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Metatron, Inc. Announces Third Quarter 2010 Results(November 16, 2010)
SAN DIEGO, CA -- (Marketwire) -- 11/17/10 -- 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 $510,448 for the three month period ended September 30, 2010 from $4,142,791 for the three month period ended December 31, 2009, a 711% improvement.
Shareholders' Equity increased to $7,650,142 for the three month period ended September 30, 2010 from $3,403,500 for the three month period ended December 31, 2009, a 124% improvement.
Third Quarter 2010 vs. Second Quarter 2010
Total Liabilities decreased to $510,448 for the three month period ended September 30, 2010 from $637,621 for the three month period ended June 30, 2010, a 25% improvement.
Shareholders' Equity increased to $7,650,142 for the three month period ended September 30, 2010 from $7,520,010 for the three month period ended June 30, 2010, a 1.7% 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 September 30, 2010 increased to $88,422 from $55,571 for the June Quarter, a 59% increase. Net Income/Loss improved 99% to $65 in the Quarter ended September 30, 2010 from ($127,073) in the Quarter ended June 30, 2010. Total Costs decreased to $88,357 in the September Quarter from $182,644 in the June Quarter, a 106% improvement despite additional programming costs incurred in adapting all i-Mobilize existing apps to the new iPhone 4 operating system.
Discussion and Outlook
During the Third Quarter the company continued implementing a software update to accommodate the new IOS4 operating system changes and updating all published apps so they can be operated on the new devices. Metatron has one of largest app libraries available for IOS4 users, as a result the update was a major undertaking, utilizing a large part of Company resources. The software update also included new features and is universally compatible with iPads, iTouch and the new iPhones. The added features improve the customers' experience when using our apps.
i-Mobilize apps are expected to be compatible with the recently announced Apple TV product and upcoming Desktop App Store.
During the 3rd Quarter i-Mobilize notice a slight increase in the time it takes to go through the app approval process, which has limited the Company in presenting more apps for sale compared to the previous quarter.
Metatron is still in the process of seeking investment that will enable the hiring of more programmers and acquiring more content. This will increase the number of and quality of apps processed, which is expected to have a direct positive effect on revenues.
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.
Metatron has also begun the push to promote and market our apps through various means including the engagement of a company that specializes in app marketing via traditional, viral, and "grassroots" channels.
The Company expects to be releasing new free apps that generate sales by advertising placement, effectively reaching a demographic that primarily downloads free apps, and potentially creating a new revenue stream.
Highlights of our app content library expansion:
Travel Video: Over a thousand new apps are in development that include nearly every popular travel destination and experience.
New Self-Help apps are being developed, dozens are already on sale that cover a wide range of topics.
New Health and Fitness apps are being developed featuring top stars in their field, over 20 apps on sale now include yoga, pilates, kickboxing, and cross-training.
New apps in the education field are in the pipeline, on sale now is an SAT prep app.
We have continued to increase the number of apps for the popular self-help authors Glenn Harrold and Eckhart Tolle.
The Company has also secured the rights to release historical footage never before seen by the general public and expects to have the first app using this footage on sale before the new year.
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 need for 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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