ALTAMONTE SPRINGS, Fla., Oct. 10, 2006 (PRIMEZONE) -- Metropolis Technologies Corp. (Pink Sheets:MTPT) announced today that the company intends to become a reporting issuer in Q1 2007.
Michael Smith, President of Metropolis, stated, "As the Company enters into a rapid growth phase with high margins, the Management and the Board of Directors have unanimously decided to pursue steps necessary for the Company to become a Reporting Issuer in Q1, 2007. This decision and the selections of the Otto Law Group, our Auditor and an Investor Relations firm are testaments that the fundamentals of our business have never been better."
The Metropolis Technologies' Board of Directors believes the benefits to becoming a reporting issuer include the following:
-- Increasing Metropolis' visibility in the financial community -- Increasing to shareholders' liquidity -- Improving trading efficiency -- Enhancing Metropolis' corporate governance -- Improving Metropolis' ability to raise capital
Metropolis Technologies also announced that an Advisory Board will be created to provide guidance to the Management and Board of Directors with special emphasis on assisting the company to achieve the following:
-- Become a fully reporting issuer in Q1, 2007
-- Become an accredited issuer on at least one additional stock
exchange in 2007
-- Commit and execute on a number of proposed strategic acquisitions
and alliances in Q4, 2006 and throughout its 2007 fiscal year
-- Begin software deployment and revenue generation in two additional
foreign markets beginning in Q2, 2007
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.
The Metropolis Technologies Corporation logo is available at http://www.primezone.com/newsroom/prs/?pkgid=2913
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.