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Metatron Inc. 2010 Business Outlook(April 02, 2010)
SAN DIEGO, CA -- (Marketwire) -- 04/02/10 -- Metatron, Inc. (PINKSHEETS: MRNJ) today released its 2010 Business Outlook to accompany its Annual Report to Shareholders, also released today. The Outlook answers some of the questions posed by shareholders during 2009 and gives guidance regarding the Company's strategy for 2010.
- Since Metatron became a public company on June 5, 2009, we have amassed an inventory of 638 apps for sale through iTunes and the App Store; an additional 50 apps in pre-launch store review; and well over 2,000 apps currently in development and scheduled for distribution in 2010. In October 2009, we only had 10 titles on iTunes with approximately 30 more titles in development.
- We have increased sales month over month and we are making revenues daily.
- We have posted year-end 2009 revenues of $200,031 and net income of $66,360 and our business is continuing to grow at an approximate rate of 30% monthly.
- We have decreased total liabilities from $6,574,085 at year-end 2008 to $4,142,791 at year-end 2009
- We have increased shareholders' equity from $20,229 at year-end 2008 to $3,403,500 at year-end 2009
We have two important patents currently pending:
- syncStream, i-Mobilize's proprietary content delivery system, is a streaming video application that allows an exponential increase in the capacity and speed of mobile application content deployment and is the first system of its kind to be approved for use on the iTunes, iPhone, iPad, and iPod Touch platforms.
- Media Match -- Our proprietary functionality that matches people by what they do, not what they say they do. Media Match determines user preferences in music, art, movies, television shows, consumer products, political or intellectual persuasions by review of phones, computers or even a server full of data, and create profiles. It not only applies to the online dating space, and could change that industry forever, but it also has applications in advertising, business development, human resources, security, and the military.
Business Strategy for 2010
Consumer reaction to i-Mobilize downloadable apps has been very promising, with many of our 638 apps currently available in iTunes and the App Store regularly appearing in the top 100 out of over 140,000 total apps offered in those venues. This excellent record of sales has been achieved almost solely through word-of-mouth since i-Mobilize has done virtually no advertising or promotion. The cost of production is also low, requiring limited programming and resources. Metatron has, therefore, decided to pursue this revenue stream aggressively.
Metatron's strategy for Cupid's Devil reflects that development of the offering to its full potential will necessitate considerable effort, additional staff, and large expenditures on advertising and promotion, with a lag time for revenues to meet or exceed costs. For this reason, Metatron management and Cupid's Devil management have decided to terminate acquisition plans. Cupid's Devil will pursue funding as an independent company but certain synergistic activities will continue under a strategic partnership with Metatron.
Metatron will focus on raising private capital in order to take full advantage of the existing opportunity to purchase or license top-tier multi-media content for release as downloadable apps for numerous platforms including iPod, iPod Touch, iPad, Android, BlackBerry, and those that are yet to be released. Private capital funding will also allow i-Mobilize to aggressively expand its business model to accommodate the broad spectrum of sales venues and production of proprietary content for individual celebrities and corporations.
While private investors can provide the funding necessary to optimize Metatron's growth rate, commercial reach and the resulting expansion of revenue, they also add additional ownership considerations.
Many of our shareholders have been extremely vocal about the increases in our authorized stock and the number of shares issued and outstanding. We are philosophically opposed to diluting our shareholders' ownership positions but until recently the availability of investment capital has made it necessary for us to use our common stock to raise capital for the development of the company. We resisted increasing our number of shares until we had no choice but to access that method of funding. We will continue to resist authorizing more shares and will seek a value-add investor who can help increase our company's growth and revenue generating capabilities.
Why is the stock price going down?
Quite simply, it is because short sellers know that the odds favor any new company going out of business. Also, it is easier to scare a shareholder into selling than it is to educate him into buying. Metatron has been in business for less than one year, so it makes a good target. We are always surprised at how many shareholders call to find out if we are still in business. The answer, of course, is a joyful "yes!" One cure for short selling is profitable operations quarter after quarter, which we feel is a reasonable if optimistic expectation for our company. Another way to limit short selling is for our shareholders to request physical delivery of their stock certificates. If most of our shareholders held their own certificates in shareholder name, instead of leaving them in safekeeping with their brokers and held in street name, it would limit the number of shares available to lend to facilitate the shorting of the stock.
On a happy note, it appears that there will be fewer than 1,000 apps available for the new iPad device when it is released, and at least four of those apps will be i-Mobilize titles that we think will be very popular sellers.
About Metatron, Inc.
Metatron, Inc. operates multi-sector businesses that transact through the Internet and mobile devices, using the power of technology to make people's lives more productive and enjoyable in today's connected world. Metatron companies operate in progressive business sectors including mobile device applications, online dating, credit card processing, next-generation relational database development, and search engine advertising optimization. Metatron's i-Mobilize division provides multi-platform digital content distribution for current and next-generation channels and devices. For more information, visit Metatroninc.com.
Any statements made in this press release which are not historical facts contain certain forward-looking statements, as such term is defined in the Private Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results of the specific items described in this release, and the company's operations generally, to differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. Moreover, neither we nor any other person assumes responsibility for the accuracy and completeness of such statements, and we disclaim any obligation to update information contained in any forward-looking statement.
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