UQM Technologies, Inc. develops and manufactures energy-efficient, power-dense, electric motors, generators and power electronic controllers. UQM's primary focus is incorporating its technology into products aimed at existing commercial markets for electrically propelled vehicles, such as wheelchairs, golf carts, industrial utility vehicles, propulsion systems for clean electric, hybrid electric and fuel cell electric on-road and off-road vehicles and vehicle auxiliaries. Through January 22, 2004, the Company operated its business in three segments: technology, mechanical products and electronic products. On May 18, 2004, UQM completed the sale of the assets of its contract electronics manufacturing business. UQM's revenue from continuing operations is derived from two principal sources: funded contract research and development services performed for strategic partners, customers and the United States government, and the manufacture and sale of products engineered by the Company.