<SEC-DOCUMENT>0001206774-12-000147.txt : 20120119
<SEC-HEADER>0001206774-12-000147.hdr.sgml : 20120119
<ACCEPTANCE-DATETIME>20120119165853
ACCESSION NUMBER:		0001206774-12-000147
CONFORMED SUBMISSION TYPE:	S-3
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20120119
DATE AS OF CHANGE:		20120119

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			RESEARCH FRONTIERS INC
		CENTRAL INDEX KEY:			0000793524
		STANDARD INDUSTRIAL CLASSIFICATION:	PATENT OWNERS & LESSORS [6794]
		IRS NUMBER:				112103466
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-179099
		FILM NUMBER:		12535211

	BUSINESS ADDRESS:	
		STREET 1:		240 CROSSWAYS PARK DR
		CITY:			WOODBURY
		STATE:			NY
		ZIP:			11797-2033
		BUSINESS PHONE:		5163641902

	MAIL ADDRESS:	
		STREET 1:		240 CROSSWAYS PARK DR
		CITY:			WOODBURY
		STATE:			NY
		ZIP:			11797-2033
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-3
<SEQUENCE>1
<FILENAME>rfi_s3.htm
<DESCRIPTION>REGISTRATION STATEMENT FOR SPECIFIED TRANSACTIONS BY CERTAIN ISSUERS
<TEXT>

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<DIV align=left><FONT face="Times New Roman" size=2>As filed with the Securities and
Exchange Commission on January 19, 2012 </FONT></DIV>
<DIV align=right><FONT face="Times New Roman" size=2>Registration No. 333-</FONT></DIV>
<HR align=center width="100%" color=black SIZE=1>

<P align=center><FONT face="Times New Roman" size=2>SECURITIES AND EXCHANGE COMMISSION
<BR>WASHINGTON, D.C. 20549
<BR>_________________________________________</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>FORM S-3 <BR>REGISTRATION
STATEMENT<BR></FONT><FONT face="Times New Roman" size=2>UNDER<BR></FONT><FONT face="Times New Roman" size=2>THE SECURITIES ACT OF 1933 <BR>____________________<BR><BR>RESEARCH
FRONTIERS INCORPORATED<BR></FONT><FONT face="Times New Roman" size=2>(Exact name of
registrant as specified in its charter)</FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="49%"><FONT face="Times New Roman" size=2>Delaware</FONT></TD>
    <TD noWrap style="text-align: center" width="50%"><FONT face="Times New Roman" size=2>11-2103466</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="49%"><FONT face="Times New Roman" size=2>(State or other jurisdiction
      of</FONT></TD>
    <TD noWrap style="text-align: center" width="50%"><FONT face="Times New Roman" size=2>(I.R.S. Employer</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="49%"><FONT face="Times New Roman" size=2>incorporation or
      organization)</FONT></TD>
    <TD noWrap style="text-align: center" width="50%"><FONT face="Times New Roman" size=2>Identification
  Number)</FONT></TD></TR></TABLE><BR>
<P align=center><FONT face="Times New Roman" size=2>_________________________________________<BR>
<BR>240 Crossways Park Drive
<BR>Woodbury, New York 11797 <BR>(516) 364-1902<BR></FONT><FONT face="Times New Roman" size=2>(Address, including zip code, and telephone number, including <BR>area
code, of registrant's principal executive offices)
<BR>_________________________________________</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>Joseph M. Harary, Esq. <BR>President and
Chief Executive Officer <BR>Research Frontiers Incorporated <BR>240 Crossways
Park Drive <BR>Woodbury, New York 11797 <BR>(516) 364-1902<BR></FONT><FONT face="Times New Roman" size=2>(Name, address, including zip code, and telephone number,
<BR>including area code, of agent for service)
<BR>_________________________________________</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>Copies of all communications, including
all communications sent to <BR>the agent for service, should be sent
to:</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>Seth Van Voorhees<BR></FONT><FONT face="Times New Roman" size=2>Vice President and Chief Financial Officer <BR>Research
Frontiers Incorporated <BR>240 Crossways Park Drive <BR>Woodbury, New York 11797
<BR>(516) 364-1902 <BR>_________________________________________</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>Approximate date
of commencement of proposed sale to the public: From time to time after the
effective date of this Registration Statement.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If the only securities being registered on this Form are being offered
pursuant to dividend or interest reinvestment plans, please check the following
box: [&nbsp;]</FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If any of the securities being registered on this Form are to be offered
on a delayed or continuous basis pursuant to Rule 415 under the Securities Act
of 1933, other than securities offered only in connection with dividend or
interest reinvestment plans, check the following box: [x]</FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If this Form is filed to register additional securities for an offering
pursuant to Rule 462(b) under the Securities Act, please check the following box
and list the Securities Act registration statement number of the earlier
effective registration statement for the same offering. [ ]</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>If this Form is a
post-effective amendment filed pursuant to Rule 462(c) under the Securities Act,
check the following box and list the Securities Act registration statement
number of the earlier effective registration statement for the same offering. [
]</FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If this Form is a registration statement pursuant to General Instruction
I.D. or a post-effective amendment thereto that shall become effective upon
filing with the Commission pursuant to Rule 462(e) under the Securities Act,
check the following box. [ ]</FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If this Form is a post-effective amendment to a registration statement
filed pursuant to General Instruction I.D. filed to register additional
securities or additional classes of securities pursuant to Rule 413(b) under the
Securities Act, check the following box. [ ]</FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer, or a smaller reporting
company. See the definitions of "large accelerated filer," "accelerated filer"
and "smaller reporting company" in Rule 12b-2 of the Exchange Act. (Check
one):</FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="4%"><FONT face="Times New Roman" size=2>Large accelerated filer</FONT></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD noWrap align=left width="44%"><FONT face="Times New Roman" size=2>[&nbsp;&nbsp; &nbsp; ]</FONT></TD>
    <TD noWrap align=left width="9%"><FONT face="Times New Roman" size=2>Accelerated filer </FONT></TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap align=left width="40%"><FONT size=2 face="Times New Roman">[ X
      ]</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="4%"><FONT face="Times New Roman" size=2>Non-accelerated filer</FONT></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2></FONT></TD>
    <TD noWrap align=left width="44%"><FONT face="Times New Roman" size=2>[&nbsp;&nbsp; &nbsp; ]</FONT></TD>
    <TD noWrap align=left width="9%"><FONT face="Times New Roman" size=2>Smaller reporting company</FONT></TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=left width="40%"><FONT size=2 face="Times New Roman">[&nbsp;
      &nbsp;&nbsp; ]</FONT></TD></TR></TABLE><BR>
<P align=center><FONT face="Times New Roman" size=2>CALCULATION OF REGISTRATION
FEE</FONT></P>
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  <TR>
    <TD noWrap align=left width="82%"><FONT face="Times New Roman" size=2>Title of each class</FONT></TD>
    <TD noWrap align=left width="3%"></TD>
    <TD noWrap align=left width="3%"><FONT face="Times New Roman" size=2>Amount to</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#ffffff></TD>
    <TD noWrap align=left width="3%"><FONT face="Times New Roman" size=2>Proposed maximum </FONT></TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=left width="3%"><FONT face="Times New Roman" size=2>Proposed maximum </FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="2%"><FONT face="Times New Roman" size=2>Amount of</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="82%"><FONT face="Times New Roman" size=2>of
      securities to be registered</FONT></TD>
    <TD noWrap align=left width="3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap align=left width="3%"><FONT face="Times New Roman" size=2>be
      registered(2)</FONT></TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap align=left width="3%"><FONT face="Times New Roman" size=2>offering price&nbsp; per Share</FONT></TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap align=left width="3%"><FONT face="Times New Roman" size=2>aggregate offering price</FONT></TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap align=left width="2%"><FONT face="Times New Roman" size=2>registration fee</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD STYLE="text-align: left; width: 82%; background-color: #c0c0c0"><FONT face="Times New Roman" size=2>Common Stock, $0.0001
    <BR>
par value per        share</FONT></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>3,000,000 shares</FONT></TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=center width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>$ 3.76(1)</FONT></TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=center width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>$ 11,280,000.00(1)</FONT></TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=center width="2%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>$ 1,292.69</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD STYLE="text-align: left; width: 82%"><FONT face="Times New Roman" size=2>Warrants to Purchase <BR>
Common Stock(3)</FONT></TD>
    <TD noWrap align=left width="3%">&nbsp;</TD>
    <TD noWrap align=center width="3%"><FONT face="Times New Roman" size=2></FONT></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="3%"><FONT face="Times New Roman" size=2>(4)</FONT></TD>
    <TD noWrap align=center width="1%"><FONT face="Times New Roman" size=2></FONT></TD>
    <TD noWrap align=center width="3%"><FONT face="Times New Roman" size=2>(4)</FONT></TD>
    <TD noWrap align=center width="1%"><FONT face="Times New Roman" size=2></FONT></TD>
    <TD noWrap align=center width="2%"><FONT face="Times New Roman" size=2>(4)</FONT></TD></TR></TABLE><BR>
<P align=left><FONT face="Times New Roman" size=2>(1) The price is estimated in accordance
with Rule 457(c) under the Securities Act of 1933, as amended, solely for the
purpose of calculating the registration fee and is $3.76 which was calculated
based upon the average of the high and low trading price per share of common
stock of Research Frontiers Incorporated on the Nasdaq Capital Market on January
18, 2012, which was within five business days of the original filing of this
Registration Statement.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>(2) Pursuant to Rule 416 under the
Securities Act, this Registration Statement also relates to an indeterminate
number of additional shares of our common stock which may become issuable by
reason of any stock split, stock dividend, recapitalization, or similar
transaction that is effected without the receipt of consideration and results in
an increase in the number of shares of our common stock that are
outstanding.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>(3) An indeterminate number of warrants to
purchase the shares of Common Stock registered hereunder.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>(4) Pursuant to Rule 457(g), no separate
registration fee is required.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>The registrant
hereby amends this registration statement on such date or dates as may be
necessary to delay its effective date until the registrant shall file a further
amendment which specifically states that this registration statement shall
thereafter become effective in accordance with Section 8(a) of the Securities
Act of 1933 or until the registration statement shall become effective on such
date as the Commission, acting pursuant to Section 8(a), may
determine.</FONT></P>
<HR align=center width="100%" color=black SIZE=1>
<BR>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2>This information in this prospectus is not
complete and may be changed. We may not sell these securities until the
registration statement filed with the Securities and Exchange Commission is
effective. This prospectus is not an offer to sell these securities and it is
not soliciting an offer to buy these securities in any state where the offer or
sale is not permitted.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>PROSPECTUS</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>SUBJECT TO COMPLETION, DATED JANUARY 19,
2012</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>RESEARCH FRONTIERS INCORPORATED
</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>3,000,000 Shares </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>Common
Stock<BR>___________________</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Research Frontiers Incorporated may from
time to time issue up to 3,000,000 shares of common stock, and/or warrants to
purchase such common stock. A general description of the known material terms of
the securities we are offering is included herein. We will specify in an
accompanying prospectus supplement any specific material terms of the securities
offered which are unknown as of the date of this prospectus. We may sell these
securities to or through underwriters and also to other purchasers or through
agents. We will set forth the names of any underwriters or agents in the
accompanying prospectus supplement.</FONT></P>
<DIV align=left>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>Our common
stock is listed on the Nasdaq Capital Market under the symbol "REFR." The last
reported sale price of our common stock on the Nasdaq Capital Market on January
18, 2012 was $3.73.<BR></FONT>
<DIV align=center><FONT face="Times New Roman" size=2>___________________<BR>&nbsp;</FONT></DIV>
<DIV align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Investing in our common stock involves a high degree of risk. See 'Risk
Factors' beginning on page 3.<BR></FONT></DIV>
<DIV align=center><FONT face="Times New Roman" size=2>___________________</FONT></DIV>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Neither the Securities and Exchange Commission nor any state securities
commission has approved or disapproved of these securities or determined if this
prospectus is truthful or complete. Any representation to the contrary is a
criminal offense.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>This prospectus may not be used to
consummate a sale of securities unless it is accompanied by a prospectus
supplement.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>The date of this prospectus
is&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2012</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>SUMMARY</FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>You should read the entire prospectus, including the section entitled
'Risk Factors,' carefully before making an investment decision.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>THE COMPANY</FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Research Frontiers Incorporated ("Research Frontiers" or the "Company")
develops and licenses its suspended particle technology for controlling the
amount of light passing through a device. Such suspended particle devices are
often referred to as "SPDs," "light valves," or "SPD-Smart "
products.</FONT></P>
<HR align=center width="100%" noShade SIZE=2>
</DIV>
<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>SPDs use
microscopic light-absorbing particles that are either in a liquid suspension or
a film. The microscopic particles align when an electrical voltage is applied.
This permits light to pass through the device, and allows the amount of light to
be controlled. Our offices are located at: 240 Crossways Park Drive, Woodbury,
NY 11797 (telephone: 516-364-1902).</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>RISK FACTORS</FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In addition to the other information in this prospectus, you should
carefully consider the following factors in evaluating us and our business
before purchasing the shares of common stock offered hereby. This prospectus
contains, in addition to historical information, forward-looking statements that
involve risks and uncertainties, some of which are beyond our control. Should
one or more of these risks and uncertainties materialize or should underlying
assumptions prove incorrect, our actual results could differ
materially. Factors that could cause or contribute to
such differences include, but are not limited to, those discussed below, as well
as those discussed elsewhere in this prospectus, including the documents
incorporated by reference.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>There are risks associated with investing
in companies such as ours who are engaged in research and development. Because
of these risks, you should only invest if you are able to bear the risk of
losing your entire investment. Before investing, in addition to risks which
could apply to any issuer or offering, you should also consider the business we
are in and the following:</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Source and Need for Capital.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>As of September 30, 2011, we had
approximately $4.7 million in cash, cash equivalents and bank certificates of
deposits. As we take steps in the commercialization and marketing of our
technology, or respond to potential opportunities and/or adverse events, our
working capital needs may change. We anticipate that if our cash and cash
equivalents are insufficient to satisfy our liquidity requirements, we will
require additional funding to sustain our ongoing operations and to continue our
SPD technology research and development activities.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>We have funded most of our activities
through sales of our common stock to investors, and upon the exercise of options
and warrants. Eventual success of the Company and generation of positive cash
flow will be dependent upon the extent of commercialization of products using
the Company's technology by the Company's licensees and payments of continuing
royalties on account thereof. We can give no assurances that we will generate
sufficient revenues in the future (through sales of our common stock, exercise
of options and warrants, royalty fees, or otherwise) to satisfy our liquidity
requirements or sustain future operations, or that additional funding, if
required, will be available when needed or, if available, on favorable
terms.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>History of Operating Losses.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>We have experienced net losses from
operations, and we may continue to incur net losses from operations in the
future. We have incurred substantial costs and expenses in researching and
developing our SPD technology. As of September 30, 2011, we had a cumulative net
loss of $83,584,461 since our inception. Our net loss was $3,874,865 in 2010,
$4,002,761 in 2009 and $2,594,843 in 2008 (which includes non-cash accounting
charge in 2010, 2009 and 2008 of $772,604, $445,913, and $126,408, respectively,
resulting from the expensing of stock options).</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2>We have never declared a cash dividend and
do not intend to declare a cash dividend in the foreseeable future.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>We have never declared or paid cash
dividends on our common stock. Payment of dividends on our common stock is
within the discretion of our Board of Directors and will depend upon our future
earnings, capital requirements, financial condition and other relevant factors.
We do not anticipate declaring or paying any cash dividends on our common stock
in the foreseeable future.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>We do not directly manufacture or market
products using SPD technology and depend upon activities by our licensees and
their customers.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>We depend upon the activities of our
licensees in order to be profitable. We do not directly manufacture or market
products using SPD technology. Although a variety of products have been sold by
our licensees, and because it is up to our licensees to decide when and if they
will introduce products using SPD technology, we cannot predict when and if our
licensees will generate substantial sales of such products. Our SPD technology
is currently licensed to 39 companies. Other companies are also evaluating SPD
technology for use in various products. In the past, some companies have
evaluated our technology without proceeding further. While we expect that our
licensees would be primarily responsible for manufacturing and marketing
SPD-Smart products and components, we are also engaging in market development
activities to support our licensees and build the smart glass industry. We
cannot control whether or not our licensees will develop SPD products. Some of
our licensees appear to be more active than others, some appear to be better
capitalized than others, and some licensees appear to be inactive. There is no
guarantee when or if our licensees will successfully produce any commercial
product using SPD technology in sufficient quantities to make the Company
profitable.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>SPD-Smart products have only recently been
introduced.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Products using SPD technology have only
recently begun to be introduced into the marketplace. Developing products using
new technologies can be risky because problems, expenses and delays frequently
occur, and costs may or may not come down quickly enough for such products using
new technologies to rapidly penetrate mass market applications.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>SPD-Smart products face intense
competition, which could affect our ability to increase our revenues.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>The market for SPD-Smart products is
intensely competitive and we expect competition to increase in the future. We
compete based on the functionality and the quality of our product. Many of our
current and potential competitors have significantly greater financial,
technical, marketing and other resources than we have. In addition, many of our
competitors have well-established relationships with our current and potential
customers and have extensive knowledge of our industry. If our competitors
develop new technologies or new products, improve the functionality or quality
of their current products, or reduce their prices, and if we are unable to
respond to such competitive developments quickly either because our research and
development efforts do not keep pace with our competitors or because of our lack
of financial resources, we may be unable to compete effectively.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Declining production of automobiles,
airplanes, boats and real estate could harm our business.</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2>Our licensees&#146; commercialization efforts
of SPD-Smart products could be negatively impacted if the global production of
automobiles, airplanes, boats and real estate construction declines
significantly. If such commercialization is reduced, our revenues, results of
operations and financial condition could be negatively impacted.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Single source of SPD film.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Our end-product licensees require a source
of SPD film to manufacture finished products. Currently, Hitachi Chemical is the
sole source of commercial quantities of SPD-film. There are several other
companies that are licensed to manufacture SPD-film, but they have not begun
commercial production of this film. Our end-product licensees&#146; ability to sell
SPD products could be negatively impacted if there was a prolonged disruption in
SPD-film availability. Such a disruption could also negatively impact our
revenues, results of operations and financial condition.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>We are dependent on key personnel.
</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Our continued success will depend, to a
significant extent, on the services of our directors, executive management team,
key personnel and certain key scientists. If one or more of these individuals
were to leave the Company, there is no guarantee that we could replace them with
qualified individuals in a timely or economically satisfactory manner or at all.
The loss or unavailability of any or all of these individuals could harm our
ability to execute our business plan, maintain important business relationships
and complete certain product development initiatives, which would have a
material adverse effect on our business, results of operations and financial
conditions.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Dependence on SPD-Smart
technology.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Because SPD technology is the only
technology we work with, our success depends upon the viability of SPD
technology which has yet to be fully proven. We have not fully ascertained the
performance and long-term reliability of our technology, and therefore there is
no guarantee that our technology will successfully be incorporated into all of
the products which we are targeting for use of SPD technology. We expect that
different product applications for SPD technology will have different
performance and reliability specifications. We expect that our licensees will
primarily be responsible for reliability testing, but that we may also continue
to do reliability testing so that we can more effectively focus our research and
development efforts towards constantly improving the performance characteristics
and reliability of products using SPD technology.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Our patents and other protective measures
may not adequately protect our proprietary </FONT><FONT face="Times New Roman" size=2>intellectual property, and we may be infringing on the rights of
others.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Our intellectual property, particularly
our proprietary rights in our SPD technology, is critical to our success. We
have received various patents, and filed other patent </FONT><FONT face="Times New Roman" size=2>applications, for various applications and aspects of our SPD technology.
In addition, we generally enter into confidentiality and invention agreements
with our employees and consultants. Such patents and agreements and various
other measures we take to protect our intellectual property from use by others
may not be effective for various reasons generally applicable to patents and
their granting and enforcement. In addition, the costs associated with enforcing
patents, confidentiality and invention agreements or other intellectual property
rights may be expensive. Our inability to protect our proprietary intellectual
property rights or gain a competitive advantage from such rights could harm our
ability to generate revenues and, as a result, our business and
operations.</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P STYLE="text-align: center"><FONT face="Times New Roman" size=2>AVAILABLE INFORMATION</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Research Frontiers files reports, proxy
statements and other information with the Securities and Exchange Commission.
You may read and copy such reports, proxy statements and other information at
the public reference room maintained by the SEC at 100 F Street, N.E.,
Washington, D.C. 20549 and you can obtain information on the operation of the
Public Reference Room by calling the SEC at 1-800-SEC-0330. The SEC also
maintains an internet web site at http://www.sec.gov that contains reports,
proxy and information statements and other information regarding issuers, such
as Research Frontiers, that file electronically with the SEC. Additional
information about us can also be found at our web site at
http://www.SmartGlass.com.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>The SEC allows us to incorporate by
reference the information we file with them, which means that we can disclose
important information to you by referring you to those documents. The
information incorporated by reference is considered to be part of this
prospectus, and later information that we file with the SEC will automatically
update and supersede this information. We incorporate by reference into this
prospectus our:</FONT></P>
<UL style="FONT-SIZE: 10pt; MARGIN-LEFT: 16px" type=circle>
  <LI><FONT face="Times New Roman" size=2>annual report on Form 10-K for the fiscal year
  ended December 31, 2010, </FONT></LI>
  <LI><FONT face="Times New Roman" size=2>the portions of the proxy statement dated April
  29, 2011 for our annual meeting of stockholders to be held on June 9, 2011
  that have been incorporated by reference into our report on Form 10-K for the
  fiscal year ended December 31, 2010,</FONT> </LI>
  <LI><FONT face="Times New Roman" size=2>quarterly reports on Form 10-Q for the fiscal
  quarters ended March 31, 2011, June 30, 2011 and September 30, 2011. </FONT></LI>
  <LI><FONT face="Times New Roman" size=2>current reports on Form 8-K filed with the SEC on
  4/6/2010, 5/19/2010,6/14/2010, 9/17/2010,9/27/2010,
  12/1/2010,12/14/2010,1/3/2011,1/28/2011,2/7/2011,2/9/2011,
  4/25/2011,6/10/2011,6/27/2011,9/15/2011,10/17/2011, 12/15/2011 and 1/10/2012
  and </FONT></LI>
  <LI><FONT face="Times New Roman" size=2>the description of the capital stock contained in
  the Research Frontiers registration statements on Form 8-A under the
  Securities Exchange Act of 1934 dated July 31, 1995 and February 24,
  2003.</FONT></LI></UL>
<P align=left><FONT face="Times New Roman" size=2>All filings filed by Research Frontiers
with the SEC under Sections 13(a), 13(c), 14, or 15(d) of the Exchange Act
subsequent to the initial filing of this prospectus and prior to the termination
of the offering or sale of all of common stock offered under this prospectus
shall be deemed to be incorporated by reference into this prospectus.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>This prospectus is part of a registration
statement we filed with the SEC. As permitted by the SEC, this prospectus does
not contain all of the information set forth in the registration statement and
the exhibits and schedules thereto. The statements contained in this prospectus
as to the contents of any contract or any other document are not necessarily
complete. In each case you should refer to the copy of such contract or document
filed as an exhibit to the registration statement.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>We will provide each person to whom this
prospectus is delivered, a copy of any information we have incorporated by
reference but have not delivered along with this prospectus. If you would like a
copy of any document incorporated herein by reference, other than exhibits
unless such exhibits are specifically incorporated by reference in any such
document, you can call or write to us at our principal executive
offices:</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2>240 Crossways Park Drive, Woodbury, New
York 11797-2033, </FONT><FONT face="Times New Roman" size=2>Attention: Corporate Secretary
(telephone: (516) 364-1902). We will provide this information without charge to
any person, including a beneficial owner, to whom a copy of this prospectus is
delivered upon written or oral request.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>No dealer, salesperson or other individual
has been authorized to give any information or to make any representation not
contained in or incorporated by reference in this prospectus or in any
supplement to this prospectus. If given or made, you must not rely on such
information or representation as having been authorized by Research Frontiers.
Neither the delivery of this prospectus nor any sale made hereunder will, under
any circumstances, create an implication that there has not been any change in
the affairs of Research Frontiers since the date of this prospectus or that the
information contained herein is correct or complete as of any time after the
date of this prospectus.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>This prospectus and any supplement to this
prospectus do not constitute an offer to sell or a solicitation of an offer to
buy any securities offered hereby to any person, or by anyone, in any
jurisdiction in which such offer or solicitation may not lawfully be
made.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>The information set forth herein and in
all publicly disseminated information about Research Frontiers, includes
"forward-looking statements" within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended, and is subject to the safe harbor created by
that section. Readers are cautioned not to place undue reliance on these
forward-looking statements as they speak only as of the date of this prospectus
and are not guaranteed.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>DIVIDENDS</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Research Frontiers has never paid any cash
dividends and does not expect to pay any cash dividends for the foreseeable
future.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>USE OF PROCEEDS</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Unless we indicate otherwise in the
applicable prospectus supplement, we currently intend to use the net proceeds
from this offering for general corporate purposes, including our internal
research and development programs, general working capital and possible future
acquisitions.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>We have not determined the amounts we plan
to spend on any of the areas listed above or the timing of these expenditures.
As a result, our management will have broad discretion to allocate the net
proceeds from this offering. Pending application of the net proceeds as
described above, we intend to invest the net proceeds of the offering in money
market funds and other interest-bearing investments.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>DESCRIPTION OF SECURITIES</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>We may sell from time to time, in one or
more offerings common stock and/or warrants to purchase common stock.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>DESCRIPTION OF COMMON STOCK</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Research Frontiers can issue 100,000,000
shares of common stock, $0.0001 par value per share. 18,907,555 shares were
outstanding as of the date of this prospectus. Holders of common stock are
entitled to one vote per share on matters submitted to shareholders for their
approval, to dividends if declared by Research Frontiers, and to share in any
distribution of Research Frontiers' assets. All outstanding shares of common
stock are fully paid for and non-assessable. Holders of common stock do not have
cumulative voting rights or preemptive rights. Therefore, a minority stockholder
may be less able to gain representation on Research Frontiers' board of
directors.</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2>Listing</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Our common stock is listed on the Nasdaq
Capital Market under the symbol "REFR".</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Transfer Agent and Registrar</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Continental Stock Transfer and Trust
Company is the transfer agent and registrar for our common stock.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>DESCRIPTION OF WARRANTS</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>The following description sets forth
certain general terms and provisions of the warrants to which any prospectus
supplement may relate. The particular terms of the warrants offered, the extent,
if any, to which the general terms set forth below apply to the warrants
offered, and any modifications or additions to the general terms as they relate
to the warrants offered will be described in a prospectus supplement.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>General</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>We may issue warrants for the purchase of
common stock from time to time, and we may issue warrants independently or
together with common stock, and the warrants may be attached to or separate from
these securities.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>We will describe in the applicable
prospectus supplement the terms of the series of warrants, including:</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>-the offering price and aggregate number
of warrants offered;</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>-the number of shares of common stock
purchasable upon the exercise of one warrant and the price at which these shares
may be purchased upon such exercise;</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>-the dates on which the right to exercise
the warrants will commence and expire;</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>-the effect of any merger, consolidation,
sale or other disposition of our business on the warrant agreement and the
warrants;</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>-the terms of any rights to redeem or call
the warrants;</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>-any provisions for changes to or
adjustments in the exercise price or number of securities issuable upon exercise
of the warrants;</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>-to the extent material, federal income tax
consequences of holding or exercising the warrants;</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>-any other specific terms, preferences,
rights or limitations of or restrictions on the warrants.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Before exercising their warrants, holders
of warrants will not have any of the rights of holders of common stock,
including the right to receive dividends, if any, or, payments upon our
liquidation, dissolution or winding up or to exercise voting rights, if
any.</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2>Exercise of Warrants</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Each warrant will entitle the holder to purchase the securities
that we specify in the applicable prospectus supplement at the exercise price
that we describe in the applicable prospectus supplement. Unless we otherwise
specify in the applicable prospectus supplement, holders of the warrants may
exercise the warrants at any time up to 6:00 P.M. Woodbury, New York time on the
expiration date that we set forth in the applicable prospectus supplement. After
the close of business on the expiration date, unexercised warrants will become
void.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Holders of the warrants may exercise the
warrants by delivering the warrant certificate representing the warrants to be
exercised together with specified information, and paying the required amount to
the Company in immediately available funds. Upon receipt of the required payment
and the warrant certificate properly completed and duly executed, we will issue
and deliver the number of shares of common stock purchasable upon such exercise.
If fewer than all of the warrants represented by the warrant certificate are
exercised, then we will issue a new warrant certificate for the remaining amount
of warrants. Unless we indicate otherwise in the applicable prospectus
supplement, holders of the warrants may surrender securities as all or part of
the exercise price for warrants.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>PLAN OF DISTRIBUTION</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>We may sell the securities being offered
hereby in one or more of the following ways from time to time:</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>- through dealers or agents to the public
or to investors; </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>- to underwriters for resale to the public
or to investors; </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>- directly to investors; or</FONT></P>

<P align=left><FONT face="Times New Roman" size=2>- through a
combination of such methods.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>We will set forth in a prospectus
supplement the terms of the offering of securities, including:</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>- the name or names of any agents, dealers
or underwriters;</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>- the purchase price of the securities
being offered and the proceeds we will receive from the sale;</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>- any over-allotment options under which
underwriters may purchase additional securities from us;</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>- any agency fees or underwriting
discounts and other items constituting agents' or underwriters'
compensation;</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>- any initial public offering
price;</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>- any discounts or concessions allowed or
reallowed or paid to dealers; and</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>- any securities exchanges on which the
securities may be listed if it is other than the Nasdaq Capital
Market.</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2>Underwriters, dealers and agents that
participate in the distribution of the securities may be deemed to be
underwriters as defined in the Securities Act and any discounts or commissions
they receive from us and any profit on their resale of the securities may be
treated as underwriting discounts and commissions under the Securities Act. We
will identify in the applicable prospectus supplement any underwriters, dealers
or agents and will describe their compensation. We may have agreements with the
underwriters, dealers and agents to indemnify them against specified civil
liabilities, including liabilities under the Securities Act. Underwriters,
dealers and agents may engage in transactions with or perform services for us or
our subsidiaries in the ordinary course of their businesses. Certain persons
that participate in the distribution of the securities may engage in
transactions that stabilize, maintain or otherwise affect the price of the
securities, including over-allotment, stabilizing and short-covering
transactions in such securities, and the imposition of penalty bids, in
connection with an offering. Certain persons may also engage in passive market
making transactions as permitted by Rule 103 of Regulation M. Passive market
makers must comply with applicable volume and price limitations and must be
identified as passive market makers. In general, a passive market maker must
display its bid at a price not in excess of the highest independent bid for such
security; if all independent bids are lowered below the passive market maker's
bid, however, the passive market maker's bid must then be lowered when certain
purchase limits are exceeded.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>EXPERTS</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>The financial statements and schedule of
Research Frontiers as of December 31, 2010 and 2009, and for each of the three
years in the period ended December 31, 2010, and management's assessment of the
effectiveness over internal controls as of December 31, 2010, incorporated by
reference into this prospectus have been so incorporated in reliance upon the
reports of BDO USA, LLP, an independent registered public accounting firm,
incorporated herein by reference, given on the authority of said firm as experts
in accounting and auditing.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>LEGAL MATTERS</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>The legality of the securities offered
hereby has been passed upon by the law firm of Duane Morris LLP. As of the
January 19, 2012, Victor F. Keen, a Director of the Company and Of Counsel to
Duane Morris LLP owns 293,639 shares of the Company's Common Stock directly,
48,160 shares of Common Stock in his IRA, and holds options and warrants to
purchase 67,500 shares of the Company's Common Stock.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>PART II</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>INFORMATION NOT REQUIRED IN THE
PROSPECTUS</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Item 14. Other Expenses of Issuance and
Distribution.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Estimated expenses relating to the
distribution of the Common Stock registered herein are set forth below. Such
expenses will be paid by Research Frontiers.</FONT></P>
<DIV align=center>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="90%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="96%" bgColor=#c0c0c0 colSpan=2><FONT face="Times New Roman" size=2>Registration Fee under the Securities Act of</FONT> <FONT face="Times New Roman" size=2>1933</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>1,292.69</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="95%"><FONT face="Times New Roman" size=2>Accounting fees and expenses</FONT></TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%"><FONT face="Times New Roman" size=2>5,000.00</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="95%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Miscellaneous
      expenses</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>5,000.00</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="95%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      Total</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%"><FONT face="Times New Roman" size=2>11,292.69</FONT></TD></TR></TABLE></DIV><BR>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2>All of the amounts set forth above, except
for the filing fees for the Securities and Exchange Commission, are estimated
and subject to future contingencies.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Item 15. Indemnification of Directors and
Officers.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Article EIGHTH of Research Frontiers'
Certificate of Incorporation provides for the indemnification of Research
Frontiers' officers and directors to the fullest extent permitted by Section 145
of the Delaware General Corporation Law (the "GCL").</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Section 145 of the GCL provides as
follows:</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>145
Indemnification of Officers, Directors, Employees and Agents;
Insurance</FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(a) A corporation shall have power to indemnify any person who was or is
a party or is threatened to be made a party to any threatened, pending or
completed action, suit or proceeding, whether civil, criminal, administrative or
investigative (other than an action by or in the right of the corporation) by
reason of the fact that the person is or was a director, officer, employee or
agent of the corporation, or is or was serving at the request of the corporation
as a director, officer, employee or agent of another corporation, partnership,
joint venture, trust or other enterprise, against expenses (including attorneys'
fees), judgments, fines and amounts paid in settlement actually and reasonably
incurred by the person in connection with such action, suit or proceeding if the
person acted in good faith and in a manner the person reasonably believed to be
in or not opposed to the best interests of the corporation, and, with respect to
any criminal action or proceeding, had no reasonable cause to believe the
person's conduct was unlawful. The termination of any action, suit or proceeding
by judgment, order, settlement, conviction, or upon a plea of nolo contendere or
its equivalent, shall not, of itself, create a presumption that the person did
not act in good faith and in a manner which he reasonably believed to be in or
not opposed to the best interests of the corporation, and, with respect to any
criminal action or proceeding, had reasonable cause to believe that the person's
conduct was unlawful.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(b) A corporation shall have the power to indemnify any person who was or
is a party or is threatened to be made a party to any threatened, pending or
completed action or suit by or in the right of the corporation to procure a
judgment in its favor by reason of the fact that the person is or was a
director, officer, employee or agent of the corporation, or is or was serving at
the request of the corporation as a director, officer, employee or agent of
another corporation, partnership, joint venture, trust, or other enterprise
against expenses (including attorneys' fees) actually and reasonably incurred by
the person in connection with the defense or settlement of such action or suit
if the person acted in good faith and in a manner the person reasonably believed
to be in or not opposed to the best interests of the corporation and except that
no indemnification shall be made in respect of any claim, issue or matter as to
which such person shall have been adjudged to be liable to the corporation
unless and only to the extent that the Court of Chancery or the court in which
such action or suit was brought shall determine upon application that, despite
the adjudication of liability but in view of all the circumstances of the case,
such person is fairly and reasonably entitled to indemnity for such expenses
which the Court of Chancery or such other court shall deem proper.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(c) To the extent that a present or former director or officer of a
corporation has been successful on the merits or otherwise in defense of any
action, suit or proceeding referred to in subsections (a) and (b) of this
section, or in defense of any claim, issue or matter therein, such person shall
be indemnified against expenses (including attorneys' fees) actually and
reasonably incurred by such person in connection therewith.</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>(d) Any
indemnification under subsections (a) and (b) of this section (unless ordered by
a court) shall be made by the corporation only as authorized in the specific
case upon a determination that indemnification of the present or former
director, officer, employee or agent is proper in the circumstances because the
person has met the applicable standard of conduct set forth in subsections (a)
and (b) of this section. Such determination shall be made with respect to a
person who is a director or officer at the time of such determination, (1) by a
majority vote of the directors who are not parties to such action, suit or
proceeding, or (2) by a committee of such directors designated by a majority
vote of such directors, even though less than a quorum, or (3) if there are no
such directors, or if such directors so direct, by independent legal counsel in
a written opinion, or (4) by the stockholders.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(e) Expenses (including attorneys' fees) incurred by an officer or
director in defending any civil, criminal, administrative or investigative
action, suit or proceeding may be paid by the corporation in advance of the
final disposition of such action, suit or proceeding upon receipt of an
undertaking by or on behalf of such director or officer to repay such amount if
it shall ultimately be determined that such person is not entitled to be
indemnified by the corporation as authorized in this section. Such expenses
(including attorneys' fees) incurred by former directors and officers or other
employees and agents may be so paid upon such terms and conditions, if any, as
the corporation deems appropriate.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(f) The indemnification and advancement of expenses provided by, or
granted pursuant to, the other subsections of this section shall not be deemed
exclusive of any other rights to which those seeking indemnification or
advancement of expenses may be entitled under any bylaw, agreement, vote of
stockholders or disinterested directors or otherwise, both as to action in such
person's official capacity and as to action in another capacity while holding
such office.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(g) A corporation shall have power to purchase and maintain insurance on
behalf of any person who is or was a director, officer, employee or agent of the
corporation, or is or was serving at the request of the corporation as a
director, officer, employee or agent of another corporation, partnership, joint
venture, trust or other enterprise against any liability asserted against such
person and incurred by such person in any such capacity, or arising out of such
person's status as such, whether or not the corporation would have the power to
indemnify such person against such liability under this section.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(h) For purposes of this section, references to "the corporation" shall
include, in addition to the resulting corporation, any constituent corporation
(including any constituent of a constituent) absorbed in a consolidation or
merger which, if its separate existence had continued, would have had power and
authority to indemnify its directors, officers, and employees or agents, so that
any person who is or was a director, officer, employee or agent of such
constituent corporation, or is or was serving at the request of such constituent
corporation as a director, officer, employee or agent of another corporation,
partnership, joint venture, trust or other enterprise, shall stand in the same
position under this section with respect to the resulting or surviving
corporation as such person would have with respect to such constituent
corporation if its separate existence had continued.</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(i) For purposes of this section, references to "other enterprises"
shall include employee benefit plans; references to "fines" shall include
any excise taxes assessed on a person with respect to any employee benefit plan;
and references to "serving at the request of the corporation" shall include any
service as a director, officer, employee or agent of the corporation which
imposes duties on, or involves services by, such director, officer, employee, or
agent with respect to an employee benefit plan, its participants or
beneficiaries; and a person who acted in good faith and in a manner such person
reasonably believed to be in the interest of the participants and beneficiaries
of an employee benefit plan shall be deemed to have acted in a manner "not
opposed to the best interests of the corporation" as referred to in this
section.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>(j) The
indemnification and advancement of expenses provided by, or granted pursuant to,
this section shall, unless otherwise provided when authorized or ratified,
continue as to a person who has ceased to be a director, officer, employee or
agent and shall inure to the benefit of the heirs, executors and administrators
of such a person.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(k) The Court of Chancery is hereby vested with exclusive jurisdiction to
hear and determine all actions for advancement of expenses or indemnification
brought under this section or under any bylaw, agreement, vote of stockholders
or disinterested directors, or otherwise. The Court of Chancery may summarily
determine a corporation' obligation to advance expenses (including attorneys'
fees).</FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Article NINTH of Research Frontiers' Certificate of Incorporation
provides for the elimination of any personal liability for monetary damages of
directors to the Corporation or its stockholders for breach of fiduciary duty,
for negligence or for taking or omitting to take any action to the fullest
extent permitted by Section 102(b) (7) of the GCL.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Section 102(b) (7) of the GCL provides as follows:</FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(b) In addition to the matters required to be set forth in the
certificate of incorporation by subsection (a) of this section, the certificate
of incorporation may also contain any or all of the following
matters:</FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(7) A provision eliminating or limiting the personal liability of a
director to the corporation or its stockholders for monetary damages for breach
of fiduciary duty as a director, provided that such provision shall not
eliminate or limit the liability of a director (i) for any breach of the
director's duty of loyalty to the corporation or its stockholders, (ii) for acts
or omissions not in good faith or which involve intentional misconduct or a
knowing violation of law, (iii) under section 174 of this Title, or (iv) for any
transaction from which the director derived an improper personal benefit. No
such provision shall eliminate or limit the liability of a director for any act
or omission occurring prior to the date when such provision becomes effective.
All references in this paragraph to a director shall also be deemed to refer (x)
to a member of the governing body of a corporation which is not authorized to
issue capital stock, and (y) to such other person or persons, if any, who,
pursuant to a provision of the certificate of incorporation in accordance with
section 141(a) of this title, exercise or perform any of the powers or duties
otherwise conferred or imposed upon the board of directors by this
title.</FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"><FONT face="Times New Roman" size=2>Item 16. </FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="96%"><FONT face="Times New Roman" size=2>Exhibits.</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>5.1</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap align=left width="96%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Opinion re legality of the securities
      being registered. (Filed herewith)</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"><FONT face="Times New Roman" size=2>23.1</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="96%"><FONT face="Times New Roman" size=2>Consent of BDO USA, LLP (Filed
  herewith).</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>23.3</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="96%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Consent of Legal Counsel (included in
      Exhibit 5.1)</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"><FONT face="Times New Roman" size=2>24.</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2></FONT></TD>
    <TD noWrap align=left width="96%"><FONT face="Times New Roman" size=2>Power of Attorney. (Included on signature
      page)</FONT></TD></TR></TABLE><BR>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2>Item 17. Undertakings.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>The undersigned
registrant hereby undertakes:</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>1) To file, during any period in which
offers or sales are being made, a post-effective amendment to this registration
statement:</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>(a) To include any prospectus required by
section 10(a)(3) of the Securities Act of 1933;</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>(b) To reflect in the prospectus any facts
or events arising after the effective date of the registration statement (or the
most recent post-effective amendment thereof) which, individually or in the
aggregate, represent a fundamental change in the information set forth in the
registration statement. Notwithstanding the foregoing, any increase or decrease
in volume of securities offered (if the total dollar value of securities offered
would not exceed that which was registered) and any deviation from the low or
high end of the estimated maximum offering range may be reflected in the form of
prospectus filed with the Commission pursuant to Rule 424(b) if, in the
aggregate, the changes in volume and price represent no more than 20% change in
the maximum aggregate offering price set forth in the "Calculation of
Registration Fee" table in the effective registration statement.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>(c) To include any material information
with respect to the plan of distribution not previously disclosed in the
registration statement or any material change to such information in the
registration statement;</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Provided, however, the foregoing
paragraphs do not apply if the registration statement is on Form S-3 and the
information required to be included in a post-effective amendment by those
paragraphs is contained in reports filed with or furnished to the Commission by
the registrant pursuant to section 13 or section 15(d) of the Securities
Exchange Act of 1934 that are incorporated by reference in the registration
statement, or is contained in a form of prospectus filed pursuant to Rule 424(b)
that is part of the registration statement.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>(2) That, for the purpose of determining
any liability under the Securities Act of 1933, each such post-effective
amendment shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time
shall be deemed to be the initial bona fide offering thereof.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>(3) To remove from registration by means
of a post-effective amendment any of the securities being registered which
remain unsold at the termination of the offering.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>(4) That, for the purpose of determining
liability under the Securities Act of 1933 to any purchaser:</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>(a) If the registrant is relying on Rule
430B:</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>(i) Each prospectus filed by the
registrant pursuant to Rule 424(b)(3) shall be deemed to be part of the
registration statement as of the date the filed prospectus was deemed part of
and included in the registration statement; and</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2>(ii) Each prospectus required to be filed
pursuant to Rule 424(b)(2), (b)(5), or (b)(7) as part of a registration
statement in reliance on Rule 430B relating to an offering made pursuant to Rule
415(a)(1)(i), (vii), or (x) for the purpose of providing the information
required by section 10(a) of the Securities Act of 1933 shall be deemed to be
part of and included in the registration statement as of the earlier of the date
such form of prospectus is first used after effectiveness or the date of the
first contract of sale of securities in the offering described in the
prospectus. As provided in Rule 430B, for liability purposes of the issuer and
any person that is at that date an underwriter, such date shall be deemed to be
a new effective date of the registration statement relating to the securities in
the registration statement to which that prospectus relates, and the offering of
such securities at that time shall be deemed to be the initial bona fide
offering thereof. Provided, however, that no statement made in a registration
statement or prospectus that is part of the registration statement or made in a
document incorporated or deemed incorporated by reference into the registration
statement or prospectus that is part of the registration statement will, as to a
purchaser with a time of contract of sale prior to such effective date,
supersede or modify any statement that was made in the registration statement or
prospectus that was part of the registration statement or made in any such
document immediately prior to such effective date; or</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>(b) If the registrant is subject to Rule
430C, each prospectus filed pursuant to Rule 424(b) as part of a registration
statement relating to an offering, other than registration statements relying on
Rule 430B or other than prospectuses filed in reliance on Rule 430A, shall be
deemed to be part of and included in the registration statement as of the date
it is first used after effectiveness. Provided, however, that no statement made
in a registration statement or prospectus that is part of the registration
statement or made in a document incorporated or deemed incorporated by reference
into the registration statement or prospectus that is part of the registration
statement will, as to a purchaser with a time of contract of sale prior to such
first use, supersede or modify any statement that was made in the registration
statement or prospectus that was part of the registration statement or made in
any such document immediately prior to such date of first use. </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>(5) That, for the purpose of determining
liability of the registrant under the Securities Act of 1933 to any purchaser in
the initial distribution of the securities: The undersigned registrant
undertakes that in a primary offering of securities of the undersigned
registrant pursuant to this registration statement, regardless of the
underwriting method used to sell the securities to the purchaser, if the
securities are offered or sold to such purchaser by means of any of the
following communications, the undersigned registrant will be a seller to the
purchaser and will be considered to offer or sell such securities to such
purchaser:</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2>(a) Any preliminary prospectus or
prospectus of the undersigned registrant relating to the offering required to be
filed pursuant to Rule 424;</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>(b) Any free writing prospectus relating
to the offering prepared by or on behalf of the undersigned registrant or used
or referred to by the undersigned registrant;</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>(c) The portion of any other free writing
prospectus relating to the offering containing material information about the
undersigned registrant or its securities provided by or on behalf of the
undersigned registrant; and</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>(d) Any other communication that is an
offer in the offering made by the undersigned registrant to the
purchaser.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>The undersigned registrant hereby
undertakes that, for purposes of determining any liability under the Securities
Act of 1933, each filing of the registrant's annual report pursuant to section
13(a) or section 15(d) of the Securities Exchange Act of 1934 (and, where
applicable, each filing of any employee benefit plan's annual report pursuant to
section 15(d) of the Securities Act of 1934) that is incorporated by reference
in the registration statement shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering
thereof.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Insofar as indemnification for liabilities
arising under the Securities Act of 1933 (the "Act") may be permitted to
directors, officers and controlling persons of the registrant pursuant to the
Certificate of Incorporation or By-Laws of Research Frontiers, or otherwise, the
registrant has been advised that in the opinion of the Securities and Exchange
Commission, such indemnification is against public policy as expressed in the
Act and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the
registrant of expenses incurred or paid by a director, officer or controlling
person of the registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the registrant will, unless in
the opinion of its counsel the&nbsp;matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the Act and
will be governed by the final adjudication of such issue. </FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P STYLE="text-align: center"><FONT face="Times New Roman" size=2>SIGNATURES</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>Pursuant to the requirements of the
Securities Act of 1933, the registrant certifies that it has reasonable grounds
to believe that it meets all of the requirements for filing on Form S-3 and has
duly caused this registration statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of Woodbury, State of New
York, on January 19, 2012.</FONT></P>
<DIV align=right>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="50%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="99%" colSpan=2><FONT face="Times New Roman" size=2>RESEARCH FRONTIERS
      INCORPORATED</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="97%"><FONT face="Times New Roman" size=2>(Registrant)</FONT></TD></TR>
  <TR>
    <TD width="99%" colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD width="99%" colSpan=2>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"><FONT face="Times New Roman" size=2>By:/s/&nbsp;&nbsp; </FONT></TD>
    <TD noWrap align=left width="97%"><FONT face="Times New Roman" size=2>Joseph M. Harary</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="97%"><FONT face="Times New Roman" size=2>Joseph M. Harary, President and
      CEO</FONT></TD></TR>
  <TR>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="97%"><FONT size=2 face="Times New Roman">(Principal Executive Officer)</FONT></TD></TR>
  <TR>
    <TD width="99%" colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD width="99%" colSpan=2>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"><FONT face="Times New Roman" size=2>By:/s/</FONT></TD>
    <TD noWrap align=left width="97%"><FONT face="Times New Roman" size=2>Seth Van Voorhees</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="97%"><FONT face="Times New Roman" size=2>Seth Van Voorhees, Vice
      President-Business</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="97%"><FONT face="Times New Roman" size=2>Development and CFO</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="97%"><FONT face="Times New Roman" size=2>(Principal Financial and</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="97%"><FONT face="Times New Roman" size=2>Accounting
Officer)</FONT></TD></TR></TABLE></DIV><BR>
<P align=center><FONT face="Times New Roman" size=2>POWER OF ATTORNEY</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>We the
undersigned directors of Research Frontiers Incorporated each hereby severally
constitute and appoint Joseph M. Harary and Seth Van Voorhees, each individually
as his true and lawful attorneys-in-fact and agents, with full power of
substitution and resubstitution, for him and his name, place and stead, and in
any and all capacities, to sign any and all amendments to this Registration
Statement (including post-effective amendments, and to file the same, and any
subsequent Registration Statement for the same offering which may be filed under
Rule 462(b), with all exhibits thereto, and other documents in connection
therewith, with the Securities and Exchange Commission, granting to said
attorneys-in-fact and agents, and each of them, full power and authority to do
and perform such and every act and thing requisite and necessary to be done, as
fully to all intents and purposes as he might or could do in person, hereby
ratifying and confirming all that said attorneys-in-fact and agents, or any of
them, or their or his substitute or substitutes, may lawfully do or cause to be
done by virtue thereof.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Pursuant to the requirements of the Securities Act of 1933, this
registration statement has been signed by the following persons in the
capacities and on the dates indicated.</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap style="text-align: center" width="36%"><FONT face="Times New Roman" size=2>Signature</FONT></TD>
    <TD NOWRAP WIDTH="45%" STYLE="text-align: left"><FONT face="Times New Roman" size=2>Title</FONT></TD>
    <TD noWrap align=left width="17%"><FONT face="Times New Roman" size=2>Date</FONT></TD></TR>
  <TR>
    <TD width="99%" colSpan=4>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>/s/&nbsp; &nbsp;</FONT></TD>
    <TD noWrap align=left width="36%"><FONT size=2 face="Times New Roman">Robert L.
      Saxe</FONT></TD>
    <TD noWrap align=left width="45%"><FONT face="Times New Roman" size=2>Chairman of the Board</FONT></TD>
    <TD noWrap align=left width="17%"><FONT face="Times New Roman" size=2>January </FONT><FONT face="Times New Roman" size=2>19, </FONT><FONT face="Times New Roman" size=2>2012</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="36%"><FONT face="Times New Roman" size=2>Robert L. Saxe</FONT></TD>
    <TD noWrap align=left width="45%"><FONT face="Times New Roman" size=2>and Director</FONT></TD>
    <TD noWrap align=left width="17%"></TD></TR>
  <TR>
    <TD width="99%" colSpan=4>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>/s/</FONT></TD>
    <TD noWrap align=left width="36%"><FONT face="Times New Roman" size=2>Joseph M. Harary</FONT></TD>
    <TD noWrap align=left width="45%"><FONT face="Times New Roman" size=2>Director, President and CEO</FONT></TD>
    <TD noWrap align=left width="17%"><FONT face="Times New Roman" size=2>January </FONT><FONT face="Times New Roman" size=2>19, </FONT><FONT face="Times New Roman" size=2>2012</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="36%"><FONT face="Times New Roman" size=2>Joseph M. Harary</FONT></TD>
    <TD noWrap align=left width="45%"></TD>
    <TD noWrap align=left width="17%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="82%" colSpan=3><FONT face="Times New Roman" size=2>(Principal Executive Officer)</FONT></TD>
    <TD noWrap align=left width="17%"></TD></TR>
  <TR>
    <TD width="99%" colSpan=4>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>/s/</FONT></TD>
    <TD noWrap align=left width="36%"><FONT face="Times New Roman" size=2>John H. Derby</FONT></TD>
    <TD noWrap align=left width="45%"><FONT face="Times New Roman" size=2>Director</FONT></TD>
    <TD noWrap align=left width="17%"><FONT face="Times New Roman" size=2>January </FONT><FONT face="Times New Roman" size=2>19, </FONT><FONT face="Times New Roman" size=2>2012</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="36%"><FONT face="Times New Roman" size=2>John H. Derby</FONT></TD>
    <TD noWrap align=left width="45%"></TD>
    <TD noWrap align=left width="17%"></TD></TR>
  <TR>
    <TD width="99%" colSpan=4>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>/s/</FONT></TD>
    <TD noWrap align=left width="36%"><FONT face="Times New Roman" size=2>Gregory G. Grimes</FONT></TD>
    <TD noWrap align=left width="45%"><FONT face="Times New Roman" size=2>Director</FONT></TD>
    <TD noWrap align=left width="17%"><FONT face="Times New Roman" size=2>January </FONT><FONT face="Times New Roman" size=2>19, </FONT><FONT face="Times New Roman" size=2>2012</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="36%"><FONT face="Times New Roman" size=2>Gregory G. Grimes</FONT></TD>
    <TD noWrap align=left width="45%"></TD>
    <TD noWrap align=left width="17%"></TD></TR>
  <TR>
    <TD width="99%" colSpan=4>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>/s/</FONT></TD>
    <TD noWrap align=left width="36%"><FONT face="Times New Roman" size=2>M. Philip Guthrie</FONT></TD>
    <TD noWrap align=left width="45%"><FONT face="Times New Roman" size=2>Director</FONT></TD>
    <TD noWrap align=left width="17%"><FONT face="Times New Roman" size=2>January </FONT><FONT face="Times New Roman" size=2>19, </FONT><FONT face="Times New Roman" size=2>2012</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="36%"><FONT face="Times New Roman" size=2>M. Philip Guthrie</FONT></TD>
    <TD noWrap align=left width="45%"></TD>
    <TD noWrap align=left width="17%"></TD></TR>
  <TR>
    <TD width="99%" colSpan=4>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>/s/</FONT></TD>
    <TD noWrap align=left width="36%"><FONT face="Times New Roman" size=2>Richard Hermon-Taylor </FONT></TD>
    <TD noWrap align=left width="45%"><FONT size=2 face="Times New Roman">Director</FONT></TD>
    <TD noWrap align=left width="17%"><FONT face="Times New Roman" size=2>January </FONT><FONT face="Times New Roman" size=2>19, </FONT><FONT face="Times New Roman" size=2>2012</FONT></TD></TR>
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    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="36%"><FONT face="Times New Roman" size=2>Richard Hermon-Taylor</FONT></TD>
    <TD noWrap align=left width="45%"></TD>
    <TD noWrap align=left width="17%"></TD></TR>
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    <TD width="99%" colSpan=4>&nbsp;</TD></TR>
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    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>/s/</FONT></TD>
    <TD noWrap align=left width="36%"><FONT face="Times New Roman" size=2>Victor F. Keen</FONT></TD>
    <TD noWrap align=left width="45%"><FONT face="Times New Roman" size=2>Director</FONT></TD>
    <TD noWrap align=left width="17%"><FONT face="Times New Roman" size=2>January </FONT><FONT face="Times New Roman" size=2>19, </FONT><FONT face="Times New Roman" size=2>2012</FONT></TD></TR>
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    <TD noWrap align=left width="36%"><FONT face="Times New Roman" size=2>Victor F. Keen</FONT></TD>
    <TD noWrap align=left width="45%"></TD>
    <TD noWrap align=left width="17%"></TD></TR>
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    <TD width="99%" colSpan=4>&nbsp;</TD></TR>
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    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>/s/</FONT></TD>
    <TD noWrap align=left width="36%"><FONT face="Times New Roman" size=2>Seth Van Voorhees</FONT></TD>
    <TD noWrap align=left width="45%"><FONT face="Times New Roman" size=2>Vice President-Business</FONT></TD>
    <TD noWrap align=left width="17%"><FONT face="Times New Roman" size=2>January </FONT><FONT face="Times New Roman" size=2>19, </FONT><FONT face="Times New Roman" size=2>2012</FONT></TD></TR>
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    <TD noWrap align=left width="36%"><FONT face="Times New Roman" size=2>Seth Van Voorhees</FONT></TD>
    <TD noWrap align=left width="45%"><FONT face="Times New Roman" size=2>Development and CFO</FONT></TD>
    <TD noWrap align=left width="17%"></TD></TR>
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    <TD noWrap align=left width="82%" colSpan=3><FONT face="Times New Roman" size=2>(Principal Financial and Accounting
    Officer)</FONT></TD>
    <TD noWrap align=left width="17%"></TD></TR></TABLE><BR>
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<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>exhibit5-1.htm
<DESCRIPTION>OPINION RE LEGALITY OF THE SECURITIES BEING REGISTERED
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<P align=left><FONT face="Times New Roman" size=2>January 19, 2012</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Research Frontiers Incorporated <BR>240
Crossways Park Drive <BR>Woodbury NY 11797-2033</FONT></P>
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    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>Re:</FONT></TD>
    <TD noWrap align=left width="2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</TD>
    <TD noWrap align=left width="96%"><FONT face="Times New Roman" size=2>Registration Statement on Form S-3
      filed by</FONT></TD></TR>
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    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="96%"><FONT face="Times New Roman" size=2>Research Frontiers
    Incorporated</FONT></TD></TR></TABLE><BR>
<P align=left><FONT face="Times New Roman" size=2>Ladies and Gentlemen:</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>We have acted as counsel to Research
Frontiers Incorporated, a Delaware corporation (the "Company"), in connection
with the authorization of the possible issuance and sale from time to time, on a
delayed basis, by the Company of: (i) shares (the "Shares") of common stock, par
value $0.0001 per share, of the Company (the "Common Stock"), certain of which
may be issuable upon exercise of the Warrants (as hereinafter defined); and (ii)
warrants to purchase shares of Common Stock (the "Warrants"), in each case as
contemplated by the Company's Registration Statement on Form S-3 to which this
opinion is an exhibit (the "Registration Statement"). </FONT><FONT face="Times New Roman" size=2>The Shares and the Warrants are, collectively, referred to in this letter
as the "Securities" and, each, as a "Security." The maximum number of Shares
issuable directly or upon exercise of the Warrants will be 3,000,000. The
Securities may be issued from time to time pursuant to Rule 415 under the
Securities Act of 1933, as amended (the "Securities Act").</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>As counsel to the Company, we have
examined and relied upon originals or copies, authenticated or certified to our
satisfaction, of all such corporate records of the Company, including the
resolutions of the Company's board of directors and other records relating to
the authorization, registration, sale, and issuance of the Shares,
communications or certifications of public officials and such other documents as
we have deemed relevant and necessary as the basis of the opinions expressed
herein. In making such examination, we have assumed the genuineness of all
signatures, the authenticity of all documents tendered to us as originals, and
the conformity to original documents of all documents submitted to us as
certified or photostatic copies.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Based on the foregoing, and subject to the
further limitations, qualifications and assumptions set forth herein, we are of
the opinion that:</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>1. Each authorized but unissued Share,
upon receipt by the </FONT><FONT face="Times New Roman" size=2>Company of such lawful
consideration therefor as the Company's Board of Directors (or a duly authorized
committee thereof) may determine, and assuming no changes in relevant law or
facts ,will be validly issued, fully paid and non-assessable.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>2. The Warrants, upon receipt by the
Company of such lawful consideration therefor as the Company's Board of
Directors (or a duly authorized committee thereof) may determine, and assuming
no changes in relevant law or facts, will constitute valid and binding
obligations of the Company.</FONT></P>
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<P align=left><FONT face="Times New Roman" size=2>In rendering the foregoing opinions, we
have assumed that: (i) the Registration Statement, and any amendments (including
post-effective amendments) thereto, will have become effective (and will remain
effective at the time of issuance of any Securities thereunder); (ii) a
prospectus supplement describing each class and/or series of Securities offered
pursuant to the Registration Statement, to the extent required by applicable law
and relevant rules and regulations of the Securities and Exchange Commission
(the "Commission"), will be timely filed with the Commission; (iii) the
definitive terms of each class and/or series of Securities will have been
established in accordance with (A) the authorizing resolutions duly adopted by
the board of directors (or duly authorized committee thereof) of the Company,
(B) the respective constituent governing documents of the Company and (C)
applicable law; (iv) the Company will issue and deliver the Securities in the
manner contemplated by the Registration Statement; (v) the resolutions
authorizing the Company to issue, offer and sell the Securities will have been
duly adopted by the board of directors or other appropriate governing bodies of
the Company and will be in full force and effect at all times at which the
Securities are offered, issued and sold by the Company; (vi) any securities
issuable upon exercise, conversion, exchange or redemption of any Securities in
accordance with the terms thereof will be duly authorized and, as applicable,
reserved for issuance upon such exercise, conversion, exchange or redemption;
and (vii) all Securities will be issued in compliance with applicable federal
and state securities laws.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>With respect to any Securities consisting
of Warrants, we have further assumed that (i) the warrant agreement relating to
the Warrants (the "Warrant Agreement") to be entered into between the Company
and an entity selected by the Company to act as the warrant agent (the "Warrant
Agent") will have been duly authorized, executed and delivered by the parties
thereto, and (ii) the Warrants will be duly authorized, executed and delivered
by the Company and the Warrant Agent in accordance with the provisions of the
Warrant Agreement.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Our opinions are limited by bankruptcy,
insolvency, reorganization, fraudulent transfer and fraudulent conveyance,
voidable preference, moratorium or other similar laws and related regulations
and judicial doctrines from time to time in effect relating to or affecting
creditors' rights generally, by any covenants of good faith or fair dealing that
may be implied, and by general principles and public policy considerations,
whether such principles and considerations are considered in a proceeding at law
or at equity.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>As to facts material to the opinions
expressed herein, we have relied upon oral or written statements and
representations of officers and other representatives of the Company and others
and have not independently checked or verified the accuracy of such statements
and representations. The opinions expressed herein are limited to the laws of
the State of Delaware, as currently in effect, and we express no opinion as to
the laws of any other jurisdiction. The opinions contained in this letter are
expressed as of the date hereof, and we do not have, nor do we assume, any
obligation to advise of any changes in any facts or applicable laws after the
date hereof that may effect the opinions we express herein.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>We hereby consent to the filing of a copy
of this opinion with the Commission as an exhibit to the Registration Statement
and any amendment thereto and to any and all references to our firm in the
Prospectus which is a part of the Registration Statement. In giving such
consent, we do not thereby admit that we are included in the category of persons
whose consent is required under Section 7 of the Securities Act or the rules and
regulations of the Commission promulgated thereunder.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Very truly yours, </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>DUANE MORRIS LLP </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>/s/ DUANE MORRIS LLP</FONT></P>
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<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>3
<FILENAME>exhibit23-1.htm
<DESCRIPTION>CONSENT OF BDO USA, LLP
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<P align=right><FONT face="Times New Roman" size=2>Exhibit 23.1</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Consent of Independent Registered Public
Accounting Firm <BR>The Board of Directors <BR>Research Frontiers
Incorporated:</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>We hereby consent to the incorporation by
reference in the Prospectus constituting a part of this Registration Statement
of our reports dated March 14, 2011, relating to the consolidated financial
statements, the effectiveness of Research Frontiers Incorporated's internal
control over financial reporting, and schedule of Research Frontiers
Incorporated appearing in the Company's Annual Report on Form 10-K for the year
ended December 31, 2010. We also consent to the reference to us under the
caption "Experts" in the Prospectus.</FONT></P>
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    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>/s/&nbsp;&nbsp; </FONT></TD>
    <TD noWrap align=left width="98%"><FONT face="Times New Roman" size=2>BDO USA, LLP</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="98%"><FONT face="Times New Roman" size=2>BDO USA,
LLP</FONT></TD></TR></TABLE></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2>Melville, New York <BR>January 19,
2012</FONT></P>
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