|By Business Wire||
|August 22, 2014 01:49 PM EDT||
COREwafer Industries, Inc. (Pink Sheets: WAFR) a holding company whose wholly owned subsidiary, Core Wafer Systems, Inc. (“CWS”) the creator of proprietary software with installations worldwide, today announced that the Company intends to file its Form 10 submission early next week. This milestone comes on the heels of COREwafer Industries, Inc. management making drastic changes and advancements in its business plan, consolidation of its debts and expansion into the Social Media sector.
"It is exciting to take these last steps toward being a fully-reporting company and we believe this uplisting will enhance investor accessibility and serve as a stepping stone to listing COREwafer on a national exchange,” said Teresa McWilliams, Chief Financial Officer of COREwafer. “We have put a lot of effort into improving the accounting, reporting and internal controls at COREwafer and are excited to be able to provide timely, accurate financial information to shareholders and prospective investors."
"The process of moving from the Pink Sheets and into full SEC compliance has been costly and time consuming but was, in our opinion, one of the best things we could do for our company and its shareholders," said Cyril Moreau, Chief Executive Officer of COREwafer Industries, Inc. "I believe this considerable effort will better position the company for the future and open WAFR to a new community of prospective shareholders who would not have considered us on the lower exchange."
About COREwafer Industries
COREWAFER INDUSTRIES, INC. (WAFR) is a holding company headquartered in Hollywood, FL, that currently operates and manages two subsidiary companies. The goal of WAFR is to strategically acquire businesses with strong growth potential and a solid business plan in the software and technology industries. For information, visit www.corewaferindustries.com.
CORE WAFER SYSTEMS, INC. (CWS), the wholly owned subsidiary and Flagship Company of COREwafer Industries, Inc. (WAFR), creates proprietary software, software algorithms, and hardware that is used in the testing and data mining of the most commonly used computer hard drives, memory, and magnetics; as well as other advanced magnetics, semiconductor and nanotechnology-based device components. For more information, visit www.corewafer.com.
This release may contain "forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, as amended, and of Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief, or current expectations of COREwafer Industries, Inc. and members of its management, as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include fluctuation of operating results, the ability to compete successfully in its market segment, and the ability to complete some or all of the before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events, or changes to future operating results.
COREwafer Industries, Inc.
Teresa McWilliams, Chief Financial Officer
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