Modern Technology Corp (OTC BB: MOTG) adiversified technology development and acquisition company issued positiveEPS guidance for 2006 and reiterates its revenue goal of $65,000,000 inannualized revenues for calendar year-end 2006.
Our present Earnings-per-share is expected to improve with each passingmonth throughout 2006. If we make no further acquisitions, the companyprojects revenues of $25,000,000 and bases its EPS estimate on thisconservative figure alone. We therefore anticipate a $(0.01) or $(0.02)EPS by calendar year-end 2006. This EPS is estimated based on afully-diluted capitalization, and actual earnings-per-share may be higher.
The company has acquisitions under late-stage negotiations, that ifcompleted, will bring 2006 revenues above $65,000,000. Should the companysucceed in completing these new acquisitions, the actual EPS for 2006 on afully-diluted basis may be higher than $(0.02). Additional EPS guidancewill be released subsequent to any further acquisitions.
Our current losses are in main part attributable to the extraordinary costsrelated to acquisitions and the accompanying legal, accounting, and variousother closing costs normally associated with those activities. These costsare expected and moderate losses are anticipated for the short-termsubsequent to significant acquisitions. As we add more subsidiaries andincrease profitability among them, our losses narrow and as operationalefficiencies are increased, we obtain a positive EPS.
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Pursuant to our stated business plan and corporate vision, we achieved ourinitial base of revenues, assets, and operational subsidiaries. As of thiswriting, the company is reducing operational redundancies, consolidatingbusiness functions common to subsidiaries, and exploiting new revenueproducing strategies between operational entities.
Our synergy-based approach to operations and our model of continuous growthhave resulted in significant progress in the areas of building new revenuesand overall operational cost reductions. Shareholders will soon see thecomplete audited financials of our latest acquisition, INmarketing Group.The consolidation of revenues will not be apparent until our next quarterlyfiling.
Anthony Welch, Modern Technology Corp's Chairman said, "We haveaccomplished our stated goals and continue to move forward. In the comingmonths, we focus on profits and efficiencies. We have obtained the'critical mass' we targeted since the beginning. This year will be anexciting year for MOTG. We continue to work on new acquisitions and haveset bold, but achievable goals. We release this guidance to inform currentand potential stockholders on a regular basis."
About Modern Technology Corp
Modern Technology Corp, a diversified technology development andacquisition company, builds revenues through continuous growth, strategicacquisitions, and commercialization of nascent technology. MOTG improvesoperating efficiencies through the elimination of cost redundancies andrealized synergy between subsidiaries. MOTG also commercializes newtechnology and provides to its subsidiaries new product lines, operationsinfrastructure, and significant intellectual capital. The company's missionis to build shareholder value through a model of continuous growth. WebAddress: http://www.moderntechnologycorp.com
Safe-Harbor Statement
This press release contains statements (such as projections regardingfuture performance) that are forward-looking statements as defined in thePrivate Securities Litigation Reform Act of 1995. Actual results may differmaterially from those projected as a result of certain risks anduncertainties, including but not limited to those detailed from time totime in the Company's filings with the Securities and Exchange Commission.
Company Contact:Megan Peterson1.662.236.5928
SOURCE: Modern Technology Corp