$REFR

RESEARCH FRONTIERS INC

CIK:0000793524|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Fee income	$ 86,346	$ 129,904	$ 222,665	$ 689,680
Operating expenses	627,216	775,922	1,148,598	1,412,398
Research and development	128,884	169,086	274,234	331,963
Total expenses	756,100	945,008	1,422,832	1,744,361
Operating loss	(669,754)	(815,104)	(1,200,167)	(1,054,681)
Net interest income	9,586	11,278	14,634	25,811
Other income				47,357
Net loss	$ (660,168)	$ (803,826)	$ (1,185,533)	$ (981,513)
Basic net loss per common share	$ (0.02)	$ (0.02)	$ (0.03)	$ (0.03)
Diluted net loss per common share	$ (0.02)	$ (0.02)	$ (0.03)	$ (0.03)
Weighted average number of common shares outstanding - Basic	34,867,786	33,648,221	34,513,740	33,648,221
Weighted average number of common shares outstanding - Diluted	34,867,786	33,648,221	34,513,740	33,648,221

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (1,185,533)	$ (981,513)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	631	6,166
Share-based compensation		175,204
Credit loss expense	150,000	124,253
ROU asset amortization	87,363	86,925
Change in assets and liabilities:
Royalty receivables	50,711	(2,413)
Prepaid expenses and other assets	(88,761)	(67,791)
Accounts payable and accrued expenses	37,023	(68,297)
Deferred revenue	69,068	71,563
Operating lease liability	(71,740)	(63,798)
Net cash used in operating activities	(951,238)	(719,701)
Cash flows from investing activities:
Purchases of fixed assets	(105)	(209)
Net cash used in investing activities	(105)	(209)
Cash flows from financing activities:
Net proceeds from sale of common stock and warrants	1,375,000
Net cash provided by financing activities	1,375,000
Net increase (decrease) in cash and cash equivalents	423,657	(719,910)
Cash and cash equivalents at beginning of period	664,299	1,994,186
Cash and cash equivalents at end of period	$ 1,087,956	$ 1,274,276

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 1,087,956	$ 664,299
Royalties receivable, net of reserves of $1,534,850 and $1,384,850, respectively	207,955	408,666
Prepaid expenses and other current assets	159,730	70,969
Total current assets	1,455,641	1,143,934
Fixed assets, net	2,867	3,393
Operating lease ROU assets	960,989	1,048,352
Deposits and other assets	56,066	56,066
Total assets	2,475,563	2,251,745
Current liabilities:
Current portion of operating lease liability	152,960	146,043
Accounts payable	135,206	132,666
Deferred revenue	69,068
Accrued expenses	53,651	19,168
Total current liabilities	410,885	297,877
Operating lease liability, net of current portion	941,585	1,020,242
Total liabilities	1,352,470	1,318,119
Shareholders’ equity:
Common stock, par value $0.0001 per share; authorized 100,000,000 shares, issued and outstanding 34,867,786 in 2026 and 33,648,221 in 2025	3,487	3,365
Additional paid-in capital	129,926,946	128,552,068
Accumulated deficit	(128,807,340)	(127,621,807)
Total shareholders’ equity	1,123,093	933,626
Total liabilities and shareholders’ equity	$ 2,475,563	$ 2,251,745