SOURCE: ATWEC Technologies

November 13, 2006 16:39 ET

ATWEC Technologies Updates Shareholders on 504 Offering

MEMPHIS, TN -- (MARKET WIRE) -- November 13, 2006 -- ATWEC Technologies (PINKSHEETS: ATWT) announced today that the company has finalized closure of the Regulation D, Rule 504, offering. The appropriate forms were filed with the Securities and Exchange Commission on November 13, 2006. No further dilution of the float is anticipated at this time.

The company has also instructed its Designated Advisor for Disclosure to investigate the short position in outstanding shares. Recent decline in price per share suggests a larger naked short position than previously believed. Once the short position is ascertained the company will take appropriate steps to decrease the manipulation of its share price.

The company will report later in the week on contractual developments from the annual conference of the National Association of Pupil Transportation, attended last week by CEO Alex Wiley.

For more information on ATWEC Technologies, visit the company's web site: www.atwec.com.

NOTE: Certain statements made in this press release are forward-looking statements within the scope of the Private Securities Act of 1995. Such statements involve known and unknown risks. Uncertainties and other mitigating factors may influence desired outcomes. Such risks, uncertainties and/or other mitigating factors include but are not limited to new economic conditions, risks associated in product development, market acceptance of new products and continuing product demand, level of competition and other factors both known and unknown as described within this Company's reports and other filings with appropriate regulatory agencies.

Contact Information

  • Contact:
    InvestSource Inc.
    Chris Hoffmann
    949-209-8697