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Prospector
Profile
c07
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| Raser Technologies, Inc. |
NAICS |
335312 |
| 5152 North Edgewood Drive, Suite 375
Provo, UT 84604 |
Description |
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| (801) 765-1200 |
Employees |
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| http://www.rasertech.com/ |
Revenue |
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$ 0.17 |
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Income |
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$ 45.48 |
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Assets |
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$ 184.03 |
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Liability |
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$ 177.75 |
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(for the year ended - 12-31-2008) |
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Category:
Loss/Deficit
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Event:
Raser Technologies, Inc., and subsidiaries reported a net loss of $3.5 million for the three months ended Sept. 30, 2009, compared with a net loss of $7.6 million in the same period in 2008. During the three months ended Sept. 30, 2009, the Company recognized revenue totaling $845,265 as compared with $30,000 during the same period in 2008.
At Sept. 30, 2009, the Company's consolidated balance sheets showed $158.2 million in total assets, $125.8 million in total liabilities, $27.9 million in non-controlling interest in Thermo No. 1 subsidiary, and $4.5 million in total shareholders' equity. The Company's consolidated balance sheets at Sept. 30, 2009, also showed strained liquidity with $10.0 million in total current assets available to pay $28.9 million in total current liabilities.
The Company has incurred substantial losses since inception, and is not operating at cash breakeven. If substantial losses continue, or if the Company is unable to secure sufficient additional funding on reasonable terms, liquidity concerns may require the Company to curtail or cease operations, liquidate or sell assets or pursue other actions that could adversely affect future operations.
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Intellectual Property:
The United States Patent and Trademark Office has issued seven patents to the Company, including two for resonant motors (U.S. Patent No's. 6,847,186 and 7,034,498); one for resonant unipolor generators (U.S. Patent No. 7,459,823); one for electromagnetic motors (U.S. Patent No. 7,034,499); one for motor controllers (U.S. Patent No. 7,026,785); one for pancake motors (U.S. Patent No. 7,116,029); and one for hydrodynamic slip rings (U.S. Patent No. 7,019,431). The Company has filed additional patent applications and expects to continue to file new patent applications as it continues to refine the PHEV project. [SEC Filing 10-K 03-17-09]
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Description:
Raser Technologies, Inc., is an environmental energy technology company focused on geothermal power development and technology licensing. The Company operates two business segments: Power Systems and Transportation & Industrial. The Power Systems segment develops clean, renewable geothermal electric power plants and anticipates also developing bottom-cycling operations in the future. TheTransportation & Industrial segment focuses on using its Symetron(TM) family of technologies to improve the efficiency of electric motors, generators and power electronic drives used in electric and hybrid electric vehicle propulsion systems.
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Officers:
Kraig T. Higginson (Chair.); Brent M. Cook (CEO); Martin F. Petersen ( CFO & PAO)
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Auditor:
Hein & Associates LLP
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Securities:
Common Stock Symbol RZ; NYSE; 79,227,825 shares of common stock outstanding as of Nov. 6, 2009.
$10.7 million line of credit.
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