Raser Technologies, Inc. (Raser) is a technology licensing company that develops and licenses advanced electric motor, electronic motor drive, power generation and related technologies. The Company's portfolio of electromagnetic technologies apply to both electricity-to-motion and motion-to-electricity applications, and include alternating current (AC) induction motors, controllers, alternators, integrated starter alternators (ISA) and generators along with other electromagnetic technologies in early stages of development. The Company has developed several solutions in electric motors and controllers that increase torque, power and efficiency. Raser calls its family of technology developments as Raser Symetron, and label motors enhanced by the technology as Symetron enhanced motors. The Company has segmented its technologies and sales efforts to focus on three target markets, transportation (including automotive, trains, trucks, buses, alternators and ISA), industrial (including heating, ventilation and air conditioning (HVAC), pumps, fans, conveyors and industrial motors), and power generation (including generators and power plant auxiliary equipment). Raser has applied its Raser Symetron family of technologies to alternators and generators, where the efficiency of these motion-to-electricity systems can be improved. The Company has developed solutions in AC induction motor design and control methods, which allow for operation with increased efficiency. This efficiency improvement increases the motor's continuous power rating, as well as decreases power consumption during periods of high-torque output in a motor that uses conventional materials and manufacturing processes. In mobile applications, higher torque will improve the responsiveness of the vehicle, while the added efficiency extends the battery life and consequently the range of operation. Raser's Symetron technologies apply to typical axial (cylindrical length greater than diameter), as well as pancake (cylindrical diameter greater than length) shaped motors. The Symetron advanced motor technology is useful for hybrid electric vehicle applications, where high torque is needed for vehicle launch assist, hill climb and rapid acceleration. The Company has developed and tested technology for both the motor and its controller. Acting in concert with its controller, the Symetron enhanced motor delivers improved continuous and intermittent or peak torque. The target applications for these motor systems are traction drive systems with high-continuous and intermittent peak torque requirements. Target markets include hybrid-electric bus and truck motors, delivery trucks, industrial traction, elevators, and compressor motors for HVAC applications. The Company offers pancake shaped AC induction motor. The target applications for the AC pancake design include traction drives, such as integrated transaxle assemblies, hub and direct drive fuel cell vehicles. Target markets include hybrid electric automobiles, trucks, industrial traction and some industrial applications. The Company is testing the application of advanced technology to alternators for automobiles, trucks, buses and other vehicles through a test demonstration program with a manufacturer of truck alternators. It is also investigating the application of its technology to ISA. The ISA is the combination of two devices, the starter motor and the alternator or generator designed for hybrid integration in a truck or automobile. Raser is applying its pancake AC induction motor technology together with its advanced alternator design to create an ISA. Raser is engaged in an ongoing process of researching, developing and demonstrating applications for its core technology innovations. These include the periodic introduction of motor and generator related technologies, application of its technologies to manufacturers' test applications, testing and performance evaluations of these technologies, and participation in design and engineering of related original equipment manufacturing (OEM) projects. It has demons