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Thats what I said... three years ago
Hope your right Aries, I hate losing money! I deemed this my slot machine stock long ago but still.....come on baby pay out a little!
I stand corrected, relied on memory when I stated that. It all runs togeather after a few years.
So does anyone else smell another reverse split in the air? There's not much room left at the bottom. Unless this get's back up to penny world .01 or above I see it comming based on this stocks past. This would be the first one since Lloyd & Coroware took over.
The following is a list of “threshold securities” from the Nasdaq Stock Market, published daily in compliance with the U.S. Securities and Exchange Commission’s Regulation SHO.
The list consists of stocks for which sellers failed to deliver 10,000 shares or more in the past five trading days and the level of “fails” is a minimum of 0.5 percent of the shares outstanding. Securities are listed alphabetically by ticker.
Consecutive Days
Ticker Security Name on List
COWI CoroWare, Inc. New Common Stoc 36
Ihub- been going on for several days at least now
An attempt to attack my computer is blocked by my security everytime I get on this site, anybody else?
No its not your fault, point being you don't have to be rude. Sorry about the jewelry comment, that was rude of me as well. Peace
p.s posting on this board IS engageing in an open conversation with anyone on the board.
Not sure what to make of this, anyone up on what this is about?
Nasdaq ’Threshold’ Securities for Nov. 8
By Michael J. Munoz - Nov 8, 2010 11:55 PM CT Tweet LinkedIn Share
Business ExchangeBuzz up!DiggPrint Email .Attachment: Nasdaq 'Threshold' Securities (Table) The following is a list of “threshold securities” from the Nasdaq Stock Market, published daily in compliance with the U.S. Securities and Exchange Commission’s Regulation SHO.
The list consists of stocks for which sellers failed to deliver 10,000 shares or more in the past five trading days and the level of “fails” is a minimum of 0.5 percent of the shares outstanding. Securities are listed alphabetically by ticker.
================================================================
Ticker - Security Name
COWI - CoroWare, Inc. New Common Stock
Consecutive Days on List- 13
REDMOND, Wash., July 28, 2010 (GLOBE NEWSWIRE) -- CoroWare Technologies, a wholly owned subsidiary of CoroWare, Inc. (OTCBB:COWI - News), today announced availability of CoroWare NameTag(TM), a software application that lets video conferencing users customize their webcam experience.
Business meeting attendees participating in a multi-person video conference call using Skype Beta 5.0 or CoroCall typically need to request and record the name and affiliation of everyone as they join the meeting.
Using CoroWare NameTag(TM), attendees can identify themselves with their name, title and location, as well as their organization's logo, in a way that is easy to use and professional in appearance.
"As affordable multi-point video conferencing services - such as Skype Beta 5.0 and CoroCall -- are used for day-to-day business, end-users are increasingly looking for solutions that enhance their meeting experience," said Josh Sherman, Telepresence Business Unit Manager. "Our early adopter release of CoroWare NameTag(TM) will give end-users the opportunity to provide feedback on the current release and participate in feature enhancement discussions with our product development team."
CoroWare NameTag(TM) is available today on Microsoft Windows XP, Windows Vista and Windows 7 desktop platforms. A 30 day free trial version can be downloaded for free by going to the following web link: http://www.coroware.com/nametag.
For questions about CoroWare NameTag(TM), please contact us at nametag@coroware.com or 1-800-641-CORO (2676), option 1.
You think there looking to be bought out or just refinanced?
Someone sold some shares to themselfs 6 months ago for .50. Check it out it was a single sell then back to .06 or whatever it was at the time, not sure what the point of that was. The pps was .24 or .28 right after the last reverse split and slid on down to where it is now. I would love to see this co. suceed. I was pleased as well when Lloyd & coroware took over and it seems he's doing the best he can to keep it going. As long as they stay afloat theres a chance somthing could happen.
And 2 or 3 reverse splits and three name changes and two ceos and..............
Don't tell me about patience. I've been here since 2006
Again for the umteenth time!!
Thats great news for all those in over .10....not!
RESULTS OF OPERATIONS THREE MONTHS ENDED MARCH 31, 2010 COMPARED TO THREE MONTHS ENDED MARCH 31, 2009:
During the three-month period ended March 31, 2010 (the "2010 Period") revenues were $545,809 compared to revenues of $657,989 during the three-month period ended March 31, 2009 (the "2009 Period"). Our revenues decreased compared to the previous year as customers delayed spending in January and February on software development, infrastructure deployment and product purchases.
Cost of revenues was $440,436 for the 2010 Period compared to $415,488 for the 2009 Period. Cost of revenues represents primarily labor and labor-related costs in addition to overhead costs. Management made a concerted effort during the past 12 months to reduce our cost of revenues and increase our gross profit. Gross profit on these 2010 revenues amounted to $105,373 (19% gross profit percentage) compared to $242,501 (37% gross profit percentage) for the 2009 Period revenues. The reduced gross profit percentage resulted from our investment of consulting resources into our telepresence initiative that we believe will result in new business in the coming months.
Operating expenses were $262,864 during the 2010 Period compared to $301,235 during the 2009 Period. Selling, general and administrative operating expenses were lower in the 2010 Period due to the reduction in costs related to officers' salaries, rent and related expenses, travel and entertainment.
Loss from operations was $157,491 during the 2010 Period compared to $58,734 in the 2009 Period. We believe the increase in this loss to be a direct result of increasing our investment in telepresence to increase sales in combination with our cost cutting measures to increase operational efficiency.
Other income (expense) was $681,288 during the 2010 Period compared to ($2,006,101) in the 2009 Period. Other income (expense) is comprised primarily of derivative income (expense) and amortization of debt discount and deferred finance costs. Derivative income in the 2010 Period was $936,711 compared to derivative expense of $1,585,459 in the 2009 Period. The embedded conversion features associated with our convertible debentures are valued based on the number of shares that are indexed to that liability. Keeping the number of shares constant, the liability associated with the embedded conversion features increases as our share price increases and, likewise, decreases when our share price decreases. Derivative income (expense) displays the inverse relationship. The derivative income in the 2010 Period is the result of the decrease in our stock price on the measurement dates during the three month period ($0.08 at December 31, 2009 versus $0.028 at March 31, 2010). The derivative expense in the 2009 Period is the direct result of the increase in our stock price on the measurement dates during the three month period ($0.03 at December 31, 2008 versus $0.18 at March 31, 2009). An increase in the stock price resulted in an increased value of the embedded conversion feature (using the Monte Carlo calculator) which resulted in derivative expense. Interest expense for the three month 2010 Period is $277,381 compared to $420,642 for the three month 2009 Period. The decrease in interest expense is a direct result of the amortization of debt discount on the convertible debt. The debt discount was amortized using the effective interest method. Under this method, the amount of amortization increased exponentially as the underlying carrying value of the amortized debt increased. The debt discounts associated with the $2.8 million financing and the $600,000 financing finished amortizing in the fourth quarter of 2009.
Net income for the 2010 Period was $523,797 compared to net loss of $2,064,835 for the 2009 Period.
Basic weighted average shares outstanding were 6,894,901 during the 2010 Period compared to 2,929,176 in the 2009 Period. Fully diluted weighted average shares outstanding were 7,157,401 for the 2010 Period. There is no fully diluted calculation for the 2009 Period as the effect would have been anti-dilutive.
--------------------------------------------------------------------------------
LIQUIDITY AND CAPITAL RESOURCES
At March 31, 2010, we had current assets of $169,689, current liabilities of $9,105,473, negative working capital of $8,935,784 and an accumulated deficit of $23,905,165.
We presently do not have any available credit, bank financing or other external sources of liquidity. We will need to obtain additional capital in order to expand operations and become profitable. In order to obtain capital, we may need to sell additional shares of our common stock or borrow funds from private lenders. There can be no assurance that we will be successful in obtaining additional funding. We will still need additional capital in order to continue operations until we are able to achieve positive operating cash flow. Additional capital is being sought, but we cannot guarantee that we will be able to obtain such investments. Financing transactions may include the issuance of equity or debt securities, obtaining credit facilities, or other financing mechanisms. If we do not obtain additional capital, we may cease operations.
However, even if we are able to raise the funds required, it is possible that we could incur unexpected costs and expenses, fail to collect significant amounts owed to us, or experience unexpected cash requirements that would force us to seek alternative financing. Furthermore, if we issue additional equity or debt securities, stockholders may experience additional dilution or the new equity securities may have rights, preferences or privileges senior to those of existing holders of our common stock. If additional financing is not available or is not available on acceptable terms, we will have to curtail our operations.
OFF-BALANCE SHEET ARRANGEMENTS
We do not have any off balance sheet arrangements that are reasonably likely to have a current or future effect on our financial condition, revenues, results of operations, liquidity or capital expenditures.
CONTRACTUAL OBLIGATIONS
The following table sets forth the contractual obligations of the Company as of
December 31, 2009:
Payments due by Period
Less than 1 More than 5
Contractual Obligations Total year 1-3 years 3-5 years years
Convertible debt, net $ 2,468,525 $ 2,468,525 $ - $ - $ -
Notes payable 357,732 357,732 - - -
Notes payable, related parties 408,229 408,229 - - -
Operating leases 68,751 27,482 41,269 - -
Long -term debt 989,100 989,100
Total $ 4,292,337 $ 4,251,068 $ 41,269 $ - $ -
EFFECT OF RECENT ACCOUNTING PRONOUNCEMENTS
Refer to Form 10-K for the year ended December 31, 2009.
You've got allot of folks here who have been here a long time & have seen there dollars wither to cents, for the few who have gotten in at .02 or less, well good for you.
Looks as though we have a party of one anyway.
Welcome to the hotel California.
Don't know if awesome is the right word for this stock, how long before sub penny and a third reverse split is my question.
Tea anyone?
What leads you to belive good news is comming?
Shareholder updates don't seem to be helping much. Real news with $$$ involved is what we need here STAT.
CoroWare Releases Shareholder Update
: CoroWare, Inc. On Monday February 22, 2010, 8:30 am EST
REDMOND, Wash., Feb. 22, 2010 (GLOBE NEWSWIRE) -- CoroWare, Inc. (OTCBB:COWI - News) wishes to offer its shareholders an update on its business and its outlook for 2010.
CoroWare was established in 2004 with the vision of not only becoming a traditional systems integrator, but also a pacesetter that would offer services, solutions and products in innovative areas such as mobile robotics and affordable telepresence.
We are proud to announce that we have achieved many of our goals in spite of very significant challenges that came to us when Innova Holdings acquired CoroWare in 2006, and the Company encountered a deep recession that began in 2008 and persists with us today.
In spite of these challenges, CoroWare has successfully:
•established and grown long-term relationships with major account customers in North America and Europe
•shipped CoroBot® and Explorer mobile robots to over a dozen universities in North America, Europe, and Asia
•launched CoroCallâ?¢, an affordable telepresence service that can help small and large organizations reduce travel expenses, improve collaboration, and increase productivity
•streamlined its operations and brought General and Administrative expenses in line with revenues
Having accomplished these goals, the Company is looking forward to building on its success and delivering value to its shareholders in 2010 by fostering managed growth and rebuilding the Company's financial foundation.
In order to foster managed growth in 2010, the Company has segmented its business into three business units that have distinct growth markets, products and services, and financial objectives:
•CoroWare Business Solutions: IT Consulting and software development services
•Robotics and Automation: mobile robotics products and services
•Telepresence: affordable high definition videoconferencing products and services
The Company intends to rebuild and reinforce its financial foundation by achieving profitability, reducing debt, increasing working capital with a range of prospective finance partners, and attracting long term investment in the Company.
In closing, we anticipate that 2010 will be an exciting year for CoroWare, and we wish to thank our shareholders for their loyalty and support.
Press Release Source: CoroWare, Inc. On Tuesday February 9, 2010, 7:45 am EST
CoroWare Announces CoroBot Upgrades to Meet Research Community Demand New Features Offer Superior Maneuverability and Improved Performance
REDMOND, Wash., Feb. 9, 2010 (GLOBE NEWSWIRE) -- CoroWare Technologies, a subsidiary of CoroWare, Inc. (OTCBB:COWI - News), announced today it has once again upgraded standard features and options for the CoroBot, a mobile robot designed to minimize the complexity of robotics development.
Researchers and developers working on robotic applications such as navigation and mapping now have the option of choosing a CoroBot with a three-wheel differential drive (diff-drive) base or the original four-wheel drive skid steering base. The new three-wheel design with rear caster allows CoroBot to turn in place at its approximate center point. This feature provides smoother and more accurate turning, especially on carpeted surfaces. The new diff-drive design often results in power savings that translate into longer run times.
Additionally, both the diff-drive and four-wheel drive options will now come with stronger motors for improved performance and tactile bumper sensors to detect direct contact with other objects.
"Caster-based designs are popular due to the benefits of near zero footprint turning and highly reduced wheel drag," said Matt Trossen, CEO of Trossen Robotics, an authorized CoroBot distributor.
CoroBot is a capable, expandable and affordable robotic platform that comes fully assembled with an application to tele-operate right out of the box. Equipped with a 1.5 GHz PC-class processor, 1 GB RAM, 80 GB storage space and a robust, object-oriented software development system, the CoroBot empowers researchers to rapidly deploy and develop robotics solutions.
Previous upgrades included a dual-core AMD processor to provide even greater processing power for complex algorithms and a camera upgrade with pan/tilt capabilities. Researchers can now build more robust applications that incorporate vision recognition, robotics software components such as simultaneous localization and mapping (SLAM), and path planning.
"We are constantly evaluating our line of products and their features based on customer feedback and market trends," said Jon Mandrell, Vice President of CoroWare. "These upgrades provide the robotics community with powerful tools they can customize to meet their goals at a price-point that optimizes their time and budget."
For pricing, specifications and FAQs visit http://robotics.coroware.com/products.
What the #**!! .29???? I had some shares I wanted to sell at .29
Another Press Release : CoroWare, Inc. On Thursday January 28, 2010, 1:03 pm EST
REDMOND, Wash., Jan. 28, 2010 (GLOBE NEWSWIRE) -- CoroWare Technologies, a subsidiary of CoroWare, Inc. (OTCBB:COWI - News), today announced it has entered into a distribution agreement with Malaysia-based technology provider Megah Suria Sdn. Bhd. Beginning January 4, 2010, Megah Suria added CoroWare’s CoroBot and Explorer robots to their product portfolios.
Megah Suria offers technically advanced and leading edge product portfolios featuring efficient and highly reliable equipment specially designed to solve problems faced by members of the research, development and education communities. With more than 30 years of experience, the company has built a wide range of vendor relationships affiliated with education and research.
“Our partnership with CoroWare enables us to introduce innovative robotic platforms to the educational and research sectors, and channel new and cost-effective solutions to researchers and educators in this field,” said S. M. Wong, Commercial Director for Megah Suria.
CoroWare's robotics product line includes the CoroBot and Explorer platforms. These development platforms include PC-class processors, on-board sensors, color cameras and optional robotic arms capable of four degrees of freedom. CoroBot is designed for development inside the lab, while Explorer is built on a more rugged chassis to withstand certain environmental elements encountered in the field, such as dust, dirt, gravel, sand, leaf debris and small puddles.
By teaming up with Megah Suria, CoroWare can further grow its business in the Asia-Pacific region. According to www.worldrobotics.org, the Asia-Pacific region, including Malaysia, experienced 10% growth in robot sales despite a sudden decline in robot sales worldwide due to the global recession.
“Approximately 50 percent of our robot sales come through our partner distribution channel,” said Jon Mandrell, Vice President of CoroWare, Inc. “We’re excited to add Megah Suria to our team of distributors, and believe their long experience as suppliers to high-tech education and research communities will help grow CoroWare’s international presence.”
About Megah Suria Sdn. Bhd.
Megah Suria Sdn Bhd, an employer-owned company, is a leading supplier of innovative and ingenious instrumentation, training systems, software and consumables at the forefront of technologies. The company is dedicated to providing development, manufacturing and marketing services and products within the field of scientific, laboratory, education, engineering, medical and industrial applications especially in the field of data and image acquisition-processing, robotics, advance material technologies, biotechnologies and physical, chemical and medical sciences advancement.
TRANSCRIPT OF INTERVIEW WITH CEO/CFO Issue: December 11, 2009
All rights reserved!
ceocfointerviews.com
The Most powerful Name in Corporate News and Information
With Telepresence Changing The Way Businesses And People Communicate,
CoroWare (COWI:OTCBB) Is In The Right Place At The Right Time
With Their Revolutionary CoroCall
Technology
Communication Automation
(COWI-OTC: BB)
CoroWare, Inc.
4056 148 Ave. NE
Redmond, WA 98052
Lloyd Spencer
President and CEO
BIO:
Lloyd has over 23 years of experience in the computer and networking industries in engineering, product marketing, business development, and sales management. His expertise spans a spectrum of service provider industries and technologies, including distributed network computing and embedded systems development. Previously, Lloyd served as Vice President of Marketing and Sales at eQuest Technologies; Solutions Unit Manager at Microsoft; Assistant Vice President and Business Unit Manager at Newbridge Networks; and Product Line Manager at Sun Microsystems.
Lloyd received his Bachelors degree from Cornell University with a major in Biology and Animal Science and with an emphasis in Immunogenetics.
Company Profile:
CoroWare was founded in 2003. Its early focus was on the delivery of IT professional services and development of mobile robotics products. In 2006, CoroWare Technologies was acquired and became a wholly owned subsidiary of Innova Holdings (OTCBB:IVHG), later renamed Innova Robotics and Automation (OTCBB:INRA). In 2008, the parent company was restructured to focus on the business with the greatest potential, namely that of the subsidiary CoroWare Technologies, and in 2009, the parent company was renamed CoroWare, Inc. (OTCBB:COWI).
CoroWare is comprised of three separately managed lines of business. Telepresence offers high-definition video conferencing solutions through product sales and CoroCall subscription services. IT Consulting & Software Development provides professional services including IT management, software development, content management, and program management. Robotics and Automation delivers professional services such as visualization, simulation and software development. CoroWare’s Robotics and Automation group also designs and sells mobile robotic platforms sold to university, government and corporate researchers.
Interview conducted by:
Lynn Fosse, Senior Editor
CEOCFOinterviews.com
CEOCFO: Mr. Spencer, there have been changes since you founded CoroWare,
with a restructuring in 2008. Would you bring us up to date, where are you today and what is the focus?
Mr. Spencer: When CoroWare came together with Innova Holdings in 2006; our business was focused on software and IT consulting as well as mobile robotics. In fact, a lot of the focus has continued in that vein since that time. So, we look at our business and there are three areas now, which still include software and IT consulting. There is one part of that, which is application integration, there is multimedia production and we also have a near-shore and on-shore group, so that is one thing that has changed. Robotics and automation has grown considerably from where we began. We were predominantly selling mobile robots in 2006 and 2007; since then, we have grown considerably in the area of professional services such as simulation and visualization. So those are the two biggest changes in terms of growth.
Another area that has grown especially in 2009 has been personal telepresence. When most people think of telepresence, what they are thinking of is high-definition video conferencing. We approach that in two ways. One way is reselling a product line from Vidyo. The other way is a subscription service that we very recently rebranded as CoroCall. As I sometimes say, “it’s not a video call or an audio call, it’s a CoroCall.”
CEOCFO: What is CoroCall? What is it competing against? Why should people be using it?
Mr. Spencer: CoroCall is a subscription-based video and audio conferencing service. You can have a virtual conference room that holds up to 50 people. For example, if you were using CoroCall with a webcam right now, you would be able to see Kami and me talking with you in real time. For people who do not have a PC or desktop or conferencing system in front of them, we also offer the ability to connect with a telephone, as you are right now. When most people think of some of the more traditional video conferencing companies like Polycom and Tandberg, those are room systems and the room systems will typically cost anywhere between $15,000 and $150,000 depending on the size and configuration. Instead,what we looked at was the way to have Very affordable virtual conferencing rooms, that can cost as little as $100 per month. You can hold a CoroCall on your desktop PC or laptop, a webcam and a headset or maybe a speakerphone - the audio-video equipment investment in that case is
the three unique areas that we have expertise in and that are barriers to entry for this industry. We find that our customers enjoy working with us because CorWare is a very “can-do” kind of company and has a very strong commitment to customer service.
CEOCFO: Are people ready for a desk-top version of video conferencing?
Mr. Spencer: Generally, I am finding that once a customer or potential customer sees it and uses it, there is an immediate “aha moment”. First, it is because of the clarity of the audio and the video, which is superior. If you view the video on our website it shows the clarity of the video and the audio. It is a surprisingly natural conversation. In the past, I certainly used
have an account?’ Yes, we have a guest sign-up. You can just send somebody a web link and meet within a moment’s notice. You don’t have to call a company and reserve a videoconference even an hour ahead. That for them is a very big plus.
CEOCFO: You are also targeting non-profits and jails?
Mr. Spencer: Yes. It turns out that some detention centers are using video conferencing for depositions and arraignments. We are getting inquiries from staffing agencies as well as training and education companies. Non-profits, we are working with a non-profit group to helpthem with their video conferencing infrastructure needs
CEOCFO: Would you tell us more.
around $200. What we are offering is quite different and much more affordable.
CEOCFO: Are people aware of CoroWare?
Mr. Spencer: Certainly we are very new in terms of offering our CoroCall service. We just started offering it really in May. We now have a handful of customers, so we are just really starting out. Some of those customers are looking at bringing on 100 or even 1,000 subscribers in the coming year.
CoroWare went through a very difficult time in 2008 and 2009, but especially towards the very beginning of 2009 we got many of the fundamentals right. The summer of 2009 was remarkably difficult, but not just for CoroWare – for the entire economy. It has not been easy by any measure, but we came through it and kept our operating expenses in balance. Therefore, our customers and our investors can see that CoroWare is emerging from this remarkably difficult recession and that we plan to stick around and focus on growing the business. - Lloyd Spencer
about the other two segments of CoroWare?
The Mr. Spencer: The IT consulting and the software development area is probably around two-thirds of our revenues,maybe a little less. I can imagine that this area will grow about 20% next year. Some of our key customers in this area are MetraTech for software development and Microsoft for IT consulting.
The Robotics and Automation business, was very stable for CoroWare throughout the year.
CEOCFO: What are the barriers to entry?
Mr. Spencer: Well a couple things certainly come to mind; one is that CoroWare has a unique set of capabilities in IT consulting with data center management, So you have to have a very good understanding of not only just the data center management, but also of networking bandwidth. Many people at CoroWare have a long history of working in the service provider industry. There is a fair amount of customization as well when it comes to some of the specialty needs or specific requests customers have, such as usage and billing - and that is where CoroWare’s software development capabilities come into play as well. So having that knowledge of telecommunications, IT management, as well as software development – those are
video conferencing systems starting all the way back in probably the mid-1980’s when they were very “scratchy record” experiences. It was not at all a real-time experience. You would speak and then you would see your audio eventually catch up to the video. Then the video would also be very grainy and very ‘smeary,’ and that is nothing at all like the experience with CoroCall. That ex perience coupled with the price point –which in our case, conference rooms run anywhere from $70 a month on up – is a very affordable solution We had large consulting organizations look at it, and the aha moment was, ‘so I don’t have to set up a reservgatin long in advance? Our reply was, ‘No, yuou can do it on the spur of the moment.’ ‘What if I just wanted to have somebody join, but they don’t
We saw a little bit of a drop-off during the early summer months, and July was quite difficult. On the whole, our university customers were reasonably consistent in their purchases throughout the year. We also announced the CoroWare Explorer product line this year, and there was a recent CoroBot article in Linux Journal Magazine – both of which have had a positive impact on our sales. So, I think we could end up seeing our Robotics and Automation business grow about 25% next year.
CEOCFO: You focus on reducing the cost of sales, so how do you reach new customers, what are you doing that is going to get you where you need to be cost effective?
Mr. Spencer: In 2007 when the previous management team was there, it is hard for me to comment on their cost of sales and what their cost of sales model was. It was not in my purview, but what I will say is that Gene Gartlan – he was CEO at the time - he and I did a reasonably good job of bringing the cost of sales in line with projected sales.
The way we approach IT consulting and software development sales is through a core group of people who are selling professional services into customers such as Microsoft and MetraTech. It is a direct sales group, and they do a remarkably good job of keeping very close contact with their customers. As the demand has risen, we have added a few more sales people to that direct sales force
Robotics and Automation was approached differently from day one, and part of that comes from my background in remote access equipment sales when I was with Newbridge Networks. We sold remote access products that were in the $2,000 - $10,000 range using a channel distribu-tion model.
In the early stages of robotics we sold predominantly through direct sales, but recognized very quickly that there were resellers such as RoadNarrows and The Robot Shop who have close relationships with university customers. We just got another request from a reseller in Mexico, as well. We have around five resellers now, and this sales model has worked very well for us. It has given us a stable and consistent way to scale up our busi-ness as new customer requests come in and as universities increasingly purchase resellers.
In the case of telepresence, we are approaching the sales and business model in a similar way. We will first approach it with direct sales and already have quite a few sales representatives that work on commission only. It has worked extremely successfully. We have few resellers who are just starting to get to under-stand the CoroCall service, and we have given the resellers a reasonable margin to work and grow with. Similar to our robotics business, selling through a reseller channel is the way we are going to scale up and grow the business. Interestingly, CoroCall and video conferencing services in general lend themselves well to social media, such as
vand other sites to spread the message and grow the business “virally”.
CEOCFO: I would imagine that word of mouth would come into play once people start to use CoroCall.
Mr. Spencer: Exactly - you are right on the mark. Having worked in the tele-communications area for many years - I was not working for service providers, but sold to them – I understood the success models in the telecommunications business. Just like the way telephony service and mobile phone businesses took off, a successful communications service always starts with a small group of people that are “influencers”, who come to understand it and use it. Then their family members and their associates start using new communications services. When customers come to understand how well a new service such as CoroCall works, it is quite viral.
In fact, a communications service is a viral business, so you have to make sure your service is reasonably easy to use and affordable, which means different things in different industry sectors.
We have had some interesting training and education customers come our way – one of them trains actors. To train actors, you usually think about bringing people together physically. Not so in this case. This customer is in the experimenting stage, using CoroCall sessions to train actors. In fact, I think we will see a lot of experimentation with videoconferencing and virtual presence over the next few years.
CEOCFO: What is the financial picture like for CoroWare today?
Mr. Spencer: 2008 and 2009 were financially challenging years for CoroWare. The first step, as I have learned over the years, is to get costs under control and get them reasonably aligned with sales. Then you can grow sales and start earning margins and profits. Our focus in 2010 will be to maintain the profitability that we have achieved in Q4 2009, and slowly but surely grow the business. So I have taken a tough approach to getting our costs in line, and now that we have gotten that in place, I will be taking a reasonably
conservative approach to growth. We will make sure that we don’t grow our infrastructure too fast, also making sure that we try to match up sales and the sales and operations infrastruc-ture rather carefully. It is a very difficult tightrope.
In 2010, we hope to improve our ability to capitalize the company properly so that we can finance our growth in anticipation of growing sales - but again, very conser-vatively.
CEOCFO: Is reaching investors a focus for you?
Mr. Spencer: Reaching investors in 2008 and 2009 was not a priority, but that is just now changing. Starting in December and certainly in January 2010 we plan to have more regular news coming out and to improve our investor outreach. Without a doubt we will be looking at frugal and practical ways to reach investors.
A couple of things I have been thinking of is a way to use our CoroCall service to invite and meet with investors so that they can get to know and understand CoroWare more - what we do, what our products and services are, and what CoroCall is all about. We will also be reaching out to investor relations compa-nies and channels in 2010. We are ap-proaching investor relations very care-fully and thoughtfully. In fact, I would like to learn more about CEOCFO!
CEOCFO: Final thoughts, what should people reading about CoroWare take away?
Mr. Spencer: People should take away that CoroWare went through a very difficult time in 2008 and 2009, but especially towards the very beginning of 2009 we got many of the fundamentals right. The summer of 2009 was remarkably difficult, but not just for CoroWare – for the entire economy. It has not been easy by any measure, but we came through it and kept our operating expenses in balance. There-fore, our customers and our investors can see that CoroWare is emerging from this remarkably difficult recession and that we plan to stick around and focus on growing the business.
For what it's worth, Investor Update
OTCBB:COWI December 11, 2009
In The News
CEOCFO Interview
Teleconferencing Continues to Pick Up Speed
Video Conferencing Continues to Surge
With Telepresence Changing The Way Businesses And People Communicate, CoroWare (COWI:OTCBB) Is In The Right Place At The Right Time With Their Revolutionary CoroCall
Lynn Fosse from CEOCFO interviewed Lloyd Spencer, CEO of CoroWare, to learn about CoroWare's business, how CoroWare has emerged from a tough recession in 2009, and CoroCall - CoroWare's personal telepresence subscription service.
Click Here to read the article online CEOCFO Interviews and News.
4056 148th Avenue NE
Redmoind, WA 98052
(800) 641-2676
+44 870 446 2676
http://www.coroware.com
First, I want to thank our loyal investors for their patience with CoroWare over the past year as the employees and management team have been working persistently and creatively to grow the company's business during a deep and long recession.
In the coming year, we will endeavor to communicate more effectively with our investors so that they can see how their investment is being put to work. We will alert you to a new article about CoroWare, a recent press release, and perhaps even an invitation to an Investor CoroCall.
In closing, I look forward to communicating more frequently and effectively with the CoroWare investor community, especially as CoroWare emerges from this remarkably difficult period.
Sincerely,
Lloyd Spencer
CEO
ceo@coroware.com
Teleconferencing Continues to Pick Up Speed
Large networking companies like Cisco Systems (CSCO) and Polycom, Inc. (PLCM) are beginning to make sizable investments in the teleconferencing segment. In addition to Cisco's acquisition of Tandberg and Logitech's purchase of LifeSize Communications, Polycom and the BT Group have collaborated to create unified conferencing solutions as well.
The fact that Cisco has raised its bid to $3.4 billion underscores the importance of teleconferencing to the communications and networking sectors. Increasingly, companies are beginning to see the financial, practical and environmental benefits of web conferencing versus business travel and traditional voice-only conferencing.
Companies like CoroWare, Inc. (COWI) are introducing solutions aimed at bridging video and analog voice through phone systems to facilitate teleconferencing through its CoroCall solution. Meanwhile, the system also includes cutting-edge features like high-definition video and a system that adjusts to each person's available bandwidth without interfering with the call.
Here's a video outlining the technology: http://www.tech-blogger.info/corocall-hd-video-conferencing-recording-broadcastin-and-editing
In the end, large investments by networking companies like Cisco Systems and Logitech validate the importance of teleconferencing within the industry. And given Cisco's raised bid and the rising number of deals, it is likely that the industry will continue to see great interest. As a result, investors may want to keep an eye on smaller companies in the sector like CoroWare, Inc. and others.
The Video Conferencing Market Continues to Surge-Widespread Telepresence Is Not So Far Away
Posted on December 3rd, 2009
When larger enterprises take certain actions, people take notice, and Cisco's 2009 shopping spree is no different. But more than making headlines, the company's myriad acquisitions are forecasting a trend of large telecom vendors collaborating with videoconferencing companies. We've discussed the surge in videoconferencing before, and it should be noted that in addition to Cisco's acquisition of Tandberg (and others) and Logitech's of LifeSize Communications, Polycom and the BT Group have partnered to produce unified conferencing solutions for both enterprise and the public sector.
Since its initial offering, Cisco upped their bid for Tandberg to $3.4 billion, and it is the willingness of these acquiring companies to pay such a sum that intimates a future demand for videoconferencing. It's expected to become a factor in everyday business use, especially now that companies are beginning to see both the monetary, temporal, and environmental benefits of green solutions like web conferencing.
There are also emerging companies like CoroWare, which offers affordable videoconferencing with hig-definition video, and has added the coveted CoroCall to its product line. Many video and web conferencing solutions require users to be in front of a computer to participate, but CoroCall now provides them with the ability to join in from analog telephones. An added benefit: the solution streamlines audio and video conferencing in one affordable solution.
We tend to associate universal telepresence with the futuristic technologies like flying cars and teleportation, but with all the movement in that telepresence industry, the ubiquitous use of videoconferencing doesn't seem so far away.
CoroWare Reports Third Quarter 2009 Earnings
Gross Quarterly Revenues Decline as July Sales Drop and August Sales Rebound
Press Release
Source: CoroWare, Inc.
On 5:38 pm EST, Monday November 23, 2009
Buzz up! 0 Print.Companies:Coroware, Inc.
REDMOND, Wash., Nov. 23, 2009 (GLOBE NEWSWIRE) -- CoroWare, Inc. (OTCBB:COWI - News) today announced its financial results for the quarter ended September 30, 2009.
Related Quotes
Symbol Price Change
COWI.OB 0.1111 +0.0579
For the quarter ended September 30, 2009 ("the 2009 Period"), CoroWare reported revenues of $386,903 compared to revenues of $495,688 during the three-month period ended September 30, 2008 (the "2008 Period"). Revenues decreased compared to the previous quarter as customers delayed or reduced spending in July on software development and infrastructure deployment.
Gross Revenues fell for the month of July, but fully recovered in August and September. This upward trend is a result of new and renewed customer contracts for lab management, IT consulting and software development, as well as steady robotics sales.
Net loss for the 2009 Period was $611,678 compared to net loss of $474,693 for the 2008 Period.
Operating expenses were $313,116 during the 2009 Period compared to $443,737 during the 2008 Period. Selling, general and administrative operating expenses were lower in the 2009 Period due to the reduction in costs related to officers' salaries, rent and related expenses, travel and entertainment.
Loss from continuing operations before other income was $239,236 during the 2009 period, which decreased 88.8% from $274,356 during the 2008 period. Net Loss applicable to common shareholders was $611,678 during the 2009 period compared to a Net Loss of $474,693 in the 2008 period. The Net Loss in the 2009 Period was predominantly due to derivative expenses and loss on debt related to outstanding debentures.
"Although the third quarter results were lowered as a result of reduced customer spending in July, we saw immediate relief in August and September," said Lloyd Spencer, CEO of CoroWare, Inc. "We anticipate continued growth over the next 6 months as we continue to build our CoroCall video conferencing subscription service and our customers increase purchases in IT consulting and software development services."
The full 10-Q report can be accessed by going to www.coroware.com, visiting the Investors page and clicking "Latest 10-Q filing."
Oh Well is more like it. There is no rhyme or reason for the price on this stock at this point.
CoroWare Rebrands Personal Telepresence Service and Launches CoroCall
CoroCall Expands Service by Offering Telephone Access to Video Conferences
Press Release
Source: CoroWare, Inc.
On 7:19 am EST, Thursday November 19, 2009
Buzz up! 0 Print.Companies:Coroware, Inc.
REDMOND, Wash., Nov. 19, 2009 (GLOBE NEWSWIRE) -- CoroWare Technologies, a subsidiary of CoroWare, Inc. (OTCBB:COWI - News), today announced it has rebranded its Personal Telepresence Service to CoroCall, an easy-to-use, affordable, multi-participant video conferencing solution that adds dial-in audio conferencing to the communications mix.
Related Quotes
Symbol Price Change
COWI.OB 0.14 0.00
Until now, video conference meetings required each attendee to be in front of a computer with a high-speed Internet connection, a webcam and either a headset or echo cancellation speaker box. With CoroCall's new voice feature, remote attendees can call into the conference and participate using nothing more than a telephone.
"We have participated in numerous CoroCall-hosted meetings and have been pleased by the usability, interactivity, and quality of the video sessions," said Ira Weinstein, senior analyst and partner, Wainhouse Research. "The addition of audio dial-in capabilities further expands the reach of this hosted offering by allowing users who aren't able to participate using video to join the meeting."
By using CoroCall, businesses can streamline their video and audio conferencing tools into a single affordable solution. Audio conferencing features can be used independently or in conjunction with video conferencing.
"CoroCall makes it easy for anyone to attend a video conference by phone when they don't have access to video conferencing systems or desktops," said Lloyd Spencer, CEO of CoroWare. "By integrating video and phone access, customers can easily and affordably attend a CoroCall whether working from the office, from home, or on the road."
About CoroCall
CoroCall is a high-definition, video conferencing service that allows simultaneous interaction with up to 50 people using commonly available audio/video equipment on a computer with high-speed broadband Internet. Built on Vidyo's(TM) patented, award-winning software, CoroCall eliminates the typical frustrations associated with video conferencing.
There are no contracts to sign, and subscriptions are billed monthly. CoroCall sales associates are available to help customers assess their needs. Custom packages are available for large groups. Members of CoroCall's technical staff will assist with a quick easy set-up to offer free demonstrations prior to ordering.
In addition to video and audio conferencing, CoroCall subscribers have access to add-on services that enable them to capture sessions for broadcasting live streams to web audiences or storing and editing for building video libraries.
For more information on CoroCall, please visit www.corocall.com.
Pricing and Availability
CoroCall video and audio conferencing services are available now in a variety of affordable packages that can meet small and large organizations' requirements.
About CoroWare
Headquartered in Redmond, Washington, CoroWare is a solutions integrator with expertise in personal telepresence and mobile robotics. For more information on CoroWare's products and services, please visit www.CoroWare.com.
NOTIFICATION OF LATE FILING AGAIN
Form 10-K & Form 11-K & Form 20-F &; Form 10-Q
& Form N-SAR & Form N-CSR
For Period Ended: September 30, 2009
& Transition Report on Form 10-K & Transition Report on
Form 10-Q& Transition Report on Form 20-F & Transition Report on Form N-SAR
For the Transition Period Ended: _______________________________________
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
Full name of registrant Coroware, Inc.
Former name if applicable
Address of principal executive office 4056 148th Avenue NE
City, state and zip code Redmond, Washington 98052
PART II
RULE 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 reasons described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;
(b) The subject annual report, semi-annual report, transition report on Form 10-K, 20-F, 11-K or Form 10-Q, or portion thereof will be filed on or before the 15th calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q, or portion thereof will be filed on or before the fifth calendar day following the prescribed due date; and
(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 Form 10-K, 11-K, 20-F, 10-Q, N-SAR or the transition report portion thereof could not be filed within the prescribed time period.
The compilation, dissemination and review of the information required to be presented in the Form 10-Q for the relevant fiscal quarter 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 quarterly report no later than five days after its original 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 the answer is no, identify report(s).
Yes 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
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 thereunto duly authorized.
Dated: November 16, 2009 /s/Lloyd T. Spencer________________
By: Lloyd T. Spencer
Chief Executive Officer
....16... I been down so long that it looks like up to me, to quote J.M. of the Doors. I wrote off this investment a long time ago so I'm just glad it's still alive. As long as it's alive there's still a chance, you never know I might get my money back.
Why am I not suprised?
Quite a jump with no news, wonder whats up
100 sahres at .25?? Someones trying to hot wire this this thing.
Stuck in the mud here or what?
Well it's been 4 days & no 8-K, a little PR for the shareholders would be nice.