on the market. A piece of the puzzle doesn't fit. IMHO GARY