Ownership and insider activity for Research Frontiers Incorporated (REFR): insider transactions, US Senate and House trading disclosures and shares outstanding. Track how corporate insiders and politicians are trading the stock.
Research Frontiers Incorporated (REFR) stands as a global innovator, focusing on the development and commercialization of advanced light-regulating technologies and associated devices. The company's core business revolves around its proprietary Suspended Particle Device (SPD-Smart) light-control technology, which it licenses to other businesses.
Price
| Price | $0.38 |
| Market Cap | $13M |
| Exchange | NASDAQ |
| Country | US |
Recent Insider Transactions
| Date | Insider | Type | Shares | Value |
|---|---|---|---|---|
| 2025-12-31 | Daigle Darryl | A-Award | 45,000 | $60K |
| 2025-12-31 | HARARY JOSEPH M | A-Award | 65,000 | $86K |
| 2025-12-31 | Kaganowicz Alexander | A-Award | 45,000 | $60K |
| 2024-12-31 | HARARY JOSEPH M | A-Award | 60,000 | $101K |
| 2024-12-31 | LAPOINTE MICHAEL R | A-Award | 6,000 | $10K |
| 2024-12-31 | Daigle Darryl | A-Award | 45,000 | $76K |
| 2024-12-31 | Kaganowicz Alexander | A-Award | 45,000 | $76K |
| 2024-12-31 | Peso Eyal | A-Award | 45,000 | $76K |
| 2024-06-14 | Kaganowicz Alexander | P-Purchase | 2,000 | $4K |
| 2024-06-07 | Daigle Darryl | P-Purchase | 4,300 | $7K |
Balance Sheet (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.7M | $1.7M | $3.0M | $6.6M | $4.8M | $269964 | $4.2M | $2.5M | $2.0M | $664299 |
| Short-term Investments | $1.5M | 0 | 0 | 0 | 0 | $2.8M | 0 | 0 | 0 | 0 |
| Receivables | $1.1M | $597441 | $689677 | $656062 | $598292 | $831636 | $589599 | $1.0M | $658213 | $408666 |
| Inventory | 0 | 0 | -$0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | $4.6M | $2.4M | $3.7M | $7.3M | $5.4M | $3.9M | $4.9M | $3.6M | $2.7M | $1.1M |
| Property, Plant & Equipment | $651655 | $482561 | $313177 | $915709 | $738214 | $562778 | $388897 | $218313 | $1.2M | $1.1M |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Assets | $5.3M | $2.9M | $4.1M | $8.3M | $6.2M | $4.5M | $5.4M | $3.9M | $4.0M | $2.3M |
| Accounts Payable | $29932 | $58090 | $133486 | $169750 | $33410 | $66460 | $71079 | $50880 | $85825 | $132666 |
| Short-term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | $369270 | $313747 | $457662 | $387429 | $226066 | $297936 | $301863 | $277431 | $269027 | $297877 |
| Long-term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | $369270 | $313747 | $959076 | $1.2M | $872285 | $762064 | $569586 | $332794 | $1.4M | $1.3M |
| Retained Earnings | -$106.6M | -$109.1M | -$111.7M | -$115.5M | -$117.8M | -$119.7M | -$122.4M | -$124.3M | -$125.6M | -$127.6M |
| Total Equity | $4.9M | $2.6M | $3.1M | $7.1M | $5.3M | $3.8M | $4.8M | $3.5M | $2.6M | $933626 |
| Total Debt | 0 | 0 | 0 | $975832 | $812596 | $646219 | $464128 | $267722 | $1.3M | $1.2M |
| Net Debt | -$3.2M | -$1.7M | -$3.0M | -$5.6M | -$4.0M | -$2.4M | -$3.8M | -$2.2M | -$698026 | $501986 |
| Working Capital | $4.2M | $2.1M | $3.3M | $6.9M | $5.2M | $3.7M | $4.6M | $3.3M | $2.5M | $846057 |
Financial Health
| Debt / Equity | 0.97 |
| Current Ratio | 3.54 |
Profitability
| Return on Equity | -168.53% |
| Return on Invested Capital | -102.71% |
| Return on Assets | -90.87% |
| Gross Margin | 86.55% |
| Operating Margin | -348.14% |
| Net Margin | -343.85% |
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