BELLEVUE, WA - (NewMediaWire) - November 04, 2015 - CoroWare, Inc. (OTC PINK: COWI) today announced that its Board of Directors has authorized a Stock Repurchase Program in order to repurchase up $0.5M of Its common shares of the Company's issued and outstanding common stock over a two year period.
Depending on market conditions, shares may be repurchased from time to time at prevailing market prices through open market or negotiated transactions.
CoroWare has engaged TriPoint Global Equities LLC as its agent to execute the Stock Repurchase Program.
Stock repurchases are intended to be conducted in compliance with the Rule 10b-18 safe harbor guidelines; and may be made at such times and in such amounts as the Company's management deems appropriate. Purchases under the program can be discontinued at any time management feels additional purchases are not warranted.
About Coroware, Inc.
CoroWare, Inc., headquartered in Bellevue, Washington, is a diversified technology and solutions company with expertise in:
- Business Consulting Services: R&D engineering services; business process workflow; software architecture, design and development; content management; console, PC and online game production; marketing coordination and management.
- Robotics and Automation: Custom engineering such as visualization, simulation and software development; and mobile robot platforms for university, government and corporate researchers
CoroWare's customers are located in North America, Europe, Asia and the Middle East, and span multiple industry sectors -- including universities, software and hardware product development companies, and non-profit organizations. For more information, please visit www.coroware.com.
This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that such forward-looking statements involve risks and uncertainties, which include among others, the inherent uncertainties associated with smaller reporting companies, including without limitation, other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.