A promotion of another sort

REFR began 2008 with the dramatic announcement that Steven M. Slovak, previously Director of Film Development, was now Vice President - Technology. Given that there was no such position previously, and that it wasn't stated whether anyone else was replacing him in his former position, it's a little less than clear what, if anything, this actually means. But, since it was apparently worth a press release and a 8-K filing, one has to presume it means something. We'll be sure keep tabs on this vital development as events warrant.

Out with (some of) the old

As a literally last-minute release for the year 2007, REFR announced the retirement of board member Dr. Al Malvino. Malvino, ironically, despite being 76 according to the release, actually had been REFR's most recent addition to the board until their additions earlier this month. He had also been a heavy advocate of the stock on the message boards up until 2000.

It is of note that Malvino's personal website, which one contained considerable information on SPD technology, has had all those references removal, replacing them with electrical engineering material of the type he used in the various textbooks he wrote over the course of his career.

Malvino did cite health concerns as at least part of his reason for retirement, and although he issued a statement expressing enthusiasm about the company, one is still left to wonder about the fact that, for all the effort he placed into very careful and extensive research into the company, as document on the message boards, none of it actually bore revenue-producing fruit during his tenure there.

With two additions to the board that would seem to imply one more retirement may be in the offing, but apparently that person is not quite ready to take the gold watch just yet. Stay tuned.