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NT 10-Q 1 corowareform12b25.htm PERIOD ENDED MARCH 31, 2008
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
SEC FILE NUMBER
000-33231
NOTIFICATION OF LATE FILING
CUSIP NUMBER
(Check one):
Form 10-K
Form 20-F
Form 11-K
X
Form 10-Q
Form 10-D
Form N-SAR
Form N-CSR
For Period Ended:
March 31, 2008
Transition Report on Form 10-K
Transition Report on Form 20-F
Transition Report on Form 11-K
Transition Report on Form 10-Q
Transition Report on Form N-SAR
For the Transition Period Ended:
Read Instructions (on back page) Before Preparing Form. Please Print or Type.
Nothing in this form shall be construed to imply that the Commission has verified any information contained herein.
If the notification relates to a portion of the filing checked above, identify the Item(s) to which the notification relates:
PART I — REGISTRANT INFORMATION
CoroWare, Inc.
Full Name of Registrant
Innova Robotics and Automation, Inc.
Former Name if Applicable
4074 148th Avenue NE
Address of Principal Executive Office (Street and Number)
Redmond, WA 98052
City, State and Zip Code
----------------------------------------------------------------
PART II — RULES 12b-25(b) AND (c)
If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate)
(a)
The reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;
X
(b)
The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D,or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and
X
(c)
The accountant’s statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.
PART III — NARRATIVE
State below in reasonable detail the reasons why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-SAR, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period. (Attach extra Sheets if Needed)
The compilation, dissemination and review of the information required to be presented in the Form 10-Q for the relevant period has imposed time constraints that have rendered timely filing of the Form 10-Q impracticable without undue hardship and expense to the registrant. The registrant undertakes the responsibility to file such report no later than five days after its original prescribed due date.
--------------------------------------------------------------------------------
PART IV — OTHER INFORMATION
(1)
Name and telephone number of person to contact in regard to this notification
Lloyd T. Spencer
(800)641-2676
(Name)
(Area Code)
(Telephone Number)
(2)
Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? If answer is no, identify report(s).
Yes
X
No
(3)
Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof?
Yes
No
X
If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.
COROWARE, INC.
(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.
Date:
May 15, 2008
By:
/s/ Lloyd T. Spencer
Lloyd T. Spencer, Chief Executive Officer
PR monday morning about ticker change at least. Maybe more.
COROWARE ANNOUNCES DISTRIBUTORSHIP AGREEMENT WITH PITOTECH CoroWare Expands Distributor Base for Selling the CoroBot to Asia REDMOND, WA – April 28, 2008 - CoroWare, an Innova Robotics & Automation company (INRA.OB), today announced it has entered into a distribution agreement with Taiwan based technology provider, Pitotech. Beginning April 17, 2008, Pitotech added CoroWare’s CoroBot to their products list. Until recently, CoroWare has successfully marketed and sold the CoroBot product line to educational, industrial and military sectors through its direct sales efforts. To reach a broader audience, including commercial developers and researchers, technical educators and robot enthusiasts, CoroWare has begun developing a network of qualified distributors and resellers worldwide. “For products to have a good selling point in the market, manufacturers need to know the pains of the customers and provide a product with functionalities to solve them. CoroBot does just that,” said Daniel Chien, CEO of Pitotech. “Another important criterion for us is our partner policy. We want a partner who would like to build a long-term relationship with mutual benefits, and CoroWare is that kind of partner.” CoroWare's CoroBot is a robot development platform that includes a PC-class processor, on-board sensors, color camera and an optional robotic arm capable of four degrees of freedom. Everything needed to jump start a robotic project is affordably packaged in the CoroBot. By teaming up with Pitotech, CoroWare believes it will see an increased market presence in the large Asian market among enterprising researchers, academics and hobbyists who need a powerful development tool at an affordable price. “CoroWare values Pitotech’s ability to guide and assist us in making the CoroBot available to the Asian marketplace,” said Jon Mandrell, Director of CoroWare’s Robotics and Automation group. “I believe Taiwan has much to offer the robotics industry and we are looking forward to a long, productive relationship with them.” About Pitotech
Pitotech is a leading technology provider offering a wide range of products, training and consulting specialized in educational, research, simulation and intelligent Robot applications. Our experienced engineers and consultants deliver high quality solutions and service to fulfill our customers' requirements. In the stormy business environment it is vital to be competitive and make the right decision. Pitotech offers a comprehensive array of solutions to increase profits, efficiency and enhance core competence. Established since 1992, Pitotech is very successful at attracting and retaining professional manpower and keeping highly satisfied customers by providing excellent support and service. Pitotech always pursues long-term and tight relationships with customers and partners. Our Vision is to be a knowledge provider, not only a
product distributor. For more information, please visit Pitotech’s web site at www.pitotech.com.tw.
Cats Meow? wow haven't heard that one for awhile. They still have that nasty financing problem to contend with. Big contract / pay off cornell & they're on the way. Untill then...........
CoroWare Appoints Kris Erikson Director of Microsoft Practice
Wednesday 04/23/2008 7:52 AM ET - Market Wire
As of 11:58 AM ET 4/23/08
CoroWare, an Innova Robotics & Automation company (OTCBB: INRA), today announced the appointment of Kris Erikson as Director of CoroWare's Microsoft Practice. Reporting to CEO, Lloyd Spencer, Erikson will be responsible for further accelerating the growth of CoroWare's Microsoft Practice.
"We are delighted to have Kris Erikson join the CoroWare team," said Lloyd Spencer, CEO of CoroWare. "He brings a creative energy and proven skill-set to CoroWare that we believe will help take us to the next level of increasing revenues through our existing client base and bringing in new clients."
Erikson, 44, comes to CoroWare after serving as Director of Business Development, Seattle Region, at Meridian Technology Group. Before that, Erikson was Business Development Manager at several Seattle-based IT consulting firms where his efforts contributed to the rapid growth of those companies' revenues.
"I'm very excited to join CoroWare working with Microsoft. Professionally, this role allows me to blend together my past experiences by providing sales focus on both project and professional services," said Kris Erikson. "I look forward to the challenges and successes ahead."
Kris graduated from University of Washington in 1990 with a BA in Speech Communications and Marketing. While a student at University of Washington, Kris was also a Public Relations Representative for the U.S. Olympic Committee in Colorado Springs, Colorado.
CoroWare's Microsoft Practice combines expertise in release management, project management, systems engineering and marketing consulting with a wealth of experience working together with Microsoft and other Fortune 100 companies.
Cheese anyone??
j_t, you can e-mail innova at :investors@innovaroboticsautomation.com , and ask. I've done so in the past and gotten a response. Not allways quickly but they did respond.
Good luck,
Didn't you just post "But as some on here say - be patient, you'll be rewarded" ?? Your pulling a Harry on us here.
Buying time, time for what one may ask? Only time will tell. Someone sell me some shares at .005 please.
Was wondering where your info is comming from. Also how secret could it have been if a local writer did a story on it?
Inch by inch getting to where we need to be.
I think your right on smart f. Ummm eggs!
Not your typical OTCBB crew!
What may I ask is typical about any of these guys?
(Repost of j_ts post last week)
It's new management that gives me pause over this company, and I know just a few things about him (maybe interesting/maybe totally old news): i) Media X is a real centre/program at Stanford and - having some experience working in the university world myself - you do need some credibility to be in an Executive Director position of such an organization (and it is Stanford, after all .. maybe not CalTech or MIT, but still ...).; ii) Chuck House has been Chairman of the Board of TII Networks for a few years, and he seems to have kept the company on track and reporting positive earnings for a few years; the stock dropped a little right after he took over in Dec. 2005, but it often seems to do that with a management change (just like INRA did in Dec. 2007 and that seemed to be a positive change); TII has fallen in value a little, but it is a tough market right now for tech. stocks, and network products/services is not the easiest market these days; iii) He took over leadership of the board of Applied Microsystems just before the company was liquidated; he was on the board for several years, but I think he was put in that position to handle the liquidation (although, I am not at all sure about that - perhaps his history there could be made a little clearer); iv) this is on top of experience at Intel and HP (he also just recently finished a very well reviewed book on his time at / the history of HP).
I have two points here: 1) This certainly does not seem like a "pump and dump" type of investor/CEO and it also seems unlikely that this is a "take and break" move ... there aren't really any assets to break up and sell off with this company (maybe patents??)
Let us not forget Lloyd Spencer.
Pergamon imo there will come a day the one who is selling cheap to keep pps down will look back at how much money they threw away for such a foolish cause and realize how much money they could have made had they held on to those shares.
1000 or so corobots could do it.
I think your right on that but I also think it's taking longer than most had hoped for, myself included. This co. is just one multi million dollar contract (not that big a deal in the Biz. world) away from making a huge jump. If they can keep it afloat it will happen, IMO.Then if management really wants this co. to suceed beyond that (one would think they do)cornell will be gone or on the way out. Has anyone figured out how much it would cost to pay cornell off.
Looks as though that agreement was made in July of 06. They would only exercise the purchase if the current share price were higher than what they could get it for. ex. if the price were .26 or higher they would be able to buy 2,300,000 at .25 and so on.
Robot Spotlight Corobots and Microsoft Robotics Studio at Vassar
http://www.botmag.com/articles/coroware.shtml
No Bob Smith does not have any looming charges pending unlike VandenBerg who lied his way in then was fired when the truth came out. imo
Link for Robots on the march part 2 / Spin mentioned yesterday http://www.edn.com/article/CA6526815.html
Someone is buying if someone is selling. Harry what fact's do you have to back who is selling?
What exactly is your factual basis for this statement? What is your factual basis for beliving INRA knew he was a crook when they hired him? Give me proof that they did.
P.S. I'm ok with spin too. This is kind of fun
You love to leave out little facts -President/COO sentenced for federal crime/s involving smuggling money. He did it in 2002 with another co. misrepresented himself when hired by INRA, and INRA new nothing about it when he was hired, then INRA fired him as soon as it became known to them. This is just one examle of how you spin the truth to look like somthing else.
Fortunately his is mattering less to none at this point and forward into the future.
Come on can't ya get a copy of his credit card bills too?? How about unpaid dry cleaning bills? I'm sure you've tried.
Old habits die hard
Are they working out of the Microsoft Partner Solutions Center?
The 21,000 square foot facility located on the Microsoft Redmond, Washington campus featuring state-of-the-art technology laboratories, data centers, a network operations center and partner offices for building, testing and designing superior network solutions that focus on delivering greater availability to revenue-centric, network-based applications and services. The center is designed to engage customers through executive briefings, technology demonstrations, architectural design sessions, proof-of-concepts, training sessions and custom engagements.
INRA board now on yahoo finance/it must be new because there's only a couple of posters so far
No, the decision will be made by the board.
e-mail inra with your support of Lloyd Spencer as Permanent CEO at investors@innovaroboticsautomation.com
And Harry wanted to be the Mod. again just 3 weeks ago
"I will be your moderator again if you'd all like me to be. Now that Pine Ridge has closed, I am back on board with this stock."
Go Coroware!
Harry! Post #9824 1/10/08
I think it is how many reads it had on that particular web site. (I copied it from a news site)
This is only 10 day's old but let us not forget. It is still very good news. I know it was posted 10 days ago but I feel it's worth posting again
CoroWare announced that it has joined the Microsoft Partner Solutions Center (MPSC) as a project level sponsor.
"We're delighted to have CoroWare join the MPSC as a project sponsor," said David Hayes, director of the MPSC at Microsoft. "We believe that CoroWare's distinctive suite of innovative services and enterprise solutions can bring great value to Microsoft, our partners and customers."
By joining the Microsoft Partner Solutions Center, CoroWare will be able to develop and demonstrate its solutions in the MPSC briefing centers, and will have the ability to provide onsite customer briefings, design sessions, proof of concept engagements and training -- all of which can be customized for specific customer needs. Through the unique resources offered through the MPSC, CoroWare solutions will be available to customers around the world.
The MPSC is a 21,000 square foot facility located on the Microsoft Redmond, Washington campus and features state-of-the-art technology laboratories, data centers, a network operations center and partner offices for building, testing and designing superior network solutions that focus on delivering greater availability to revenue-centric, network-based applications and services. The center is designed to engage customers through executive briefings, technology demonstrations, architectural design sessions, proof-of-concepts, training sessions and custom engagements.
"The Microsoft Partner Solutions Center is a tremendous resource where CoroWare can work with Microsoft to broadly promote our services and solutions portfolio to enterprise customers," said Lloyd Spencer, president and CEO of CoroWare. "We look forward to demonstrating CoroWare's innovative solutions -- knowledge management and innovation collaboration portals, SOA (Service Oriented Architecture) integration, interactive multimedia applications and Microsoft Robotics Studio simulations -- all of which maximize technology investments and achieve customer goals."
Published Jan. 21, 2008 — Reads 743
Copyright © 2008 SYS-CON Media. All Rights Reserved.
It just seems that way at times, I hope your right.
All's well, maybe some reflecting going on? Some waiting for good news others hoping for bad.
On September 10, 2007, Kenneth D. Vanden Berg resigned as an executive officer of Innova Robotics & Automation, Inc. (the “Company”). In addition, Mr. Vanden Berg’s employment agreement has been terminated effective immediately. In accordance with Mr. Vanden Berg’s employment agreement, the Company owes no further fees or salary. Mr. Vanden Berg’s resignation is a result of his failure to disclose the commission of a criminal offense regarding the violation of federal bulk cash transfer statutes which occurred in 2002, prior to his employment with the Company. In accordance with the Company’s hiring policies, a background check was conducted on Mr. Vanden Berg prior to his employment and no records relating to this or any other similar matter were found. The existence of this offense and conviction was not disclosed by Mr. Vanden Berg to management or the Board of Directors of the Company. Management of the Company became aware of this infraction on September 10, 2007.
Coroware working with microsoft a scam?? I think not. Your accusations of the past, ( I've seen no definitive proof of them being true) have nothing to do with the future of coroware. If you think you can stop coroware with this little chat room you truly have delusions of grandeur. The old INRA is gone, it's a new & better day.
To those filled with anger:
One evening an old Indian told his grandson about a battle that goes on inside people. He said, "My son, the battle is between two 'wolves'inside us all. One is Evil, it is anger, envy, selfishness, jealousy,sorrow, regret, greed, arrogance, self-pity, guilt, resentment,inferiority, lies, false pride, superiority and ego. The other is Good,it is love, joy, peace, hope, serenity, humility, kindness, benevolence,empathy, generosity, truth, compassion and faith." The grandson thought about it for a moment and then asked his grandfather, "Which wolf wins?"The old grandfather simply replied, "The one you feed."
I agree with you on that Mr. O, I for one will not forget you were the one that was right about the ABB settelment while Mr know it all (you know who I mean) was wrong, so wrong he lost his shirt. We all know penny's are risky, one should never have more invested than they are willing to lose, if you do & you lose you have no one to blame other than yourself, Risk vs reward, I still belive coroware could really pull through on this one and at this point the reward potential is starting to outweigh the risk.
I will be your moderator again if you'd all like me to be. Now that Pine Ridge has closed, I am back on board with this stock.
Go Coroware!
Harry! 1/10/08 Ummmmm, make up your mind Harry
PS Spin will you please be Harrys friend, he'll agree with what ever you say & jump on whatever bandwagon you want him on