Research Frontiers Inc. (REFR, Financial) 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.
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.
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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 sixmonths 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.
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