Research Frontiers Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Research Frontiers Inc. has filed its Q1 2024 10-Q report, detailing licensing revenue and equity-related information.</b>

AI Summary

RESEARCH FRONTIERS INC (REFR) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. Research Frontiers Inc. filed a 10-Q for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's principal business is licensing its patented suspension technology. Key financial data and operational details for the quarter are included. The report details equity incentive plans and outstanding options/warrants.

Why It Matters

For investors and stakeholders tracking RESEARCH FRONTIERS INC, this filing contains several important signals. The 10-Q filing provides a quarterly update on the company's financial performance and operational status, crucial for investors to assess ongoing business health. Details on licensing agreements and customer concentration risk are important for understanding revenue streams and potential vulnerabilities.

Risk Assessment

Risk Level: — RESEARCH FRONTIERS INC shows moderate risk based on this filing. The company's business model relies heavily on licensing its patented technology, making it susceptible to changes in demand for its licensees' products and potential patent disputes.

Analyst Insight

Investors should review the detailed revenue breakdown by license agreement and customer to understand the concentration of revenue and potential risks.

Key Players & Entities

• Research Frontiers Inc. (company) — FILER
• 2024-03-31 (date) — CONFORMED PERIOD OF REPORT
• 2024-05-09 (date) — FILED AS OF DATE
• 240 Crossways Park Dr (address) — BUSINESS ADDRESS
• Woodbury (location) — CITY
• NY (location) — STATE
• 11797-2033 (postal_code) — ZIP
• 5163641902 (phone_number) — BUSINESS PHONE

FAQ

Risk Factors

• Customer Concentration Risk [medium — financial]: The company's revenue is derived from a limited number of licensees, making it susceptible to the financial health and business decisions of these key customers.

Industry Context

Research Frontiers Inc. operates in the patent licensing industry, focusing on its proprietary suspension technology used in various applications.

Regulatory Implications

The company is subject to SEC regulations for public filings, including the timely submission of quarterly 10-Q reports.

What Investors Should Do

1. Review the revenue breakdown by licensee to assess customer concentration.
2. Analyze the details of the equity incentive plans and outstanding warrants for potential dilution or future share impact.
3. Monitor any updates on patent litigation or new licensing agreements.

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-05-09: Filing Date — Date the 10-Q was officially filed with the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC) that provides a comprehensive update on a company's financial performance. (This filing provides investors with the latest financial and operational details of Research Frontiers Inc. for the first quarter of 2024.)

Year-Over-Year Comparison

This filing represents the first quarterly report for fiscal year 2024, following the annual 10-K filing.

Key Financial Figures

• $0.0001 — nge on Which Registered Common Stock, $0.0001 Par Value The NASDAQ Stock Market S

Filing Documents

• form10-q.htm (10-Q) — 316KB
• ex31-1.htm (EX-31.1) — 15KB
• ex32-1.htm (EX-32.1) — 8KB
• 0001493152-24-018416.txt (&nbsp;) — 1931KB
• refr-20240331.xsd (EX-101.SCH) — 19KB
• refr-20240331_cal.xml (EX-101.CAL) — 29KB
• refr-20240331_def.xml (EX-101.DEF) — 64KB
• refr-20240331_lab.xml (EX-101.LAB) — 160KB
• refr-20240331_pre.xml (EX-101.PRE) — 124KB
• form10-q_htm.xml (XML) — 143KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 12-14

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 14

Controls and Procedures

Item 4. Controls and Procedures 14-15

- OTHER INFORMATION

PART II - OTHER INFORMATION

Exhibits

Item 6. Exhibits 15

SIGNATURES

SIGNATURES 16 2 RESEARCH FRONTIERS INCORPORATED Condensed Consolidated Balance Sheets March 31, 2024 (Unaudited) December 31, 2023 (See Note 1) Assets Current assets: Cash and cash equivalents $ 2,093,458 $ 2,475,958 Royalties receivable, net of reserves of $ 1,253,450 in 2024 and 2023, respectively 956,783 1,003,404 Prepaid expenses and other current assets 240,771 96,784 Total current assets 3,291,012 3,576,146 Fixed assets, net 33,199 39,598 Operating lease ROU assets 142,972 178,715 Deposits and other assets 56,066 56,066 Total assets $ 3,523,249 $ 3,850,525 Liabilities and Shareholders' Equity Current liabilities: Current portion of operating lease liability $ 216,943 $ 212,359 Accounts payable 171,239 50,880 Accrued expenses 51,270 14,192 Total current liabilities 439,452 277,431 Operating lease liability, net of current portion - 55,363 Total liabilities 439,452 332,794 Shareholders' equity: Common stock, par value $ 0.0001 per share; authorized 100,000,000 shares, issued and outstanding 33,517,787 in 2024 and 33,509,287 in 2023 3,352 3,351 Additional paid-in capital 127,787,890 127,779,221 Accumulated deficit ( 124,707,445 ) ( 124,264,841 ) Total shareholders' equity 3,083,797 3,517,731 Total liabilities and shareholders' equity $ 3,523,249 $ 3,850,525 See accompanying notes to condensed consolidated financial statements. 3 RESEARCH FRONTIERS INCORPORATED Condensed Consolidated Statements of Operations (Unaudited) 2024 2023 Three months ended March 31, 2024 2023 Fee income $ 313,378 $ 248,175 Operating expenses 633,387 587,799 Research and development 149,741 149,222 Total expenses 783,128 737,021 Operating loss ( 469,750 ) ( 488,846 ) Net investment income 27,146 26,208 Net loss $ ( 442,604 ) $ ( 462,638 ) Basic and diluted net loss per common share $ ( 0.01 ) $ ( 0.01 ) Weighted average number of common shar

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View this 10-Q filing on SEC EDGAR