MSPC nice news out Metrospaces Announces the Engagement of Specialized Legal Firm to Seek Unwinding of 3(A)10 Transaction
GlobeNewswire•February 27, 2018
NEW YORK, NY , Feb. 27, 2018 (GLOBE NEWSWIRE) -- Metrospaces, Inc. (MSPC) announces that it has hired a specialty top NYC-Based Legal Firm in Order to Unwind 3(a)10.
Mr. Brito, Metrospaces CFO stated: “The 3(a)10 transaction announced in December 2017 is in default since no payments were made to creditors as per the agreement. Due to this default, we have engaged a top legal firm to seek the unwinding of the 3(a)10 settlement. Since no payments were made as per the 3(a)10 settlement, no shares have been issued to the counterparty to date. Additionally, the company has now changed its transfer agent from Pacific Stock Transfer to West Coast Stock Transfer. Pacific Stock Transfer was a great partner, however, this move is related to a new direction of our business plan, which we will be announcing soon in our next shareholder letter. This also translates into the fact that no shares are now available and will not be available for the 3(a)10 transaction as well as the fact that no new 3(a)10 transaction will be implemented by the company. To date, no shares have been issued, and no shares will be issued as per the 3(a)10 transaction. ”
About Metrospaces
Metrospaces www.metrospaces.net is a publicly traded real estate investment and Development Company which invests in real estate projects and operating companies with a strong real estate component. 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 has partnered with Investors on Elite properties including The London BLVGARI 5 Star Hotel, Ilal del Mar (Playa del Carmen, now part of the Viceroy Chain of Hotels) 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 and CFO Oscar Brito.
Relevant Links:
http://metrospaces.net/
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.
Contact:
Contact:
Metrospaces
Investor Relations
305-600-0407
investors@metrospaces.net
GlobeNewswire•February 27, 2018
NEW YORK, NY , Feb. 27, 2018 (GLOBE NEWSWIRE) -- Metrospaces, Inc. (MSPC) announces that it has hired a specialty top NYC-Based Legal Firm in Order to Unwind 3(a)10.
Mr. Brito, Metrospaces CFO stated: “The 3(a)10 transaction announced in December 2017 is in default since no payments were made to creditors as per the agreement. Due to this default, we have engaged a top legal firm to seek the unwinding of the 3(a)10 settlement. Since no payments were made as per the 3(a)10 settlement, no shares have been issued to the counterparty to date. Additionally, the company has now changed its transfer agent from Pacific Stock Transfer to West Coast Stock Transfer. Pacific Stock Transfer was a great partner, however, this move is related to a new direction of our business plan, which we will be announcing soon in our next shareholder letter. This also translates into the fact that no shares are now available and will not be available for the 3(a)10 transaction as well as the fact that no new 3(a)10 transaction will be implemented by the company. To date, no shares have been issued, and no shares will be issued as per the 3(a)10 transaction. ”
About Metrospaces
Metrospaces www.metrospaces.net is a publicly traded real estate investment and Development Company which invests in real estate projects and operating companies with a strong real estate component. 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 has partnered with Investors on Elite properties including The London BLVGARI 5 Star Hotel, Ilal del Mar (Playa del Carmen, now part of the Viceroy Chain of Hotels) 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 and CFO Oscar Brito.
Relevant Links:
http://metrospaces.net/
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.
Contact:
Contact:
Metrospaces
Investor Relations
305-600-0407
investors@metrospaces.net
