KIRKLAND, WA - October 21, 2013 - CoroWare, Inc. (OTCQB: COWI) announced today that the Depository Trust Company (DTC), has lifted the "Deposit Chill" on the Company's stock effective September 26, 2013, and has resumed accepting deposits of CoroWare's common stock for book entry transfer services. All deposit restrictions have been removed, and the Company is now once again fully "DTC Eligible", and has resumed electronic trading of the Company's common stock.
"We are very pleased about the approval to lift the Deposit Chill by the DTC. The restoration of our DTC Eligibility was a great accomplishment by our management team and SEC counsel, who have been persistent in working with the DTC to lift the Chill since it was imposed on August 12, 2012," said Lloyd Spencer, CEO of CoroWare. "We believe the removal of the DTC Chill should improve the liquidity of our stock and increase the number of shareholders who want to purchase our stock."
The Company's shareholders will benefit from the additional choices available to them as a result of this action. The Company suffered a material contraction in its market capitalization during the period of the DTC Chill.
Headquartered in Kirkland, Washington, CoroWare is a solutions integrator with expertise in affordable and open mobile robotics and enterprise data analytics.
CoroWare is recognized as an innovative mobile robotics solutions integrator in the research community because of its expertise in Robot Operating System (ROS), robotics simulation, and robotics application development. CoroWare's CoroBot product line has been shipped to over 90 corporate and academic researchers in over 25 countries worldwide.
For more information on CoroWare and its products and services, please visit www.coroware.com.
Safe Harbor Statement: This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act") (http://www.sec.gov/about/laws/sea34.pdf (Sec.21E p. 223). In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act, and are subject to the safe harbor created by the Act. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. Forward looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to be materially different from any future performance that may be suggested in this release. CoroWare takes no obligation to update or correct forward-looking statements, and also takes no obligation to update or correct information prepared by third parties. The names of actual companies and products mentioned herein may be the trademarks of their respective owners.
Investor Relations Contact:
(800) 641-2676, option 3
SOURCE: CoroWare, Inc.