ALTAMONTE SPRINGS, Fla., Oct. 18, 2006 (PRIMEZONE) -- Metropolis Technologies Corp. (Pink Sheets:MTPT) announced today that the company is currently reviewing past and current NOBO lists from ADP Investor Communications in a concerted effort to communicate directly with its shareholders and to ensure that appropriate trading practices are being adhered to within the marketplace.
Company President, Michael Smith stated, "Enhancing shareholder value is the company's core mandate. Given our steadfast commitment to our shareholders, we believe that direct communication to our constituency coupled with a thorough review of the Metropolis' Shareholder and NOBO lists will provide invaluable information to the company, protect its shareholders and ultimately invite new investment into our rapidly growing enterprise."
"Metropolis is a growing company with substantial margins and diligently controlled overheads. Our sales projections continue to be revised upwards as a continuous flow of strategic alliance and revenue based opportunities present themselves. Metropolis' Management, its Board of Directors and valued partners will take any and all precautions necessary to ensure that its market valuation will be a fair reflection of its current and future business realities."
Smith concluded, "We deeply respect the fact that we are a publicly traded company which reflects on our recently announced commitment to become a Reporting Issuer in Q1 of 2007. Now is the time to solidify our resolve to be diligent in all aspects of our business to ensure an unencumbered path to growth and ultimately to embrace and protect our highly valued shareholders."
The NOBO listing, which stands for Non Objecting Beneficial Owners, allows the company to identity a significant portion of its beneficial shareholders who maintain their ownership through a brokerage and who have instructed their broker that they do not object to the disclosure of their ownership information. The NOBO list shows a more complete equity stakeholder profile than is typically available from the Corporation's contracted Transfer Agency.
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 Corp. logo is available at http://www.primezone.com/newsroom/prs/?pkgid=2913
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (The "Act"). In particular, when used in the preceding discussion, the words "pleased," "plan," "confident that," "believe," "expect," "intend to," or "anticipate" and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the company's products and technologies, competitive factors, the ability to successfully complete additional financings and other risks described in the company's SEC reports and filings. 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.