MEMPHIS, Tenn., Jan. 22, 2013 /PRNewswire/ -- ATWEC Technologies, Inc. (OTC Markets: ATWT), a US-based child safety company, today announced that it has hired an Atlanta-based CPA firm to complete an audit on the Company's financial condition during first quarter 2013.
The move will enable the Company to become fully reporting by making appropriate filings with the Securities and Exchange Commission, once the audit has been completed. The Company is currently reviewing several law firm candidates in order to hire legal counsel for this purpose. Once the Company becomes fully reporting, they will then be eligible to trade on the OTCBB or other exchange.
"We have been discussing this move for a long time, and now we have finally taken the first step to becoming fully reporting," said the Company's CEO Alex Wiley. "As our business is expanding, we will need to step up our reporting and disclosure, and this increased transparency will lead to more opportunities for ATWEC."
The Company anticipates that the move will lead to increased sales and marketing exposure, which in turn could lead to greater financing and acquisition opportunities with larger and more established firms.The Company signed the engagement letter with W.T. Uniack & Co. CPA's, P.C. late last week. Terms of the deal were not disclosed. The certified public accounting firm is licensed in Georgia and Ohio, and has two locations in Georgia. The firm will also provide the Company with review fees on a quarterly basis. Shareholders and other investors can find information on this engagement, along with the Company's Kiddie Systems™ products and services, on the Company's website home page, www.atwec.com. Safe Harbor Statement This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and 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. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected".