ATWEC Technologies, Inc. (OTC Markets: ATWT), a leader in the child safety industry, today announced that it has completed a significant corporate restructuring, thereby allowing the Company to have easier access to investment capital in 2013.
On February 19, 2013, the Company's Board of Directors unanimously voted to initiate a 1000 to 1 reverse split of its outstanding common shares, while simultaneously reducing its authorized common shares to 500,000,000 shares.
ATWEC, "Around the World Educating Children", has increased its efforts to promote safety for children being transported to school. The Company's Kiddie Voice system is unique and patented, and provides a total child safety solution for delivery vehicles. The Company is seeking investment capital in order to expand its sales and marketing, for product inventory, for new product development, and for mergers and acquisitions in 2013.
The Company completed all required filings for the restructuring in the state of Nevada on February 26, including its Certificate of Amendment. The Company received its new corporate CUSIP number on March 14, and received final approval and authorization of the reverse split from FINRA on April 10. The new listing appeared on the market open on April 11.
The Company's issued and outstanding common shares were actually reversed back on June 18, with the Depository Trust Company approving the company and "swinging" the issue. All shareholders should receive a letter of transmittal from the Company via US mail, with instructions and contact information for receiving their new share certificates.
Safe Harbor Statement
This release contains "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, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected".
You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in the Company's disclosure information.
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About ATWEC Technologies, Inc.:
ATWEC Technologies, Inc. is a child safety and security company, headquartered in Memphis, TN, and has been doing business since 1979. ATWT has developed unique child safety devices which protect children while they are being transported, both to and from schools, events, and homes. ATWT has been issued patent number 7,646,288,B2 by the US patent office, and its business model is associated with legislation designed to mandate these systems for school and other vehicles, on a state-by-state basis. The Company trades on the Pink-OTC Markets under the symbol "ATWT", and the Company's website is www.atwec.com.
ATWEC Technologies, Inc.
Alex T. Wiley, CEO