Production confirmed... yawn...

Frankly I didn't think the presentation at this year's annual meeting contained anything even worth a post to this blog, but the sheer determination of a handful of people to make a big deal out of it has been impressive enough for me to make a note of it.

So. Annual meeting 2006. June 8, 2006. Attending the meeting are Shigeo Sase, a general manager at Hitachi Chemical and Anthony Pirro of DIC Trading, the sales/marketing arm of Dainippon Ink and Chemical. (This Mr. Pirro is not of any known relation to the Pirro brothers of NYC-area tax evasion infamy.)

Mr. Pirro revealed an extremely minimal SPD production installation at Dainippon, with "plans to increase production". Mr. Sase's presentation was somewhat more specific, advertising "plans" for production capacity increases in October of this year, and much larger increase in October of next year.

Of course, plans are nothing if not subject to change. No doubt SPD Inc. had big plans in its day.

But what should have struck observant viewers was what was not said, and who was not there. Where, one might ask, were the representatives of the companies actually licensed to sell products based on SPD to the general public and/or companies outside REFR's immediate sphere of influence? Where were the plans for products once all this film is available? Who's placing the orders for this film?

A month and a half has now passed and still nothing has surfaced indicating that anyone has anything they particularly want SPD film for, other than make sample kits that show off how neat SPD is. Which you would not think would bode well for REFR, as its cash slows bleeds away, mostly into the pockets of the management that has been living off it for decades.

So we continue to wait for something, anything, to happen.