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CoroWare Reports Second Quarter 2015 Earnings

CoroWare, Inc. (OTC PINK: COWI) today announced its financial results for the quarter ended June 30, 2015.

For the quarter ended June 30, 2015 ("the 2015 Period"), CoroWare reported revenues of $1,355,239, which increased 246.4% from $391,213 in Q2-2014 ("the 2014 Period"), and gross profit of $285,232, which increased 836.2% from $30,468 in the 2014 Period.

Gross revenues continued to improve during the second quarter as CoroWare further accelerated growth of its Supplier Support Desk and continued growth of its R&D Support consulting services businesses.

Gross profit percentage also improved at 21% gross margin during the 2015 Period compared with 7.8% during the 2014 Period.

Total Current Assets were $427,601 on June 30, 2015, and increased 331.2% from $99,161 on December 31, 2014), predominantly due to increased Accounts Receivable.

"The consulting services group accelerated the sales and delivery of its Supplier Support Desk and R&D Support consulting services, further improving its gross revenues, gross margins, and accounts receivable," said Lloyd Spencer, CEO of CoroWare, Inc. "Looking forward, we have laid a strong foundation for growth in this and next year by expanding...