NEW YORK, Oct. 1, 2012 /PRNewswire/ - COREwafer Industries, Inc.(OTC Pink: WAFR), the parent company of Northeast Expedite Logistics, LLC, a transportation company and Core Wafer Systems, Inc., a technology leader in semiconductor testing; announces that they have selected Salberg & Company, P.A. to complete a full audit of the company financials in preparation for a registration statement on Form S-1 filing.
Salberg & Company is a respected, PCOAB certified, Florida independent registered accounting firm. The selection of Salberg & Company concludes a thorough selection process, which the company conducted as part of its effort to select an auditor with optimal skills that would match Corewafer's needs as a growth company. COREwafer believes that Salberg & Company will have adequate time to prepare audited financials for the two years ended December 31, 2012, during the first fiscal quarter of 2013.
CFO, Teresa McWilliams of COREwafer comments on bringing in Salberg & Company as the company's independent financial auditor, "We have gone to great lengths to secure all of the past corporate history, documentation, and financial data that Salberg & Company will require to bring this company back to fully audited and reporting status. I believe that their experience in this sector, coupled with their reputation, made them an ideal choice to become our independent auditors."
Ms. McWilliams continues, "We have begun to draft our Form S-1 and will formally file the document upon completion and acceptance of the audit. Declaration of effectiveness of the Form S-1 by the Securities and Exchange Commission, will allow WAFR to draw upon the $10M in equity financing that we previously announced. With these available funds, we can build additional trucking capacity for Northeast Expedite Logistics and increase sales operations within Core Wafer Systems, domestically and internationally."
About COREwafer Industries, Inc.
COREwafer Industries, Inc. (OTC Pink: WAFR.PK) is the parent company of Northeast Expedite Logistics, LLC, a transportation company; and Core Wafer Systems, Inc., a technology company with their propriety measurement schema for physical phenomena of semiconductor structures.
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Safe Harbor Statement
This press release contains forward-looking statements. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as its future results of operations and financial condition. Such risks include, but are not limited to, the effects of competition with existing enterprises and/or new entrants into the company's markets and industries, fluctuations in currency exchange rates, domestic and global economic conditions generally, the company's ability to obtain financing and attract suitable personnel where required to fully implement its business plan, the adoption and acceptance by the marketplace of the company's technologies and product and service offerings, the possibility of new technologies that are competitive with the company's planned product and service offerings and the effects of future political and economic developments both in the United States and abroad, among others. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of information, future events or otherwise.
SOURCE COREwafer Industries, Inc.