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

To: Mama Bear who wrote (1154)	10/17/1998 6:01:00 PM
From: N. Dixon	Respond to of 50716

<<What about the agreement with GE and with Material Sciences Corp, both of which were pre 4/97?>> You are confusing a licensing agreement with the fact of a licensee ANNOUNCING that they are coming out with a product using SPD. Just having a license is the first step. This allows them to get certain information from REFR and technical support as they work on developing prototypes. Hankuk was a licensee in 1992 but didn't ANNOUNCE they had PRODUCTS ready to bring to the market until 1997. This is why the recent announcements you read have to do with setting up the infrastructure for the licensees so they can purchase the materials that go into making SPD. These materials were not available in bulk size therefor no licensee who wanted to produce SPD products could get the materials. Now Hankuk, MSC and Vision-Ease have sources where they can get the material (I think Larry covered this somewhat in his post). This is the first step. Once Hankuk and MSC manufacture film that will allow a whole new level of licensees to come forth. Those would be the companies who want to purchase SPD film from Hankuk or MSC to incorporate in THEIR products. This gives us another level of royalty income as the agreements with Hankuk and MSC stipulate that anyone BUYING the film from them must also obtain a license from REFR. I hope this clears up your misunderstanding. ND