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

To: N. Dixon who wrote (980)	10/6/1998 2:15:00 PM
From: Jonathan Babb	Read Replies (1) \| Respond to of 50500

The Class A warrant specifically says that Ailouros is "required" to buy the stock during the next three months. Thanks for agreeing to be civil. I basically agree with your previous assesment of the warrants, except that you leave out the provision that Ailouros is not required to buy the stock if the REFR floor price is greater than 92% of the market price, as I explained earlier and highlighted in the SEC filing. As far as shorting the stock, I would not put REFR at the top of my list versus the many other good shorts in the market place (for those in need of hedging quality long positions) just based on the fact that they have survived for so long. However, for every company the time eventually comes when it's time to "show us the money!". You seem to think that time is now for REFR, so good luck! I'm sure everyone will be interested in any technology advance or contracts made in the very short time frame that is being promised. Should be very exciting for the company indeed. Good luck! Jon