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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
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CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): December 16, 2009
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RESEARCH FRONTIERS INCORPORATED
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
DELAWARE 1-9399 11-2103466
(STATE OR OTHER JURISDICTION (COMMISSION FILE NUMBER) (IRS EMPLOYER
OF INCORPORATION) IDENTIFICATION NO.)
240 CROSSWAYS PARK DRIVE
WOODBURY, NEW YORK 11797-2033
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES AND ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (516) 364-1902
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of
the following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
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Item 7.01 Regulation FD Disclosure
Research Frontiers'licensee Hitachi Chemical Company, Ltd. issued a
press release on BusinessWire today (December 16, 2009) which
announced details about its new production facility and the expansion of
its production capacity for roll-coated, wide-width suspended particle
device (SPD) light-control film. Hitachi Chemical is now supplying
commercially usable film to end-product licensees of Research Frontiers
for the automotive, architectural, marine and aircraft markets. With
its newly completed coating line dedicated to production of SPD film,
Hitachi Chemical reports that it has expanded its production capacity
of SPD film to 400,000 square meters (4.3 million square feet) per year.
SPD-Smart(TM) products use patented SPD film technology developed by
Research Frontiers. With the touch of a button or turn of a dial, users
can instantly and precisely adjust the tint of windows, sunroofs, glass
roof systems, skylights and other products. Automated adjustment of
SPD-Smart products also is available using sensors or timing devices.
SPD films can be combined with other glazing materials, such as those
used in armored glass, to meet a wide range of end-product requirements
across many applications. Because they instantly and precisely control
incoming light and heat, SPD-Smart products offer energy saving benefits
because they can manage solar heat build-up and lower energy used for
artificial lighting.
In its press release, Hitachi Chemical highlighted the growing demand
for smart glass and several of the advantages offered by SPD film
technology when compared to other switchable materials such as liquid
crystals and electrochromics. Customers for Hitachi Chemical's SPD film
are end-product licensees of Research Frontiers around the world. These
companies receive the film, laminate it into glass or plastic, and then
fabricate end-products sold into various industries. End-product licensees
pay Research Frontiers a royalty on the sale of these end-products that
typically ranges from 10-15%.
Hitachi Chemical reports in its press release that it plans to "accelerate
the use of SPD film, which holds significant potential for growth" and
notes that "SPD film is positioned as one of the key emerging products
promoted by Hitachi Chemical to become a future leading product for
the company."
Hitachi Chemical gave a presentation to analysts dated October 30, 2009
on the company's performance during the first half of the year and
highlighted management issues for the second half. In that
presentation, Hitachi Chemical noted that it is projecting SPD film sales
of 5 billion yen ($53.4 million) in 2012.
Hitachi Chemical's press release about the foregoing dated
December 16, 2009 is incorporated herein by reference and filed as
Exhibit 99.1 hereto. A copy of this press release is available on
the Company's website at http://www.SmartGlass.com and is also
expected to be available on the Hitachi Chemical Co., Ltd. website
at http://www.hitachi-chem.co.jp.
The Hitachi Chemical presentation is also available on the
Hitachi Chemical Company's website at:
http://www.hitachi-chem.co.jp//english/ir/accounts/2009_2q/2009_2q_tn.pdf
This report, and Hitachi Chemical's press release and the presentation
referred to herein may include statements that may constitute
"forward-looking" statements as referenced in the Private
Securities Litigation Reform Act of 1995. Those statements
usually contain words such as "believe", "estimate", "project", "intend",
"expect", or similar expressions. Any forward-looking statements are
made by the Company in good faith, pursuant to the safe-harbor
provisions of the Act. These forward-looking statements reflect
management's current views and projections regarding economic
conditions, industry environments and Company performance. Factors,
which could significantly change results, include but are not
limited to: sales performance, expense levels, competitive activity,
interest rates, changes in the Company's financial condition and
several business factors. Additional information regarding these
and other factors may be included in the Company's quarterly 10-Q
and 10-K filings and other public documents, copies of which are
available from the Company on request. By making these
forward-looking statements, the Company undertakes no obligation
to update these statements for revisions or changes after the
date of this report.
The information in this Form 8-K, and Hitachi Chemical's press
release and the presentation referred to herein shall not be
deemed "filed" for purposes of Section 18 of the Securities
Exchange Act of 1934, nor shall they be deemed incorporated
by reference in any filing under the Securities Act of 1933,
except as shall be expressly set forth by specific reference
in such filing.
Item 9.01. Financial Statements and Exhibits.
(c) Exhibits.
99.1 Hitachi Chemical Company Press Release dated December 16, 2009
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
RESEARCH FRONTIERS INCORPORATED
/s/ Joseph M. Harary
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By: Joseph M. Harary
Title: President
Dated: December 16, 2009