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Research Frontiers Inc. Reports Operating Results (10-Q)

August 07, 2009 | About:

Research Frontiers Inc. (REFR) filed Quarterly Report for the period ended 2009-06-30.

RESEARCH FRONTIERS INC. is primarily engaged in the development and licensing of suspended particle technology and devices to control the transmission of light. Research Frontiers Inc. has a market cap of $57.4 million; its shares were traded at around $3.65 with and P/S ratio of 34.2.

Highlight of Business Operations:

Operating expenses increased by $456,569 for the first six

months of 2009 to $1,965,036 from $1,508,467 for the first six

months of 2008. This increase was principally the result of

increased non-cash charges to operating expenses ($275,000)

resulting from grant of restricted shares to directors, employees

and a consultant, as well as higher directors fees and expenses

($160,000) and higher patent costs ($68,000) and higher

professional fees ($58,000), partially offset by lower investor

relations/marketing costs ($32,000) as well as lower consulting

costs ($65,000).



Research and development expenditures increased by $50,802

to $795,763 for the first six months of 2009 from $744,961 for

the first six months of 2008. This increase was principally the

result of higher payroll and stock compensation charges

($7,000) plus higher materials costs ($61,000), partially offset

by lower allocated rent and building maintenance costs ($13,000).



As a consequence of the factors discussed above, the Company\'s

net loss was $2,422,209 ($.15 per common share) for the first

six months of 2009 as compared to $1,847,988 ($.12 per

common share) for the first six months of 2008.



Operating expenses decreased by $57,537 for the three months

ended June 30, 2009 to $648,737 from $706,274 for the three

months ended June 30, 2008. This decrease was principally the

result of lower marketing and consulting costs ($63,000) as well

as lower patent costs ($44,000) partially offset by higher

non-cash charges resulting from grant of restricted shares to

directors, employees and a consultant ($29,000) as well as lower

allocated insurance costs ($9,000).



Research and development expenditures increased by $4,327 to

$329,388 for the three months ended June 30, 2009 from

$325,061 for the three months ended June 30, 2008. This

increase was principally the result of material costs ($32,000)

partially offset by lower payroll and stock compensation charges

($11,000) as well as lower allocated insurance ($8,000) and

building occupancy costs ($10,000).



During the first six months of 2009, the Company\'s cash and

cash equivalent balance decreased by $821,066 principally as a

result of cash used to fund the Company\'s operating activities of

$2,099,031, partially offset by $1,299,756 in proceeds from the

maturity of an investment in U.S. Treasury Securities. At June

30, 2009, the Company had working capital of $2,445,316 and

its shareholders\' equity was $2,800,965.



Read the The complete Report

Rating: 2.0/5 (1 vote)

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