Research Frontiers Inc., developer of patented SPD-Smart light-control film technology, announced its financial results for its third quarter ended September 30, 2020. Management hosted a conference call , November 5 at 4:30 p.m. Eastern Time to discuss its financial and operating results as well as recent developments. The replay will be available for 90 days (starting Friday, November 6, 2020) at www.SmartGlass-IR.com.
Key third quarter 2020 comments
- The Company’s fee income from licensing activities for the nine months ended September 30, 2020, was 692,714 USD as compared to 1,182,560 USD 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.
- Total expenses decreased by 716,661 USD, or approximately 23%, for the for the nine months ended September 30, 2020, as compared to the same period in 2019.
- As of September 30, 2020, the Company had cash and cash equivalents of approximately 5.4 million USD and working capital of approximately 5.9 million USD. 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 with the SEC, the contents of which are incorporated by reference herein.