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Prospector
Profile
07.1181
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| Quantum Fuel System Technologies Worldwide, Inc. |
NAICS |
335910 |
| 17872 Cartwright Road
Irvine, CA 92614 |
Description |
Battery Mfg. |
| (949) 399-4500 |
Employees |
532 |
| http://www.qtww.com/ |
Revenue |
(mil) |
146.6830 |
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Income |
(mil) |
-140.5290 |
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Assets |
(mil) |
167.5430 |
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Liability |
(mil) |
90.0140 |
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(for the year ended 2007-04-30) |
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Category:
Loss/Deficit
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Event:
Quantum Fuel System Technologies Worldwide, Inc. reported a net loss of $140,529,297 on revenues of $130,016,726 for the year ended April 30, 2007, much higher compared to the net loss reported of $35,533,055 on revenues of $172,055,980. The Company also used $ 37,386,930 in cash for operating activities during the year ended April 30, 2007, slightly higher than the $36,829,254 in cash used during the previous fiscal year. As a result of its recurring losses, the Company has an accumulated deficit of $211,605,770 as of April 30, 2007.
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Intellectual Property:
The Company has two registered patents and one patent application that it received as part of its spin-off from IMPCO Technologies, Inc. In October 2002, the Company entered into a patent cross license agreement with GFI Control Systems, Inc. in connection with the parties’ mutual agreement to dismiss claims against each other for patent infringement. Pursuant to the agreement, the Company granted GFI a royalty-free, non-exclusive license to sell products utilizing in-tank regulators covered by its in-tank regulator patent, and GFI granted the Company a royalty-free, non-exclusive license to sell products utilizing in-tank solenoid valves covered by its in-tank solenoid valve patent. As part of its investment in Advanced Lithium Power, Inc., the Company was granted an exclusive license to use all licensed patents, know-how, trade secrets and other proprietary information and intellectual property rights pertaining to battery packs and battery management systems. [SEC Filing 10-K 07-17-07]
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Description:
The Company engages in the powertrain engineering, system integration, and manufacturing and assembly of packaged fuel systems, and battery control systems and accessories for automotive vehicles and applications.
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Officers:
Alan P. Niedzwiecki (Pres., CEO & Dir.); Jeffrey P. Beitzel (COO & Dir.); W. Brian Olson (CFO & Treas.); Glenn D. Moffett (VP); Bradley J. Timon (Chief Accounting Officer & Controller); Kenneth R. Lombardo (VP, Sec. & Gen. Counsel)
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Auditor:
Ernst & Young LLP
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Securities:
Common Stock-Symbol XQTWW; NasdaqGM;
77,552,399 common shares outstanding as of July 2, 2007.
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