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COREwafer Industries, Inc. (PINKSHEETS: WAFR), a holding company for the creator of 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, today announced that, following the direction of its new CEO, Cyril Moreau, it will be filing a Form 10 to up-list the company instead of the planned filing of a Form S-1.
This change comes on the heels of a new direction and a new day for COREwafer Industries and its shareholders. The Company has decided that in the best interest of its shareholders, it will become a fully reporting under the Securities Exchange Act of 1934, as amended, by filing a Form 10 instead of filing a registration statement on Form S-1, which could have a potentially dilutive effect.
The Company is pleased also to announce its newly formed strategic alliance with a consulting firm who will be spearheading the execution and filing of all documents necessary for the completion of the Form 10 filing, while working closely with the independent auditor completing the audit of the Company's financial statements.
About COREwafer Industries, Inc.
COREWAFER INDUSTRIES, INC. (WAFR) is a holding company headquartered in New York, NY, that currently oversees and manages two subsidiary companies across various industries. The goal of WAFR is to strategically acquire businesses with strong growth potential and a solid business plan in various industries including consumer goods, software and technology, and telecom.
CORE WAFER SYSTEMS, INC. (CWS), the wholly owned subsidiary of COREwafer Industries, Inc. (WAFR), Core Wafer Systems, Inc. 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 magnetic, semiconductor and nanotechnology-based device components. Core Wafer technology is capable of performing in-parallel measurements allowing customers to test components many times faster than a non-parallel process. CWS has an install base of over 800 clients and 1,500 installed systems on HP, Keithley, and Agilent Test hardware. For more information, visit www.corewaferindustries.com.
For more information, visit www.corewaferindustries.com or contact Teresa McWilliams, CFO at .
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.
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