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Raser Technology Reports 2005 Financial Results; Eventful Year Included Significant Progress in Product Development, Management Team Additions, National Exchange Listing and Intellectual Property Portfolio Enhancements.

Article Excerpt
PROVO, Utah -- Raser Technologies, Inc. (NYSE Arca:RZ) ("Raser"), an energy technology development and licensing company that advances electric motor, electronic motor drive, power generation and related technologies, today announced the filing of its annual report on form 10-KSB for the calendar year 2005 with the Securities and Exchange Commission. The document is available at www.sec.gov and may also be accessed through Raser's website, www.rasertech.com.

Revenue grew from $30,000 for the year ended 2004 to approximately $0.3 million for the year ended 2005. The increase in revenue is directly reflective of two government grants for development of Raser Symetron(TM)-enhanced solutions. Raser recorded a net loss applicable to common shareholders of approximately $14.6 million or $0.29 per fully diluted share in 2005 compared with a net loss applicable to common shareholders of approximately $11.3 million, or $0.24 per fully diluted share, in 2004. The 2005 loss represents increased investments in research and development, and higher administrative costs including fees paid to investment bankers. As of December 31, 2005, Raser had approximately $18.4 million in cash, restricted cash and short-term investments, and no long-term debt.

"Fiscal 2005 was an important year for Raser as we continued to gain traction in a number of industry segments with Raser Symetron," said Chief Executive Officer Brent M. Cook. "We have made meaningful forward strides during 2005 and into 2006 to capture the value of the Symetron(TM) portfolio of technologies and bring it...