Company Plans to File Registration Statement to Become Fully Reporting
MEMPHIS, TN, September 10, 2013 - (ACCESSWIRE) - ATWEC Technologies, Inc. (OTC Pink: ATWT), a leader in the child safety industry, today announced that its auditor has completed the financial audit for the Company's 2011 and 2012 fiscal years, ending December 31.
Although the Company has been trading its stock on the OTC Markets under the "Current Information" tier since November 2011, having provided current and adequate financial statements and corporate reports on a quarterly and annual basis, these statements have been prepared by the Company and unaudited.
The Company changed auditors in July of this year, retaining Michael Thompson CPA, a certified public accounting firm located in Jackson, MS. The firm has worked on the audit and corresponding disclosures for several weeks, completing the audit today, although the actual release date was not yet disclosed.
With the audited financial statements, the Company can now file to become fully reporting, and the Board of Directors has elected to file a Form 10 registration statement under the Exchange Act, which automatically goes effective 60 days after the filing with the Securities and Exchange Commission.
The Company hopes that the move will lead to immediate equity financing in order to meet the Company's manufacturing costs and other working capital needs as it increases sales of its Kiddie Systems(TM) child safety units to several states.
The Company also announced that it has hired legal counsel in order to complete the securities filings and help meet its ongoing reporting obligations. Once the Company becomes fully reporting, it will then be eligible to trade on the OTCBB or other securities exchange.
Shareholders and other investors can find the audited financial statements, along with the Company's Kiddie Systems(TM) products and services, on the Company's website home page, www.atwec.com.
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.
All company or product names used are the property of their respective owners and may be the trade marks (TM), service marks (SM), or registered marks (R) of other companies, and are used for information purposes only and to their owners' benefit, without intent to infringe.
About ATWEC Technologies, Inc.:
ATWEC Technologies, Inc. provides child safety and security services, 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
SOURCE: ATWEC Technologies, Inc.
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