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Metatron, Inc. Announces Second Quarter 2010 Results(November 01, 2010)
SAN DIEGO, CA -- (Marketwire) -- 09/17/10 -- Metatron, Inc. (PINKSHEETS: MRNJ) released its Quarterly Report for the three month period ending June 30, 2010 , which can be viewed on the Pink Sheets website at http://www.otcmarkets.com/pink/quote/quote.jsp?symbol=MRNJ
2010 vs. 2009
Total Liabilities decreased to $637,621 for the three month period ended June 30, 2010 from $4,142,791 for the three month period ended March 31, 2009, a 91% improvement.
Shareholders' Equity increased to $7,331,710 for the three month period ended June 30, 2010 from $3,403,500 for the three month period ended March 31, 2009, a 115% improvement.
Second Quarter 2010 vs. First Quarter 2010
Total Liabilities decreased to $637,621 for the three month period ended June 30, 2010 from $655,921 for the three month period ended March 31, 2010, a 3% improvement.
Shareholders' Equity increased to $7,520,010 for the three month period ended June 30, 2010 from $7,331,710 for the three month period ended March 31, 2010, a 3% improvement.
Company management is proud to report Revenues have been increasing steadily as Metatron celebrates its first year in operation.
Total Income for the three month period ended June 30, 2010 increased to $55,571 from $34,790 for the March Quarter, a 60% increase. Net Income/Loss improved 57% to ($127,073) in the Quarter ended June 30, 2010 from ($296,394) in the Quarter ended March 31, 2010. Total Costs decreased from $182,644 in the June Quarter from $331,184 in the March Quarter, a 45% improvement despite additional programming costs incurred in adapting all i-Mobilize existing apps to the new iPhone 4 operating system.
Revenue increases have continued through the first two months of the 3rd Quarter with weekly revenues as follows: Week ended August 1, 2010 - $4,355; August 8 - $4,514; August 15 - $5,422; August 22 - $6,618; August 29 - $8,149 for a monthly total of $29,058, a 22% improvement over July revenues which were $23,896.
Discussion and Outlook
During the Second Quarter the company focused on developing a software update to accommodate the new iPhone 4 operating system changes and updating all published apps so they can be operated on the new phone. This gives Metatron the advantage of having one of the first and largest app libraries available for iPhone 4 users. Also, the software update is universally compatible with iPads and the new iPhones. This means that each app i-Mobilize produces can be used on both devices, increasing the revenue value of each app and decreasing the amount of time i-Mobilize spends on uploading apps for approval since one app can be uploaded for both iPad and iPhone 4 categories.
i-Mobilize apps are expected to be compatible with the recently announced Apple TV product.
During the 2nd Quarter i-Mobilize experienced a decrease in the time it takes to go through the app approval process, which has assisted the Company in presenting more apps for sale as quickly as possible.
Metatron is also in the process of seeking investment that will enable the hiring of more programmers, which will result in increasing the number of apps processed and having a direct positive effect on revenues. Current negotiations with investors will necessitate doubling the number of authorized shares to 600 million. The investment is expected to substantially increase revenue and strengthen i-Mobilize's position as the leading producer of self-help apps.
Only a portion of the additional shares will be issued, leaving Metatron with a supply of shares available for employee bonuses, acquisitions, or stock dividends -- all of which would likely be in the form of restricted shares and should be strategically beneficial to the company.
Metatron management is pleased with the pace of daily revenue growth and expects to post good revenue growth for the year ended December 2010, assuming no unexpected expenses or problems arise between now and then.
The Company has also added the following new content libraries:
Rising Star Studios: 12 new apps produced for children. Rising Star Studios is the 5-time Emmy Award winning producer of the popular Auto-B-Good series.
My Yoga Videos: 40 new Yoga apps produced by MyYogaVideos.
Payton Kane: 20 new dating and relationship apps by Payton Kane, the host of the Seduce and Conquer radio show, the #1 dating advice radio show in the world.
Sage Hope: 10 new self-apps by Sage Hope, author and leader in the motivational speaking field.
On the Mike with Mike Sherman: 50 new apps featuring celebrity and recording artist interviews and performances including Justin Bieber, Akon, T-Pain, Snoop Dogg, Pussycat Dolls, Lady Gaga and many others.
i-Mobilize provides proprietary digital app development, publishing and content distribution for all major mobile device platforms. Established in 2009 with a fast-growing content library of movies, music, books, television, classic programming, and special interest titles, i-Mobilize is capitalizing on the burgeoning mobile apps download industry, projected to exceed 4.5 billion downloads worldwide generating $6.7 billion this year; and an estimates 22 billion downloads generating $72 billion by 2013 according to Gartner, Inc., the world's leading information technology research and advisory company. Headquartered in San Diego, CA, i-Mobilize (www.i-mobilize.com) is a division of Metatron, Inc., a diversified holding company of businesses that transact through the Internet and mobile devices.
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. For more information, visit www.Metatroninc.com.
Forward-Looking Statements: 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 needfor additional financing, which is not assured and which may result in dilution of shareholders, the company's status as a small company with a limited operating history, dependence on third parties and the continuing popularity of the iPhone operating system, general market and economic conditions, technical factors, receipt of revenues, and other factors, many of which are beyond the control of the company.
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