Asensio & Company, Inc. believes that Research Frontiers Incorporated’s (NASDAQ: REFR) (Price: $14.41) long running stock promotion typifies the class of questionable market activity that contributes to economic instability. To date, Asensio & Company has issued a total of eight reports on REFR. The reports describe REFR’s exaggerated predictions and failure to disclose the causes of its 35 years of commercial failure, and its use of rosy predictions and omission of material negative facts to sell stock to the public.
Asensio & Company’s most recent report on REFR titled “REFR’s false news story exposed” focuses on REFR’s use of the media in its stock promotion and its apparent policy to reuse identical stock promotion schemes as if they were new. The report, which is available at www.asensio.com, gives evidence that REFR’s most recent AP Technoglass story published in Automotive News contained statements that contradict earlier REFR disclosures. In fact, the statements are so contrary to the earlier disclosures that they appear to have been intentionally fabricated for promotional purposes.
Asensio & Company believes REFR is grossly overvalued.