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

To: Joe Bilich who wrote (920)	10/4/1998 11:19:00 PM
From: Roger A. Babb	Read Replies (3) \| Respond to of 50136

Joe, Ailorous also financed HVSF, you might want to check and see how that turned out. I doubt that REFR can out manuver Ailorous trading shares. Note that Ailorous can not be forced to buy shares above 92% of the then current market price, Ailorous has the right to not buy if the floor price is set above market. In theory I guess REFR could run the price up buying its own shares and then put those shares to Ailorous at the higher market price created by the buying. But I suspect that Ailorous has been around long enough to have covered that base. It is extremely unlikely that Ailorous will lose money on this deal.