Aziz Ahmad - Mr. Ahmad is currently the CEO of UTC Associates, as well as the CEO and co--founder of Vonair. Mr. Ahmad is a board member of Grameen Solutions, Grameen IT Park in Bangladesh. Mr. Ahmad was the recipient of First Asian Distinguished Alumni award of City University of New York. Previously, Aziz was the lead architect of AT&T's VoIP networks.
Martin Jensen - Mr. Jensen is currently the owner of a private equity firm. He also acts as a board member at the Danish American Chamber of Commerce and holds a senior--level position within a large telecommunications company.
Greg Miller - Mr. Miller is currently the Sales and Business Manager for Core Wafer Systems, a leader in semiconductor and disc drive manufacturing solutions. Greg was previously a Service and Consulting Manager with Agilent Technologies where he was responsible for technical evaluations, pre--sales, and leading project management for complex projects. He also was a Senior Level Engineer within the Marketing, Research & Development, and Corporate IT departments within Hewlec Packard. INCORPORATION DETAILS COREWAFER INDUSTRIES AND ACTION PRODUCTS INTERNATIONAL Corewafer Industries, Inc. (Nevada) DEFAULT - Expiration Date: 4/30/13 http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=xTm7qY7HlPXs5CzG%252b4xk7A%253d%253d&nt7=0 formerly: Action Products International (Florida) INACT/MG http://search.sunbiz.org/Inquiry/CorporationSearch/SearchResultDetail/EntityName/domp-f13942-a0c43e13-526f-4a85-a9f6-a8d839050300/action%20products%20international/Page1 SUBSIDIARIES Action Products International (New York) INACTIVE - Merged Out: January 18, 2013 http://appext9.dos.ny.gov/corp_public/CORPSEARCH.ENTITY_INFORMATION?p_nameid=4122954&p_corpid=4121668&p_entity_name=action%20products%20international&p_name_type=%25&p_search_type=BEGINS&p_srch_results_page=0 Core Wafer Systems (Nevada) ACTIVE, Expiration Date 9/30/13 http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=mPNtocezN2IgrUdgxQeKkA%253d%253d&nt7=0 North East Expedite Logistics
(NEEL has known registrations in three states)
New York - ACTIVE http://appext9.dos.ny.gov/corp_public/CORPSEARCH.ENTITY_INFORMATION?p_nameid=3214222&p_corpid=3197436&p_entity_name=NORTHEAST%20EXPEDITE%20LOGISTICS&p_name_type=%25&p_search_type=BEGINS&p_srch_results_page=0
New Jersey - STATUS UNKNOWN https://www.njportal.com/DOR/businessrecords/EntityDocs/BusinessStatCopies.aspx
Delaware - STATUS UNKNOWN - No link to page; new search is required. https://delecorp.delaware.gov/tin/GINameSearch.jsp NEX Global USA (Florida) - ACTIVE
APII (FLorida) is named as a Managing Member, although NEX Global USA has never been mentioned elsewhere by WAFR http://search.sunbiz.org/Inquiry/CorporationSearch/SearchResultDetail/EntityName/flal-l12000007890-0c1e6ec5-307f-4d90-a460-df7aed6b1dd7/nex%20global%20usa/Page1 ADDITIONAL INFORMATION ABOUT NORTHEAST EXPEDITE LOGISTICS AND NEX GLOBAL USA
Northeast Expedite Logistics is NOT AUTHORIZED by the DOT: http://safer.fmcsa.dot.gov/query.asp?searchtype=ANY&query_type=queryCarrierSnapshot&query_param=USDOT&query_string=1754957
Nex Global USA was mentioned here in connection to Northeast Expedite Logistics: http://www.classadrivers.com/forum/owner-operators-forums/43108-northeast-expedite-logistics-nex-global-usa-needs-part-time-o-o-w-trailer-md.html
NEX Global USA is OUT-OF-SERVICE by the DOT: http://safer.fmcsa.dot.gov/query.asp?searchtype=ANY&query_type=queryCarrierSnapshot&query_param=USDOT&query_string=2265411&Go.x=13&Go.y=8 ADDITIONAL INFORMATION ABOUT CORE WAFER SYSTEMS Core Wafer Systems v. Sandia, et al
This lawsuit was filed by Core Wafer Systems in 2010 and settled by the parties in July, 2012. The settlement was confidential. However, COREwafer Industries disclosed the terms of the settlement here on page 7: http://www.otcmarkets.com/financialReportViewer?symbol=WAFR&id=95495
Core Wafer Systems defaulted on the payment required by the settlement. Sandia Technologies filed a motion to enforce the settlement. By court order, Core Wafer Systems has until May 25, 2013 to pay the monies agreed upon in the settlement agreement. The ORDER GRANTING DEFENDANT''S MOTION TO ENFORCE SETTLEMENT AGREEMENT
can be viewed here: https://docs.google.com/file/d/0B_jEf9lG2RZMQVFPdnhKYlBsTEE/edit?usp=sharing
Some of the earlier court filings are available here: https://drive.google.com/folderview?id=0B_jEf9lG2RZMRlpFSDREeDI3Nmc&usp=sharing APII and WAFR PRESS RELEASES
December 2011 through May 2013 December 21, 2011 Action Products Announces Acquisition of North East Expedite Logistics http://www.bloomberg.com/article/2011-12-21/afBNZ5TTp34M.html December 27, 2011 Action Products Welcomes Two New Board Members: Martin Jensen and Greg Miller http://www.prnewswire.com/news-releases/action-products-welcomes-two-new-board-members-martin-jensen-and-greg-miller-136268103.html Jan 4, 2012 Action Products International Announces Acquisition of Core Wafer Systems, Inc. http://www.bloomberg.com/apps/news?pid=conewsstory&tkr=TXN:US&sid=aC7OvfIlyIK0 January 5, 2012 Action Products International (APII) Acquires Company in $35 Billion Market http://www.marketwire.com/press-release/action-products-international-apii-acquires-company-in-35-billion-market-pinksheets-apii-1603710.htm January 6, 2012 Core Wafer Systems, Inc. with Action Products International, Inc. Announces $4M in Contracts http://www.prnewswire.com/news-releases/core-wafer-systems-inc-with-action-products-international-inc--announces-4m-in-contracts-136801633.html January 24, 2012 Core Wafer Systems Adding Millions More in Contracts with Upgrade to PDQ-WLR Product Line http://www.prnewswire.com/news-releases/core-wafer-systems-adding-millions-more-in-contracts-with-upgrade-to-pdq-wlr-product-line-137954638.html February 7, 2012 Core Wafer Systems Adds Third Revenue Stream with Third-Party Alliance http://www.bloomberg.com/article/2012-02-07/aUOjmjY_T1b8.html May 10, 2012 Action Products International, Inc. Secures $10M Financing http://www.marketwire.com/press-release/action-products-international-inc-secures-10m-financing-pinksheets-apii-1655559.htm May 25, 2012 COREwafer Industries, Inc. Completes Name Change From Action Products International, Inc. http://www.marketwire.com/press-release/corewafer-industries-inc-completes-name-change-from-action-products-international-inc-pinksheets-wafr-1661804.htm May 30, 2012 WAFR Announces Q1 2012 Financials and Plans for Increase in NEEL Operations http://www.marketwire.com/press-release/wafr-announces-q1-2012-financials-and-plans-for-increase-in-neel-operations-pinksheets-wafr-1662986.htm June 12, 2012 COREwafer Industries Delivers Critical Real-World Test Capabilities to Chinese Manufacturer http://www.prnewswire.com/news-releases/corewafer-industries-delivers-critical-real-world-test-capabilities-to-chinese-manufacturer-158557975.html September 21, 2012 Core Wafer Systems Finalizes Settlement With Sandia Technologies And Updates On Merger Into COREwafer Industries, Inc. http://www.prnewswire.com/news-releases/core-wafer-systems-finalizes-settlement-with-sandia-technologies-and-completes-merger-into-wafr-170676026.html October 1, 2012 COREwafer appoints auditor, taking next step toward $10M funding http://www.bloomberg.com/article/2012-10-01/a0al02wwRJE4.html October 25, 2012 COREwafer Industries, Inc. Paperwork Delivered for Merger with Core Wafer Systems, Inc. http://www.prnewswire.com/news-releases/corewafer-industries-inc-paperwork-delivered-for-merger-with-core-wafer-systems-inc-175770941.html Feb 22, 2013 COREwafer Industries, Inc. 2012 Results and CEO Update http://www.marketwire.com/press-release/corewafer-industries-inc-2012-results-and-ceo-update-pinksheets-wafr-1760176.htm March 27, 2013 COREwafer Industries, Inc. Announces Stock Dividend http://www.marketwire.com/press-release/corewafer-industries-inc-announces-stock-dividend-pinksheets-wafr-1772570.htm April 11, 2013 COREwafer Industries, Inc. Reminder Regarding Stock Dividend http://www.otcmarkets.com/stock/WAFR/news/COREwafer-Industries--Inc--Reminder-Regarding-Stock-Dividend?id=61366&b=y May 2, 2013 COREwafer Industries, Inc. Announces Change to Stock Dividend http://www.otcmarkets.com/stock/WAFR/news/COREwafer-Industries--Inc--Announces-Change-to-Stock-Dividend?id=62233&b=y OTCMARKET DISCLOSURES March 13, 2012 Initial Company Information and Disclosure Statement http://www.otcmarkets.com/financialReportViewer?symbol=WAFR&id=74768 April 19, 2012 MERGER AGREEMENT http://www.otcmarkets.com/financialReportViewer?symbol=WAFR&id=78810 May 4, 2012 RESERVE EQUITY FINANCING AGREEMENT http://www.otcmarkets.com/financialReportViewer?symbol=WAFR&id=80465 November 9, 2012 REG A RESERVE EQUITY FINANCING AGREEMENT http://www.otcmarkets.com/financialReportViewer?symbol=WAFR&id=94067 November 20, 2012 Amendment to Merger Agreement http://www.otcmarkets.com/financialReportViewer?symbol=WAFR&id=95022 November 26, 2012 WAFR/CWS NY NV CERTIFICATES OF MERGER AND DELIVERY CONFIRMATION http://www.otcmarkets.com/financialReportViewer?symbol=WAFR&id=95395 November 28, 2012 MANAGEMENT DISCUSSION & UPDATE http://www.otcmarkets.com/financialReportViewer?symbol=WAFR&id=95495 December 19, 2012 MANAGEMENT DISCUSSION & UPDATE http://www.otcmarkets.com/financialReportViewer?symbol=WAFR&id=97034 FACEBOOK DISCLOSURES https://www.facebook.com/corewafer Facebook, May 11, 2013 COMPANY LETTER TO SHAREHOLDERS: Dear Shareholders:
The purpose of this letter is to bring you up to date on what has been happening with the WAFR wholly owned subsidiary, Core Wafer Systems, Inc. (CWS) and what CWS is currently working on.
Last fiscal year was a slow time for CWS. Management was working to get customer approval from a major customer for the ARES Bar Tester. While this was being built, CWS directed most of its resources to that endeavor. Because management’s primary focus was customer satisfaction, and making sure that we could count on this customer for future business, we fell short on our projections for software sales.
However, late last year and into the 1st quarter of 2013, CWS has newly generated software sales in excess of $100,000 and an additional $400,000 in sales quotes as of March 31st. Some of these quotes are for orders that we can fill immediately and some are contingent upon our finalization of the Windows 7 / 8 PDQ-WLR and SDR update releases. We have a developer working exclusively on this release and believe the release will be market ready in about six months which includes programming and testing. Our target date to begin shipping this product is November 2013.
As many of you may be aware, Microsoft will no longer be supporting older versions of its operating systems in 2014; therefore, our immediate attention is directed at getting our Windows 7 / 8 releases out to customers. With our target upgrade price we expect to generate over $20,000,000 in sales, for this product alone, over the next few years as customers make the necessary operating system upgrades.
We already have dozens of inquiries from existing customers expressing their interest in purchasing the upgrade software from us as soon as it is available. To date we have not committed to a release date pending completion of the upgrade.
With increased funding, either from investors or sales of this new release, we anticipate bringing many other software developments to market. These new releases will modernize our reliability software to be more user-friendly and more flexible as we contend with smaller and faster chips being manufactured.
All in all, CWS continues to be a market leader in the area of reliability tester software. Facebook, February 17, 2013 COREWAFER INDUSTRIES, INC. (WAFR) Results of Operations for the Year Ended December 31, 2012
Total revenues for the year ended December 31, 2012 were $659,350 as compared to $712,231 for the year ended December 31, 2011.
The Company reported a net loss for the year ended December 31, 2012 of $2.3 million. This was an increase of approximately $1.6 million when compared to a net loss of $651,000, for the year ended December 31, 2011. The increase in net loss is primarily attributable legal, professional, and consulting fees in the approximate amount of $935,000; Board compensation in the amount of approximately $322,000; payroll of approximately $796,000; fees of approximately $500,000 associated with the cost to acquire financing commitments; and approximately $419,000 in depreciation and loss on disposal of assets.
Current assets at December 31, 2012 were $713,261 compared to $346,867 for the year ended December 31, 2011 and total assets increased to $14,213,921; an overall increase of $13.3 million for the year ended December 31, 2011. There was an increase in shareholders’ equity of approximately $8 million for the year. The increase in assets and shareholders’ equity is primarily attributable to the acquisition of Core Wafer Systems, Inc., a wholly owned subsidiary.
Open sales orders of $315,000 are expected to be invoiced and collected by the end of the first quarter of 2013.
With the funding from Regulation 1A coming, our projected revenue from the new software from CWS is $108M over the next 3-5 years with roughly 50% profit margin. With this funding CWS has the potential to do $10-12M in gross profit, which translates to roughly $8-10M in net profits with current overhead from operations. Facebook, December 12, 2012 About Core Wafer Systems, Inc. (CWS) - Who are our customers? Our customers are generally chip / semi-conductor manufacturers.
What is our target customer? Our target customer is any business that manufactures semi-conductors or needs to test electronic reliability. We are looking for customers that manufacture chips and need to test them for reliability.
What is our product exactly? Our product is reliability test equipment software.
What does it do exactly? The software is designed to run various testers manufactured by two major manufacturers. It actually controls the tester, analyzes the data and prints out reliability test results. The engineers review the data and determine if the chips conform to reliability requirements. These chips are put through a myriad of tests including, in some cases, baking the chip and freezing it as well in an effort to cause the chip to fail to determine if it is marketable. If you think about it in these terms, the semi-conductor might be used in your cell phone and exposed to heat sitting in your car or cold when you are outside in the winter. In an extreme case, the chip might be used in a Satellite or other aerospace uses that are subjected to extreme temperatures and all along the chip is expected to function properly. Our software analyzes the ability of the chip to be able to work in these types of conditions and if the chip is determined to be unsuitable, the customer is aware of the failure before they sell it to their customers.
How does it benefit the customer? Our software benefits the customer by giving them the confidence that their product will perform in the electronic equipment they are installed in with reasonable life expectations. We all know that eventually electronic components will wear out and have to be replaced. Our testing will help the customer to determine whether or not their ship will perform under acceptable standards. If they don’t, businesses have failed because their electronic equipment did not meet market expectations and they had to replace equipment at the cost of replacement as well as the loss of consumer confidence.
Is it better than our competition? We believe our product is superior to that of the competition. Our software is running many testers worldwide. In fact, the best our competitor can do is to try and emulate our software to get similar reports and test routines.
Who is our competition? Our main competitor is a company within the Asian market.
How many employees and consultants are there? Currently, Core Wafer Systems has one software developer located in Albuquerque, NM working as a sub contractor; one Sales professional under contract whose customer knowledge and familiarity with our products will be key in developing our sales force as our new product releases are brought to market; and the chief of operations who is currently on deferred salary.
Where are the employees working from? Currently, the operations chief is working in Waseca, MN; the sales professional is operating out of his home in Golden Colorado, and the software developer is located in Albuquerque, NM. We have other professionals available to assist in the software development effort located in CA as well whom will be engaged after we are funded. THE FOLLOWING INFORMATION HAS BEEN RETAINED FROM THE PREVIOUS VERSION OF THIS IBOX:
"CWS has a Recognized, unique industry solution with patent pending intellectual property valued in excess of $50M that brings future--proofing to the reliability marketplace."
"CWS only competitor Integral Solutions International has lagged behind in the market and is dropping 30% market share annually due to outdated technology and lack of ability to scale to meet new customer demands. As an example of the importance of CWS conforming with the times, using the products of "ISI" compared to that of CWS would be like using "MS--DOS" for computers compared to LINUX or WINDOWS."
"According to Gartner Research, the top electronic equipment manufacturers accounted for at least 35 percent of semiconductor vendor revenue worldwide, or $105.6 billion -- an increase of $1.8 billion, or 1.8 percent from 2010. With an increase in semiconductor sales, an increase in the need for testing and reliability could follow.....Unreal Numbers!!!" Revenue Projections from an original document: