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Research Frontiers Reports Third Quarter 2020 Financial Results
Management to Host Conference Call at 4:30 p.m. WOODBURY, N.Y., Nov. 05, 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., Nov. 05, 2020 (GLOBE NEWSWIRE) -- Research Frontiers Inc. (Nasdaq: REFR) announced its financial results for its third quarter ended September 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: November 5, 2020, 4:30 PM ETDial-in Information: 1-888-334-5785Replay: Available on Friday, November 6, 2020 for 90 days at www.SmartGlass-IR.com Key Third Quarter 2020 Comments: 1. The Company’s fee income from licensing activities for the nine months ended September 30, 2020 was $692,714 as compared to $1,182,560 for the nine months ended September 30, 2019. Lower fees in the automotive and aircraft markets were partially offset by higher fee income from licensees in the architect and display markets. 2. Total expenses decreased by $716,661, or approximately 23%, for the for the nine months ended September 30, 2020 as compared to the same period in 2019. 3. As of September 30, 2020, the Company had cash and cash equivalents of approximately $5.4 million and working capital of approximately $5.9 million. The Company expects to have sufficient working capital for at least the next 27-29 months of operations. For more details, please see the Company’s Quarterly Report on Form 10-Q which was filed today with the SEC, the contents of which are incorporated by reference herein. About Research Frontiers Research Frontiers (Nasdaq: REFR) is a publicly traded technology company and the developer of patented SPD-Smart light-control film technology which allows users to instantly, precisely and uniformly control the shading of glass or plastic products, either manually or automatically. Research Frontiers has licensed its smart glass technology to over 40 companies that include well known chemical, material science and glass companies. Products using Research Frontiers’ smart glass technology are being used in tens of thousands of cars, aircraft, yachts, trains, homes, offices, museums and other buildings. For more information, please visit our website at www.SmartGlass.com, and on Facebook, Twitter, LinkedIn and YouTube. Note: From time to time Research Frontiers may issue forward-looking statements wh...