WAFR NEWS : COREwafer Industries, Inc. 2012 Results and CEO Update
COREwafer Industries, Inc. (PINKSHEETS: WAFR), a technology leader in semiconductors, reports 2012 results.
Total revenues for the year ended December 31, 2012 were $659,350 as compared to $712,231 for the year ended December 31, 2011.
The Company reported a net loss for the year ended December 31, 2012 of $2.3 million. This was an increase of approximately $1.6 million when compared to a net loss of $651,000, for the year ended December 31, 2011. The increase in net loss is primarily attributable legal, professional, and consulting fees in the approximate amount of $935,000; Board compensation in the amount of approximately $322,000; payroll of approximately $796,000; fees of approximately $500,000 associated with the cost to acquire financing commitments; and approximately $419,000 in depreciation and loss on disposal of assets.
Current assets at December 31, 2012 were $713,261 compared to $346,867 for the year ended December 31, 2011 and total assets increased to $14,213,921; an overall increase of $13.3 million for the year ended December 31, 2011. There was an increase in shareholders' equity of approximately $8 million for the year. The increase in assets and shareholders' equity is primarily attributable to the acquisition of Core Wafer Systems, Inc., a wholly owned subsidiary.
Open sales orders of $315,000 are expected to be invoiced and collected by the end of the first quarter of 2013.
With funding on the horizon from the anticipated filing of the Form A1 our projected revenue from the new software from CWS is $108M over the next 3-5 years with a roughly 50% profit margin. With this funding CWS has the potential to do $10-12M in gross profit, which translates to roughly $8-10M in net profits with current overhead from operations.
Words from Gary Polistena, CEO of Core Wafer Industries:
"We have continued to post our quarterly and annual financial statements and are a member in good standing on the OTC Markets Pink Current Information tier. Investors looking to find the latest information can visit our website or OTC Markets at
COREwafer Industries, Inc. (PINKSHEETS: WAFR), a technology leader in semiconductors, reports 2012 results.
Total revenues for the year ended December 31, 2012 were $659,350 as compared to $712,231 for the year ended December 31, 2011.
The Company reported a net loss for the year ended December 31, 2012 of $2.3 million. This was an increase of approximately $1.6 million when compared to a net loss of $651,000, for the year ended December 31, 2011. The increase in net loss is primarily attributable legal, professional, and consulting fees in the approximate amount of $935,000; Board compensation in the amount of approximately $322,000; payroll of approximately $796,000; fees of approximately $500,000 associated with the cost to acquire financing commitments; and approximately $419,000 in depreciation and loss on disposal of assets.
Current assets at December 31, 2012 were $713,261 compared to $346,867 for the year ended December 31, 2011 and total assets increased to $14,213,921; an overall increase of $13.3 million for the year ended December 31, 2011. There was an increase in shareholders' equity of approximately $8 million for the year. The increase in assets and shareholders' equity is primarily attributable to the acquisition of Core Wafer Systems, Inc., a wholly owned subsidiary.
Open sales orders of $315,000 are expected to be invoiced and collected by the end of the first quarter of 2013.
With funding on the horizon from the anticipated filing of the Form A1 our projected revenue from the new software from CWS is $108M over the next 3-5 years with a roughly 50% profit margin. With this funding CWS has the potential to do $10-12M in gross profit, which translates to roughly $8-10M in net profits with current overhead from operations.
Words from Gary Polistena, CEO of Core Wafer Industries:
"We have continued to post our quarterly and annual financial statements and are a member in good standing on the OTC Markets Pink Current Information tier. Investors looking to find the latest information can visit our website or OTC Markets at
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