Raser Technologies Selects Hein & Associates as Independent Accounting Firm.PROVO, Utah -- Raser Technologies Inc. (NYSE Arca For other uses of "ARCA", see ARCA. NYSE Arca, previously known as ArcaEx, an abbreviation of Archipelago Exchange, is an entirely online securities exchange on which both stocks and options are traded. : RZ)("Raser") today announced that the audit committee of the board of directors has approved the selection of Hein & Associates, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control to serve as the company's independent public accounting firm for the fiscal year ending Dec. 31, 2006. Hein & Associates, with offices in California, Texas and Colorado, replaces Tanner The code name for the Xeon version of the Pentium III chip. See Xeon. , LLC of Salt Lake City. "We are very pleased to engage Hein & Associates as Raser begins to deepen deep·en tr. & intr.v. deep·ened, deep·en·ing, deep·ens To make or become deep or deeper. deepen Verb to make or become deeper or more intense Verb 1. its involvement in the power generation industry," said Reynold Roeder, chairman of Raser's audit committee. "With the addition of the recently acquired heat transfer technologies to our Symetron(TM) portfolio, Raser is well positioned to form partnerships and alliances on multiple power generation projects. Hein's expertise in this area and staff of more than 20 partners and principals will be invaluable to both the committee and management." "We are also grateful to Tanner, LLC for their fine service to Raser. We're ending the relationship free of any disagreements, and we appreciate their fiduciary fiduciary (fĭd  `shēĕ'rē), in law, a person who is obliged to discharge faithfully a responsibility of trust toward another. stance in recommending that Raser's growth path called for new capabilities," added Roeder. About Raser Technologies Formed in 2003, Raser believes that its pending patents and proprietary intellectual property cover breakthrough technologies. Raser's Symetron(TM) technologies more efficiently harness electrical energy in electric motor, controller, alternator alternator: see generator. alternator Source of direct electric current in modern vehicles for ignition, lights, fans, and other uses. The electric power is generated by an alternator mechanically coupled to the engine, with a rotor field coil and generator technologies. Application of Symetron(TM) generally requires minor changes to existing products, but yields significant increases in power, performance and efficiency without the use of exotic materials. Further information on Raser may be found at: www.rasertech.com. Cautionary Note Regarding Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including, but not limited to, the results of Raser's efforts in the geothermal ge·o·ther·mal also ge·o·ther·mic adj. Of or relating to the internal heat of the earth. ge and waste heat recovery electrical power production area; the future growth of the geothermal and waste heat recovery electrical power production market; Raser's beliefs about its ability to exploit the heat transfer license to enter the geothermal and waste heat recovery electrical power production market; Raser's ability to execute on its strategic direction in this area, including its ability to secure strategic alliances with financial and operating partners that are necessary for such execution; and Raser's belief that the combined Symetron(TM) and heat transfer technology portfolios are well-situated to help meet the growing demand for clean energy from non-hydro renewable sources. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the economic and competitive environment of the geothermal and waste heat recovery electrical power production area and the overall power generation industry; Raser's inability to obtain strategic partners in the geothermal and waste heat area, including financial partners, who would provide funding for development activities using the licensed technology, and operational partners, who would implement the licensed technology at geothermal and waste heat power plants -- Raser currently has no such partners and if it is unable to secure arrangements with them on acceptable terms or at all, Raser's ability to compete in the power generation industry would be seriously compromised; and such other risks as identified in Raser's quarterly report on Form 10-Q Form 10-Q See 10-Q. for the quarter ended June 30, 2006, as filed with the Securities and Exchange Commission, and all subsequent filings, which contain and identify important factors that could cause the actual results to differ from those contained in forward-looking statements. All forward-looking statements in this press release are based on information available to us as of the date hereof here·of adv. Of this. hereof Adverb Formal or law of or concerning this Adv. 1. hereof - of or concerning this; "the twigs hereof are physic" , and we undertake no obligation to update forward-looking statements to reflect events or circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or occurring after the date of this press release. |
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