Coroware, Inc. Announces Earnings Results for the Second Quarter and Six Months Ended June 30, 2016
August 16, 2016 at 08:30 am EDT
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CoroWare, Inc. announced earnings results for the second quarter and six months ended June 30, 2016. For the quarter, the company reported revenues of $1,971,901, which increased 45.5% from $1,355,239 a year ago. Loss from operations was $64,003, which decreased 72.1% from $229,774 a year ago. Net income was $5,760,752 compared to net loss of $457,461 a year ago. The increase in net income is primarily a result of an increase in gain on the change in derivative liabilities and an increase in loss on extinguishment of debt.
For the six months, the company reported revenues of $3,618,088, which increased 68.0% from $2,153,780 a year ago. Loss from operations was $355,597, which decreased 15% from $418,466 a year ago.
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. 
