Hang in there, boys and girls. We’re soon to have a great ride in the sky with ZERO!!!
STWA Strategic Objectives Update
SANTA BARBARA, CA -- (Marketwired) -- 05/06/13 -- STWA, Inc. (OTCBB: ZERO) ("STWA" or the "Company"), a developer of applied efficiency technology solutions for oil and fuel delivery systems in the multi-billion dollar global energy market, today announced progress towards its 2013 strategic objectives including achievements putting the Company closer to listing on a national exchange and advancements for commercial implementation of AOT™ Midstream. My comment: WHEN THIS UPLIST OCCURS, LOOK OUT PRICE!!!
According to published documents describing NASDAQ's listing guidelines, STWA meets various criteria including: Market Value of Publicly Held Shares; Market Value of Listed Securities; Operating History; Publicly Held Shares; Market Makers; and Shareholders, and is actively making progress towards meeting Corporate Governance, Board Development, Stockholders Equity and Net Tangible Assets criteria. Meeting these criteria is critical to STWA's pursuit of its desire to move to a larger trading platform.
As an additional move towards a trading platform change, STWA has increased its number to two independent directors, in anticipation of meeting National Exchanges' requirements for an independent director majority. STWA has also retained Sichenzia Ross Friedman Ference LLP to manage the legal aspects of the pending trading exchange uplist. My comment: THIS IS HUGE!!!
In its recently filed Form 10-Q for the period ended March 31, 2013, with the Securities and Exchange Commission, STWA reported a $6.2 million improvement in its shareholders' equity which increased to a stockholders' equity of $3.3 million in the quarter ended March 31, 2013, from a stockholders' deficiency of $(2.9) million on December 31, 2012. The Company's cash position also increased by $2.9 million to $4.5 million in quarter ended March 31, 2013, from $1.6 million on December 31, 2012. The increase in these assets represents a material advancement towards meeting listing requirements for national exchanges.
In the past year the Company has raised roughly $8 million through warrant exercises from existing investors. The exercise and expiration of warrants has increased the cash position as well as shareholders equity position of the Company and reduced its derivative liabilities. As of the end of the first quarter, the Company has warrants vested and exercisable that would result in roughly an additional $8 million in funding upon exercise.
Advancement Towards Commercial Implementation of AOT™
During the quarter ended March 31, 2013, STWA increased the number of major multi-national companies with which is it under non-disclosure agreements for implementation of AOT™ Midstream, from five to seven. My comment: THIS TOO IS HUGE!!!
The Company has seen progress in formal negotiations with these entities towards implementation of the AOT™ technology to operations both domestic and abroad. The recent completion of ASME certification for STWA's AOT™ Midstream was an important milestone in meeting installation requirements from both the companies interested in the new product and their governmental regulatory body counterparts.
"STWA has never been on stronger footing," stated STWA CEO Cecil Bond Kyte. "Not only have we created a new and novel cutting-edge product that the industry needs and wants, but we have succeeded in building a strong corporate foundation at the same time. Both of these efforts have yielded a company poised for explosive success. We look forward to 2013 being a monumental year."
