ATWEC Technologies Seeks Equity Investment ATWEC Elects to Pursue Financing in 2012
MEMPHIS, Tenn., June 26, 2012 /PRNewswire/ -- ATWEC Technologies, Inc. (OTC Markets: ATWT), a US-based child safety company, today announced that it will seek equity financing in July 2012, in order to meet the demand for its Kiddie Voice™ alarm systems and for additional working capital.
Alex T. Wiley, (President/CEO) of ATWEC Technologies, stated, "ATWEC is interested in growing its business now. With the changes in legislation about to take place in Florida and Georgia, the demand for our products is peaking this year. And banks are simply not going to lend us the money that we need to grow the Company according to our blueprint, and meet this growing demand. We are going to take advantage of being public and raise the money from new investors, and thus increase shareholder value through the end of the year."
The Company identified the need for an initial capital infusion of US$500,000, which would be used for marketing, advertising, Kiddie Voice™ system inventory, and other costs associated with corporate compliance and audit. The actual Board of Directors Resolution and Use of Proceeds list can be found on the Company's website home page, www.atwec.com.
Shareholders and other investors can find the disclosure posted on the OTC Markets website, under the stock symbol "ATWT".
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. (www.atwec.com) 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.