ALTAMONTE SPRINGS, Fla., Nov. 7, 2006 (PRIMEZONE) -- Metropolis Technologies Corp. (Pink Sheets:MTPT) is pleased to announce today that it has recently initiated discussions and expects to close on several new revenue generating e-ticketing contracts for 2007 and beyond; terms of which will be announced within the coming weeks. The company continues to expand its business and continues to receive numerous inquiries towards its technology, which has led to the culmination of these initiatives.
President and CEO, Michael Smith stated, "The company is pleased with the response that is has received towards its technology, which has led us to increase our sales targets and projections for 2007. The interest and the new updated sales projections for 2007 has unfortunately not yet been reflected in the company's current stock price. We at Metropolis are confidant that the investing public will soon begin see the value in our company." Mr. Smith continued, "We have assembled a very talented and capable Board of Advisors which we intend to announce within the coming weeks. Our business model is one which encompasses low overhead costs and high profit margins."
About Metropolis Technologies Corp.
Metropolis has a strategic platform to capitalize with the present and future way in which businesses, associations, artists and 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.