ATWEC Technologies Board of Directors Holds Annual Meeting

Rhea-AI Summary

ATWEC Technologies (OTC PINK:ATWT) held its annual Board meeting on December 29, 2022, in Memphis, TN, where it elected new directors Stuart Barton and Baldev Saini. The company is integrating its subsidiaries and focusing on sales opportunities in North America and the Middle East. A new operating plan for 2023 was approved, emphasizing child safety technology. ATWT plans to secure working capital through a registered offering and a short-term bridge loan, with negotiations ongoing with a California VC firm.

Positive

• Election of experienced directors Stuart Barton and Baldev Saini, enhancing leadership.
• Focus on integrating subsidiaries and expanding sales into new markets.
• Strategic plan to enhance child safety technology potentially leading to increased sales.

Negative

• Dependence on securing working capital through external financing, which poses risks.
• Uncertainty surrounding the completion of a forensic audit before moving forward with offering.

Board of Directors Elects New Members, Establishes 2023 Operating Plan

MEMPHIS, TN / ACCESSWIRE / January 12, 2023 / ATWEC Technologies, Inc. (OTC PINK:ATWT), a global technology company selling child safety technology to schools and daycare centers, held its year-end annual Board of Directors meeting on December 29 at its Memphis corporate headquarters. Excitement was high among the Board members, with the unanimous election of the two new directors Stuart Barton and Baldev Saini, key insiders joining the team last year from SafeBus Technologies, Inc.

The Company spent the majority of 2022 integrating its two newly acquired subsidiaries into the framework of the Company and is now aggressively pursuing sales and marketing opportunities throughout North America and the Middle East.

Darnell Stitts, ATWEC's President and CEO, reelected Chairman of the Board, was eager to discuss the Company's new direction, "Our strategic plan to add cutting-edge child safety technology to our existing product lines is finally beginning to show dividends. We have been working diligently to combine efforts with our new subsidiary SafeBus Technologies, and together our team is better equipped to market and sell much-needed child safety services to customers around the world."

Other key corporate matters discussed at the meeting included integrating the manufacturing operations of subsidiary Assembled Products, establishing a fresh and creative marketing and branding campaign across the entire Company, and establishing a comprehensive operating plan for the upcoming 2023 fiscal year.

The Board unanimously voted on the plan, which includes detailed steps for obtaining vital working capital, required for the Company to achieve its sales and marketing efforts in 2023 and beyond. The Company has entered into negotiations with a California VC firm to commence a registered offering by mid-2023, upon completion of a forensic audit of the Company and its subsidiaries. Although specific details of the plan were not disclosed, the proposed financing would include a short-term bridge loan, to be obtained in first quarter 2023.

Newly elected director Stuart Barton was enthusiastic at the meeting, ready to discuss the Company's bold new direction, "Everybody knows how difficult the last two years have been, with the pandemic, and the resulting disruption to businesses and schools - not just here in the US, but to people across the globe. We have worked hard to combine the resources of three companies, and put together a cohesive plan for one firm, with a global vision. I am confident that our efforts today have resulted in a strong and visionary operating plan for ATWT, to carry us through the next three years."

Shareholders and other investors can find the disclosure related to the Company's annual Board of Directors meeting, along with its new operating plan on the OTC Markets website, as well as the Company's website, www.atwec.com.

About ATWEC Technologies, Inc. (OTC PINK: ATWT):

ATWEC Technologies, Inc. is a child safety and security technology company, headquartered in Memphis, TN, in business since 1979. ATWT has developed three unique child safety devices which protect children while they are being transported, both to and from schools, events, and homes, and gives parents and administrators ‘peace of mind.' ATWT has been issued patent number 7,646,288, B2 for its KV-3 system by the US patent office, and its business model is associated with legislation designed to mandate these systems for school and other vehicles, on a state-bystate basis. The KV-3 and the Kiddie Alert™ backup systems are currently being sold to customers across the globe. The Company recently announced their new "state of the art" KV-4 platform which uses RFID technology and their new cloud-based system to easily track children on vehicles to and from home. The Company trades on the OTC Markets under the symbol "ATWT," and the Company's website is www.atwec.com.

About SafeBus Technologies, Inc. (Private: WY):

SafeBus Technologies, Inc. is a privately held WY corporation providing child safety solutions to schools and day care centers, a $250B market worldwide. Headquartered in Atlanta, the Company combines the latest hardware with creative software development to provide safety and security products for school transport vehicles, now in high demand for today's dangerous world. Millions of children travel to school every day, and parents will always worry about their well-being. Bus drivers have great responsibility, and accidents happen, both on the bus and on the road. Schools have been looking for ways to better control their transportation operations, for increased security, for better record-keeping and for improved safety. Founded in 2012, the Company has spent considerable time, effort, and capital designing and developing its new SafeBus Alert™ products, for sale to customers in the US and abroad. The cutting-edge systems include the SafeBus Alert™, SafeBus ETA™ and SafeBus LiveVue™ product lines, targeting day care and K-4 elementary schools that transport children to and from school daily. The Company utilizes the latest iOS technology, is highly affordable and easy to use, and now gives administrators current alerts and accurate reports, while giving parents ‘peace of mind' in knowing that their kids are safe. The Company's website is www.safebustech.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". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in the Company's disclosure information. All company or product names used are the property of their respective owners and may be the trademarks (TM), service marks (SM), or registered marks (R) of other companies, and are used for information purposes only and to their owners' benefit, without intent to infringe.

CONTACT:

ATWEC Technologies, Inc.	SafeBus Technologies, Inc.
Darnell Stitts, CEO & Chairman of the Board	Stuart Barton, CEO & Director
admin@atwecgroup.com	stuart@safebustech.com

SOURCE: ATWEC Technologies, Inc.

View source version on accesswire.com:
https://www.accesswire.com/734957/ATWEC-Technologies-Board-of-Directors-Holds-Annual-Meeting

FAQ

What recent leadership changes occurred at ATWEC Technologies?

ATWEC Technologies elected new directors Stuart Barton and Baldev Saini during its recent Board meeting.

What is included in ATWEC Technologies' 2023 operating plan?

The 2023 operating plan emphasizes securing working capital and expanding marketing efforts for child safety technology.

How is ATWEC Technologies planning to secure funding?

The company is negotiating a registered offering and a short-term bridge loan with a California VC firm.

Why is ATWEC Technologies focusing on integrating its subsidiaries?

Integration aims to strengthen its market position and enhance product offerings in child safety technology.