ALTAMONTE SPRINGS, Fla., Sept. 29, 2006 (PRIMEZONE) -- Metropolis Technologies Corp. (Pink Sheets:MTPT) announced today that the company has raised its revenue projections for the 4th quarter of 2006.
Metropolis Technologies announced today that it expects to continue to experience an overwhelming response to its e-ticketing software offering in numerous regions and of significant importance, the US market. Michael Smith, President of Metropolis stated "The marketplace clearly understands our value proposition and the response has been overwhelming. As a result of the recent changes and additions to our team and our overarching technology strategy, the company's conversion of sales leads to contracts has outpaced our forecasts by over 65% for the 2006 fiscal year."
The Company announced today that recent developments in the business, which will be conveyed in soon to be announced press releases, will demonstrate that the fundamental components of our business have never been better. Smith stated "We believe that our share price and market capitalization is undervalued and not reflective of its true value. The value of our business is built on the fundamentals of corporate governance, strong management, effective partnerships and ultimately, a business model and product portfolio that will continue to demonstrate consistently increasing revenues and revenue streams with exceptional bottom line results."
The Company also released today, news that it intends to jointly announce the hiring of a Tier 1, Investor Relations Agency of Record who will undertake to strategically disseminate pertinent information on the company over the coming eight quarters. Metropolis' new IR Agency of Record will also preside over a well planned and fully integrated, mass media campaign designed to significantly increase the company's overall brand and consumer awareness levels. Metropolis intends to announce its new IR partner in early October.
In conclusion, Smith stated, "Company Management, our Board of Directors, Advisors, Strategic Partners and Suppliers are now seamlessly united. We have finally crossed the threshold from ideation, planning and testing to a new phase of ongoing client acquisitions and steadily scaling revenue streams. As a result of the maturation of our business, the company is excited to begin announcing the acquisitions of several new, revenue based, clients in the coming weeks."
About Metropolis Technologies Corp.
Metropolis has a strategic platform to capitalize with the present and future way in which businesses, associations, artists & entertainers, venues and consumers communicate, create partnerships and develop revenue generating activities and transactions within the online universe.
Our mission is to innovate -- bringing the power, ease of use and massive reach of the internet together with our constantly evolving software solutions to deliver better products, customized services and unique business solutions. Today, Metropolis is offering highly advanced, scalable e-ticketing and portal solutions to clients in North America, South America and the Caribbean with a deeper commitment to provide our products and solutions to clients and consumers on a Global scale.
This announcement contains forward-looking statements regarding Metropolis Technologies Corp. Those statements involve risks and uncertainties, and actual results could differ materially from those discussed. Factors that could cause or contribute to such differences include the future growth of Metropolis' user base and public acceptance of Internet services, rapid technological changes in the Internet sector, and global developments in the regulation of Internet services. All forward-looking statements are based on information available to Metropolis Technologies Corp. on the date hereof, and Metropolis Technologies Corp. assumes no obligation to update such statements.