Business
COROWARE ANNOUNCES NAME CHANGE TO OPEN ROAD SHIPPING
COROWARE ANNOUNCES NAME CHANGE TO OPEN ROAD SHIPPING.
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[{"type":"text","content":"\n\nv\\:* {behavior:url(#default#VML);}\no\\:* {behavior:url(#default#VML);}\nw\\:* {behavior:url(#default#VML);}\n.shape {behavior:url(#default#VML);}\n\n\n\n Coroware ANNOUNCES\nName Change to Open Road Shipping\n\nIn\nDiscussions to Acquire Interest in Logistics and Transportation Company\n\nBellevue, WA – February 21, 2017 – CoroWare, Inc.\n(OTC PINK:COWI) today that the CoroWare, Inc. formally changed its name to Open\nRoad Shipping effective January 27, 2017.\n\nThe\ncompany name was changed to reflect the company’s business focus changing to the\nlogistics and transportation industry, including third-party logistics\nmanagement, brokerage and order fulfillment, shipping and warehousing, supply\nchain management, and transportation asset tracking.\n\n\n\nAccording\nto the U.S Department of Transportation, the trucking industry is highly\nfragmented, with over 90 percent of 110,000 carriers managing a fleet of 6 or\nfewer trucks, and more than 97 percent of carriers managing 20 or fewer\ntrucks. In addition to industry\nfragmentation, increased requirements for liability insurance and regulatory\ncompliance has created opportunities for consolidation of smaller carriers and\nstreamlining costs through the adoption of web-based logistics management\ntools.\n\n\n\nDuring\nthis transition period, Open Road Shipping and its investment partner have been\ncooperatively launching a joint venture company which will acquire traditional\ncarrier and brokerage service businesses, as well as start-ups that are\nrevolutionizing the logistics and transportation industry with products and\nservices based on disruptive technologies such as mobile-based freight\nbrokering and Industrial Internet of Things (IIoT) for freight tracking and\nmonitoring.\n\n\n\nOpen\nRoad Shipping is actively pursuing joint venture acquisitions with a private\ncompany that is engaged in shipping, logistics and related services and\nproducts,\n\n\n\nThe name change does not affect the rights of the company's\nstockholders. The company's common stock will continue to trade under ticker\nsymbol \"COWI\" on OTC Markets. \nOutstanding stock certificates are not affected by the name change and will\nnot need to be exchanged.\n\n \n\n\n\nAbout Open Road Shipping, Inc.\n\n\n\nOpen\nRoad Shipping, Inc., formerly known as CoroWare, Inc., is focused on...