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1. Description of business
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12 Months Ended | ||
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Dec. 31, 2011
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| Business Description and Accounting Policies [Text Block] |
Description
of business
Save
The World Air, Inc. (“STWA”,
“Company”) was incorporated on February 18,
1998, as a Nevada Corporation under the name Mandalay
Capital Corporation. The company changed its name to Save
the World Air, Inc. on February 11, 1999, following the
acquisition of the marketing and manufacturing rights of
the ZEFS technologies. Our executive offices are at 735
State Street, Suite 500, Santa Barbara, California 93101.
The telephone number is (805) 845-3561. Our research and
development facility is at 235 Tennant Avenue, Morgan Hill,
California 95037. The telephone number is (408) 778-0101.
The Company’s common stock is quoted under the symbol
“ZERO” on the Over-the-Counter Bulletin Board.
More information including the Company’s fact sheet,
logos and media articles are available at our corporate
website, www.stwa.com.
The
Company develops and commercializes energy efficiency
technologies that assist in meeting the increasing
global energy demands, improving the economics of oil
extraction and transport, and reducing greenhouse gas
emissions. The Company’s intellectual property
portfolio includes 24 domestic and international patents
and patents pending, which have been developed in
conjunction with and exclusively licensed from Temple
University. The Company’s technology has two
commercial applications; Applied Oil Technology (AOT) and
ELEKTRA™ and legacy technologies of ZEFS and MK IV.
The AOT and ELEKTRA are technologies, which use electric
fields to alter some physical properties of petrochemical
fluids to reduce viscosity of the fluids.
Our
AOT technology is designed to allow pipeline operators to
temporarily reduce the viscosity of the crude oil within
their pipeline(s) to reduce the fluid-drag (also known as
friction-loss) between the fluid and the pipeline. By
reducing the friction loss, pipeline operators’ pump
systems require less energy to maintain a constant flow
rate, thereby directly reducing daily operation costs. AOT
has been proven in U.S. Department of Energy tests to
increase the energy efficiency of oil pipeline pump
stations by over 13%. We intend to market our AOT products
primarily to pipeline operators as well as to pilot and
government mandated delivery programs.
Our
ELEKTRA products are intended to increase fuel efficiency
and reduce emissions. ELEKTRA Will be marketed primarily to
specialty consumer accessories market for many types of
diesel-fueled vehicles, including but not limited to
trucks, trains, maritime, military and
aviation.
Consolidation
policy
The
accompanying consolidated financial statements of Save the
World Air, Inc. and Subsidiary include the accounts of Save
the World Air, Inc. (the Parent) and its wholly owned
subsidiary STWA Asia Pte. Limited, incorporated on January
17, 2006. Intercompany transactions and balances
have been eliminated in consolidation.
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