Between WWI and WWII, Billy Mitchell was
could be used effectively against
naval targets. He
was met with much skepticism from
the navy. To prove he was
right, he sunk a German
WWI battleship in front of their eyes. Did the navy
brass believe him after they saw a heavy battleship
turn upside down and sink? no
After reading all
of the press announcements from the past it
clear that REFR has been making steady progress
comercialization. Also note that it was not long ago that
black colored particle was an important research
And the latest news is substantial and
positive for REFR. I
don't see how anyone could
interpret it any other way.
<<I feel we owe a GREAT deal of gratitude
to Bob Saxe and the rest and I found it hard not to
get emotional when I think of how long and hard they
have worked toward this day. Especially how sad it
must have been for them not to have Bob Thompson there
to share it with them.>>
me that there were no kinds words expressed in the
memory of the late Mr. Thompson (unless it occurred at
the very start of the meeting -- I was several
minutes late in arriving). The man literally spent his
whole life on SPD.
<<I came on to the
board expecting to see at least one or two who might
also be celebrating>>
The more one knows
about REFR, and the longer one has known it, the more
likely one is to celebrate. The relative newcomers,
including myself, recognize this as good news, but don't
really understand as well as you do that this was great
news. Mea culpa for my lack of
Remember, any time you recognize something before the
market does, it represents a buying opportunity, so
...BUY, BUY, BUY!!
Bob Saxe and his team has provided the hard work.
Stockholders, including myself since 1991, have taken the risk.
The time is near for all of us to reap the benefits.
I have not purchased any stock in the last year to
add to my holdings of over 20,000 shares. I believe
our time has finally come. It may not be tomorrow or
next week but it will be soon. I plan on buying more
shares starting this week. I hope to be able to purchase
as many shares as possible at these bargain prices.
(continued from prior post)
release marks the end of the long and arduous journey
that Bob Saxe and Bob Thompson embarked on over 30
years ago and they DID IT and with NO DEBT hanging over
shareholders� heads! I was beside myself when I read the
announcement. It was in this frame of mind that I came on to
the board expecting to see at least one or two who
might also be celebrating and needless to say I was
incredulous that I would be encountering concerns that should
rightly have been buried after the Hankuk announcement
but still persist thanks to the willingness of our
"I�m not short---just a trader" friends who are more
than willing to fan your fears.
Admit it, it�s
the stock price that�s got everyone upset at REFR. If
we were at $20 a share no one would be moaning and
groaning about how many years they�d waited---especially
now that the wait is over. If the current stock price
bothers you then go out and get sponsorship for the
stock. Tell brokers to call the IR firm that the company
just hired (1-800-473-5169 Glen Santha) or tell them
to call Pat Bryant at the company
(1-888-SPD-REFR)and get literature on SPD and have their concerns
answered. Spread the word that SPD is coming! Get your
friends and neighbors to share in the dream. That�s what
the YIC is doing. It�s not easy when you have such a
concerted effort on the part of those who want to keep the
price down. How many of us have shared our enthusiasm
for this stock with others only to have them point
out to you the decline in price or the fluctuations?
They don�t call the company or investigate---they look
at the stock price to see if you know what you�re
talking about. It�s all about investor psychology (I
reprinted some interesting information on this in a prior
post with that heading).
Bottom line, I don�t
think the unwarranted blaming and complaining are going
to help current, former or potential investors have
a clear picture of what this company is offering in
1998. On the contrary, I feel we owe a GREAT deal of
gratitude to Bob Saxe and the rest and I found it hard not
to get emotional when I think of how long and hard
they have worked toward this day. Especially how sad
it must have been for them not to have Bob Thompson
there to share it with them.. Anyway, I�m sorry if I
Hemphands, aarrcc, and any other innocent
I believe that to be a truly good person one must
have a sense of humor and a sense of justice. The
former shows you have a brain and the latter, a heart.
In regards to the latter, I owe you all an apology.
No matter my feelings regarding your negativism,
skepticism it would have been better to answer your
questions than to mock your concerns or question your
motives. I had hoped that we had addressed these issues
regarding the history of licensees and alleviated those
negative concerns with the truth. I forget that
"Specstock" and few others have fueled your fears and spent
the last 3 years talking about how this company has
never come through with a "product" as if this was due
to anything other than the complexity of bringing
such a revolutionary new technology to market.
Most people to whom I�ve introduced REFR make the same
mistake of viewing this as they view all R&D companies
---as if we were dealing with some sort of new software
or widget that should have been on the market years
ago if only "management" had done it�s job. It was
only when I took time to explain the course of
development of SPD and how Saxe and Thompson got licensees to
participate in the development and refinement (Saving us
MILLIONS!!!!!). I told them to read the press releases so they
can trace the evolution from the early primitive
stages --- with a few curious licensees looking into
potential applications and providing valuable feedback to
the lab that precipitated necessary changes --- to
the current licensees who have moved from the R&D
stages to the commercialization phase. Now they have
completed the final stages which includes the setting up of
suppliers and film sources ---no mean task by any
standard---) and they have PUBLICLY announced that the
material for commercial runs is ready to go in 90 DAYS!
(continued next post)
Wife: "Honey, look there�s a press release on
Husband: "What?! 90 more days!
That long.!!!???? That�s it --- let me get on the
computer and unload our position."
honey, we�ve waited 5 years for this, shouldn�t we at
least wait to see if they do it? I mean didn�t you say
that we would make our money when the first licensee
came out with a product?"
Husband: "Why wait
when I�ve got these 2-3 sure things from 'specstock'.
We�ll triple our money and then we can buy back REFR
and have even more shares and be even richer. It�s
called the "Time Value of Money."
honey if they have a licensee bringing product to
market won�t that raise the value of company. I believe
from studying the numbers that the upside is quite a
bit more than triple today's value. It looks like
they will have soon have revenues that will be more
than the stock is selling for today."
"Yes, but what if there won�t be a product for at least
12-18 months? No one will buy it until the first
product is out and we can come back and buy all we
Wife: "But won�t SOME people figure out that this
technology is now coming onto the marketplace and then who
will want to sell us their stock when the product
release date is even closer? Honey were you wearing your
glasses when you read the press release? I don�t think
they would be saying this especially when they know
how you get at those annual meetings. You keep
shouting �Make me eat crow, Bobby! Make me eat crow!!�
Honestly you don�t even let me buy GE bulbs
Husband: "Honey, did you miss the last meeting of the
Southern Baptist Women�s Group. I believe they were going
over the new mandate that "a woman should be
cheerfully submissive to her husband."
Wife: "If it�s
all the same to you sweetheart, I�ll take half the
community property and buy your REFR shares from you and
move on. And no fair coming after me next year for
spousal support. Oh and at the Bible study we went over
"what you sow, so shall you reap." That�s why I like my
investment strategy better. It�s called "using your brain."
I notice that this morning we have a lot of
inquiring minds. Now call me cynical but does anyone else
notice a pattern here?
For all the inquiring
The recent press release confirms we are scaling up
to commercial runs shortly. MSC and Hankuk are on
track and very positive about the product being out.
Time frames will be up to them.
The news is
good and this stock is definitely undervalued.
Everyone I know is buying but has found it lucrative to
stay low and let stock come to them.
of believing, that's a question of faith. I derive
mine from seeing what the company has done. I
understand the complexity and magnitude of what they are
doing. I have written about this in post after post.
There are others who do not believe as strongly as I in
what the company says. I believe some of them to be
short sellers and day traders and some just
shareholders with unrealistic expectations. At NO time have I
been lied to by this company. At NO time have I been
told to expect product by a certain date. I have
investigated the licensees and what they have accomplished.
Some indeed were planning to commercialize earlier but
corporate pulled the plug because of start up costs and
unavailability of the film. That is all behind us---WAY behind
us. Film is available in 90 days in commercial run
sizes. President of Hankuk is committed to this. Hankuk
is solvent and has already put millions into this.
More licensees are lining up. The black particle will
widen the scope of application. Flat Panel Displays is
another huge market that is in the future. Right now
though we have glass product about to come onto the
<<And the latest news is substantial and
positive for REFR. I
don't see how anyone could
interpret it any other way. >>
If there's a
way they can deny the magnitude or minimize the
import of the recent announcement they will. Just read
through some of their posts. My personal favorite is
Thyraud's concern that the sun roof didn't darken quickly
enough. My guy at the meeting said it was in seconds if
We're stuck with this mixed blessing
for awhile. They have too much at stake not to try to
refute any good news. At least we can buy shares cheaply
-- that is the blessing.
Well we certainly have a diversity of opinions
expressed. I think REFR is a strong buy. even if you are the
most pessimistic of the bunch and think a product
won't be out for two years it is STILL a STRONG BUY.
The upside is HUGE!!!!
I have yet to decipher
what Rick, Thyraud, Hemphands believe. They say "we're
long" but what do they want us to make of their
concerns? Rick says he'll add to his position under $10. If
we're getting a product anything under $20 is cheap.
Why wait? Stock is near lows right now. but, hey, he
is planning on buying based on what he
Thyraud says he remains long but then he was the one who
thought there were 2 Hankuks. He said this when Merrill
recommended Hankuk as a buy. I guess he just couldn't believe
that it could be OUR Hankuk or maybe he just wanted to
paint a bad light on what was good news. That's so
unlike him! Even so he's not selling right now
Hemphands can't let go of the past. But even he says
"greed" has kept him aboard. As much as he detests
management even he can see that selling would be ridiculous
with this type of upside potential.
So, in a
way, I guess that's a BUY recommendation from all of
us. We may say it in different ways but bottom line,
we're just all one happy REFR family.
market makes strange bedfellows."