HOLLYWOOD, FL / ACCESSWIRE / August 20, 2015 / (WAFR) (the "Company") today announced that it has entered into a Letter of Intent (LOI) to acquire assets consisting of intellectual property from a biometric software innovator formed in 2004, whose software products include "undefeatable" FIPS 140-2 Suite B military grade encryption, among other ground breaking features. COREwafer Industries is a holding company engaged in acquiring, operating and managing subsidiary companies in the development and sale of superior proprietary software.
There are several steps outlined in the LOI, and after completion of satisfactory due diligence, a definitive agreement will be executed. It is expected that this definitive agreement will be in place on or before September 30, 2015.
The LOI forms the basis of an agreement which, if consummated, is consistent with the Company's strategic plan to aggressively achieve profitability and growth through insightful value added mergers and acquisitions.
About COREwafer Industries
COREWAFER INDUSTRIES, INC. (WAFR) is a holding company headquartered in Hollywood, FL, that operates and manages subsidiary companies. The goal of WAFR is to strategically acquire businesses with strong growth potential and a solid business plan in the software and technology industries. For information, visit our new website at www.corewaferindustries.com.
This release may contain "forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, as amended, and of Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief, or current expectations of COREwafer Industries, Inc. and members of its management, as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include fluctuation of operating results, the ability to compete successfully in its market segment, and the ability to complete some or all of the before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events, or changes to future operating results.
COREwafer Industries, Inc.
Teresa McWilliams, Chief Financial Officer