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  • 3 Small-Cap Growth Industrial Tech Companies [View article]
    Not only that but back when I followed them which was for about 5 years they only had like 10-12 employees. This is a shell company of nothing but a few patents that never amounted to anything. And if the patents were really worth something someone big would have bought these guys out by now. The reality is that its a scam.

    I used to invest a lot between 1998 and 2003, then not so much, and finally stopped all together. A combination of boredom and well now I have four kids. Just don't have time. But for whatever reason I stumbled upon your article and thought I'd better warn people.
    Nov 3, 2012. 02:33 AM | Likes Like |Link to Comment
  • 3 Small-Cap Growth Industrial Tech Companies [View article]
    Sorry I was referring to REFR. Look up REFR on fool.com and search with "REFR 2002", etc... They had a series of articles on them somewhere between 1999 and 2005. These guys have been doing a long term pump and dump on this stock for like 45 years now. Its disgusting that these people behind this company even exist. I bet their still promising their windows will be used on airplanes. I'm sorry but a window that requires electricity to dim and keep out the light is not going to fly in these energy conscious days. As part of my own research into this company I had them send me a quote for a typical house window size. It was like $5000 or something like that. If the stock goes over 10 its an easy short. I'm telling you this is one big penny stock scam kind of company. At any rate I followed this company for a while and even shorted it once. Here is a link to one of the fool.com articles from way back. 10-28-2002.

    http://bit.ly/R0PhjY

    Fool.com: Research Frontiers [Special] October 28, 2002

    By The Motley Fool | More Articles | Save For Later
    October 28, 2002 | Comments (0)


    Research Frontiers (: REFR)
    trading at $11.01 as of 10/24/02

    It's not just a trick; it's a 35-year-old trick. Research Frontiers(Nasdaq: REFR) has marketed its Suspended Particle Device (SPD) smart glass technology for more than three decades, and has yet to generate much in the way of revenues, much less earnings.

    What the company does, and awfully well, is promote itself with press release after press release that speak of licensee after licensee, all of which are imminently going to sell products using Research Frontiers' technology. Except they don't.

    This is a $119 million company with a price-to-sales ratio of more than 800. Even a cursory read of its 10-K gives me the impression the main product it sells is the company's stock.

    The inside cover of Research Frontiers' 2001 Annual Report quotes a letter to shareholders: "Research Frontiers is no longer a 'concept company.'" The insinuation is that the company will finally make the transition from a research organization with a neato idea to one that generates revenues based upon the technology and service it offers. Well, we've come to the end of October, and nothing's happened.

    But that's not new. A look at Research Frontiers' press releases offers a litany of past press releases about the availability and soon-to-be commercialization of its SPD technology. For example, in a press release from 1997, Research Frontiers hails Hankuk's announcement that it would begin commercial production in the following year.

    Hankuk's President, Kim Sung Man, said that Hankuk forecasts rapid expansion of the demand for SPD smart windows because of their excellent protection from ultraviolet radiation in sunlight, as well as their ability to efficiently vary the amount of light transmission. Hankuk plans to commercialize a wide range of SPD products and to establish new production facilities next year.

    Earlier this month, Research Frontiers and Hankuk Glass Industries entered into a new expanded license agreement, which permits Hankuk to produce and sell throughout the world a wide range of products using SPD technology, including architectural windows, skylights, transportation vehicle windows for cars, boats, trains, aircraft and spacecraft, and sunroofs, as well as information displays for all types of products such as computers, televisions, beepers, cellular and other telephones, scientific instruments, toys, and contrast enhancement/glare reduction filters. Hankuk's license also permits them to sell automotive sun visors and rear-view mirrors as original equipment for cars manufactured in Korea.

    That production schedule would have called for the launch of commercial sales by Hankuk in 1998. It is now more than four years later. Nothing.

    According to press releases, Research Frontiers signed a licensing deal with Glaverbel for automotive rear-view mirrors in 1994, and Glaverbel sent prototypes to the big three auto manufacturers, Ford(: F), General Motors(NYSE: GM), and Chrysler. CEO Robert Saxe said, "Glaverbel and Research Frontiers were proceeding rapidly with development of the SPD rear-view mirror product." To date, not a single one has been sold.

    But perhaps the annual report was correct. In July, Research Frontiers announced "better-than-expected results" from recently launched marketing campaigns by its licensees," including ThermoView Industries(AMEX: THV). Regardless, Research Frontiers' $80,000 in revenues in the quarter that ended June 30 was comprised entirely of licensing payments. It'll be awfully interesting to see, in the next 10-Q in another three weeks, what those "better-than-expected results" mean in sales, but Research Frontiers has yet to announce numbers. Given the history of big promises and negligible follow-through, I'm not holding my breath.

    You might wonder if Research Frontiers' shareholders and directors have lost their minds, having put up with so many years of failure by the company's management to generate revenue-bearing sales. Even if the product is good, a management is judged on its ability to turn that product into cash flows. Not at Research Frontiers. Executives receive performance bonuses based not on revenues, not on profits, not on cash flows, but on market cap. If they can talk the stock price up, they get bonuses. Period. By the way, the company's directors get a performance bonus based on stock price, as well. It's no wonder that they don't bark at years of futility. They're kept men.

    As such, the top two executives, Robert Saxe and Joseph Harary, received $1.42 million in total compensation in 2001, 10 times the company's revenue for the same year. This compares with a top two executives compensation-to-sales ratio in 2000 of 4.9, and a TTEC/S ratio in 1999 of 5.1. That's absurd. It would only be possible if there were a long line of suckers willing to buy shares.

    Apparently, there has been. Don't be one of them. Stay very far away
    Nov 3, 2012. 02:29 AM | Likes Like |Link to Comment
  • 3 Small-Cap Growth Industrial Tech Companies [View article]
    This company is run by skam artist. They have been in business for almost 30 years maybe more and have never made a dime. They sell only one thing. Stock! They are masters at pumping their stock every 2 years or so. If you search back far enough like 1999 - 2002 motley fool basically did a great expose on them. The people are crooks.

    You've been warned. Sorry to see that this kind of trash article has made its way onto seeking alpha.
    Oct 27, 2012. 10:46 PM | Likes Like |Link to Comment
  • Investing In A Fed Manipulated Era [View article]
    Responding to an earlier post I would also point out that a weak currency with a weak job market self reinforces high unemployment. If we can buy less goods with the money we make from our jobs than we buy less goods. Less quantity purchased equals less jobs and so on and so forth. I don't have time to go into it but I think we shoud have a target deflation rate of negative 1% or so. That would be low enough to avoid a hoarding effect but would do the opposite of the above and encourage more production of everything which would get things going in the right direction. But the need to protect the bankers who essentially fund both political parties and ARE the Federal Reserve do not even allow for this kind of out of the box thinking. They protect their own first. This is why wall street is seeing profits again while unemployment stays high. They are slowing liquidating themselves out of the mess they made of things while the middle class private sector workers get squeezed. Our only hope is that eventually the Fed increases the capital reserve requirements for banks. It will squeeze them for a change while dampening inflation without the Fed having to reduce overall M1 money supply. Any other course as I see it will cause massive inflation and or deflation. There is no free lunch. And until the bankers take their medicine we will continue with this stagflation.
    Mar 29, 2012. 10:55 PM | Likes Like |Link to Comment
  • Investing In A Fed Manipulated Era [View article]
    Of course don't forget the booms that the Fed created that led to the housing boom. Before the housing boom we had a brief bubble around 1997. Greenspan coined the term Irrational exhuberance.... The Fed dropped rates and then we had the internet boom. And it was actually the Fed keeping rates low after the internet bust and 911 that created the inflated housing market. Cash was leaving stocks and new borrowing was all going into housing.

    We would be much better off in the long run if the Fed would let interest rates float naturally but they seem to have forgotten this concept entirely. When things heat up rates should go up not down. When things cool down the rates should also go down. In this way the interest rates would act as dampeners on the markets. Instead we have been allowing the Fed and the politicians to use interest rates as amplifiers.
    Mar 21, 2012. 04:52 AM | 1 Like Like |Link to Comment
  • Investing In A Fed Manipulated Era [View article]
    My grandmother (now passed on) did that. Best investor in the family by far.
    Mar 21, 2012. 12:03 AM | Likes Like |Link to Comment
  • Bank Lending And Money Supply Update [View article]
    Who knows? Market manipulation makes everything speculative. This is why business sucks right now. People fear instability in markets and things have been pretty volitile since the late 90's
    Nov 1, 2011. 04:03 AM | 2 Likes Like |Link to Comment
  • BP's 5% Yield And P/E Of 5: Simply Too Cheap [View article]
    Interesting. I'm going to look into this stock. The first thing I'm going to do is see if there are any other oil stocks that are priced similarly without the gulf legal issues hanging over it.
    Oct 6, 2011. 12:47 AM | Likes Like |Link to Comment
  • Why QE3 Wouldn't Work and Why It Won't Happen [View article]
    The previous stimulus/QE attempts were simply guided to inflate prices and provide liquidity. But with unemployment so high wages are held in check. So inflated prices means we can now only buy less goods than before. Less goods mean less has to be made which results in even higher employment.

    The only kind of stimulus/QE that helps (albeit only a little) is the kind that directly employs people. Pumping money into the system to shore up banks, the stock market aren't going to employ anyone. It does just the opposite.

    What we actually need is 1-2% very mild DEFLATION. This would allow people to buy more stuff which will result in higher employment. Not only that but in some sectors it may allow for wages to fall (which un does the higher employment benefit) but does allow our economy to stop bleeding jobs to overseas countries where wages are lower. It would also make it easier to get through the Medicare and Social security crisis ahead.

    The whole asset bubble was due to the very notion that higher prices create some kind of positive feeback loop. We had a bubble because the inflation caused by Greenspan signaled to the markets that supply must be tight (especially in housing....even had Cramer screaming that land was rare). This was money inflation though. It was a false signal. So we over built houses, and almost every kind of building imaginable. Manufacturer's and car companies built too many factories. As soon as it became apparent that rising prices were not because real sustainable demand outstripping supply it was too late. The large capital investments can't be undone. So we have too much supply and capacity for real demand. Thus we entered the negative loop we are in now.

    Trying to solve an oversupply problem by creating more false price signals won't work. The spare capacity is there. Businesses have figured out that they don't need more production capacity. What is needed is MORE DEMAND. Demand will follow employment rates. So we need LOWER PRICES. If more economist understood Hayeks and Mise's austrian business cycle and the causes for the ups and downs they'd realize how we got here.

    It is going to be slow process to unwind this mess. But trying to prop up asset prices so bankers can continue to make huge profits is going to make this a very long and painful process. The bankers are going to have to be poor for a while with razor thin margins and prices are going to have to drop for this economy to recover. I'm afraid the conventional wisdom on this matter are all wrong.

    If the FED is able to target 2-3% inflation they should be able to target 1-2% deflation. And I'm sorry but mild 1-2% deflation isn't going cause people to put of their purchases.
    Aug 19, 2011. 02:33 PM | 1 Like Like |Link to Comment
  • From an Ownership Society Back to Renters [View article]
    Decent idea on paper. Will probably end up being another facist scheme where if you have a lot of money and your connected to the right people they'll sell it to you for practically nothing.
    Aug 12, 2011. 10:41 PM | 2 Likes Like |Link to Comment
  • Just How Bad Have the Last 3 Days Been? [View article]
    I agree with Moon. This type of analysis is like saying because the coin has landed on heads five times in a row that the odds for hitting tails the next time is anything different than 50-50. My opinion is that two months from now the market will be lower. I'm in the construction biz in Florida and I can tell you we are still bumping along the bottom. Florida's economy simply hasn't rebounded. I know its different elsewhere but we are a big state. Remember to that publicly traded companies are more levered to government spending than small businesses. So they have benefited from the government spending which at best is being quickly tapped out. Fiancials have also been doing great but again primirily due to government bail outs. These bailouts are temporary and without structural changes underneath of it all don't fix the core problems. My FEELING is that we are still in the same recession that really started in 2001. The structural changes in our economy have never really taken place because our government has been fighting the necessary wage deflation that will be require to achieve full employment again. Deflation (moderate in nature) is the cure. But we fear the cure so much we keep digging in deeper. My gut tells me that we've basically had one recession after another with each being followed without a drop in umemployment.

    The stock market is in trouble unless it is propped up again by the Federal Reserve secretly buying stock. I'm pretty sure that is what happened with the stock market rebounded from 7000 to 9000. It gave the Federal Reserve a liquid way to manage our currancy.
    Aug 9, 2011. 02:15 AM | 2 Likes Like |Link to Comment
  • Best Stock Bargains After Market's Bloodbath [View article]
    That said MSFT under 25 has been a good buy for a long time now. It has cycled between 25 and 32 many times now. Under 20 it is a real steel. I don't follow the other companies much.

    I used to follow CVX a lot also. This company has long underperformed expectations. It does swing with oil prices but don't expect any real out performance.
    Aug 9, 2011. 02:04 AM | 3 Likes Like |Link to Comment
  • Best Stock Bargains After Market's Bloodbath [View article]
    Falling Knives......ouch...watch out. Economy is stalled and stocks are overpriced as forward earnings won't be as projected.
    Aug 9, 2011. 02:00 AM | 2 Likes Like |Link to Comment
  • Senate panel gathering facts on S&P downgrade [View article]
    S&P had the courage to do what everyone else should have done a long time ago. Its about time somebody formally recognized the serverity of the issue. The US government is going broke. Everyone and I mean everyone is going to to have to take a hit. Lower standards of living are in store for everyone. The government itself is going to have to take major hits. We have to get back to real work in this country.
    Aug 9, 2011. 01:40 AM | Likes Like |Link to Comment
  • Southern Europe: Beyond a Demographic Point of No Return [View article]
    Japan is rebuilding their country slowly. We are headed where they were. Lets not also forget the huge disadvantages they have. Its an island. They must import resources and then export. Pretty impressive that they are competitive at all. In the US we have everything. oil, tons of agricultural land, and other resources, etc...
    Aug 6, 2011. 03:12 AM | Likes Like |Link to Comment
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