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Book value of 11 cents. Low outstanding shares of only 15.07 million. Very low float of 1.41 million. Growing revenues. This one seems underpriced at .028.
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August 25, 2005 12:31:32 (ET) OXFORD, Miss., Aug 25, 2005 (PRIMEZONE via COMTEX) -- Modern Technology Corp. (MOTG, Trade), a diversified technology development and acquisition company, announced meeting its revenue projections for mid-year 2005 and issues a general update on the company's progress and future.
Results to date: In less than one year of executing its new, expanded business plan, the company has delivered to investors superb results. The company exceeded its 2004 projections by delivering to stockholders revenues of $10,000,000 and current assets of $7,000,000.
The company recently entered into a Letter of Intent to acquire InMarketing Group. This new subsidiary adds an estimated $11 Million in 2005 profitable revenues and a projected additional $13 Million in profitable revenues for 2006. InMarketing Group generated $8.7 Million in profitable revenues in 2004 and has generated $5.8 Million in the first half of 2005.
The company's pro forma 2004 revenues are therefore approximately $18,000,000 and is in range of its mid-year pro forma revenue projections of $25,000,000.
Dividends: In 2004 the company paid a $383,697 cash dividend. The company has paid stock dividends in addition to cash dividends. In October of 2001, the company paid a stock dividend of 403,000 shares in our portfolio company, Scientio, as part of a spin-off transaction. As of June 30, 1999, the company distributed a stock dividend of 403,000 shares in our portfolio company, Coral Development Corp., as part of a spin-off transaction.
The company intends to pay dividends as appropriate and as part of its anticipated subsidiary spin-off strategy. As the company's subsidiaries mature and grow, a public spin-off transaction will be considered. Each stockholder in MOTG would receive stock in the new public spin-off company in addition to stock they already own in MOTG. The company's long-term plan is for stockholders to realize strong capital appreciation from their MOTG stock as well as the stock paid to them as part of the spin-off transactions.
Internal Cash Flow: One of our assets is a Convertible Debenture in DeMarco Energy Systems, Inc. This debenture is planned to generate over $1.5 Million in cash for MOTG and our interests are further secured by the patents and rights to key geothermal technologies owned by DeMarco Energy Systems (Other OTC:DMES). (www.demarcoenergy.com). This asset serves as a mechanism for generating internal cash-flow as needed.
Future Growth: In June 2005 the company announced a strategic alliance agreement with UTEK Corporation. This alliance provides the company with nascent, market-ready technologies. The company intends to commercialize them through its existing sales and distribution channels. The company has market-ready technology already under consideration for immediate acquisition. The company projects significant revenues from these technologies. The company's subsidiary Sound City (www.soundcity.com) is in the process of tripling its retail footprint and continues to add product lines. InMarketing Group is expected to continue its strong year-on-year growth and profitability. The company expects ongoing synergy-based cost reductions as well as increased revenue growth resulting from the synergies between the subsidiaries.
The company has other acquisitions under consideration that can easily take revenues beyond $50,000,000 for 2005.
-------------------- Let's make some money now !!
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MOTG spent most of the past year between 15 and 40 cents and with a book value of 11 cents it should go back up. It is good for swing plays too right now.
-------------------- Let's make some money now !!
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I was watching the L2 on MOTG today and there were 95000 shares traded at low of .034 and high of .036, last price .036, when it almost instantly jumped to 2,194,700 shares traded low of .0285 high .036 and last price of .031.
What could that mean if anything?
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Modern Technology Corp. Featured as Company of the Week by Herd on the Street
Wednesday September 14, 8:00 am ET
OXFORD, Miss., Sept. 14, 2005 (PRIMEZONE) -- Modern Technology Corp. (OTC BB:MOTG.OB - News), a rapidly growing diversified technology development and acquisition company, announced that it is a featured company of the week by Herd on The Street. To view the profile, visit: http://www.herdonthestreet.com/
The company surpassed its 2004 goals with revenues of $10,000,000 and current assets of $7,000,000 and recently entered into a LOI to acquire InMarketing Group (http://www.inmarketinggroup.com), adding an estimated $11 Million in 2005 profitable revenues and a projected additional $13 Million in profitable revenues for 2006. InMarketing Group generated $8.7 Million in profitable revenues in 2004 and has generated $5.8 Million in the first half of 2005. The company expects to finalize this transaction in September.
The company's pro forma adjusted 2004 revenues are anticipated to be approximately $18,000,000 and pro forma revenue in excess of $20,000,000 for 2005 without further revenue acquisitions.
The company's subsidiary Sound City (http://www.soundcity.com), is expanding its retail footprint and continues to add product lines as prime season for sales approaches.
InMarketing Group is expected to continue its strong year-on-year growth and profitability. The company expects ongoing synergy-based cost reductions as well as increased revenue growth resulting from the synergies between the subsidiaries.
Modern Technology Corp. acquires key technologies and synergistic companies creating revenue and cost benefit from the introduction of both nascent and pre-existing products and technologies. MOTG creates growing shareholder equity supported by stable, strong revenues and assets.
The company has declared dividends in the past with its most recent cash dividend of $383,697 paid in March of 2004.
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This is a good "trading stock", but it may be ready to move quickly higher. Waiting on the earnings report which I've heard will be very positive.
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LOL Glad to see others getting interested. I feel good about this one. I wish that it had kept running higher all the way to close today, but still, the swings are wide enough to make some quick cash.
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OXFORD, Miss., Sept. 22, 2005 (PRIMEZONE) -- Modern Technology Corp. (OTC BB:MOTG.OB - News), a diversified technology development and acquisition company, expects to meet, on a pro forma basis, its projections for mid-year revenue targets of around $25,000,000. The imminent addition of the company's latest acquisition will add a projected $11,000,000 to current operations. Acquisition candidates currently under negotiations and, if successfully concluded, are expected to add another $30,000,000 to $40,000,000 to the company's overall 2005 current pro forma projected revenues of over $20,000,000 bringing the potential total revenue totals to around $60,000,000. ADVERTISEMENT
The company exceeded its 2004 projections by delivering to stockholders revenues of $10,000,000 and current assets of $7,000,000.
The company is completing final documents to acquire InMarketing Group. This adds a projected $11 million in 2005 profitable revenues and a projected additional $13 million in profitable revenues for 2006 to our current revenues. InMarketing Group reports $8.7 million in profitable revenues for 2004 and reports $5.8 million in the first half of 2005.
Modern Technology Corp.'s 2004 pro forma revenues will be adjusted upward to $18,000,000 and our 2005 pro forma revenues without further acquisitions are expected to be around $25,000,000.
Paying of Dividends:
In 2004 the company paid a $383,697 cash dividend. In October of 2001, the company paid a stock dividend of 403,000 shares and on June 30, 1999, the company distributed a stock dividend of 403,000 shares as part of a spin-off transaction.
The company intends to pay dividends as appropriate and as part of its anticipated subsidiary spin-off strategy. As the company's subsidiaries mature and grow, a public spin-off transaction will be considered. Each stockholder in MOTG would receive stock in the new public spin-off company in addition to stock they already own in MOTG. The company's long-term plan is for stockholders to realize strong capital appreciation from their MOTG stock as well as the stock paid to them as part of the spin-off transactions.
The company's subsidiary Sound City (http://www.soundcity.com), is in the process of expanding its retail footprint and continues to add product lines. InMarketing Group is expected to continue its strong year-on-year growth and profitability. The company expects ongoing synergy-based cost reductions as well as increased revenue growth resulting from the synergies between the subsidiaries.
The company has other acquisitions under consideration that can easily take revenues beyond $50,000,000 for 2005.
This guidance is the company's best, good faith estimate based on current conditions and numerous assumptions about the company's industry, its access to financing, the competitive and regulatory landscape and its ability to successfully consummate the acquisitions under consideration.
About Modern Technology Corp.
Founded in 1982, Modern Technology Corp. is a diversified technology development and acquisition company, building revenues by strategic acquisition and commercialization of nascent commercial technology and by the acquisition of synergistic operating companies. MOTG commercializes technology and provides to its subsidiaries new product lines, operations infrastructure, and significant intellectual capital. The company's mission is to consistently build shareholder value through accretive acquisitions of emerging technology or acquiring operating companies capable of benefiting from technology infrastructure enhancements or new product lines. For more information, visit: http://www.moderntechnologycorp.com.
Safe-Harbor Statement
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Contact: For Modern Technology Corp. Friedland Corporate Investor Services LLC Rebecca Hunt, Jesse Blum or Jeffrey Friedland 212-757-9454 www.moderntechnologycorp.com
-------------------- I may be wrong, but I don't think so....
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Better pay attention to this one. Up 55% today and should really be alot higher. Good stock to play on the daily pullbacks, but may be one to buy and hold now. Who knows !!
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I don't understand the apparent lack of interest in this stock. It makes large daily moves and should move higher, depending of course on what the 10Q is like.
-------------------- Let's make some money now !!
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I still believe this company should be priced higher. It just may effect the price when the "e" shows up. I'm glad that the company is letting us know what is going on.
-------------------- Let's make some money now !!
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