posted
Modern Technology Corp Acquires INmarketing Group Adding a Projected $11,500,000 to 2005 Revenues Modern Technology Corp (OTC BB: MOTG), a diversified technology development and acquisition company announced today it has acquired 51% of INmarketing Group, Inc. This new subsidiary adds an estimated $11.5 Million in 2005 revenues and a projected additional $14 Million in revenues for 2006. INmarketing Group generated $8.7 Million in revenues in 2004 and generated $5.8 Million in revenues in the first half of 2005.
Anthony Welch, Modern Technology Corp's Chairman said, "As promised to stockholders in prior updates, we now deliver. This is a superb addition to our portfolio and complements our strategy of continuous growth."
David J. Weiss and Andrew Perlmutter, Founders of INmarketing Group said, "We look forward to working with Modern Technology Corp and its family of companies to provide our loyal clients both the technological and pricing advantage they deserve. By expanding our distribution and integrating our systems, we will create new value and continue leading the Online Incentive Industry."
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.
posted
So given that we have Soundcity and IMG and DMES and soon a new company. I think based on Rev's we should be at .30-.40 very comfortably
IP: Logged |
posted
The monster acquisition news may be closer than anyone thinks!!!! What will be the reaction when it's announced???? THUNDERSTRUCK comin' up IMO:)
IP: Logged |
posted
Read the recent press & do all the due...there's plenty of hints around as to how close the next acquisition is! $40 million in revs. on top of the current $22.5 million with a tiny O/S of 47 million...the man has begun delivering the goods...from todays PR:
"Anthony Welch, Modern Technology Corp's Chairman said, "As promised to stockholders in prior updates, we now deliver. This is a superb addition to our portfolio and complements our strategy of continuous growth."
IP: Logged |
posted
Modern Technology Corp Acquires INmarketing Group Adding a Projected $11,500,000 to 2005 Revenues Modern Technology Corp (OTC BB: MOTG), a diversified technology development and acquisition company announced today it has acquired 51% of INmarketing Group, Inc. This new subsidiary adds an estimated $11.5 Million in 2005 revenues and a projected additional $14 Million in revenues for 2006. INmarketing Group generated $8.7 Million in revenues in 2004 and generated $5.8 Million in revenues in the first half of 2005.
-----------------------------------------------
I have a couple of questions. Does anyone know what MOTG might have gave up to get 51% of IN? Also, if MOTG only got 51% of IN that would come up to about 6M. Unless you all know what is going on with the other 49% that I do not. Just wondering. This to me sounds very positive for MOGT. I am pretty much in the dark on MOTG.
IP: Logged |
posted
What time today was the PR posted. I'm assuming about 4:30 EST based on Tech's post and the fact that there was no positive change in todays pps. I hope that this has some positive effect on the ppps, but considering that previous PRs have done nothing to improve the price, I'm still very skeptical as well. This is the kind of sh*t that needs to be investigated by the SEC if the MMs can still keep decreasing the pps of a company that's growing and increasing their value. I for one am going to start writing some letters to Washington if this company's stock continues to decline in the face of positve news and value. I'm fed up with the MMs and their BS manipulation, especially of viable companies like MOTG.
IP: Logged |
quote:Originally posted by Tape worm: Modern Technology Corp Acquires INmarketing Group Adding a Projected $11,500,000 to 2005 Revenues Modern Technology Corp (OTC BB: MOTG), a diversified technology development and acquisition company announced today it has acquired 51% of INmarketing Group, Inc. This new subsidiary adds an estimated $11.5 Million in 2005 revenues and a projected additional $14 Million in revenues for 2006. INmarketing Group generated $8.7 Million in revenues in 2004 and generated $5.8 Million in revenues in the first half of 2005.
-----------------------------------------------
I have a couple of questions. Does anyone know what MOTG might have gave up to get 51% of IN? Also, if MOTG only got 51% of IN that would come up to about 6M. Unless you all know what is going on with the other 49% that I do not. Just wondering. This to me sounds very positive for MOGT. I am pretty much in the dark on MOTG.
Hi Tape Worm...when they acquired 51% they acquired majority interest & therefore report "all" InMarketing Group revenues in all future earnings reports ok.
As for cost of acquisition...my notes are at work...but I do believe emich has the info...it was definitely some restricted shares if memory serves...& I'm expecting an 8K filing as well so that will give you your answer as well ok.
Keep in mind that this acquisition finally being completed proves that the CEO is a man of his word. There's an even bigger acquisition on the front burner these days. An exisiting Naz co. with no liquidity for its shareholders bringing in $40 million plus in per annum revenues is the rumoured immediate next target!
IP: Logged |
quote:Originally posted by Otttoman: What time today was the PR posted. I'm assuming about 4:30 EST based on Tech's post and the fact that there was no positive change in todays pps. I hope that this has some positive effect on the ppps, but considering that previous PRs have done nothing to improve the price, I'm still very skeptical as well. This is the kind of sh*t that needs to be investigated by the SEC if the MMs can still keep decreasing the pps of a company that's growing and increasing their value. I for one am going to start writing some letters to Washington if this company's stock continues to decline in the face of positve news and value. I'm fed up with the MMs and their BS manipulation, especially of viable companies like MOTG.
Otttoman: One of the mm's favourite tricks is to drop the pps as much as possible ahead of good news! They had some help yesterday courtesy of ARCA but appeared to be lining up to run MOTG around 1pm today(news was expected to hit during the market hours) Sadly the PR was delayed 'til after hours so the manipulators had an easy time dropping it into the close. Tomorrow should be interesting but the main thing for me is that we know longer have any doubts!
Valuation models can now be easily ascertained...we've got InMarketing signed sealed & delivered...which means close to $23 million in yearly revenues & a tiny 47 million O/S
posted
On August 10, 2005 we entered into a Letter of Intent to acquire 51% of InMarketing Group for an aggregate price of $2,000,000 under a Stock Purchase Agreement. No material relationship exists between the parties, other than in respect of the Agreement. The Purchase Price to be paid as follows: $1,000,000 to be paid in cash and $1,000,000 to be paid in the form of a Convertible Debenture. The purchase price will be adjusted on reasonable terms specified in the Definitive Agreement pursuant to a pro rata adjustment predicated on a profitable $11,000,000 in revenues for 2005 generated by the InMarketing subsidiary. We will have an option to purchase the remaining 49% of InMarketing as part of the agreement. This transaction is under final closing as of this filing. On August 15, 2005 we issued 500,000 common shares to the shareholders of InMarketing Group as a good faith non-refundable deposit towards the purchase price of InMarketing Group. This stock issuance was valued at $23,500 and is included in other assets at September 30, 2005. If we cannot come to a binding agreement with the shareholders of InMarketing Group regarding the purchase of their shares, we will expense the value of the shares that have been issued to them.
IP: Logged |
posted
People were wondering how much this would cost and what kind of dillution to expect well the dillution has already been factored sice we used 1.5 mil at least 1mil of that than there is the cd for 1mil dollars. Remember that is a cd so the higher the sp the less shares so at .10 we would be looking at 10mil shares .20 5mil you guys get the picture....the higher are shareprice the less this costs us in shres so remeber that....
IP: Logged |
quote:Originally posted by WarpedMind: Traditionally, is there a sell off before Christmas and New Year's, similar to the typical Friday sell-off?
WM: People tend to sell their losers to offset their capital gains in the entire month of December...with MOTG I believe anyone who wanted out has already got out. Now that InMarketing is closed there's no more speculation that this deal was going to fall through. If anything this sends a clear signal that Welch will be delivering an even bigger fish real soon!!!
posted
It really doesn't take a rocket scientist to figure out this is undervalued. $22.5 million in revenues. The market cap is a little over 2 million! This is ridiculous! Check out this quote, the most promising quote in any of the PRs in my opinion:
quote:The company's current growth pattern anticipates positive Earnings-Per-Share within the coming year.
I already own a large portion of this in my trading portfolio and my IRA is maxed out in MOTG. Trust me, I never talk like this about companies unless I know I'm right.
posted
Guy I am not asking anyone here to pump this company that is not my intention but please if you invest in other stock invite them to this board. I looked at R B and saw that it has gone down hill. The fact is that they don't have Jag or myself to answer their questions. Such as how much does IMG cost...therefore I answered it here. Look at IMG's website and list of clientele. then ask yourself if this company were to come out on the otc today where would it trade... At .05 we are ridiculously low. So welch who has been questioned at times by myself and others came though and what he has told us was legitimate. They were waiting for the Q to be filed and that the Q held up alot of things..Just look back and see the pop we got at the announcement of IMG. Read the last 10-k where it shows that we did rev's of around 4mil with assets of 6.8mil... On a proforma basis we are at 22.5mil and the only reason why it has to be proforma is because of when we aquired the companies....Soundcity made 11mil last year and IMG has rev's of 11.5 that is 22.5mil in revenues...with a os of 47mil... On another note who nocked down my member rating? No hard feelings
IP: Logged |
posted
Scanned the ragingbull board...those guys that are speaking negatively don't even know that MOTG's fiscal year end is June 30th!!!
I mean come on...I'm all for open discussion but they seem to think this closing date of InMarketing means that the entire $11.5 million is pro-forma only!
This acquisition has now officially closed in MOTG's 2nd quarter & if the big rumoured $40 million Nazdaq company acquisition & ensuing statutory merger closes this month or at worst very early in the new year we're undervalued to the extreme IMO!!!!
IP: Logged |
Ameritrade has been sucking with MOTG news. I've got a trouble ticket open with them about it, but so far, they haven't taken responsibility for it.
IP: Logged |