They're selling shares 50% discounted to note holders.
Read filing.
"On March 10, 2011, CoroWare, Inc. (“Issuer”) issued 12,000,000 shares of its common stock for an aggregate offering price of $6,000 upon conversion by the holder of a convertible promissory note made by the Issuer. The Issuer relied upon the exemption under section 4(2) of the Securities Act of 1933 in issuance of the shares."
3/10 price was 0.0012. $6000/12M shares=0.0005
I think by now, they sold another bulk of shares, if then, today's price is 0.0007 -> 0.0003 which is the next thick bid.
The company wants to sacrifice share holders' value to be cut 50% just to make $6k. That's ugly. I agree this is just stock selling scam. They will do a lot more if this is their behaviors.
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