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Research Frontiers of Woodbury plans to sell additional stock
Research Frontiers, a Woodbury-based maker of high-tech glass, plans to sell additional shares of its stock to fund its general operations.
The company, which has struggled to turn a profit in recent years, filed notice with the U.S. Securities and Exchange Commission on Monday that it would issues the stock along with warrants to purchase shares in the future.
Research Frontiers was founded in 1965 to develop light-control technology pioneered by the Polaroid Corp. It uses microscopic particles to make windows, skylights and sunroofs that allows users to adjust the amount light, glare and heat passing through the glass.
The company has 13 employees and has posted three consecutive annual losses, including a $4.1 million loss for 2011. Research Frontiers’ stock closed at $2.86 a share on Monday, down 20 percent for the year.