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Research Frontiers Reports Second Quarter 2020 Financial Results
Management to Host Conference Call at 4:30 p.m. WOODBURY, N.Y., Aug. 06, 2020 (GLOBE NEWSWIRE) -- Research Frontiers Inc. (Nasdaq: REFR) announced its
About this update from Research Frontiers Incorporated
[{"type":"text","content":"Management to Host Conference Call at 4:30 p.m.\n WOODBURY, N.Y., Aug. 06, 2020 (GLOBE NEWSWIRE) -- Research Frontiers Inc. (Nasdaq: REFR) announced its financial results for its second quarter ended June 30, 2020. Management will host a conference call today at 4:30 p.m. Eastern Time to discuss its financial and operating results as well as recent developments. Who: Joseph M. Harary, President & CEO, Seth Van Voorhees, CFODate/Time: August 6, 2020, 4:30 PM ETDial-in Information: 1-888-334-5785Replay: Available on Friday, August 7, 2020 for 90 days at www.SmartGlass-IR.com Key Second Quarter 2020 Comments: 1.In August 2020, Daimay, the world’s largest supplier of automotive sun visors, licensed Research Frontiers’ SPD-Smart light-control film technology for use in automotive sun visors. SPD-Smart light-control technology will enable Daimay to develop products that automatically and dynamically adjust the sun visor to deal with changing light and glare conditions.2.In June 2020, Research Frontiers announced that it has been added to the Russell 2000® Index effective on June 29, 2020. The Annual Russell index reconstitution captures the 4,000 largest US stocks ranking them by total market capitalization. Membership in the U.S. Russell 2000 Index® remains in place for one year and also means automatic inclusion in the appropriate growth and value style indices. Russell indices are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies.3.As discussed on our last investor conference call, in April 2020, Gauzy Ltd. announced that it secured Series C investments from Hyundai Motor Company, Blue Red Partners VC, and Avery Dennison. This strategic investment marks the first known equity investment by an automotive OEM in Research Frontiers’ entire industry.4.The Company’s fee income from licensing activities for the six months ended June 30, 2020 was $532,286 as compared to $719,692 for the six months ended June 30, 2019. Lower fees in the automotive and aircraft markets (believed to be related to temporary customer shutdowns in these industries due to the COVID-19 pandemic) was partially offset by higher fee income from licensees in the architectural and display markets. 5.Total expenses decreased by $452,011, or 20%, for the for the six months ended June 30, 202...