It was a wild ride for REFR stock in 2007, but in the end, the only thing that had an impact on the income statement was the technology sharing agreement with Hitachi, which looks to have provided roughly half the company's revenue for the entire year (although, as is their wont, the company made no effort to actually break that down in their 10-K filing last night).
The revenue number was just a hair over $400,000, which, in headier times, might be hyped loudly as the 150% increase over last year that it technically is. But that is rather heavily overshadowed by the steeply greater net loss of over $7.5 million, largely due to a huge upswing in stock option issuances during the stocks run in the teens last year.
Other than that, there's nothing much in the report other than a parsing and counter-parsing of the various ways in which the state of licensee activity is portrayed: what they say, what they don't say, what they say they can't say, etc.
Based on the stock's reaction today, I'm kind of doubting 2008 will be anywhere near as fun for the shareholders as 2007 was.
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