ATWEC Technologies Achieves 'Pink Current Information' Status

ATWEC Technologies Achieves ‘Pink Current Information’ Status Board of Directors unveils Plan of Operations at July 2019 Annual Meeting

Memphis, TN, July 29, 2019 (NEWSWIRE via COMTEX) – ATWEC Technologies, Inc. (OTC Markets: ‘ATWT’), a US-based company specializing in child safety and protection technologies, today announced several new business initiatives, established at its Annual Board of Directors Meeting, held on July 16.

The Board unanimously agreed to elect current Director Darnell Stitts as the Company’s interim-CFO, while the Company works to strengthen its accounting and finance in anticipation of filing a registration statement by year-end 2019.

Mr. Stitts has been an ATWT investor and minority shareholder since 2015, pushing the Company to obtain the funding necessary to complete active compliance. ATWT attained ‘Pink Current Information’ status on July 12.

The Company also approved its Plan of Operations for 2019 3Q and 4Q, with primary focus areas being growth by acquisition, improved business model with cutting-edge products and services, and short-term financing, for eliminating debt and obtaining working capital for immediate expansion.

Alex Wiley, inventor of the patented Kiddie VoiceTM system and the Company’s largest shareholder, retains his key role as Chairman. “We’ve worked hard since 2016, and spent the last two years identifying the right business model, one that will utilize new technologies to make children safer, and give parents ‘peace-of-mind’. We plan to complete several pilot programs in August, heading into the new school year. Excitement couldn’t be greater right now.”

Both Stitts and Wiley have helped the Company to identify potential acquisition target companies in the Education and Transportation sectors, as the Company looks to expand resources, operations, and revenues through ‘growth by acquisition’ in 3Q 2019. The Company feels that it can attract a solid merger candidate through the offer of common stock and/or cash.

The Board also approved the Company commencing a financing that will both 1) eliminate existing liabilities and 2) provide short- and long-term financing for the

Company to grow the business through 2021. The Company has been negotiating with various capital firms since May, and the Board anticipates reaching agreement on one or more pivotal funding transactions in August 2019.

Stitts stated, “The Company is poised for breakout sales and profits, and getting current has just accelerated everything. With children dying in hot cars, and potential danger seemingly around every corner, we feel confident that our broad child safety initiative will protect and enrich the lives of not only the young students, but also the drivers, administrators, and parents.”

Shareholders and other investors can find the information related to the Company’s recent disclosure filings on the OTC Markets website under the symbol “ATWT”, as well as 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. (“ATWT”):

ATWEC Technologies, Inc. is a technology company providing child safety and protection services, headquartered in Memphis, and has been doing business since 1979. ATWT has developed unique vehicle safety devices which protect children while being transported to and from schools, homes and special events. 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 OTC Markets under the symbol “ATWT”, and the Company’s website is www.atwec.com.

CONTACT: ATWEC Technologies, Inc. Darnell Stitts, Secretary & Director info@atwec.com; gerome41@gmail.com (901) 289-2621

SUBJECT CODES: Wholesale – Durable Goods, Motor Vehicle Supplies and New Parts. Electronic and other Electrical Equipment. Motor Vehicle Parts and Accessories.

Atwec Technologies (PK) (USOTC:ATWT)
Historical Stock Chart
From Mar 2024 to Apr 2024