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

To: longonrefr who wrote (50325)	12/9/2025 3:55:12 PM
From: poccidenarri	Respond to of 50388

I just looked at REFR’s chart again to make sure. Yes, just as I thought, REFR has been going down for years. No doubt about that.

To: longonrefr who wrote (50325)	12/9/2025 4:08:03 PM
From: poccidenarri	Read Replies (4) \| Respond to of 50388

Date (Filing/Announcement)TypeShares SoldGross ProceedsDescriptionMay 2002 (S-3 effective; takedowns 2002–2003)Shelf/ATM~2.5M (pre-split)~$5.5MInitial shelf for common stock; sold via Rodman & Renshaw to fund operations.March 2004 (424B5 supplement)ATM Takedown1.2M~$2.8MUnder 2002 shelf; cash for R&D.January 2006 (S-3 effective; takedowns 2006)Shelf1.5M~$3.2MNew shelf for $10M capacity; H.C. Wainwright placement.July 2008 (424B5)ATM1.8M~$1.5MCrisis-era raise; low price (~$0.80/share).May 2010 (S-3; takedowns 2010–2011)Shelf/ATM3.0M~$4.0MPost-recession; proceeds for patent defense.August 2012 (424B5)ATM2.0M~$2.2MUnder 2010 shelf; automotive focus.March 2014 (S-3 effective; takedowns 2014)Shelf1.0M~$1.8M$5M shelf; sold at ~$1.80/share.November 2015 (424B5)ATM0.8M~$1.0MQuick raise for licensing deals.June 2017 (S-3; takedowns 2017–2018)Shelf/ATM1.5M~$2.5M$10M capacity; last major ATM with H.C. Wainwright.February 2018 (424B5 supplement)ATM Takedown0.5M This is what you refer to as a tiny increase? Sorry about the poor formatting, but I think it still illustrates my point.