CoroWare, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2016
June 10, 2016 at 09:39 am EDT
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CoroWare, Inc. reported earnings results for the first quarter ended March 31, 2016. For the quarter, the company reported revenues were $1,646,187 compared to $798,541 during the three months ended March 31, 2015, an increase of $847,646 or 106.1%. Loss from operations was $301,721 for the 2016 Period compared to $188,692 for the 2015 period, an increase of $113,029 or 59.9%. Net loss for the 2016 Period was $7,321,907 compared to net loss of $1,314,691 for the 2015 Period, an increase of $6,007,216. The increase in net loss is primarily a result of an increase in loss on the change in derivative liabilities and an increase in loss on extinguishment of debt.
CarbonMeta Technologies, Inc. is a research and development company. The Company is engaged in developing technologies related to remediation of organic wastes that can generate economically sustainable hydrogen, high-value carbon, and construction industry products. It offers Carbon Nanotubes, which is a black-clustered powder that is used as an additive in various materials. The Companyâs wholly owned subsidiaries include CoroWare Technologies, Inc. (CTI), CoroWare Robotics Solutions, Inc. (CRS), Robotic Workspace Technologies, Inc. (RWT), Carbon Source, Inc. (CS), CoroWare Treasury, Inc. (CWT), and CarbonMeta Research Ltd. (CMR). CSâs principal business is waste reclamation technologies and processing. CMR is focused on the development of technologies and solutions for processing organic wastes and generating sustainable hydrogen and high-value carbon products. CWT is engaged in acquiring technologies and subsidiary businesses related to waste processing.
CARBONMETA TECHNOLOGIES, INC. 
