Well, if that's your definition of being a man.......to tuck your tail between your legs and run from a tough situation when you know you're right' then I feel sorry for you. I was raised to fight for what I believe in and my children have been raised the same way. It's not about the stock or the technology...... there's much more and most that have been around long enough know what I mean.
Wednesday's cc call epitomizes the history of RFI. One caller tries to reach down Joe's throat to find "numbers" that Joe refuses to supply and eventually cuts the caller off due to time constraints, while a second caller showers Joe with rose pedals and worships the very ground Joe walks on in his delivery. Quarter after quarter after quarter the same things have been said and nothing new has been added and people will continue to discuss the same topics over and over on the various boards grasping for vines as they sink further into the REFRsand. Going on 30 years now of non-profitability, or is it 50 years as the above second caller we'll name "George", (50 years? that puts us back to Mr. Saxe's beginnings, maybe our caller is familiar with RFI, than what he puts on), anyway we are given next quarter and the next quarter to look forward to in our journey. The market will tell us before the year is out if royalties are beginning to finally accelerate, the market knows. Then again the lack of interest that has been sewn into this operation (yes, I did say operation because this is not how a real company performs even though Joe has many convinced this is typical in everyday business, maybe someone should ask ND if it took her ancestors this long to make money in the glass business) sorry for going off on a tangent, but hey it's REFR after all.
Always happy, life is good.........just not a cheerleader. Seen many such as yourself on both sides come an go. Or just change their tags.
Unless you throw a third "hard" number in there, all we can do is come up with a wide ranging estimation. As important as the upcoming earnings report may be, IMO the first legitimate guidance that must accompany that report is more essential.
Look at it this way, Joe will have a solid grasp of production for the sedan by this time. Along with royalty figures and as he has stated in the past, a knowledge of the take rates, he has the ability to give us a pretty stable guidance into the next couple of quarters. He can do this without exposing any info on take rates or breaking any nda's.
Would you agree?
But whom is to blame for the manipulative maneuvers? Yeah, the "shorts" do this and the "shorts" do that! Find out who the "shorts" are and maybe you will have a better understanding of why. Why is it so easy for the "shorts"? Was there a liquidity problem or is it just a plain ole lack of interest in a company and it's cheerleaders/fans that have led many to slaughter? I wish I had a dollar for every time I heard of the "shorts" demise, now that would have been a better investment for REFR shareholders. Joe has gotten his wish and here the price sits. Did individuals at RFI put themselves ahead of the "mission"? And it's not just RFI, the "cheerleaders/fans" have repeatedly set timelines on various forums such as this one, that have never come to fruition. It's always next month or year or in a couple years! According to whom? RFI can't be blamed for all that silliness. But they did set the foundation for it. Maybe the "fans" think they paid for their tickets to get into the game so they have the right to do and say whatever. This isn't a game, it's a business. But honestly, RFI is winless and that is why the "shorts" can do whatever they want. No, the "shorts" are not to blame here.
Well bid, if you notice in your own post, that is a pr. Dig a little deeper. You said that Hitachi's was the preferred film, however Isoclima's spd film was of better quality as rumor has it. So why did Hitachi become the leader of spd film production?
Oh, by the way, I don't disdain Joe. As a matter of fact Joe and company has done me a tremendous favor and I will be eternally in their debt for the lessons learned.
Also, I would much rather discuss why oems besides MB have not introduced production vehicles with spd technology. Yes, it is all about the technology, but................
relying on a statement by Joe about "17 contracts currently under discussions" for an optimistic outcome. Don't know how long you have been around, but using such statements over the years has been Joe's way of trying to set the hook. How about: "multiple filmmakers commercializing spd film" or multiple projects in the pipeline" or "our shareholders are going to be rich", just a few off the top of the head all along while Frank Sinatra is crooning to us. Just remember, storytelling is the number one tool for salespersons. When RFI can pay all their bills with money earned from royalty revenues instead of panhandling from the wall street welfare system (which is another statement made by Joe, having no future need for such a handout, apparently the market has spit that hook back out) then we may be on to something. Yeah, the technology is great. But that is only a piece of this puzzle. And the market has told us so.
Over the years I believe it has been one or the other. Even remember JH getting a $50,000.00 bonus one year. It's like the kids......it's not their money, so what the heck.
Well, actually it is not free. When they exercise the options they must pay and also pay taxes on any gains. What they don't do is assume any of the risk that shareholders do if the options expire without exercising, it cost nothing to the option holder.
but I hate the thought of Joe giving away 5 years of competition to jump start spd in the auto market. Sounds like a desperate move to give in to MB, however he probably didn't have much of a choice. Just like everything else associated with this company, once again the same old phrase....."we'll see". The only problem is by the time we get to that point I may be to old "to see".
Couple things that have bothered me, on which I never really mattered for me in the past, is that as we supposedly draw nearer to increasing revenues (and possible profitability....can't believe I said that), recently the sp went down to the mid $4's and not one single insider jumped on that opportunity. Does that tell us anything.....don't know, but you would think as we draw closer to an anticipated rising sp?
Second thing coming from today's presentation, the median price per sq/ft has come down considerably since 2011 but still is way too high, particularly for the architectural market. Still a barrier for increased adoption by oems.
Market conditions notwithstanding, what is of particular interest to me is the fact that we have a CEO of a company in which it's technology has taken hold in at least one market, stating that they will no longer need to issue additional stock to finance the company. So this should Indicate that revenues will begin to exceed expenses. He also indicated that another market is beginning to catch a foothold. So, when most "trusted" CEO's state similar projections the sp begins a gradual ascent in advance as the market anticipates positive results. I could go on an on about the revised expectations by individuals and investment websites, but the fact remains that this company "gets no love" and that this is a referendum on the market's opinion of RFI's management and the leading of an investment community through a vast wilderness for close to thirty years of "ifs" , "ands", "buts", oh, and "we know but we can't say".
Also, with investors being told the automotive market is the main target, it is still early, but it seems we may be a shutout of the Frankfurt auto show. A market that we are suppose to depend on to increase exposure and revenues. Like I said it is still early.