Metrospaces Announces Record Net-Earning for 2nd Quarter of 2018
September 06 2018 - 7:19AM
InvestorsHub NewsWire
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New York, NY -- September 06, 2018 -- InvestorsHub NewsWire --
Metrospaces, Inc. (OTC: MSPC) has a record net income for the 2Q
quarter of 2018.
Mr. Brito stated: During the 2nd Quarterly earnings period,
Etelix USA.com, our majority-owned subsidiary was sold to Puresnax
International, a publicly listed company. As payment for the
transaction, Puresnax International gave Metrospaces “Pay-in-kind”
securities in the form of 6,136,840 shares of its publicly traded
common stock. The publicly traded value of this payment was
$14,421,593, as per the last trading day of the economic period
ending in June 30, 2018. The Company acquired its stake in
Etelix USA.com for the price of $2,040,000, thus the transaction
nets the Company a net income, based on a balance net increase, of
$12,181,456 for the quarter, adding approximately $0.0021 worth of
net assets on a per share basis. As a result, our balance
sheet increased from -$1,572,707 to $9,769,964 during this 3-month
period. Nonetheless, our investment in Etelix is still in its
infancy, and we think we will hold our position for the
long-term.
Now that Company has set Etelix on an independent road, it will
start focusing hard and strong on finding or creating a new
opportunity like Etelix. The industries we are taking a
stronger look at are cannabis-related real estate, including
companies with assets and/or important revenue. Additionally,
the boutique hotel is an industry we are looking at with a lot of
interest. These transactions are still being reviewed, but with now
management will put a stronger focus on a new acquisition.
These deals usually take time since they require not just the right
assets and/or business model, but also the right management team
that we feel we can work together to create great companies
together.
About Etelix.com USA, LLC
Etelix.com USA (http://www.etelix.com/) is
a Miami-based, FCC-licensed voice, SMS and data/hosting operator.
The company’s main products and services are international voice
wholesale, data and hosting services as well as residential and
commercial triple-play provider. The company was founded in
2007 and has been profitable since inception.
About Metrospaces
Metrospaces www.metrospaces.com is a
publicly traded private equity firm that invests in
real estate development projects as well as operating
companies with strong real estate components. It is
operated by an elite group of real estate and investment
professionals and entrepreneurs located in New York City,
Miami and Buenos Aires. Company shareholders have
extensive careers in real estate and business
financing worldwide, and have funded projects both
in the America’s and across Europe valued in excess of US
$550Million.
Metrospaces’ majority shareholders have partnered with
Investors on Elite properties including The London BLVGARI 5
Star Hotel, and is currently involved in negotiations for the
development of several Elite luxury properties in South
America.
Among Metrospace partners are Architects, Real Estate
Developers, Agents and Attorneys of the highest standing, with
extensive experience in the global property market.
Metrospaces was originally founded by
company President Oscar Brito.
Relevant Links:
http://metrospaces.com/
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.
Company Contact:
Tel: (646) 630-0927
Investor Relations: investors@metrospaces.net
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