It's summertime and excuses are easy

Just in time to catch what is looking like a near-term bottom in the stock, REFR has come out with its summer newsletter.

The bulk of the "newsletter" is a detailed recounting, including full transcripts(!) of the annual shareholder meeting from two weeks ago. A first reading seems to back up early reports, so I won't go into too many details. I will note, that while they mention "representatives from Hitachi Chemical", they mentioned none of them by name. This kind of undercuts the insistence that he was at the meeting and is still fully in charge there, rather than retired as some reports have it. (You'd think this would be an easy point to settle!)

I would like to note the last paragraph of the newsletter. Ever vigilant for the latest up-to-date developments, REFR management decided to throw in a few "reassuring words" about the rather dramatic collapse of the stock over the past couple of weeks. This includes the popular chestnute, "the fundamentals have not changed," and that is certainly most true in REFR's case. One has to have fundamentals in the first place, for them to change.