REDMOND, Wash., Dec. 10, 2008 (GLOBE NEWSWIRE) -- CoroWare, Inc. (OTCBB:CROE), a systems and robotics technology integrator, announced today the election results from its annual meeting on Monday, December 8.
The final certified proxy tabulation of the Annual Shareholder Meeting showed that all items on the ballot passed with the requisite vote of stockholders required for authorizing such proposals. Specifically:
* Vote to elect four (4) directors of the Company to serve until
the 2009 Annual Meeting of Stockholders or until their successors
have been duly elected and qualified (Proposal 1). Approved by
over 78% of the vote for all directors.
* Vote to amend our Certificate of Incorporation, as amended, to
effect a 1-for-300 reverse split of our common stock (Proposal
2). Approved by over 64% of the vote representing a majority of
the issued and outstanding shares of common stock.
* Vote to ratify the selection of LBB & Associates Ltd., LLP ("LBB
& Associates") as our independent auditors for the fiscal year
ending December 31, 2008 (Proposal 3). Approved by over 99% of
the vote.
* Vote to transact such other business as may properly come before
the Meeting and any adjournment or postponement thereof (Proposal
4). Approved by over 97% of the vote, although no other business
came before the Annual Meeting.
"Our shareholders' support for these proposals were critically important for helping CoroWare grow its business, generate investor interest in CoroWare as a long-term investment, and continue to attract and retain talented employees," said Lloyd Spencer, Interim CEO of CoroWare, Inc. "I wish to thank our shareholders for their patience and enduring support."
About CoroWare
CoroWare, Inc. is a software and software professional services provider and mobile robotics integrator that delivers high value services and innovative solutions to maximize technology investments and achieve customers' goals. CoroWare has depth of knowledge and breadth of experience in developing software and solutions for mobile service robotics and business automation through products that include the CoroBot(r) product line. For more information, please visit www.coroware.com.
The names of actual companies and products mentioned herein may be the trademarks of their respective owners. This press release is written using forward-looking statements pursuant to the Private Securities Litigation Reform Act of 1995: http://www.sec.gov/about/laws/sea34.pdf (Sec. 21E p. 223).