CoroWare, Inc. (OTCQB: COWIE) announced today that it has joined the Marijuana Business Association (MJBA) as a corporate sponsor and has launched a new business initiative and subsidiary corporation that is focused on developing business intelligence and data analytics software and services for the legal cannabis industry.
"The Marijuana Business Association is pleased to have CoroWare as a Corporate Sponsor," said David Rheins, CEO and Co-Founder of MJBA. "The breakneck speed at which the legal cannabis industry is growing means that its business participants have an urgent need for reliable business intelligence and data analytics. We are thrilled to be working with CoroWare, and together look forward to establishing best business practices and actionable market data and insights for this exciting emerging industry."
In support of this initiative, CoroWare launched a new subsidiary, CoroBIDA Technologies, that will develop business intelligence and data analytics software and solutions for the regulated cannabis industry. CoroWare and CoroBIDA Technologies will not grow, harvest, distribute or sell cannabis or any substances that violate United States law or the Controlled Substances Act, nor does it intend to do so in the future.
"This new initiative builds upon CoroWare's investments in business intelligence and data analytics," said Lloyd Spencer, president and CEO of CoroWare. "CoroBIDA Technologies' solutions will help producers, processors and retailers gain greater visibility into the legal cannabis industry and help them optimize their business operations and investments."
Availability of CoroBIDA Technologies' business intelligence and data analytics solutions will be announced later this year.
About The MJBA:
The Marijuana Business Association (http://mjba.net) is a member-driven trade organization serving the recreational marijuana, medical cannabis and industrial hemp markets. The voice of legal marijuana in America, MJBA's online publications and engagements serve 1,000,000+ Consumer and MJ B2Business readers monthly.
MJBA Mission
To establish integrity and legitimacy create common market standards, provide market intelligence, and develop best ethical business practices for participants in the emerging legal marijuana industry -- including commercial hemp, medical marijuana and recreational marijuana for adults.
About CoroWare
Headquartered in Bellevue, Washington, CoroWare is a solutions integrator with expertise in business intelligence solutions and consulting services; IT consulting, software development and testing services; and affordable and open mobile robotics solutions for customers in the Americas, Europe and Asia.
For more information on CoroWare and its products and services, please visitwww.coroware.com.
Safe Harbor Statement: This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act") (http://www.sec.gov/about/laws/sea34.pdf (Sec.21E p. 223). In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act, and are subject to the safe harbor created by the Act. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. Forward looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to be materially different from any future performance that may be suggested in this release. CoroWare takes no obligation to update or correct forward-looking statements, and also takes no obligation to update or correct information prepared by third parties. The names of actual companies and products mentioned herein may be the trademarks of their respective owners.
Investor Relations
CoroWare, Inc.
investor@coroware.com
(800) 641-2676, option 3
SOURCE: CoroWare, Inc.
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