RWT II, which started up a year or two after the failure of RWT I, approached many small companies all across the U.S. Walt wanted, I believe, to expand through acquisition that was funded by stock sales. It wasn't necessarily a bad strategy. It could still work for someone. But most of the small companies were not interested, or they were interested for a while (like Mesa), then exited.
CoroWare was different. They went for it. It enabled them to grow. Lloyd seemed to do solid, though maybe fragmented, work before joining INRA. CoroWare never struck me as having a lot of money and may have seen access to capital as an opportunity.
For what it's worth, there was a post by Raynell1, who some on this board have indicated used Walt's e-mail address, stating that CoroWare was engaged in a lawsuit and needed cash (see post 8737).