Yahoo Finance METROSPACES CEO RELEASES SHAREHOLDER LETTER HIGHLIGHTING 2021 YEAR END RESULTS AND ROADMAP TO EXPONENTIAL GROWTH
NEW YORK, NY, April 04, 2022 (GLOBE NEWSWIRE) -- Metrospaces, Inc. (OTC Pink: MSPC) ("Metrospaces" or the "Company"), a leading a PropTech company, combining world-class real estate development organization seeking to reinvent the real estate industry using Artificial Intelligence (“AI”), Blockchain and other technologies, reported a Shareholder Letter from its CEO, Oscar Brito and its CTO, Alejandro Laplana highlighting Year End 2021 results and their Strategic Roadmap to Exponential Growth.
Dear Shareholders:
Thank you for your continued support and loyalty. It is our personal commitment to engage our shareholders with clear and consistent communication and provide timely updates. We wish to highlight our recent accomplishments and strategic roadmap.
During the past quarter, we have achieved several strong milestones, including:
Successful advancements in the Metrohouse beta testing
Achieved Beta Testing of the Metrocrowd real estate property tokenization technology, with exceptional results
Approaching completion of the first stage of construction of our luxury properties in the Dominican Republic
Conversion of our office building assets in Houston to near complete occupancy and strong Net Operating Income (NOI) increases.
Completion of the 2019 and 2020 audited financials and preparing 2021 financial reports with strong improvements
Metrospaces Strategic Leadership
The PropTech industry is rapidly evolving and having strong advice from top leaders in the industry is key to Metrospaces success. Members of our strategic leadership team, including Advisory Board member and blockchain pioneer Thomas Carter, have spent much of the past quarter creating a strong strategic and operational plan to leverage all Metrospaces assets and intellectual property.
Metrohouse – Co-Living Platform
Beta Testing continues with very positive feedback from its Discord channel. User results led to significant feature improvements, including identification and addition of key neighborhood attributes, client reviews and blog functions to share local events and experiences with the digital nomads who form the core of Metrohouse subscribers. Strong interactive testing and debugging have improved user experience ensuring a smooth launch. Metrohouse plans to launch in the Second Quarter 2022 in a selected city, thirty units available for lease. Subsequent market launches in the coming quarters, are planned to include between 120 to 150 total units for rent.
Metrocrowd – Tokenization platform
Metrocrowd Beta test began on the Fourth Quarter of 2021. Rigorous testing of the platform and feedback from the Test Users have identified key features, which allowed overall enhancements in the user experience, ease of use and general flow. To date Beta Testers have rated the platform five stars out of five on functionality. These successes are driving the design team at Shokworks to further build out the platform for its commercial launch later this year. This revolutionary technology will not only cater to third-party real estate owners and developers but will also allow the company to tokenize our own internal real estate assets.
Acquisitions and Investment Strategy
We continue to grow through strategic property acquisitions and expect this strategy to continue through 2023. We will continue to support both MetroHouse and Metrocrowd launches, as well as our IoT-driven commercial property management platform. I would like to share the highlights of these developments:
Indianapolis, Indiana: Following the Metrospaces acquisition of two single family, three-bedroom homes in a growing Indianapolis neighborhood, the team made alliances with several strong real estate partners in this market and seeks to be active in this market with potential additional property acquisitions in the coming months.
Houston, Texas: The Brazos Atrium office complex continues to show 99.9% occupancy. Furthermore, our successful cost reduction strategies have yielded a 15% increase in NOI year to date.
Loma Linda, Dominican Republic: The Infinity View Villas project, which includes a 3,500 sq. ft. mansion, three luxury 3-bedroom villas and an apartment complex featuring six 1–2-bedroom units, will add a total of eighteen bedrooms of new inventory to our Metrohouse co-living platform. Phase 1 of this project is 95% complete, with completion anticipated in April 2022. We are preparing to launch the sale of fractional ownership via cryptocurrency during Q2 2022.
Balance Sheet and Capital Structure
Our CFO, Steven Plumb, has reported significant improvements in the Metrospaces balance sheet. Management is excited to share both an increase in the company’s Core Assets and Profitability and pleased to announce that Metrospaces remains in an EBITDA-positive position.
Our 2021 Annual Financial file reports show strong growth metrics and an optimistic outlook. Highlights from the filing include:
An increase in assets year over year of 2,322%, with a yearend asset balance of more than $5.1 million
An annual reduction in Convertible Debt Derivative Liability of 91.4%, with a year-end balance of $948,617
Lowered Cost of Financing Capital by over 65%
Increased Stockholder’s Equity from -$14.6 million to -$3.6 million
Close to $700K in Current Assets and Readily Marketable Securities
2021 Net Income of $8.9 million
Relisting with the SEC:
The company has completed audits of its 2019 and 2020 financials, and plans to file its Form 10-K within the next 15 days to complete its registration statement with the SEC. The audit of our 2021 financials will start on April 15th, 2022.
Communication to Shareholders
As a part of our corporate transformation, we are committed to the highest level of transparency with our shareholders. We have recently launched a blog on our corporate web site, where we share detailed company updates and industry information from our key partners, consolidating our role as a leader in the growing PropTech ecosystem. Integrity is a fundamental value at Metrospaces, we continue to research and test innovative and efficient methods to communicate our goals, projects and success with shareholder base and the industry.
Thank you for joining us as we embark upon this strategic transformation of Metrospaces.
Oscar Brito, CEO Alejandro Laplana, CTO
Relevant Links:
http://metrospaces.com/
https://shokworks.io
About Metrospaces: MetroSpaces is a PropTech company, combining world-class real estate development with cutting-edge technology. Our distinctive focus on leveraging novel technology in this space forges a uniquely valuable, transformative business. MetroSpaces seeks to reinvent the real estate industry through innovative IT solutions which solve a broad array of problems in this space. Their products and services utilize AI, blockchain and other leading-edge technologies to facilitate enhanced end-to-end management and administration, increased transparency, and heightened security property transactions. The Company tokenized offerings expects to democratize capital markets by expanding property ownership opportunities to small investors, while increasing its access to liquidity.
Offering Statement Legal Disclaimer: Metrospaces Inc. filed an Offering Statement on Form 1-A with the Securities and Exchange Commission. As of the date of this press release, the Offering Statement has not been qualified by the Commission and there can be no assurance when or if it will be. This press release is not a solicitation, express or implied, of any investment in Metrospaces for money or other consideration and none will be accepted. Further, no offer to buy securities of Metrospaces will be accepted and no funds can be received unless and until the Offering Statement has been qualified. Offers to purchase Metrospaces' securities will only be made by an Offering Circular that follows the qualification of Metrospaces' Offering Statement on Form 1-A and the qualification of such a possible offering in certain states.[HD2]
Safe Harbor Statement: Statements in this news release may be "forward-looking statements". Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions, or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and Metrospaces Inc. undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.
Metrospaces Inc. Contacts:
investors@metrospaces.com
Source: Metrospaces, Inc.
https://metrospaces.com/
