SOURCE: CoroWare, Inc.

May 12, 2008 07:52 ET

Innova Robotics & Automation Announces Name Change to CoroWare

Company Realizes New Vision and Receives New Stock Trading Symbol

REDMOND, WA--(Marketwire - May 12, 2008) - Innova Robotics & Automation, Inc. (OTCBB: INRA) announced today that it has changed its name to CoroWare, Inc. and has received its new stock trading symbol from NASDAQ. Effective today, CoroWare's stock will trade under the ticker symbol (OTCBB: CROE). The change realizes the Company's new direction set forth in early October 2007 to focus its resources on professional services, solutions and products through its wholly owned subsidiary, CoroWare Technologies.

CoroWare's name was chosen because it represents the Company's original vision of developing and marketing computer and robotics software and hardware solutions and products. CoroWare's logo, a registered trademark, displays a large "C" with sweeping ends to symbolize forward motion that encompasses the industries from which the CoroWare name was created.

"CoroWare has built a solid brand name for business and robotics products and services," said Susan Eustis, president of Wintergreen Research. "I believe rebranding the Company highlights that strength and squarely positions them to tackle those markets."

CoroWare Technologies, acquired by Innova in 2006, has an established presence in software solutions development and management. Since CoroWare's start in 2003, the company has organized into three business units: Microsoft Practice, Enterprise Solutions, and Robotics and Automation. The Microsoft Practice continues to be a key pillar of the company's technical and business strategy. The recent launch of CoroWare's Near-Shore Outsourcing practice has helped expand both the Enterprise Solutions and the Robotics and Automation business units.

"Our Company has undergone significant changes in the past year, and this name change represents a culmination of these changes," said Lloyd Spencer, interim CEO of CoroWare, Inc. "By focusing on the CoroWare brand and capitalizing on the brand recognition that CoroWare has built over the past four years, we are better positioned to grow the Company's value for our shareholders, customers and employees."

About CoroWare

CoroWare is a software and software professional services provider and mobile robotics integrator that delivers high value services and innovative solutions to maximize technology investments and achieve customers' goals. CoroWare has depth of knowledge and breadth of experience in developing software and solutions for mobile service robotics and business automation through products that include the CoroBot product line. For more information, please visit

The names of actual companies and products mentioned herein may be the trademarks of their respective owners. This press release is written using forward-looking statements pursuant to the Private Securities Litigation Reform Act of 1995: (Sec. 21E p. 223).

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