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Prospector
Profile
3-28-004
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| Raser Technologies, Inc. |
NAICS |
335312 |
| 5152 North Edgewood Drive, Suite 375,
Provo, UT 84604 |
Description |
Electric Motor Mfg. |
| (801) 765-1200 |
Employees |
40 |
| http://www.rasertech.com/ |
Revenue |
(mil) |
0.3200 |
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Income |
(mil) |
-15.7500 |
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Assets |
(mil) |
23.7800 |
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Liability |
(mil) |
4.3300 |
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(for the year ended 2007-12-31) |
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Category:
Audit Concerns
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Event:
Hein & Associates LLP raised substantial doubt about the ability of Raser Technologies, Inc., to continue as a going concern after it audited the Company's financial statements for the year ended December 31, 2007. The auditing firm notes that the Company has suffered losses and has used significant cash for operating activities since inception. The Company posted a net loss of $15,749,005 on revenues of $320,072 for the year ended December 31, 2007, as compared with a net loss of $18,488,936 on revenues of $122,732 in the prior year. As a result of its recurring losses, the Company has a total accumulated deficit of $51,222,653 as of December 31, 2007.
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Intellectual Property:
The Company's electromagnetic machine and power electronic drive technology is trademarked under the names SymetronTM and RaserTM. The U.S. Patent and Trademark Office has issued six patents to the Company for resonant motors (U.S. Patent Nos. 6,847,186 and 7,034,498); electromagnetic motors (U.S. Patent No. 7,034,499); motor controllers (U.S. Patent No. 7,026,785); pancake motors (U.S. Patent No. 7,116,029); and hydrodynamic slip rings (U.S. Patent No. 7,019,431). It has received a notice of allowance and has paid the issue fee in each of four additional applications. In addition to these four applications, the Company has six U.S. and five international patent applications and four foreign applications under the Madrid protocol that further define and develop the concepts of the core SymetronTM technologies. The Company also relies on a combination of laws and contractual restrictions with employees, customers, suppliers, affiliates and others to establish and protect proprietary rights. [SEC Filing 10-K 03-11-08]
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Description:
Raser Technologies, Inc., is engaged in technology licensing focused on improving the efficiency of rotating electromagnetic and heat transfer applications within the transportation, industrial and power generation markets.
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Officers:
Brent M. Cook (CEO & Dir.); Patrick J. Schwartz (Pres.); Martin F. Petersen (CFO); Richard D. Clayton (Gen. Counsel); Sergei F. Kolomeitsev (VP-Research and Development)
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Auditor:
Hein & Associates LLP
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Securities:
Common Stock Symbol RZ; NYSEArca; 56,057,153 common shares outstanding as of March 7, 2008.
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