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 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.comKey Second Quarter 2020 Comments:
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.
The Company estimates that $194,140 of the PPP Loan principal will be forgiven based on payroll and other expenses incurred through June 30, 2020, and all or substantially all of the remaining loan will be forgiven under the terms of the CARES Act during the third quarter of 2020.Based upon the Company’s projected cash flow shortfall of approximately $450,000-500,000 per quarter, the Company expects to have sufficient working capital for at least the next 34 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 FrontiersResearch 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 which involve risks and uncertainties. This press release contains forward-looking statements. Actual results, especially those reliant on activities by third parties, could differ and are not guaranteed. Any forward-looking statements should be considered accordingly. “SPD-Smart” and “SPD-SmartGlass” are trademarks of Research Frontiers Inc.CONTACT:
Seth L. Van Voorhees
Chief Financial Officer
Research Frontiers Inc.
+1-516-364-1902
Info@SmartGlass.com
RESEARCH FRONTIERS INCORPORATED
Consolidated Balance Sheets
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RESEARCH FRONTIERS INCORPORATED
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