MEMPHIS, Tenn., Jan. 22, 2013 /PRNewswire/ -- ATWEC Technologies, Inc. (OTC Markets: ATWT), a US-based child safety company, today announced that it has hired an Atlanta-based CPA firm to complete an audit on the Company's financial condition during first quarter 2013.
The move will enable the Company to become fully reporting by making appropriate filings with the Securities and Exchange Commission, once the audit has been completed. The Company is currently reviewing several law firm candidates in order to hire legal counsel for this purpose. Once the Company becomes fully reporting, they will then be eligible to trade on the OTCBB or other exchange.
"We have been discussing this move for a long time, and now we have finally taken the first step to becoming fully reporting," said the Company's CEO Alex Wiley. "As our business is expanding, we will need to step up our reporting and disclosure, and this increased transparency will lead to more opportunities for ATWEC."
The Company anticipates that the move will lead to increased sales and marketing exposure, which in turn could lead to greater financing and acquisition opportunities with larger and more established firms.
The Company signed the engagement letter with W.T. Uniack & Co. CPA's, P.C. late last week. Terms of the deal were not disclosed. The certified public accounting firm is licensed in Georgia and Ohio, and has two locations in Georgia. The firm will also provide the Company with review fees on a quarterly basis.
Shareholders and other investors can find information on this engagement, along with the Company's Kiddie Systems™ 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. 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
SOURCE ATWEC Technologies, Inc.