<SEC-DOCUMENT>0001206774-12-004478.txt : 20121106
<SEC-HEADER>0001206774-12-004478.hdr.sgml : 20121106
<ACCEPTANCE-DATETIME>20121106164545
ACCESSION NUMBER:		0001206774-12-004478
CONFORMED SUBMISSION TYPE:	S-3
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20121106
DATE AS OF CHANGE:		20121106

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:	333-184785
		FILM NUMBER:		121183767

	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_s-3.htm
<DESCRIPTION>REGISTRATION STATEMENT FOR SPECIFIED TRANSACTIONS BY CERTAIN ISSUERS
<TEXT>

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    <TD noWrap style="text-align: center" width="99%"><B><FONT face="Times New Roman" size=2>As filed with the
      Securities and Exchange Commission on November 6, 2012</FONT></B></TD></TR>
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    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="99%"><B><FONT face="Times New Roman" size=2>Registration No. 333-</FONT></B></TD></TR></TABLE><BR>
<P align=center><B><FONT face="Times New Roman" size=5>UNITED STATES<BR></FONT></B><B><FONT face="Times New Roman" size=5>SECURITIES AND EXCHANGE COMMISSION</FONT></B><BR>
<B><FONT face="Times New Roman" size=2>WASHINGTON, D.C.
20549<BR></FONT></B><B><FONT face="Times New Roman" size=2>________________________________________</FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=5>FORM S-3<BR></FONT></B><B><FONT face="Times New Roman" size=5>REGISTRATION STATEMENT<BR></FONT></B><B><I><FONT face="Times New Roman" size=2>UNDER<BR></FONT></I></B><B><I><FONT face="Times New Roman" size=2>THE SECURITIES ACT
OF 1933</FONT></I></B><BR>____________________</P>
<P align=center><B><FONT face="Times New Roman" size=5>RESEARCH FRONTIERS
INCORPORATED<BR></FONT></B><B><FONT face="Times New Roman" size=2>(Exact name of registrant
as specified in its charter) </FONT></B></P>
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    <TD noWrap style="text-align: center" width="49%"><B><FONT face="Times New Roman" size=2>Delaware</FONT></B></TD>
    <TD noWrap style="text-align: center" width="50%"><B><FONT face="Times New Roman" size=2>11-2103466</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="49%"><B><FONT face="Times New Roman" size=2>(State or other
      jurisdiction of</FONT></B></TD>
    <TD noWrap style="text-align: center" width="50%"><B><FONT face="Times New Roman" size=2>(I.R.S.
      Employer</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="49%"><B><FONT face="Times New Roman" size=2>incorporation or
      organization)</FONT></B></TD>
    <TD noWrap style="text-align: center" width="50%"><B><FONT face="Times New Roman" size=2>Identification
      Number)</FONT></B></TD></TR></TABLE>
<DIV align=center><B><FONT face="Times New Roman" size=2>________________________________________<BR><BR>Research Frontiers
Incorporated<BR>240 Crossways Park Drive<BR>Woodbury, New York 11797<BR>(516)
364-1902 </FONT></B></DIV>
<div align=center><B><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></B></div>
<P align=center><B><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 </FONT></B><BR>
<B><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></B></P>
<P align=center><B><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></B></P>
<P align=center><FONT face="Times New Roman" size=2><STRONG>Seth Van Voorhees<BR>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></STRONG></FONT><FONT face="Times New Roman" size=2><STRONG>________________________________________</STRONG></FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><FONT face="Times New Roman"><FONT size=2 face="Times New Roman">If the only securities being
registered on this form are being offered pursuant to dividend or interest
reinvestment plans, please check the following box. <FONT face=Wingdings>o</FONT></FONT></FONT></P>
<P align=left><FONT face="Times New Roman" size=2>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. <FONT face=Wingdings><STRONG>x</STRONG></FONT></FONT></P>
<P align=left><FONT face="Times New Roman" size=2>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 face=Wingdings>o</FONT></FONT></P>
<P align=left><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 face=Wingdings>o</FONT></FONT></P>
<P align=left><FONT face="Times New Roman" size=2>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 face=Wingdings>o</FONT></FONT></P>
<P align=left><FONT face="Times New Roman" size=2>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 face=Wingdings>o</FONT></FONT></P>
<P align=left><FONT face="Times New Roman" size=2>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>
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    <TD noWrap style="text-align: center" width="49%">
      <P align=left><FONT face="Times New Roman" size=2>Large accelerated filer <FONT face=Wingdings>o</FONT></FONT></P></TD>
    <TD noWrap style="text-align: center" width="50%">
      <P align=left><FONT face="Times New Roman" size=2>Accelerated filer <FONT face=Wingdings><STRONG>x</STRONG></FONT></FONT></P></TD></TR>
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    <TD noWrap style="text-align: center" width="49%">&nbsp;</TD>
    <TD noWrap style="text-align: center" width="50%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="49%">
      <P align=left><FONT face="Times New Roman" size=2>Non-accelerated filer <FONT face=Wingdings>o</FONT></FONT></P></TD>
    <TD noWrap style="text-align: center" width="50%">
      <P align=left><FONT face="Times New Roman" size=2>Smaller reporting company <FONT face=Wingdings>o</FONT></FONT></P></TD></TR></TABLE>
<P align=center><B><FONT face="Times New Roman" size=2>CALCULATION OF REGISTRATION FEE
</FONT></B></P>
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    <TD style="TEXT-ALIGN: center" noWrap align=center width="3%"><B><FONT face="Times New Roman" size=2>Title of each class</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="14%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%"><B><FONT face="Times New Roman" size=2>Amount to</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%"><B><FONT face="Times New Roman" size=2>Proposed maximum</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%"><B><FONT face="Times New Roman" size=2>Proposed maximum</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%"><B><FONT face="Times New Roman" size=2>Amount of</FONT></B></TD></TR>
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    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap align=center width="3%"><B><FONT face="Times New Roman" size=2>of
      securities to be registered</FONT></B></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="14%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="20%"><B><FONT face="Times New Roman" size=2>be
    registered</FONT></B></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="20%"><B><FONT face="Times New Roman" size=2>offering price per
      Share</FONT></B></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="20%"><B><FONT face="Times New Roman" size=2>aggregate offering
      price</FONT></B></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="20%"><B><FONT face="Times New Roman" size=2>registration
      fee</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=2>Primary Offering:</FONT></B></TD>
    <TD noWrap align=left width="14%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="20%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="20%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="20%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="20%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%"><FONT face="Times New Roman" size=2>Common Stock, $0.0001</FONT></TD>
    <TD noWrap align=left width="14%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%"></TD></TR>
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    <TD noWrap align=left width="3%"><FONT face="Times New Roman" size=2>par
      value per share</FONT></TD>
    <TD noWrap align=right width="14%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%"><FONT face="Times New Roman" size=2>3,000,000(1)</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%"><FONT face="Times New Roman" size=2>$4.21(2)</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%"><FONT face="Times New Roman" size=2>$12,630,000(2)</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%"><FONT face="Times New Roman" size=2>$1,722.73</FONT></TD></TR>
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    <TD noWrap align=left width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Warrants to Purchase Common</FONT></TD>
    <TD noWrap align=left width="14%" bgColor=#c0c0c0></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%" bgColor=#c0c0c0></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#c0c0c0></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%" bgColor=#c0c0c0></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#c0c0c0></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%" bgColor=#c0c0c0></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#c0c0c0></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Stock</FONT></TD>
    <TD noWrap align=right width="14%" bgColor=#c0c0c0></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>(3)</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#c0c0c0></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>(4)</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#c0c0c0></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>(4)</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>(4)</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%"><B><FONT face="Times New Roman" size=2>Secondary Offering:</FONT></B></TD>
    <TD noWrap align=left width="14%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%">&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Common Stock, $0.0001 par</FONT></TD>
    <TD noWrap align=left width="14%" bgColor=#c0c0c0></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%" bgColor=#c0c0c0></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#c0c0c0></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%" bgColor=#c0c0c0></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>value per share</FONT></TD>
    <TD noWrap align=right width="14%" bgColor=#c0c0c0></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>1,250,000(1)</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>$4.21(2)</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#c0c0c0></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>$5,262,500(2)</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#c0c0c0></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>$717.81</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%"><FONT face="Times New Roman" size=2>Warrants to Purchase</FONT></TD>
    <TD noWrap align=left width="14%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%" bgColor=#ffffff><FONT face="Times New Roman" size=2>Common Stock</FONT></TD>
    <TD noWrap align=right width="14%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%" bgColor=#ffffff><FONT face="Times New Roman" size=2>250,000</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#ffffff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%" bgColor=#ffffff><FONT face="Times New Roman" size=2>(4)</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#ffffff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%" bgColor=#ffffff><FONT face="Times New Roman" size=2>(4)</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%" bgColor=#ffffff><FONT face="Times New Roman" size=2>(4)</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Common Stock, $0.0001 par</FONT></TD>
    <TD noWrap align=left width="14%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#c0c0c0></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%" bgColor=#c0c0c0></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#c0c0c0></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%" bgColor=#c0c0c0></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#c0c0c0></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%" bgColor=#c0c0c0>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>value per share, underlying</FONT></TD>
    <TD noWrap align=left width="14%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%" bgColor=#c0c0c0>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Warrants</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="14%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="20%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>250,000(1)</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="20%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>$4.21(2)</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="20%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>$1,052,500(2)</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="20%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>$143.56</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%"><B><FONT face="Times New Roman" size=2>Total:</FONT></B></TD>
    <TD noWrap align=right width="14%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%"><FONT face="Times New Roman" size=2></FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%"><FONT face="Times New Roman" size=2></FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%"><FONT face="Times New Roman" size=2></FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="20%"><FONT face="Times New Roman" size=2>$2,584.10</FONT></TD></TR></TABLE>

<BR>
<TABLE cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>We are registering 3,000,000
      shares of our common stock that may be offered pursuant to this
      registration statement by us, an additional 1,250,000 shares of our common stock that are held by our selling stockholders named in this registration statement, and 250,000 shares of our
      common stock that represents shares of our common stock issuable upon
      exercise of warrants to purchase shares of common stock that are held by
      the selling stockholders named in this registration statement. 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></TD></TR>
  <TR>
    <TD noWrap></TD>
    <TD width="100%" colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(2)</FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>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 $4.21,
      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 October 31, 2012.</FONT></TD></TR>
  <TR>
    <TD noWrap></TD>
    <TD width="100%" colSpan=2>&nbsp;</TD></TR></TABLE>
<TABLE cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>An indeterminate number of
      warrants to purchase the shares of common stock registered
      hereunder.</FONT></TD></TR>
  <TR>
    <TD noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="100%" colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(4)</FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Pursuant to Rule 457(g), no
      separate registration fee is required.</FONT></TD></TR></TABLE>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Times New Roman" size=2><B>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.</B></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 color=red><B>The information in this prospectus is not complete and
may be changed. These securities may not be sold 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.</B></FONT></P>
<P align=center><B><FONT face="Times New Roman" size=2 color=red>SUBJECT TO COMPLETION, DATED NOVEMBER
6, 2012 </FONT></B></P>
<P align=left><B><FONT face="Times New Roman" size=2>PROSPECTUS </FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=5>RESEARCH FRONTIERS
INCORPORATED</FONT></B></P>
<P align=center><B><FONT face="Times New Roman">3,000,000 Shares of Common Stock and
Warrants to Purchase Common Stock<BR>Offered by Research Frontiers
Incorporated<BR>____________________</FONT></B></P>
<P align=center><B><FONT face="Times New Roman">1,250,000 Shares of Common Stock Offered by
the Selling Stockholders<BR>250,000 Warrants to Purchase Common Stock Offered by
the Selling Stockholders<BR>250,000 Shares of Common Stock Issuable Upon
Exercise of the<BR>Warrants Offered by the Selling
Stockholders<BR>____________________</FONT></B></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Times New Roman" size=2>We may from
time to time issue up to 3,000,000 shares of common stock and warrants to
purchase such common stock and the selling stockholders named in this prospectus
may offer, from time to time, up to an additional 1,250,000 shares of our common
stock, 250,000 warrants to purchase our common stock, and 250,000 shares of our
common stock that are issuable upon the exercise of the warrants held by the
selling stockholders. A general description of the known material terms of the
securities we are offering is included in this prospectus. We will specify in a
supplement any specific material terms of the securities offered that are
unknown as of the date of this prospectus.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>We will not receive any proceeds
from the sale of securities offered by the selling stockholders. We will bear
the expenses of the offering of the securities, except that the selling
stockholders will pay any applicable underwriting fees, discounts or commissions
and certain transfer taxes with respect to their securities. </FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Our registration of the securities
covered by this prospectus does not mean that we or the selling stockholders
will offer or sell any of the securities. We and the selling stockholders may
offer and sell the securities in the same offering or in separate offerings, to
or through underwriters, dealers and agents or directly to purchasers. If any
agents, dealers or underwriters are involved in the sale of the securities
offered pursuant to this prospectus, we will set forth their names and describe
their compensation in a prospectus supplement. We provide further information
regarding how we or the selling stockholders will sell our respective securities
in the &#147;Plan of Distribution&#148; section beginning on page 10.</FONT></P>
<DIV align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Our common stock is
listed on the Nasdaq Capital Market under the symbol &#147;REFR.&#148; The last reported
sale price of our common stock on the Nasdaq Capital Market on October 31, 2012
was $4.17.</FONT></DIV>
<DIV align=center>____________________<BR></DIV>
<DIV align=left><BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Times New Roman" size=2><B>The
securities offered in this prospectus involve a high degree of risk. See &#147;Risk
Factors&#148; beginning on page 1 for a discussion of the information that should be
considered in connection with an investment in our securities. </B></FONT></DIV>
<DIV align=center>____________________<BR></DIV>
<DIV align=left><FONT face="Times New Roman" size=2></FONT><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman"><BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><STRONG>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.
</STRONG></FONT></DIV>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><STRONG>This prospectus may not be
used to consummate a sale of securities unless it is accompanied by a prospectus
supplement. </STRONG></FONT></P>
<P align=center><B><FONT face="Times New Roman" size=2>The date of this prospectus
is&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2012 </FONT></B></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=center><U><B><FONT face="Times New Roman" size=2>TABLE OF
CONTENTS</FONT></B></U></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="96%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>ABOUT THIS PROSPECTUS</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>i</FONT><FONT face="Times New Roman" size=2></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="96%"><FONT face="Times New Roman" size=2>PROSPECTUS SUMMARY</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>1</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="96%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>RISK FACTORS</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>1</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="96%"><FONT face="Times New Roman" size=2>DIVIDENDS</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>5</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="96%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>USE OF PROCEEDS</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>5</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="96%"><FONT face="Times New Roman" size=2>DESCRIPTION OF COMMON STOCK</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>6</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="96%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>DESCRIPTION OF WARRANTS</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>8</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="96%"><FONT face="Times New Roman" size=2>DESCRIPTION OF SELLING STOCKHOLDER WARRANTS</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>9</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="96%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>SELLING STOCKHOLDERS</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>9</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="96%"><FONT face="Times New Roman" size=2>PLAN OF DISTRIBUTION</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>10</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="96%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>EXPERTS</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>12</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="96%"><FONT face="Times New Roman" size=2>LEGAL MATTERS</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>12</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="96%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>WHERE YOU CAN FIND MORE
INFORMATION</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>12</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="96%"><FONT face="Times New Roman" size=2>INCORPORATION OF CERTAIN INFORMATION BY
    REFERENCE</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>13</FONT></TD></TR></TABLE><div align=center>____________________</div>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Times New Roman" size=2><B>You
should rely only on the information contained in or incorporated by reference in
this prospectus. We nor the selling stockholders have authorized anyone to
provide you with different information. Neither we nor the selling stockholders
are making an offer of these securities in any state where the offer is not
permitted. You should not assume that the information contained in or
incorporated by reference in this prospectus is accurate as of any date other
than the date of such document. Our business, financial condition, results of
operations and prospects may have changed materially since those dates.</B></FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=center><B><FONT face="Times New Roman" size=2>ABOUT THIS PROSPECTUS </FONT></B></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Times New Roman" size=2>This
prospectus is part of a registration statement that we filed with the Securities
and Exchange Commission, or the SEC, using a &#147;shelf&#148; registration process. Under
this shelf registration process, we or the selling stockholders may, from time
to time, sell in one or more offerings any combination of the securities
described in this prospectus. </FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>This prospectus provides you with a
general description of the securities that we may issue. Each time we sell
securities, we will provide a prospectus supplement that will contain specific
information about the terms of that offering. Such prospectus supplement may
also add, update or change information contained in this prospectus. You should
read this prospectus and the applicable prospectus supplement together with the
additional information described under the heading &#147;Where You Can Find More
Information.&#148; We may also prepare free writing prospectuses that describe
particular securities. Any free writing prospectus should also be read in
connection with this prospectus and with any prospectus supplement referred to
therein. For purposes of this prospectus, any reference to an applicable
prospectus supplement may also refer to a free writing prospectus, unless the
context otherwise requires. </FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>When we refer to &#147;Research
Frontiers,&#148; &#147;our company,&#148; &#147;we,&#148; &#147;our&#148; and &#147;us&#148; in this prospectus, we mean
Research Frontiers Incorporated and its subsidiaries unless the context
indicates otherwise. When we refer to &#147;selling stockholders,&#148; we mean the
stockholders named in the &#147;Selling Stockholders&#148; section of this
prospectus.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The registration statement that
contains this prospectus, including the exhibits to the registration statement,
contains additional information about us and the securities offered under this
prospectus. That registration statement can be read at the SEC&#146;s website or at
the SEC&#146;s offices mentioned under the heading &#147;Where You Can Find More
Information.&#148; </FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The following trademarks are
property of Research Frontiers: SPD-Smart&#153;, SPD-SmartGlass&#153;, VaryFast&#153;,
SPD-CleanTech&#153;, SPD Clean Technology&#153;, SmartGlass&#153;, The View of the Future -
Everywhere you Look&#153;, Powered by SPD&#153;, Powered by SPD-CleanTech&#153;, Powered by SPD
Clean Technology&#153;, SG Enabled&#153;, SPD Green and Clean&#153;, SPD On-Board&#153;, Speed
Matters&#153;, and Visit SmartGlass.com - to change your view of the world&#153;. Other
trademarks appearing in this prospectus and the documents incorporated by
reference herein and therein are property of their respective owners.
</FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>This prospectus and the documents
incorporated by reference may include &#147;forward-looking statements&#148; within the
meaning of Section 27A of the Securities Act of 1933, as amended, or the
Securities Act, and Section 21E of the Securities Exchange Act of 1934, as
amended, or the Exchange Act. Forward-looking statements include, without
limitation, any statement that may predict, forecast, indicate, or imply future
results, performance, or achievements, and may contain the words &#147;believe,&#148;
&#147;anticipate,&#148; &#147;expect,&#148; &#147;estimate,&#148; &#147;project,&#148; &#147;will be,&#148; &#147;will continue,&#148; &#147;will
likely result,&#148; or words or phrases of similar meaning. Forward-looking
statements inherently involve risks and uncertainties that may cause actual
results to differ materially from the forward-looking statements (&#147;Cautionary
Statements&#148;). The risks and uncertainties include, but are not limited to, those
matters addressed in this prospectus under the &#147;Risk Factors&#148; section and
elsewhere in this prospectus and in the incorporated documents. Such
developments could have a material adverse impact on our financial position and
our results of operations. All subsequent written and oral forward-looking
statements attributable to us or persons acting on our behalf are expressly
qualified in their entirety by the Cautionary Statements. Readers are cautioned
not to place undue reliance on these forward-looking statements, which speak
only as of their dates. We undertake no obligation to publicly update or revise
any forward-looking statements, whether as a result of new information, future
events or otherwise. </FONT><FONT face="Times New Roman"></FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The distribution of this prospectus
and the applicable prospectus supplement and the offering of the securities in
certain jurisdictions may be restricted by law. Persons into whose possession
this prospectus and the applicable prospectus supplement come should inform
themselves about and observe any such restrictions. This prospectus and the
applicable prospectus supplement do not constitute, and may not be used in
connection with, an offer or solicitation by anyone in any jurisdiction in which
such offer or solicitation is not authorized or in which the person making such
offer or solicitation is not qualified to do so or to any person to whom it is
unlawful to make such offer or solicitation. </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>i </FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=center><B><FONT face="Times New Roman" size=2>PROSPECTUS SUMMARY </FONT></B></P>
<P align=left><B><FONT face="Times New Roman" size=2>The Company </FONT></B></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Times New Roman" size=2>We develop
and license our suspended particle device light-control technology for
controlling the amount of light passing through a device to other companies that
manufacture and market either the SPD-Smart chemical emulsion, light-control
film made from the chemical emulsion, lamination services, electronics to power
end-products incorporating the film, or the end-products themselves such as
&#147;smart&#148; windows, skylights and sunroofs. Such suspended particle devices are
often referred to as &#147;SPDs,&#148; &#147;light valves,&#148; or &#147;SPD-Smart&#148; products.
</FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>SPD-Smart products use microscopic
light-absorbing nanoparticles that are typically suspended in a film. These
particles align when an electrical voltage is applied, thus permitting light to
pass through the film. Adjustment of the voltage to the SPD film gives users the
ability to quickly, precisely and consistently regulate the amount of light,
glare and heat passing through the window, skylight, sunroof, window shade or
other SPD-Smart end-product. This SPD film can be incorporated between two
layers of glass or plastic, or combinations of both, to produce a laminate that
has enhanced energy efficiency, light-control and security performance
properties. Our offices are located at: 240 Crossways Park Drive, Woodbury, NY
11797 (telephone: 516-364-1902). </FONT></P>
<P align=left><B><FONT face="Times New Roman" size=2>Issuance of Stock and Warrants to Selling Stockholders </FONT></B></P>
<P align=left><B><FONT face="Times New Roman" size=2></FONT></B><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>On October 2, 2012, we
entered into a Common Stock and Warrant Purchase Agreement with the selling
stockholders named in this prospectus, pursuant to which they purchased an
aggregate 1,250,000 shares of common stock and 250,000 warrants to purchase
common stock. Each share and corresponding warrant were sold at an aggregate
price of $4.49, resulting in gross proceeds to us of approximately $5,612,500.
The warrants may be exercised at anytime from April 8, 2013 to April 8, 2018, at
an exercise price of $6.73 per share. The transaction closed on October 9, 2012.
The securities issued in this private placement were not registered under the
Securities Act or any state securities laws and were issued and sold in the
private placement pursuant to Regulation D of the Securities Act. Pursuant to
the registration rights granted to the selling stockholders under the purchase
agreement, we are registering the securities issued to the selling stockholders
in the private placement. </FONT><B><FONT face="Times New Roman" size=2></FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2>RISK FACTORS </FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2></FONT><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><EM>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. </EM></FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><EM>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: </EM></FONT></P>
<P align=left><B><I><FONT face="Times New Roman" size=2>Source and Need for
Capital.</FONT></I></B><FONT face="Times New Roman" size=2> </FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>As of September 30, 2012, we had
approximately $8.0 million in cash and cash equivalents. 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><B><FONT face="Times New Roman" size=2></FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>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&#146;s technology by the company&#146;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=center><FONT face="Times New Roman" size=2>1 </FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><I><FONT face="Times New Roman" size=2>History of Operating
Losses.</FONT></I></B><FONT face="Times New Roman" size=2> </FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<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, 2012, we had
an accumulative deficit of $86,867,621. Our net loss was $4,134,068 in 2011,
$3,874,865 in 2010 and $4,002,761 in 2009 and $2,459,335 for the nine months
ended September 30, 2012 (which includes non-cash compensation expense in 2011,
2010 and 2009 of $702,837, $772,604 and $445,913, respectively, and in the nine
months ended September 30, 2012 of $788,000).</FONT></P>
<P align=left><B><I><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></I></B><FONT face="Times New Roman" size=2> </FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>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><B><I><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></I></B></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>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 our company
profitable. </FONT></P>
<P align=left><B><I><FONT face="Times New Roman" size=2>SPD-Smart products have only
recently been introduced.</FONT></I></B></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>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><B><I><FONT face="Times New Roman" size=2>SPD-Smart products face intense
competition, which could affect our ability to increase our
revenues.</FONT></I></B></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>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=center><FONT face="Times New Roman" size=2>2 </FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><I><FONT face="Times New Roman" size=2>Declining production of automobiles,
airplanes, boats and real estate could harm our business.</FONT></I></B><FONT face="Times New Roman" size=2> </FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<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><B><I><FONT face="Times New Roman" size=2>Single source of SPD
film.</FONT></I></B></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>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><B><I><FONT face="Times New Roman" size=2>We are dependent on key
personnel.</FONT></I></B></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>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><B><I><FONT face="Times New Roman" size=2>Dependence on SPD-Smart
technology.</FONT></I></B></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>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><B><I><FONT face="Times New Roman" size=2>Our patents and other protective
measures may not adequately protect our proprietary intellectual property, and
we may be infringing on the rights of others.</FONT></I></B></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>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 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>
<P align=left><B><I><FONT face="Times New Roman" size=2>We have broad discretion in the use
of the proceeds of this offering.</FONT></I></B></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>All of our net proceeds from this
offering will be used, as determined by management in its sole discretion, for
working capital and other general corporate purposes. Our management will have
broad discretion over the use and investment of the net proceeds of this
offering and there is no assurance that management&#146;s chosen application of
proceeds will yield intended results. You will not have the opportunity, as part
of your investment decision, to assess whether our proceeds are being used
appropriately. Pending application of our proceeds, they might be placed in
investments that do not produce income or that lose value. </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>3 </FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><I><FONT face="Times New Roman" size=2>Future sales of our securities could
cause our stock price to decline.</FONT></I></B></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Times New Roman" size=2>If we or our
stockholders sell substantial amounts of our common stock in the public market,
the market price of our common stock could decrease. The perception in the
public market that we or our stockholders might sell shares of our common stock
could also depress the market price of our common stock. A decline in the price
of shares of our common stock might impede our ability to raise capital through
the issuance of additional shares of our common stock or other equity
securities. </FONT></P>
<P align=left><B><I><FONT face="Times New Roman" size=2>Our common stock has historically experienced low trading volume.</FONT></I></B></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>While our common stock is listed
on the Nasdaq Capital Market and has recently experienced increased trading volume, our common stock has historically experienced low trading
volume and there is no assurance that the increased trading volume will continue or be maintained. Reported average daily trading volume in our common stock for 2012
through October 31, 2012, was approximately 40,883 shares. Limited trading volume subjects our common stock to greater price
volatility and may make it difficult for you to sell your shares at a particular
price. </FONT></P>
<P align=left><B><I><FONT face="Times New Roman" size=2>Our ability to use net operating
loss carryforwards might be limited.</FONT></I></B></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>At December 31, 2011, we had a net
operating loss carryforward for federal income tax purposes of $55 million,
varying amounts of which will expire in each year from 2012 through 2031. To the
extent these net operating loss carryforwards are available, we intend to use
them to reduce any corporate income tax liability associated with our operations
we might have in the future. Section 382 of the Internal Revenue Code generally
imposes an annual limitation on the amount of net operating loss carryforwards
that might be used to offset taxable income when a corporation has undergone
significant changes in stock ownership. As a result, prior or future changes in
ownership could put limitations on the availability of our net operating loss
carryforwards. In addition, our ability to utilize the current net operating
loss carryforwards might be further limited by the issuance of securities in
this offering or future offerings. To the extent our use of our net operating
loss carryforwards or tax losses is limited, our income could be subject to
corporate income tax earlier than it would if we were able to use net operating
loss carryforwards, which could result in lower profits. </FONT></P>
<P align=left><B><I><FONT face="Times New Roman" size=2>Our organizational documents,
stockholders&#146; rights plan and Delaware law make a takeover of our company more
difficult, which may prevent certain changes in control and limit the market
price of our common stock.</FONT></I></B><FONT face="Times New Roman" size=2> </FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Our certificate of incorporation,
bylaws, stockholders&#146; rights plan and Section 203 of the Delaware General
Corporation Law contain provisions that may have the effect of deterring or
delaying attempts by our stockholders to remove or replace management, engage in
proxy contests and effect changes in control. These provisions of our
certificate of incorporation and bylaws include: </FONT></P>
<UL style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><LI><FONT face="Times New Roman" size=2>the authority for our board of directors to issue
  without stockholder approval up to 100,000,000 shares of common stock, that,
  if issued, would dilute the ownership of our stockholders;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>the advance notice requirement for director
  nominations or for proposals that can be acted upon at stockholder
  meetings;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>a classified board of directors, which may make it
  more difficult for a person who acquires control of a majority of our
  outstanding voting stock to replace all or a majority of our
  directors;&nbsp;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>the ability of our directors to fill any vacancy
  on our board of directors by the affirmative vote of a majority of the
  directors then in office under certain circumstances;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>limitations on the ability of our stockholders to
  act by written consent;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>limitations on who may call a special meeting of
  stockholders;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>the prohibition on stockholders accumulating their
  votes for the election of directors;</FONT></LI></UL>
<P align=center><FONT face="Times New Roman" size=2>4 </FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<UL style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><LI><FONT face="Times New Roman" size=2>the limitation on the removal of any of our
  directors by either an affirmative vote of the continuing directors (as
  defined in our certificate of incorporation) other than the subject director
  or by the affirmative vote of the holders of 80% of our outstanding shares of
  each class of stock having the power to vote in a director
  election;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>the requirement of the affirmative vote of the
  holders of at least 80% of our outstanding shares of each class of stock
  having the power to vote in a director election in order for stockholders to
  adopt, amend or repeal any provision of our certificate of incorporation or
  bylaws, unless the adoption, amendment or repeal is approved by a majority of
  the continuing directors (as defined in our certificate of incorporation)
  present at a meeting at which a quorum of the continuing directors are
  present; and<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>the requirement, subject to limited exceptions, of
  the affirmative vote of the holders of at least 80% of our outstanding shares
  of each class of stock having the power to vote in a director election in
  order for us to complete certain business combination transactions with
  interested stockholders.</FONT> </LI></UL>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Times New Roman" size=2>We also have
adopted a stockholders&#146; rights plan designed to deter stockholders from
acquiring shares of stock in excess of 15%. In addition, as a Delaware
corporation, we are subject to Delaware law, including Section 203 of the
Delaware General Corporation Law. In general, Section 203 prohibits a Delaware
corporation from engaging in any business combination with any interested
stockholder for a period of three years following the date that the stockholder
became an interested stockholder unless certain specific requirements are met as
set forth in Section 203. </FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>These provisions could discourage
proxy contests and make it more difficult for you and other stockholders to
elect directors, replace incumbent management and take other corporate actions.
Some provisions in our certificate of incorporation and bylaws may deter third
parties from acquiring us, which may limit the market price of our common stock
or prevent us from consummating a proposed transaction that our stockholders
find to be in their best interests. </FONT></P>
<P align=left><B><I><FONT face="Times New Roman" size=2>There is currently no established
trading market for the warrants and we do not expect that one will
develop.</FONT></I></B><FONT face="Times New Roman" size=2> </FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The warrants registered hereunder
will not be listed on the Nasdaq Capital Market or any other securities exchange
and there is currently no established trading market for the warrants. We do not
intend to make a market in the warrants and do not expect that one will develop.
Therefore, you may have to hold the warrants you purchase in this offering until
such time, if any, as you wish to exercise the warrants or we redeem them.
</FONT></P>
<P align=left><B><I><FONT face="Times New Roman" size=2>There must be a current prospectus
and state registration in order for you to exercise the
warrants.</FONT></I></B><FONT face="Times New Roman" size=2> </FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Purchasers of the common stock and
warrants offered by us will be able to exercise the warrants only if a current
prospectus relating to the common stock underlying the warrants is then in
effect and only if such securities are qualified for sale or exempt from
qualification under the applicable securities laws of the states in which the
various holders of warrants reside. Although we will attempt to maintain the
effectiveness of a current prospectus covering the common stock underlying the
warrants, there can be no assurance that we will be able to do so. We will be
unable to issue common stock to those persons desiring to exercise their
warrants if a current prospectus covering the common stock issuable upon the
exercise of the warrants is not kept effective or if such shares are neither
qualified nor exempt from qualification in the states in which the holders of
the warrants reside. </FONT></P>
<P align=center><B><FONT face="Times New Roman" size=2>DIVIDENDS </FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>We have never paid any cash
dividends and do not expect to pay any cash dividends for the foreseeable
future. </FONT></P>
<P align=center><B><FONT face="Times New Roman" size=2>USE OF PROCEEDS </FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>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. 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. We will not receive any proceeds from the sale of
our securities offered by the selling stockholders.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>5 </FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=center><B><FONT face="Times New Roman" size=2>DESCRIPTION OF COMMON STOCK
</FONT></B></P>
<P align=left><B><FONT face="Times New Roman" size=2>General </FONT></B></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Times New Roman" size=2>We can issue
100,000,000 shares of common stock, $0.0001 par value per share. As of November
6, 2012, 22,646,782 shares were issued and outstanding. Holders of our common
stock are entitled to one vote per share on matters submitted to shareholders
for their approval, to dividends if declared by us, and to share in any
distribution of our assets. All outstanding shares of common stock are fully
paid for and non-assessable. Holders of our common stock do not have cumulative
voting rights or preemptive rights. Therefore, a minority stockholder may be
less able to gain representation on our board of directors.</FONT></P>
<P align=left><B><FONT face="Times New Roman" size=2>Anti-Takeover Effects of Certain
Provisions of Delaware Law and Our Certificate of Incorporation and Bylaws
</FONT></B></P>
<P align=left><B><I><FONT face="Times New Roman" size=2>Certificate of Incorporation and
Bylaws</FONT></I></B></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Our certificate of incorporation and
bylaws contain provisions that may have the effect of deterring or delaying
attempts by our stockholders to remove or replace management, engage in proxy
contests and effect changes in control. These provisions of our certificate of
incorporation and bylaws include: </FONT></P>
<UL style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><LI><FONT face="Times New Roman" size=2>the authority for our board of directors to issue
  without stockholder approval up to 100,000,000 shares of common stock, that,
  if issued, would dilute the ownership of our stockholders;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>the advance notice requirement for director
  nominations or for proposals that can be acted upon at stockholder
  meetings;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>a classified board of directors, which may make it
  more difficult for a person who acquires control of a majority of our
  outstanding voting stock to replace all or a majority of our
  directors;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>the ability of our directors to fill any vacancy
  on our board of directors by the affirmative vote of a majority of the
  directors then in office under certain circumstances;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>limitations on the ability of our stockholders to
  act by written consent;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>limitations on who may call a special meeting of
  stockholders;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>the prohibition on stockholders accumulating their
  votes for the election of directors;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>the limitation on the removal of any of our
  directors by either an affirmative vote of the continuing directors (as
  defined in our certificate of incorporation) other than the subject director
  or by the affirmative vote of the holders of 80% of our outstanding shares of
  each class of stock having the power to vote in a director
  election;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>the requirement of the affirmative vote of the
  holders of at least 80% of our outstanding shares of each class of stock
  having the power to vote in a director election in order for stockholders to
  adopt, amend or repeal any provision of our certificate of incorporation or
  bylaws, unless the adoption, amendment or repeal is approved by a majority of
  the continuing directors (as defined in our certificate of incorporation)
  present at a meeting at which a quorum of the continuing directors are
  present; and<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>the requirement, subject to limited exceptions, of
  the affirmative vote of the holders of at least 80% of our outstanding shares
  of each class of stock having the power to vote in a director election in
  order for us to complete certain business combination transactions with
  interested stockholders.</FONT> </LI></UL>
<P align=center><FONT face="Times New Roman" size=2>6 </FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><I><FONT face="Times New Roman" size=2>Delaware Law </FONT></I></B></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Times New Roman" size=2>We are also
subject to Section 203 of the Delaware General Corporation Law, which in general
prohibits a Delaware corporation from engaging in any business combination with
any interested stockholder for a period of three years following the date that
the stockholder became an interested stockholder, unless: </FONT><FONT face="Times New Roman"></FONT></P>
<UL style="FONT-SIZE: 10pt; TEXT-ALIGN: left"><LI><FONT face="Times New Roman" size=2>prior to that date, our board of directors
  approved either the business combination or the transaction that resulted in
  the stockholder becoming an interested stockholder;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>upon consummation of the transaction that resulted
  in the stockholder becoming an interested stockholder, the interested
  stockholder owned at least 85% of our voting stock outstanding at the time the
  transaction commenced, excluding for purposes of determining the number of
  shares outstanding (but not the outstanding voting stock owned by the
  interested stockholder) those shares owned by (i) persons who are directors
  and also officers and (ii) employee stock plans in which employee participants
  do not have the right to determine confidentially whether shares held subject
  to the plan will be tendered in a tender or exchange offer; or<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>on or subsequent to that date, the business
  combination is approved by our board of directors and authorized at an annual
  or special meeting of stockholders, and not by written consent, by the
  affirmative vote of at least 66&#8532;% of the outstanding voting stock that is
  not owned by the interested stockholder.</FONT></LI></UL>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>In general, Section 203 defines an
interested stockholder as an entity or person beneficially owning 15% or more of
the outstanding voting stock of the corporation and any entity or person
affiliated with or controlling or controlled by any of these entities or
persons. </FONT><FONT face="Times New Roman"></FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The above-summarized provisions of
the Delaware General Corporation Law and our certificate of incorporation and
bylaws could make it more difficult to acquire us by means of a tender offer, a
proxy contest or otherwise, or to remove incumbent officers and directors. These
provisions are expected to discourage certain types of coercive takeover
practices and takeover bids that our board of directors may consider inadequate
and to encourage persons seeking to acquire control of us to first negotiate
with our board of directors. We believe that the benefits of increased
protection of our ability to negotiate with the proponent of an unfriendly or
unsolicited proposal to acquire or restructure us outweigh the disadvantages of
discouraging takeover or acquisition proposals because, among other things,
negotiation of these proposals could result in an improvement of their terms.
</FONT><FONT face="Times New Roman"></FONT></P>
<P align=left><B><FONT face="Times New Roman" size=2>Stockholders&#146; Rights Plan
</FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>In February 2003, our board of
directors adopted a Stockholders&#146; Rights Plan, or the Rights Plan, and declared a
dividend distribution of one right, or a Right, for each outstanding share of our
common stock to stockholders of record at the close of business on March 3,
2003. Subject to certain exceptions listed in the Rights Plan, if a person or
group has acquired beneficial ownership of, or commences a tender or exchange
offer for, 15% or more of the our common stock, unless redeemed by our board of
directors, each Right entitles the holder (other than the acquiring person) to
purchase from us $120 worth of common stock for $60. If we are merged into, or
50% or more of its assets or earning power is sold to, the acquiring company,
the Rights will also enable the holder (other than the acquiring person) to
purchase $120 worth of common stock of the acquiring company for $60. The Rights
will expire at the close of business on February 18, 2013, unless the Rights
Plan is extended by our board of directors or unless the Rights are earlier
redeemed by us at a price of $.0001 per Right. The Rights are not exercisable
during the time when they are redeemable by us. The above description highlights
some of the features of the Company&#146;s Rights Plan and is not a complete
description of the Rights Plan. A more detailed description and copy of the
Rights Plan has been filed with the SEC and is available from us upon
request.</FONT></P>
<P align=left><B><FONT face="Times New Roman" size=2>Registration Rights </FONT></B></P>
<P align=left><B><I><FONT face="Times New Roman" size=2></FONT></I></B><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>On October 2, 2012, we
entered into a Common Stock and Warrant Purchase Agreement with the selling
stockholders, which required us to file with the SEC, this registration
statement on Form S-3 to register the securities sold to the selling
stockholders, including the common stock, the warrants, and the common stock
issuable upon exercise of the warrants.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>7 </FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><FONT face="Times New Roman" size=2>Listing </FONT></B></P>
<P align=left><B><FONT face="Times New Roman" size=2></FONT></B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Times New Roman" size=2>Our
common stock is listed on the Nasdaq Capital Market under the symbol
&#147;REFR.&#148;</FONT></P>
<P align=left><B><FONT face="Times New Roman" size=2>Transfer Agent and
Registrar</FONT></B></P>
<P align=left><B><FONT face="Times New Roman" size=2></FONT></B><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Continental Stock
Transfer and Trust Company is the transfer agent and registrar for our common
stock.</FONT></P>
<P align=left><B><FONT face="Times New Roman" size=2>Disclosure of SEC Position on
Indemnification for Securities Act Liabilities</FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Insofar as indemnification for
liabilities arising under the Securities Act may be permitted for directors,
officers, and persons controlling our company, we understand that it is the
SEC&#146;s opinion that such indemnification is against public policy as expressed in
the Securities Act and may therefore be unenforceable. </FONT></P>
<P align=center><B><FONT face="Times New Roman" size=2>DESCRIPTION OF WARRANTS
</FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The following description sets forth
certain general terms and provisions of the warrants offered by us 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><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>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><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>We will describe in the applicable
prospectus supplement the terms of the series of warrants, including:</FONT></P>
<UL style="FONT-SIZE: 10pt"><LI><FONT face="Times New Roman" size=2>the offering price and aggregate number of
  warrants offered;<BR>&nbsp;</FONT>
  </LI><LI><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;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>the dates on which the right to exercise the
  warrants will commence and expire;<BR>&nbsp;</FONT>
  </LI><LI><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;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>the terms of any rights to redeem or call the
  warrants;<BR>&nbsp;</FONT>
  </LI><LI><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;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>to the extent material, federal income tax
  consequences of holding or exercising the warrants; and&nbsp;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>any other specific terms, preferences, rights or
  limitations of or restrictions on the warrants. </FONT></LI></UL>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp; <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>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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=center><FONT face="Times New Roman" size=2>8 </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>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><B><FONT face="Times New Roman" size=2>DESCRIPTION OF SELLING STOCKHOLDER
WARRANTS </FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The warrants offered by the selling stockholders will entitle the holder
to purchase one share of our common stock at an exercise price of $6.73 per
share. Holders of the warrants may exercise the warrants at any time from April
8, 2013 to 4:30 P.M. Woodbury, New York time on April 8, 2018, after which
unexercised warrants will become void.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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 cash 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.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The warrants provide that the holder may not exercise the warrant to the
extent that such exercise will cause the holder to beneficially own more than
14.999% of the common stock of the company then issued and outstanding. This
restriction may not be waived.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The exercise price and the number and type of securities purchasable upon
exercise of warrants are subject to adjustment upon certain corporate events,
including certain combinations, consolidations, liquidations, mergers,
recapitalizations, reclassifications, reorganizations, stock dividends and stock
splits, a sale of all or substantially all of our assets and certain other
events.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>No fractional warrant shares will be issued upon exercise of the
warrants. The holders will be entitled to participate in any dividends or other
distributions paid, or rights offered, to holders of our common stock on an
as-exercised basis. </FONT></P>
<P align=center><B><FONT face="Times New Roman" size=2>SELLING STOCKHOLDERS </FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>We are registering for resale shares of common stock of the selling
stockholders, warrants offered by the selling stockholders, and shares of common
stock issuable upon exercise of the warrants held by the selling stockholders.
The securities offered by the selling stockholders were acquired on October 9,
2012 in a private placement pursuant to the Common Stock and Warrant Purchase
Agreement between us and the selling stockholders named below. Each share and
corresponding warrant was sold at an aggregate price of $4.49. The warrants are
exercisable from April 8, 2013 until April 8, 2018 at an exercise price of $6.73
per share. The shares of
common stock being offered by the selling stockholders are those purchased
pursuant to the purchase agreement described above and those issuable to the
selling stockholders upon exercise of the warrants. Except for the ownership of
securities described below, the selling stockholders have not had any material
relationship with us in the past three years. Unless the context otherwise
requires, as used in this prospectus, &#147;selling stockholders&#148; includes the
selling stockholders named in the table below and donees, pledgees, transferees
or other successors-in-interest selling shares received from the selling
stockholders as a gift, pledge, partnership distribution or other transfer after
the date of this prospectus.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The table below sets forth information regarding the beneficial ownership
of our common stock by the selling stockholders as of October 25, 2012. The
information regarding the selling stockholders&#146; beneficial ownership after the
sales made pursuant to this prospectus assumes that all of the common stock
subject to sale pursuant to this prospectus will have been sold. The common
stock and warrants subject to sale by the selling stockholders pursuant to this
prospectus may be offered from time to time, in whole or in part, by the selling
stockholders.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>9 </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="69%"></TD>
    <TD noWrap style="text-align: center" width="4%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="4%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="7%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="13%" colSpan=3><B><FONT face="Times New Roman" size=1>Shares
      Beneficially</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="69%"></TD>
    <TD noWrap style="text-align: center" width="9%" colSpan=3><B><FONT face="Times New Roman" size=1>Shares</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="7%"><B><FONT face="Times New Roman" size=1>Shares Subject to
      Sale</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="13%" colSpan=3><B><FONT face="Times New Roman" size=1>Owned</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="69%"></TD>
    <TD noWrap style="text-align: center" width="9%" colSpan=3><B><FONT face="Times New Roman" size=1>Beneficially</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="7%"><B><FONT face="Times New Roman" size=1>Pursuant to
      this</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="13%" colSpan=3><B><FONT face="Times New Roman" size=1>After Sale of
      All Shares Subject to Sale</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="69%"></TD>
    <TD noWrap style="text-align: center" width="9%" colSpan=3><B><FONT face="Times New Roman" size=1>Owned Before
      Any Sale</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="7%"><B><FONT face="Times New Roman" size=1>Prospectus</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="13%" colSpan=3><B><FONT face="Times New Roman" size=1>Pursuant to
      this Prospectus</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="69%"><B><FONT face="Times New Roman" size=1>Name</FONT></B></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="4%"><B><FONT face="Times New Roman" size=1>Number</FONT></B></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="4%"><B><FONT face="Times New Roman" size=1>Percent</FONT></B></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="7%"><B><FONT face="Times New Roman" size=1>Number</FONT></B></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="6%"><B><FONT face="Times New Roman" size=1>Number</FONT></B></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="1%">&nbsp;&nbsp; &nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="6%"><B><FONT face="Times New Roman" size=1>Percent</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="69%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Douglas Family TR u/a dtd
      1/29/90</FONT></TD>
    <TD noWrap style="text-align: center" width="4%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap style="text-align: center" width="4%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="7%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="6%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="6%" bgColor=#c0c0c0>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="69%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman">James &amp; Jean Douglas TTEES <SUP>(1)</SUP></FONT></TD>
    <TD noWrap style="text-align: center" width="4%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>430,840</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="4%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>1.9%</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2></FONT></TD>
    <TD noWrap style="text-align: center" width="7%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>250,000</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="6%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>180,840</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap style="text-align: center" width="6%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>*</FONT></TD></TR>
  <TR>
    <TD noWrap align=left width="69%">&nbsp;
</TD>
    <TD noWrap style="text-align: center" width="4%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="4%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="7%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="6%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="6%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="69%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>K&amp;M Douglas TR u/a dtd
      3/23/06</FONT></TD>
    <TD noWrap style="text-align: center" width="4%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="4%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="7%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="6%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap style="text-align: center" width="6%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="69%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Kevin &amp; Michelle
      Douglas</FONT></TD>
    <TD noWrap style="text-align: center" width="4%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="4%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="7%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="6%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="6%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="69%" bgColor=#c0c0c0><FONT size=2 face="Times New Roman">TTEES<SUP>(2)</SUP></FONT></TD>
    <TD noWrap style="text-align: center" width="4%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>646,260</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="4%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>2.9%</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2></FONT></TD>
    <TD noWrap style="text-align: center" width="7%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>375,000</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="6%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>271,260</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="6%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>1.2%</FONT></TD></TR>
  <TR>
    <TD noWrap align=left width="69%">&nbsp;
</TD>
    <TD noWrap style="text-align: center" width="4%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="4%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="7%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="6%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="6%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="69%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Douglas Irrev Descendants
      TR u/a</FONT></TD>
    <TD noWrap style="text-align: center" width="4%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="4%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="7%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="6%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="6%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="69%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>dtd 8/7/98 Kevin &amp;
      Michelle</FONT></TD>
    <TD noWrap style="text-align: center" width="4%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="4%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="7%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="6%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="6%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="69%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Douglas
      TTEES<SUP>(3)</SUP></FONT></TD>
    <TD noWrap style="text-align: center" width="4%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>1,077,099</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="4%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>4.8%</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2></FONT></TD>
    <TD noWrap style="text-align: center" width="7%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>625,000</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="6%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>452,099</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap style="text-align: center" width="6%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>2.0%</FONT></TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="69%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="4%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="4%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="7%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="6%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="6%"></TD></TR></TABLE><BR>
<TABLE style="LINE-HEIGHT: normal; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=center width="1%"><FONT face="Times New Roman" size=2>*</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%">&nbsp;<FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD vAlign=top align=left width="97%"><FONT face="Times New Roman" size=2>Indicates less than one
      percent.</FONT></TD></TR>
  <TR>
    <TD vAlign=top align=center width="99%" colSpan=3>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=center width="1%"><FONT face="Times New Roman" size=2>(1)</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD vAlign=top align=left width="97%"><FONT face="Times New Roman" size=2>Includes 10,000 shares subject to
      outstanding warrants exercisable within 60 days. James Douglas and Jean
      Douglas serve as trustees of the Douglas Family TR u/a dtd 1/29/90
      (&#147;Douglas Family Trust&#148;) and may be deemed to have indirect beneficial
      ownership of the securities owned directly by Douglas Family Trust. The
      business address for Douglas Family Trust is 125 E. Sir Francis Dr.
      Boulevard, Suite 400, Larkspur, California 94939.</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=center width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="97%"><FONT face="Times New Roman" size=2>&nbsp; </FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=center width="1%"><FONT face="Times New Roman" size=2>(2)</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD vAlign=top align=left width="97%"><FONT face="Times New Roman" size=2>Includes 15,000 shares subject to
      outstanding warrants exercisable within 60 days. Kevin Douglas and
      Michelle Douglas serve as trustees for the K&amp;M Douglas TR u/a dtd
      3/23/06 TTEES (&#147;K&amp;M Douglas Trust&#148;) and may be deemed to have indirect
      beneficial ownership of the securities owned directly by the K&amp;M
      Douglas Trust. The business address for the K&amp;M Douglas Trust is 125
      E. Sir Francis Dr. Boulevard, Suite 400, Larkspur, California
    94939.</FONT></TD></TR>
  <TR>
    <TD vAlign=top align=center width="99%" colSpan=3>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=center width="1%"><FONT face="Times New Roman" size=2>(3)</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD vAlign=top align=left width="97%"><FONT face="Times New Roman" size=2>Includes 25,000 shares subject to
      outstanding warrants exercisable within 60 days. Kevin Douglas and
      Michelle Douglas serve as trustees for the Douglas Irrev Descendants TR
      u/a dtd 8/7/98 TTEES (the &#147;Douglas Irrevocable Trust&#148;) and may be deemed
      to have indirect beneficial ownership of the securities owned directly by
      Douglas Irrevocable Trust. The business address for Douglas Irrevocable
      Trust is 125 E. Sir Francis Dr. Boulevard Suite 400, Larkspur, California
      94939.</FONT></TD></TR></TABLE><BR>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>As indicated
above, the selling stockholders own warrants to purchase our common stock, which
were issued pursuant to the October 2012 private placement, but such warrants
are not exercisable until April 8, 2013. The Douglas Family Trust owns warrants
to purchase 50,000 shares of our common stock, the K&amp;M Douglas Trust owns
warrants to purchase 75,000 shares of our common stock, and the Douglas
Irrevocable Trust owns warrants to purchase 125,000 shares of our common
stock.</FONT></P>
<P align=center><B><FONT face="Times New Roman" size=2>PLAN OF DISTRIBUTION </FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>We are registering 3,000,000 shares of our common stock and warrants to
purchase our common stock. We are also registering for resale by the selling
stockholders and certain transferees a total of 1,250,000 shares of our common
stock, 250,000 warrants to purchase common stock, and 250,000 shares of our
common stock issuable upon exercise of the warrants held by the selling
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>We will not receive any of the proceeds from the sale by the selling
stockholders of the securities, although we will receive the proceeds from the
exercise of the warrants by the selling stockholders. We will bear all fees and
expenses incident to our obligation to register the securities. If the
securities are sold through broker-dealers or agents, the selling stockholder
will be responsible for any compensation to such broker-dealers or agents. The
selling stockholders may pledge or grant a security interest in some or all of
the securities owned by them and, if they default in the performance of their
secured obligations, the pledgees or secured parties may offer and sell the
securities from time to time pursuant to this prospectus. The selling
stockholders also may transfer and donate the securities in other circumstances
in which case the transferees, donees, pledgees or other successors in interest
will be the selling beneficial owners for purposes of this prospectus.
</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>10 </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"></FONT></FONT>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>We or the
selling stockholders may offer and sell all or a portion of the securities
registered pursuant to this prospectus from time to time, in one or more or any
combination of the following transactions:</FONT></P>
<UL style="FONT-SIZE: 10pt"><LI><FONT face="Times New Roman" size=2>through dealers or agents to the public or to
  investors; <BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>in privately negotiated
  transactions;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>in underwritten transactions;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>in ordinary brokerage transactions and
  transactions in which the broker solicits; or<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>through a combination of such methods.
</FONT></LI></UL>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>The offering
price of the securities from time to time will be determined by us or the
selling stockholders, as applicable, and the price may be at the market price of
our common stock on the Nasdaq Capital Market or any other exchange or market at
the time of such sale, at negotiated prices, at fixed prices or at carrying
prices determined at the time of sale;</FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Some or all of the securities may be sold through one or more
broker-dealers or agents and may involve crosses, block transactions or hedging
transactions. We or the selling stockholders may enter into hedging transactions
with broker-dealers or agents, which may in turn engage in short sales of the
common stock in the course of hedging in positions they assume. We or the
selling stockholders may also sell securities short and deliver securities to
close out short positions or loan or pledge securities to broker-dealers or
agents that in turn may sell such securities. In</FONT><B><FONT face="Times New Roman" size=2> </FONT></B><FONT face="Times New Roman" size=2>connection with such sales through
one or more broker-dealers or agents, such broker-dealers or agents may receive
compensation in the form of discounts, concessions or commissions from us or the
selling stockholders and may receive commissions from the purchasers of the
securities for whom they act as broker-dealer or agent or to whom they sell as
principal. Any underwriters, dealers or agents participating in a distribution
of the securities may be deemed to be &#147;underwriters&#148; within the meaning of the
Securities Act, and any profit on the sale of the securities and any commissions
received by broker-dealers may be deemed to be underwriting commissions under
the Securities Act. The maximum compensation to be received by any member of the
Financial Industry Regulatory Authority, Inc. in connection with any
distribution of securities we are registering will not exceed 8% of the proceeds
from any sale of such securities.</FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>We have not, and the selling stockholders have advised us that they have
not, entered into any agreements, understandings or arrangements with any
underwriters or broker-dealers regarding the sale of securities. Upon entering
into, or upon notification by the selling stockholders that they have entered
into, any material arrangement with an underwriter or broker-dealer for the sale
of securities through a block trade, special offering, exchange distribution,
secondary distribution or a purchase by an underwriter or broker-dealer, we will
file a prospectus supplement, if required, pursuant to Rule 424(b) under the
Securities Act, disclosing certain material information, including:</FONT></P>
<UL style="FONT-SIZE: 10pt"><LI><FONT face="Times New Roman" size=2>the name of the applicable
seller;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>the type and number of securities being
  offered;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>the terms of the offering;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>the proceeds we will receive from the
  sale;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>the names of the participating underwriters,
  broker-dealers or agents; <BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>any discounts, commissions or other compensation
  paid to underwriters or broker-dealers and any discounts, commissions or
  concessions allowed or reallowed or paid by any underwriters to dealers;
  <BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>any over-allotment options under which
  underwriters may purchase additional securities from us; <BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>the public offering price;<BR>&nbsp;</FONT>
  </LI><LI><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; and
  <BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>other material terms of the offering.
</FONT></LI></UL>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Under the securities laws of some states, the securities may be sold in
such states only through registered or licensed brokers or dealers. In addition,
in some states the securities may not be sold unless such shares have been
registered or qualified for sale in such state or an exemption from registration
or qualification is available and is complied with. There can be no assurance
that we or any selling stockholder will sell any or all of the securities
registered pursuant to the shelf registration statement, of which this
prospectus forms a part. </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>11 </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>We or the selling
stockholders and any other person participating in such distribution will be
subject to applicable provisions of the Exchange Act and the rules and
regulations thereunder, including, without limitation, Regulation M of the
Exchange Act, which may limit the timing of purchases and sales of any of the
securities by the us, the selling stockholders, and any other participating
person. Regulation M may also restrict the ability of any person engaged in the
distribution of the securities to engage in market-making activities with
respect to the securities. All of the foregoing may affect the marketability of
the securities and the ability of any person or entity to engage in
market-making activities with respect to the securities. </FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>We will bear all expenses of the registration of the securities
including, without limitation, SEC filing fees and expenses of compliance with
the state securities of &#147;blue sky&#148; laws. The selling stockholders will pay all
underwriting discounts and selling commissions and expenses, brokerage fees and
transfer taxes, as well as the fees and disbursements of counsel to and experts
for the selling stockholders, if any. We or the selling stockholders may agree
to indemnify an underwriter, broker-dealer, or agent against certain liabilities
related to the selling of the securities, including liabilities arising under
the Securities Act. We will indemnify the selling stockholders against
liabilities, including some liabilities under the Securities Act, in accordance
with the registration rights agreement or the selling stockholder will be
entitled to contribution. We will be indemnified by the selling stockholders
against civil liabilities, including liabilities under the Securities Act that
may arise from any written information furnished to us by the selling
stockholders for use in this prospectus, in accordance with the related
securities purchase agreement or will be entitled to contribution. Once sold
under this shelf registration statement, of which this prospectus forms a part,
the securities will be freely tradable in the hands of persons other than our
affiliates. </FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Any securities covered by this prospectus that qualify for sale pursuant
to Rule 144 under the Securities Act may be sold under Rule 144 rather than
pursuant to this prospectus.</FONT></P>
<P align=center><B><FONT face="Times New Roman" size=2>EXPERTS </FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The financial statements and schedule of Research Frontiers as of
December 31, 2011 and 2010, and for each of the three years in the period ended
December 31, 2011, and management&#146;s assessment of the effectiveness over
internal controls as of December 31, 2011, 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><B><FONT face="Times New Roman" size=2>LEGAL MATTERS </FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The legality of the securities offered hereby has been passed upon by the
law firm of Faegre Baker Daniels LLP, Minneapolis, Minnesota.</FONT></P>
<P align=center><B><FONT face="Times New Roman" size=2>WHERE YOU CAN FIND MORE INFORMATION
</FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>We are subject to the information requests of the Exchange Act and file
reports, proxy statements and other information with the SEC. 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 the company, which
are filed electronically with the SEC. Additional information about us can also
be found at our website at http://www.SmartGlass.com. The information on, or
that may be accessed through, our web site is not incorporated by reference into
and should not be considered a part of this prospectus. </FONT></P>

<P align=center><FONT face="Times New Roman" size=2>12 </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=center><B><FONT face="Times New Roman" size=2>INCORPORATION OF CERTAIN INFORMATION
BY REFERENCE </FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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"><LI><FONT face="Times New Roman" size=2>annual report on Form 10-K for the fiscal year
  ended December 31, 2011; <BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>the portions of the proxy statement dated April
  27, 2012 for our annual meeting of stockholders held on June 14, 2012 that
  have been incorporated by reference into our report on Form 10-K for the
  fiscal year ended December 31, 2011; <BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>quarterly reports on Form 10-Q for the fiscal
  quarters ended March 31, 2012, June 30, 2012, and September 30, 2012;
  <BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>current reports on Form 8-K filed with the SEC on
  June 18, 2012, August 2, 2012, August 28, 2012, and October 5, 2012;
  <BR>&nbsp;</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>&nbsp;&nbsp;&nbsp;&nbsp; <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 securities offered under this
prospectus shall be deemed to be incorporated by reference into this prospectus
(except for information furnished and not filed with the SEC in a Current Report
on Form 8-K). </FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>We will provide without charge to each person, including a beneficial
owner, to whom this prospectus is delivered upon written or oral request, 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: 240 Crossways Park Drive,
Woodbury, New York 11797-2033, Attention: Corporate Secretary (telephone: (516)
364-1902).</FONT><B><FONT face="Times New Roman" size=2> </FONT></B></P>
<P align=center><FONT face="Times New Roman" size=2>13 </FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=center><B><FONT face="Times New Roman" size=2>PART II</FONT></B><B><FONT face="Times New Roman"> </FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2>INFORMATION NOT REQUIRED IN THE
PROSPECTUS</FONT></B><B><FONT face="Times New Roman"> </FONT></B></P>
<P align=left><B><FONT face="Times New Roman" size=2>Item 14. Other Expenses of Issuance and
Distribution.</FONT></B><B><FONT face="Times New Roman"> </FONT></B></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>Estimated
expenses relating to the distribution of the securities registered herein are
set forth below. Such expenses will be paid by us.</FONT></P>
<DIV align=center>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="98%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="95%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Registration Fee under the Securities Act of
      1933</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;2,584.10</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="95%"><FONT face="Times New Roman" size=2>Accounting fees and expenses</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>*</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="95%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Legal fees and expenses</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>*</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="95%"><FONT face="Times New Roman" size=2>Transfer agent and registrar fees and expenses</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>*</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="95%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>FINRA fees and expenses</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>*</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="95%"><FONT face="Times New Roman" size=2>Miscellaneous expenses</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>*</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="95%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      Total</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>*</FONT></TD></TR>
  <TR>
    <TD noWrap align=left width="95%"  bgColor=#ffffff>____________________</TD>
    <TD noWrap align=left width="1%"  bgColor=#ffffff></TD>
    <TD noWrap align=right width="3%"  bgColor=#ffffff></TD></TR>
  <TR>
    <TD noWrap align=left width="95%"  bgColor=#ffffff>&nbsp;</TD>
    <TD noWrap align=left width="1%"  bgColor=#ffffff></TD>
    <TD noWrap align=right width="3%"  bgColor=#ffffff></TD></TR>
  <TR>
    <TD align=left width="95%"  bgColor=#ffffff>
      <DIV style="PADDING-LEFT: 6pt; TEXT-INDENT: -6pt"><FONT face="Times New Roman" size=2>*These fees are calculated based upon the
      number of issuances in applicable offerings and amount of securities
      offered and, accordingly, cannot be estimated at this
time.</FONT></DIV></TD>
    <TD noWrap align=left width="1%"  bgColor=#ffffff></TD>
    <TD noWrap align=right width="3%"  bgColor=#ffffff></TD></TR></TABLE></DIV>

<P align=left><B><FONT face="Times New Roman" size=2>Item 15. Indemnification of Directors
and Officers.</FONT></B><B><FONT face="Times New Roman"> </FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Article EIGHTH of Research Frontiers&#146; 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, or 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><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;</FONT>145
Indemnification of Officers, Directors, Employees and Agents;
Insurance</FONT></P>
<P align=left><FONT face="Times New Roman"></FONT><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 </FONT><I><FONT face="Times New Roman" size=2>nolo
contendere</FONT></I><FONT face="Times New Roman" size=2> 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=center><FONT face="Times New Roman" size=2>II-1 </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>(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>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(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><FONT face="Times New Roman"> </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"></FONT><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>
<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=center><FONT face="Times New Roman" size=2>II-2 </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>(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. Section 102(b) (7) of the GCL
provides as follows:</FONT></P>
<P align=left><FONT face="Times New Roman"></FONT><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 style="PADDING-LEFT: 15pt" 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>
<P align=left><B><FONT face="Times New Roman" size=2>Item 16. Exhibits </FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The list of exhibits in the Exhibit Index
to this registration statement is incorporated herein by reference. </FONT><FONT face="Times New Roman"></FONT></P>
<P align=left><B><FONT face="Times New Roman" size=2>Item 17.
Undertakings.</FONT></B><B><FONT face="Times New Roman"> </FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;</FONT>The
undersigned registrant hereby undertakes:</FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(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 style="PADDING-LEFT: 15pt" align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT>(a) To include any prospectus required by
section 10(a)(3) of the Securities Act of 1933;</FONT><FONT face="Times New Roman">
</FONT></P>
<P style="PADDING-LEFT: 15pt" align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT>(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 style="PADDING-LEFT: 15pt" align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT>(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=center><FONT face="Times New Roman" size=2>II-3 </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><I>Provided,
however</I>, 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><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(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
</FONT><I><FONT face="Times New Roman" size=2>bona fide</FONT></I><FONT face="Times New Roman" size=2>
offering 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>(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><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(4) That, for the purpose of determining liability under the Securities
Act of 1933 to any purchaser:</FONT></P>
<P style="padding-left: 15pt" align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(a) If the registrant is relying on Rule 430B:</FONT></P>
<P style="padding-left: 30pt" align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(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><FONT face="Times New Roman"> </FONT></P>
<P style="padding-left: 30pt" align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(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><FONT face="Times New Roman"> </FONT></P>
<P style="padding-left: 15pt" align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(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><FONT face="Times New Roman"></FONT></P>
<P align=center><FONT face="Times New Roman" size=2>II-4 </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>(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>
<P style="padding-left: 15pt" align=left>&nbsp;&nbsp;&nbsp;&nbsp; <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 style="padding-left: 15pt" align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(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 style="padding-left: 15pt" align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(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 style="padding-left: 15pt" align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(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><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(6) 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 </FONT><I><FONT face="Times New Roman" size=2>bona
fide</FONT></I><FONT face="Times New Roman" size=2> offering 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>(7) 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 foregoing provisions, 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 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>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(8) That, for purposes of determining any liability under the Securities
Act of 1933:</FONT></P>
<P style="padding-left: 15pt" align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(a) the information omitted from the form of prospectus filed as part of
the registration statement in reliance upon Rule 430A and contained in the form
of prospectus filed by the Registrant pursuant to Rule 424(b)(1) or (4) or
497(h) under the Securities Act of 1933 shall be deemed to be part of the
registration statement as of the time it was declared effective; and</FONT></P>
<P style="padding-left: 15pt" align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(b) each post-effective amendment that contains a form of prospectus
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><B><FONT face="Times New Roman" size=2> </FONT></B></P>
<P align=center><FONT face="Times New Roman" size=2>II-5 </FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=center><B><FONT face="Times New Roman" size=2>SIGNATURES</FONT></B><B><FONT face="Times New Roman"> </FONT></B></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 November 6, 2012.</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="50%">&nbsp;</TD>
    <TD noWrap align=left width="50%" colSpan=2><B><FONT face="Times New Roman" size=2>RESEARCH
      FRONTIERS INCORPORATED</FONT></B></TD></TR>
  <TR>
    <TD width="50%"></TD>
    <TD width="50%" colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD width="50%"></TD>
    <TD width="50%" colSpan=2>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="50%"></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>By:&nbsp; </FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="49%"><FONT face="Times New Roman" size=2>/s/
      Joseph M. Harary</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="50%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="49%"><FONT face="Times New Roman" size=2>Joseph M. Harary</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="50%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="49%"><FONT face="Times New Roman" size=2>President and Chief Executive
    Officer</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="50%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="49%"><FONT face="Times New Roman" size=2>(Principal Executive Officer)</FONT></TD></TR>
  <TR>
    <TD width="50%"></TD>
    <TD width="50%" colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD width="50%"></TD>
    <TD width="50%" colSpan=2>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="50%"></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>By:</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="49%"><FONT face="Times New Roman" size=2>/s/
      Seth Van Voorhees</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="50%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="49%"><FONT face="Times New Roman" size=2>Seth Van Voorhees</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="50%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="49%"><FONT face="Times New Roman" size=2>Vice President-Business Development and
      Chief Financial Officer</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="50%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="49%"><FONT face="Times New Roman" size=2>(Principal Financial and Accounting
      Officer)</FONT></TD></TR></TABLE><BR>
<P align=center><FONT face="Times New Roman" size=2>II-6 </FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=center><B><FONT face="Times New Roman" size=2>POWER OF ATTORNEY</FONT></B><B><FONT face="Times New Roman"> </FONT></B></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>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="23%"><B><FONT face="Times New Roman" size=2>Signature</FONT></B></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="1%">&nbsp;&nbsp;&nbsp; &nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="66%"><B><FONT face="Times New Roman" size=2>Title</FONT></B></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="10%"><B><FONT face="Times New Roman" size=2>Date</FONT></B></TD></TR>
    <TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE=" text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE=" text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE=" text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE=" text-align: center">&nbsp;</TD></TR>
<TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="23%"><FONT face="Times New Roman" size=2>/s/
      Joseph M. Harary</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="66%"><FONT face="Times New Roman" size=2>President, Chief Executive Officer,
      Director</FONT></TD>
    <TD noWrap style="text-align: center" width="10%"><FONT face="Times New Roman" size=2>November 6, 2012</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="23%"><FONT face="Times New Roman" size=2>Joseph M. Harary</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="66%"><FONT face="Times New Roman" size=2>(Principal Executive Officer)</FONT></TD>
    <TD noWrap align=left width="10%"></TD></TR>
  <TR>
    <TD width="100%" colSpan=4>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="23%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="66%"><FONT face="Times New Roman" size=2>Vice President-Business Development and
      Chief</FONT></TD>
    <TD noWrap align=left width="10%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="23%"><FONT face="Times New Roman" size=2>/s/
      Seth Van Voorhees</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="66%"><FONT face="Times New Roman" size=2>Financial Officer</FONT></TD>
    <TD noWrap style="text-align: center" width="10%"><FONT face="Times New Roman" size=2>November 6, 2012</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="23%"><FONT face="Times New Roman" size=2>Seth Van Voorhees</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="66%"><FONT face="Times New Roman" size=2>(Principal Financial and Accounting
      Officer)</FONT></TD>
    <TD noWrap align=left width="10%"></TD></TR>
  <TR>
    <TD width="100%" colSpan=4>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="23%"><FONT face="Times New Roman" size=2>/s/
      Robert L. Saxe</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="66%"><FONT face="Times New Roman" size=2>Chairman of the Board of Directors</FONT></TD>
    <TD noWrap style="text-align: center" width="10%"><FONT face="Times New Roman" size=2>November 6, 2012</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="23%"><FONT face="Times New Roman" size=2>Robert L. Saxe</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="66%"></TD>
    <TD noWrap align=left width="10%"></TD></TR>
  <TR>
    <TD width="100%" colSpan=4>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="23%"><FONT face="Times New Roman" size=2>/s/
      Darryl Daigle</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="66%"><FONT face="Times New Roman" size=2>Director</FONT></TD>
    <TD noWrap style="text-align: center" width="10%"><FONT face="Times New Roman" size=2>November 6, 2012</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="23%"><FONT face="Times New Roman" size=2>Darryl Daigle</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="66%"></TD>
    <TD noWrap align=left width="10%"></TD></TR>
  <TR>
    <TD width="100%" colSpan=4>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="23%"><FONT face="Times New Roman" size=2>/s/
      Jack Derby</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="66%"><FONT face="Times New Roman" size=2>Director</FONT></TD>
    <TD noWrap style="text-align: center" width="10%"><FONT face="Times New Roman" size=2>November 6, 2012</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="23%"><FONT face="Times New Roman" size=2>Jack Derby</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="66%"></TD>
    <TD noWrap align=left width="10%"></TD></TR>
  <TR>
    <TD width="100%" colSpan=4>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="23%"><FONT face="Times New Roman" size=2>/s/
      Gregory G. Grimes</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="66%"><FONT face="Times New Roman" size=2>Director</FONT></TD>
    <TD noWrap style="text-align: center" width="10%"><FONT face="Times New Roman" size=2>November 6, 2012</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="23%"><FONT face="Times New Roman" size=2>Gregory G. Grimes</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="66%"></TD>
    <TD noWrap align=left width="10%"></TD></TR>
  <TR>
    <TD width="100%" colSpan=4>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="23%"><FONT face="Times New Roman" size=2>/s/
      M. Philip Guthrie</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="66%"><FONT face="Times New Roman" size=2>Director</FONT></TD>
    <TD noWrap style="text-align: center" width="10%"><FONT face="Times New Roman" size=2>November 6, 2012</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="23%"><FONT face="Times New Roman" size=2>M. Philip Guthrie</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="66%"></TD>
    <TD noWrap align=left width="10%"></TD></TR>
  <TR>
    <TD width="100%" colSpan=4>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="23%"><FONT face="Times New Roman" size=2>/s/
      Victor F. Keen</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="66%"><FONT face="Times New Roman" size=2>Director</FONT></TD>
    <TD noWrap style="text-align: center" width="10%"><FONT face="Times New Roman" size=2>November 6, 2012</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="23%"><FONT face="Times New Roman" size=2>Victor F. Keen</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="66%"></TD>
    <TD noWrap align=left width="10%"></TD></TR></TABLE><BR>
<P align=center><FONT face="Times New Roman" size=2>II-7 </FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=center><B><FONT face="Times New Roman" size=2>EXHIBIT INDEX </FONT></B><FONT face="Times New Roman"></FONT></P>
<TABLE style="LINE-HEIGHT: normal; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" align=left width="3%"><B><FONT face="Times New Roman" size=2>Exhibit</FONT></B></TD>
    <TD align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" align=left width="95%"><B><FONT face="Times New Roman" size=2>Description</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>1.1*</FONT></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="95%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Form of Underwriting Agreement.</FONT></TD></TR>
  <TR>
    <TD vAlign=top align=left width="3%">&nbsp;</TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="95%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>4.1</FONT></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="95%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Restated Certificate of Incorporation of the
      Company (previously filed as Exhibit 3.1 to the Company&#146;s Quarterly Report
      on Form 10-Q for the fiscal quarter ended June 30, 1994, which is
      incorporated herein by reference).</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="3%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="95%"><FONT face="Times New Roman" size=2>&nbsp;</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>4.2</FONT></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="95%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Amended and Restated Bylaws of the Company
      (previously filed as Exhibit 99.2 to the Company&#146;s Annual Report on Form
      10-K for the fiscal year ended December 31, 2007 (Reg. No. 001-09399),
      which is incorporated herein by reference).</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="3%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="95%"><FONT face="Times New Roman" size=2>&nbsp;</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>4.3</FONT></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="95%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Form of Common Stock Certificate (previously
      filed as an Exhibit to the Company&#146;s Registration Statement on Form S-18
      (Reg. No. 33-5573NY), declared effective by the Commission on July 8,
      1986, which is incorporated herein by reference).</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="3%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="95%"><FONT face="Times New Roman" size=2>&nbsp;</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>4.4</FONT></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="95%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Rights Agreement dated as of February 18,
      2003 between the Company and Continental Stock Transfer &amp; Trust
      Company, as Rights Agent, which includes as Exhibit A thereto the Form of
      Rights Certificate (previously filed as an Exhibit to the Company&#146;s
      Registration Statement on Form 8-A dated February 24, 2003 (Reg. No.
      000-14893), which is incorporated herein by reference).</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="3%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="95%"><FONT face="Times New Roman" size=2>&nbsp;</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>4.5</FONT></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="95%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Common Stock and Warrant Purchase Agreement
      between the Company and the Purchasers listed on Exhibit A thereto, dated
      October 2, 2012 (previously filed as Exhibit 4.3 to the Company&#146;s Current
      Report on Form 8-K filed on October 5, 2012 (Reg. No. 001-09399), which is
      incorporated herein by reference).</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="3%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="95%"><FONT face="Times New Roman" size=2>&nbsp;</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>4.6</FONT></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="95%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Form of Selling Stockholder Warrant
      (previously filed as Exhibit 4.3 to the Company&#146;s Current Report on Form
      8-K filed on October 5, 2012 (Reg. No. 001-09399), which is incorporated
      herein by reference).</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="3%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="95%"><FONT face="Times New Roman" size=2>&nbsp;</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>4.7*</FONT></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="95%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Form of Warrant.</FONT></TD></TR>
  <TR>
    <TD vAlign=top align=left width="99%" colSpan=3>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>5.1</FONT></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="95%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Opinion of Faegre Baker Daniels LLP (filed
      herewith).</FONT></TD></TR>
  <TR>
    <TD vAlign=top align=left width="3%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="95%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>23.1</FONT></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="95%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Consent of BDO USA, LLP (filed
      herewith).</FONT></TD></TR>
  <TR>
    <TD vAlign=top align=left width="3%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="95%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>23.2</FONT></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="95%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Consent of Faegre Baker Daniels LLP
      (included in Exhibit 5.1).</FONT></TD></TR>
  <TR>
    <TD vAlign=top align=left width="3%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="95%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=left width="3%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>24.1</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=left width="95%" bgColor=#c0c0c0><FONT face="Times New Roman" size=2>Powers of
      Attorney (included on the signature pages of this Registration
      Statement).</FONT></TD></TR>
  <TR>
    <TD vAlign=top width="99%" colSpan=3>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="3%"><FONT face="Times New Roman" size=2>*</FONT></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="95%"><FONT face="Times New Roman" size=2>To be filed, if necessary, after effectiveness of this registration
      statement by an amendment or by report filed under the Securities and
      Exchange Act of 1934, as amended, and incorporated by reference
      herein.</FONT></TD></TR></TABLE>
<BR>
<P align=center><FONT face="Times New Roman" size=2>II-8 </FONT></P>
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<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>exhibit5-1.htm
<DESCRIPTION>OPINION OF FAEGRE BAKER DANIELS LLP (FILED HEREWITH)
<TEXT>

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<P align=right><B><FONT face="Times New Roman" size=2>Exhibit 5.1 </FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2>Faegre Baker Daniels
LLP<BR></FONT></B><FONT face="Times New Roman" size=2>2200 Wells Fargo
Center<BR></FONT><FONT face="Times New Roman" size=2>90 South Seventh Street<BR></FONT><FONT face="Times New Roman" size=2>Minneapolis, Minnesota 55402<BR></FONT><FONT face="Times New Roman" size=2>(612) 766-7000</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>November 6, 2012</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Research Frontiers
Incorporated<BR></FONT><FONT face="Times New Roman" size=2>240 Crossways Park
Drive<BR>Woodbury, New York 11797</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Ladies and Gentlemen: </FONT><FONT face="Times New Roman"></FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>We have acted
as counsel for Research Frontiers Incorporated, a Delaware corporation (the
&#147;</FONT><I><FONT face="Times New Roman" size=2>Company</FONT></I><FONT face="Times New Roman" size=2>&#148;),
in connection with the Registration Statement on Form S-3 (the &#147;</FONT><I><FONT face="Times New Roman" size=2>Registration Statement</FONT></I><FONT face="Times New Roman" size=2>&#148;)
filed by the Company with the Securities and Exchange Commission (the
&#147;</FONT><I><FONT face="Times New Roman" size=2>Commission</FONT></I><FONT face="Times New Roman" size=2>&#148;)</FONT><I><FONT face="Times New Roman" size=2> </FONT></I><FONT face="Times New Roman" size=2>under the Securities Act of 1933, as amended (the &#147;</FONT><I><FONT face="Times New Roman" size=2>Securities Act</FONT></I><FONT face="Times New Roman" size=2>&#148;), relating
to: (i) the issuance and sale by the Company from time to time of (a) up to
3,000,000 shares of common stock, $0.0001 par value per share, of the Company
(&#147;</FONT><I><FONT face="Times New Roman" size=2>Common Stock</FONT></I><FONT face="Times New Roman" size=2>&#148;), including Common Stock as may from time to time be issued upon the
exercise of the Warrants (defined below) and (b) warrants to purchase Common
Stock (the &#147;</FONT><I><FONT face="Times New Roman" size=2>Warrants</FONT></I><FONT face="Times New Roman" size=2>&#148;); and (ii) the offering and sale by the parties listed as
selling stockholders in the Registration Statement (the &#147;</FONT><I><FONT face="Times New Roman" size=2>Selling Stockholders</FONT></I><FONT face="Times New Roman" size=2>&#148;) from
time to time of (a) up to 1,250,000 shares of Common Stock (the &#147;</FONT><I><FONT face="Times New Roman" size=2>Selling Stockholder Shares</FONT></I><FONT face="Times New Roman" size=2>&#148;); (b) up to 250,000 warrants exercisable for an aggregate of 250,000
shares of Common Stock (the &#147;</FONT><I><FONT face="Times New Roman" size=2>Selling
Stockholder Warrants</FONT></I><FONT face="Times New Roman" size=2>&#148;); and (c) the 250,000
shares of Common Stock issuable by the Company upon exercise of the Selling
Stockholder Warrants. The shares of the Common Stock, the Warrants, the Selling
Stockholder Shares, Selling Stockholder Warrants, and the Warrant Shares are
referred to herein collectively as the &#147;</FONT><I><FONT face="Times New Roman" size=2>Securities.</FONT></I><FONT face="Times New Roman" size=2>&#148;</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>The Securities
may be offered separately or together with other Securities, in separate
offerings, and in amounts, at prices and on terms to be set forth in the
prospectus (the &#147;</FONT><I><FONT face="Times New Roman" size=2>Prospectus</FONT></I><FONT face="Times New Roman" size=2>&#148;)</FONT><I><FONT face="Times New Roman" size=2> </FONT></I><FONT face="Times New Roman" size=2>and one or more supplements to the prospectus (each, a
&#147;</FONT><I><FONT face="Times New Roman" size=2>Prospectus Supplement</FONT></I><FONT face="Times New Roman" size=2>&#148;) constituting a part of the Registration Statement, and in
the Registration Statement. </FONT><FONT face="Times New Roman"></FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Common Stock is to be issued under the Restated Certificate of
Incorporation. The Warrants are to be issued under the warrant certificate in a
form to be filed and incorporated into the Registration Statement, with
appropriate insertions (each, a &#147;</FONT><I><FONT face="Times New Roman" size=2>Warrant
Certificate</FONT></I><FONT face="Times New Roman" size=2>&#148;), to be issued by the Company.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>As part of the corporate actions taken and to be taken (the
&#147;</FONT><I><FONT face="Times New Roman" size=2>Corporate Proceedings</FONT></I><FONT face="Times New Roman" size=2>&#148;) in connection with issuance of any Securities to be issued
and sold by the Company from time to time under the Registration Statement, the
Board of Directors, a committee thereof or certain authorized officers of the
Company as authorized by the Board of Directors will, before such Securities are
issued under the Registration Statement, duly authorize the issuance and approve
the terms of such Securities. </FONT><FONT face="Times New Roman"></FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In connection with rendering this opinion, we have examined (i) the
Registration Statement; (ii) the Restated Certificate of Incorporation of the
Company; (iii) the Amended and Restated Bylaws of the Company; and (iv) the form
of warrant certificate with respect to the Selling Stockholder Warrants (the
&#147;</FONT><I><FONT face="Times New Roman" size=2>Selling Stockholder Warrant
Certificates</FONT></I><FONT face="Times New Roman" size=2>&#148;). We also have examined the
originals, or duplicates or certified or conformed copies, of such corporate and
other records, agreements, documents and other instruments and have made such
other investigations as we have deemed relevant and necessary in connection with
the opinions hereinafter set forth. As to questions of fact material to this
opinion, we have relied upon certificates or comparable documents of public
officials and of officers and representatives of the Company. </FONT><FONT face="Times New Roman"></FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In rendering the opinions set forth below, we have assumed the
genuineness of all signatures, the legal capacity of natural persons, the
authenticity of all documents submitted to us as originals, the conformity to
original documents of all documents submitted to us as duplicates or certified
or conformed copies and the authenticity of the originals of such latter
documents. </FONT><FONT face="Times New Roman"></FONT></P>


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<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In expressing our opinions below, we have assumed, with your consent,
that: </FONT></P>

<UL style="FONT-SIZE: 10pt"><LI><FONT face="Times New Roman" size=2>the Registration Statement (including any and all
  required post-effective amendments thereto) will have</FONT> <FONT face="Times New Roman" size=2>become effective under the Securities Act and will comply with all
  applicable laws;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>the Registration Statement will comply with all
  applicable laws at the time the Securities are offered or sold</FONT> <FONT face="Times New Roman" size=2>as contemplated by the Registration Statement (including any
  and all required post-effective amendments</FONT> <FONT face="Times New Roman" size=2>thereto) and the Prospectus and the applicable Prospectus
  Supplement(s);<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>no stop order suspending the effectiveness of the
  Registration Statement (including any and all required post-effective amendments thereto) will have been issued and
  remain in effect;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>a Prospectus Supplement describing the Securities
  offered thereby and the offering thereof and complying</FONT> <FONT face="Times New Roman" size=2>with all applicable laws will have been prepared and filed with the
  Commission;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>the Securities will be offered and sold in the
  form and with the terms set forth in the Registration Statement</FONT> <FONT face="Times New Roman" size=2>(including any and all required post-effective amendments
  thereto), the Prospectus and the applicable</FONT> <FONT face="Times New Roman" size=2>Prospectus Supplement(s) and the organizational documents of the
  Company;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>the Securities will be offered and sold in
  compliance with all applicable federal and state securities laws and</FONT>
  <FONT face="Times New Roman" size=2>in the manner stated in the Registration Statement
  (including any and all required post-effective amendments</FONT> <FONT face="Times New Roman" size=2>thereto), the Prospectus and the applicable Prospectus
  Supplement(s);<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>the Securities offered and sold will not violate
  any applicable law or result in a default under or breach of any</FONT> <FONT face="Times New Roman" size=2>agreement or instrument binding upon the
  Company;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>the Company will have obtained any and all legally
  required consents, approvals, authorizations and other</FONT> <FONT face="Times New Roman" size=2>orders of the Commission and any and all other regulatory authorities
  and other third parties necessary to</FONT> <FONT face="Times New Roman" size=2>offer and
  sell the Securities being offered;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>the Securities offered and sold will comply with
  all requirements and restrictions, if any, applicable to the</FONT> <FONT face="Times New Roman" size=2>Company, whether imposed by any court or governmental or
  regulatory body having jurisdiction over the</FONT> <FONT face="Times New Roman" size=2>Company;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>to the extent applicable, a definitive purchase,
  underwriting or similar agreement (each a &#147;</FONT><I><FONT face="Times New Roman" size=2>Purchase</FONT></I> <I><FONT face="Times New Roman" size=2>Agreement</FONT></I><FONT face="Times New Roman" size=2>&#148;) with respect to any
  Securities offered and sold will have been duly authorized and validly</FONT>
  <FONT face="Times New Roman" size=2>executed and delivered by the Company and the other
  parties thereto; and<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>any Securities or other securities issuable upon
  conversion, exchange or exercise of any Security being</FONT> <FONT face="Times New Roman" size=2>offered and sold will be duly authorized, created and, if appropriate,
  reserved for issuance upon such</FONT> <FONT face="Times New Roman" size=2>conversion,
  exchange or exercise.</FONT></LI></UL>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>Based on the
foregoing, we are of the opinion that: </FONT><FONT face="Times New Roman"></FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT>1.</FONT><FONT face="Times New Roman" size=2> </FONT><FONT face="Times New Roman" size=2>With
respect to any Common Stock, upon (a) the completion of all required Corporate
</FONT><FONT face="Times New Roman" size=2>Proceedings with respect to the issuance of such
Common Stock, (b) the due execution by the Company, countersignature and
registration by the Company&#146;s transfer agent/registrar and delivery on behalf of
the Company of certificates (if issued as certificates) representing such Common
Stock, (c) payment and delivery in accordance with the Purchase Agreement, and
(d) in the case of Common Stock issuable upon the exercise of Warrants or the
Selling Stockholder Warrants, completion of the actions in respect of such
Warrants and Selling Stockholder Warrants referred to in paragraph 2 or 4 hereof
(as the case may be), such Common Stock will be duly authorized, validly issued,
and fully paid and nonassessable.</FONT><FONT face="Times New Roman"> </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>2.</FONT><FONT face="Times New Roman" size=2> </FONT><FONT face="Times New Roman" size=2>With
respect to any Warrants, upon (a) the due authorization, execution and delivery
of the </FONT><FONT face="Times New Roman" size=2>Warrant Certificates pursuant to which
such Warrants are to be issued, (b) the completion of all required Corporate
Proceedings with respect to the issuance and terms of such Warrants, (c) the due
authorization, execution and delivery of such Warrant Certificates against
payment therefor in accordance with the terms of such Warrants, and (d) the due
authentication of such Warrant Certificates by the Company, such Warrants will
be legally issued, valid and binding obligations of the Company. </FONT><FONT face="Times New Roman"></FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>3.</FONT><FONT face="Times New Roman" size=2> </FONT><FONT face="Times New Roman" size=2>The
Selling Stockholder Shares have been duly authorized, validly issued and are
fully paid and nonassessable.</FONT><FONT face="Times New Roman"> </FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>4.</FONT><FONT face="Times New Roman" size=2> </FONT><FONT face="Times New Roman" size=2>The Selling Stockholder
Warrants have been duly authorized and validly issued, and constitute valid and
binding obligations of the Company entitled to the benefits of the Selling
Stockholder Warrant Certificates, enforceable against the Company in accordance
with their terms. </FONT><FONT face="Times New Roman"></FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>The opinions
set forth above are subject to the following qualifications and
exceptions:</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>a.</FONT><FONT face="Times New Roman" size=2> </FONT><FONT face="Times New Roman" size=2>Our
opinions stated above are subject to the effect of any applicable bankruptcy,
insolvency </FONT><FONT face="Times New Roman" size=2>(including, without limitation, all
laws relating to fraudulent transfers), reorganization, moratorium or other
similar laws of general application affecting creditors&#146; rights.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>b.</FONT><FONT face="Times New Roman" size=2> </FONT><FONT face="Times New Roman" size=2>Our
opinions stated above are subject to the effect of general principles of equity,
including, without limitation, concepts of materiality, reasonableness, good
faith and fair dealing, and other similar doctrines affecting the enforceability
of agreements generally (regardless of whether enforcement is considered in a
proceeding in equity or at law).</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>c.</FONT><FONT face="Times New Roman" size=2> </FONT><FONT face="Times New Roman" size=2>Our
opinions stated above are subject to limitations regarding the availability of
indemnification and contribution where such indemnification and contribution may
be limited by applicable law or the application of principles of public
policy.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>d.</FONT><FONT face="Times New Roman" size=2> </FONT><FONT face="Times New Roman" size=2>We
express no opinion as to the enforceability of (i) provisions that relate to
choice of law or forum selection, (ii) waivers by the Company of any statutory
or constitutional rights or remedies, (iii) terms which excuse any person or
entity from liability for, or require the Company to indemnify such person or
entity against, such person&#146;s or entity&#146;s negligence or willful misconduct, or
(iv) obligations to pay any prepayment premium, default interest rate, early
termination fee or other form of liquidated damages, if the payment of such
premium, interest rate, fee or damages may be construed as unreasonable in
relation to actual damages or disproportionate to actual damages suffered as a
result of such prepayment, default or termination.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>e. We draw
your attention to the fact that, under certain circumstances, the enforceability
of terms to the effect that provisions may not be waived or modified except in
writing may be limited. </FONT><FONT face="Times New Roman"></FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>We do not express any opinion herein concerning any law other than the
Delaware General Corporation Law (including the statutory provisions, all
applicable provisions of the Delaware Constitution and reported judicial
decisions interpreting the foregoing). </FONT><FONT face="Times New Roman"></FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>We hereby consent to the filing of this opinion as an exhibit to the
Registration Statement and to the reference to our firm under the caption &#147;Legal
Matters&#148; included in the Registration Statement and the related Prospectus. In
giving this consent, we do not hereby admit that we are in the category of
persons whose consent is required under Section 7 of the Securities Act or the
rules and regulations of the Commission.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>This opinion may be used only in connection with the offer and sale of
the Securities while the Registration Statement is effective. This opinion is
limited to the specific issues addressed herein, and no opinion may be inferred
or implied beyond that expressly stated herein. This opinion speaks only as of
the date the Registration Statement becomes effective under the Securities Act
and we assume no obligation to revise or supplement this opinion
thereafter.</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="50%"></TD>
    <TD noWrap align=left width="50%"><FONT face="Times New Roman" size=2>Very truly yours,</FONT></TD></TR>
  <TR>
    <TD noWrap align=left width="50%"></TD>
    <TD noWrap align=left width="50%">&nbsp;
  </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="50%"></TD>
    <TD noWrap align=left width="50%"><FONT face="Times New Roman" size=2>FAEGRE BAKER DANIELS LLP</FONT></TD></TR>
  <TR>
    <TD noWrap align=left width="50%"></TD>
    <TD noWrap align=left width="50%">&nbsp;
  </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="50%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="50%"><FONT face="Times New Roman" size=2>/s/
      W. Morgan Burns</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="50%"></TD>
    <TD noWrap align=left width="50%"><FONT face="Times New Roman" size=2>By: W. Morgan
Burns</FONT></TD></TR></TABLE><BR>
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<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>3
<FILENAME>exhibit23-1.htm
<DESCRIPTION>CONSENT OF BDO USA, LLP (FILED HEREWITH)
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<P align=right><B><FONT face="Times New Roman" size=2>Exhibit 23.1 </FONT></B></P>
<P align=center><U><FONT face="Times New Roman" size=2>Consent of Independent Registered
Public Accounting Firm</FONT></U><B><FONT face="Times New Roman" size=2> </FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>Research Frontiers, Inc.<BR>Woodbury, New
York </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>We hereby consent to the incorporation by
reference in the Registration Statement on Form S-3 of our reports dated March
13, 2012, relating to the consolidated financial statements, the effectiveness
of internal control over financial reporting, and schedule of Research
Frontiers, Inc. appearing in the Company&#146;s Annual Report on Form 10-K for the
year ended December 31, 2011. </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>We also consent to the reference to us
under the caption &#147;Experts&#148; in such Registration Statement. </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>/s/ BDO USA, LLP<BR>Melville, New York
</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>November 6, 2012 </FONT></P>
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