Seems to be a new product, or soon to be anyhow (its on kickstarter right now). Its a textile based bike lock to compete against traditional cables and chains. Based on the few years I worked at a shop I can tell you cable locks, even nice ones, are easy EASY to defeat with the proper cutters (small cutters, too!). Anybody heard of this Litelock? Looks very promising but I'd love to see some third party use/abuse testing before I commit!
Youtube Video of Litelock
Youtube Video of Litelock