NEW YORK, NY, June 30, 2013) - COREwafer Industries, Inc., (PINKSHEETS: WAFR) announces that the following letter is being released to its shareholders:
Dear Shareholders:
As you know by now, I took over the role of CEO for the Company just a few days ago. It is at this time that I want to take a moment to formally introduce myself to all of our shareholders and explain our plans for the future for building a profitable organization and an even stronger business relationship with you.
First, a little about myself: I have served as Senior Vice President and Senior Director for several highly successful software companies over the last 15 years. My track record in building high-growth software companies encompasses all aspects of leading, building, growing, funding, and managing. My leadership helped each of those companies grow exponentially. Now, at COREwafer Industries, I will take the company?s proven software and traction to scale.
Since embarking on my role as your CEO I have spent a great deal of time assessing the company?s business in terms of development, revenue and future partnerships which will allow us to compete at the highest levels within this industry. Now, with our needs identified, we have a strategy in place which will help us meet those needs.
Our first step is to work more toward leveraging the benefits of being a public company and take advantage of the fragmented market. Rapid consolidation over the next few years is nearly certain and we are ready to use our public company status to become a leader in this industry.
I do recognize that those of you who have followed the Company over the years are used to the typical, lengthy manufacturing process and associated business model. That model doesn?t work here. We are in the software business, fighting for every dollar of revenue we can get. As such, as we build up our pipeline, there will be peaks and valleys of visibility. Software upgrades take from three to six months to create, test and launch. During this process there won?t be much to see or to report on for several months and then, the miracle appears.
While I know it has been a long road for most shareholders, I must request a bit of patience in this first year. You won?t see new software or an upgrade for a few months, but you will see the momentum building and we will look to keep you updated on all of our progress.
We have challenges on every front?from large and ?rich? competition to bad economic situations for everyone to this industry moving very fast. We also face increasing demands from the customers and we cannot sit on the sidelines hoping that everything will be all right. We need to be pro-active, both in fundraising and in development for the future.
I recognize that many of you may have a number of additional questions and to answer them the most effective way I know how, we are arranging to hold a conference call for shareholders for which you will be receiving notification from our stock transfer agent.
In the meantime, please visit our new website frequently to watch our progress. We are looking forward to a very exciting 2013 and beyond!
Cyril Moreau