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“We cannot guarantee if, when or to what extent we will become profitable, or that we can maintain profitability if it is achieved,” IdleAire reported in its third-quarter statement.“Our stock is a highly speculative investment.”

Since its founding in 2000, IdleAire rapidly has built by far the nation’s largest electrified-parking network, with 138 sites in 35 states, three-fourths of them in the TravelCenters of America chain (which since May 2007 includes all Petro locations). Besides electrical power, IdleAire hookups provide an Internet connection, satellite television and long-distance phone calls.

The company’s network, however,“has not yet achieved widespread market acceptance,” IdleAire reported in November 2007, telling the SEC it would need “substantial additional funds” to continue its expansion and fund 2008 operations. The company subsequently announced Jan. 31 that it would cut 40 jobs.

The typical IdleAire site costs $1 million for 65 electrified parking spaces, or $15,000 per space, according to SEC filings. So far, those costs have been subsidized by states, local governments and truck stops. From the company’s inception in 2000 through Sept. 30, 2007, IdleAire previously reported, it was awarded $55.6 million in government grants.