MSPC shareholder letter out Metrospaces Issues Sha
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Posted On: 06/01/2018 8:34:27 AM
MSPC shareholder letter out Metrospaces Issues Shareholder Letter GlobeNewswire "Press Releases"
NEW YORK, NY , June 01, 2018 (GLOBE NEWSWIRE) -- Metrospaces, Inc. (OTC PINK: MSPC) today issued a letter to shareholders addressing concerns regarding financial statements and disclosures.
LETTER TO OUR SHAREHOLDERS
To Metrospaces Inc. Shareholders:
Management is well aware of the acute concern shareholders have had regarding our delay in finalizing our Pink Current guidelines and reaching Pink Current Status on the OTC Marketplace . We realize that this concern has been an ongoing situation for few months, raising doubts on managements ability to properly run a publicly traded company and keeping its shareholders and market informed in a timely manner on the companys financial and legal status.
On this matter, we would like to assure our patient shareholders that management is working at full capacity to finalize the guidelines and is just as concerned as our shareholders regarding this delay. The break-need growth rate Etelix has experienced since our acquisition has surpassed all our expectations, and has taken us by surprised, and frankly flat-footed. We simply did not have the capital and human resources in place to handle this sort of real-business growth and still be able to handle our previous day-to-day operation. We basically went from a near stand-still in our growth and business execution to a rocket-like spur that has left us all scrambling just to catch up.
Etelixs growth has basically monopolized our capital and human resources to a point of completely starving the rest of the companys responsibilities and operations. Frankly, we are still catching up. However, we can assure our shareholders that management is working overtime to finally finish the requirements in the guideline. We are hesitant to give shareholders any time frame due to us failing to meet past guidance on time lines and dates. But, we will again stress that this is currently our absolute top priority and that management is breaking at the seams to get it finalized as soon as possible.
On a more positive note, we would like to continue to reaffirm our shareholders that our fundamental business is getting stronger every day, and that we could not be more satisfied about our current financial performance. Although, we still have a lot of work to do, we are already hitting revenue marks that we set for late summer of 2018.
On a final note, we would like to thank our shareholders for the special patience they have shown us. We are confident that they see the long-term potential we are all so hard working for will be realized. We are confident that we will continue to hit our mark in the fundamental business and that these growing pains will soon be a thing of the past, and in hind-sight will be looked at as a tremendous investment opportunity in our company. We look forward to continuing to work for our shareholders and managements mid- and long-term vision and again, THANK YOU FOR YOUR SUPPORT.
About Metrospaces :
Metrospaceswww.metrospaces.netis a publicly traded real estate investment and Development Company which acquires land, designs, builds, and develops then resells condominiums and Luxury High-End Hotels , principally in urban areas of in the US. The company's current projects are located in Miami , and Mendoza, Argentina .
Six years ago Metrospaces shareholders saw a unique opportunity to participate in several exciting property markets around the world. Through their worldwide network of highly recognized real estate entrepreneurs, the company was able to capitalize on unique real estate development opportunities. Since inception the company has leveraged those relationships along with extensive financial expertise and transformed excellence by results.
Metrospaces is a boutique real estate development company, a product of the alliance of Metrospace shareholders, along with an elite group of real estate professionals and entrepreneurs located around the world. Company shareholders have extensive careers in real estate financing worldwide, and have funded projects both in the Americas and across Europe valued in excess of US $550 Million .
Metrospaces' majority shareholders have partnered with Investors on Elite properties including The London BLVGARI 5 Star Hotel , and are 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.
Metrospaceswas originally founded by company President Oscar Brito .
Relevant Links:http://metrospaces.net/ http://www.prohotels.com/ http://www.ikal1150.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.
Metrospaces Inc. 646-630-0927 IR:investors@metrospaces.net www.metrospaces.com
Source: Metrospaces, Inc.
NEW YORK, NY , June 01, 2018 (GLOBE NEWSWIRE) -- Metrospaces, Inc. (OTC PINK: MSPC) today issued a letter to shareholders addressing concerns regarding financial statements and disclosures.
LETTER TO OUR SHAREHOLDERS
To Metrospaces Inc. Shareholders:
Management is well aware of the acute concern shareholders have had regarding our delay in finalizing our Pink Current guidelines and reaching Pink Current Status on the OTC Marketplace . We realize that this concern has been an ongoing situation for few months, raising doubts on managements ability to properly run a publicly traded company and keeping its shareholders and market informed in a timely manner on the companys financial and legal status.
On this matter, we would like to assure our patient shareholders that management is working at full capacity to finalize the guidelines and is just as concerned as our shareholders regarding this delay. The break-need growth rate Etelix has experienced since our acquisition has surpassed all our expectations, and has taken us by surprised, and frankly flat-footed. We simply did not have the capital and human resources in place to handle this sort of real-business growth and still be able to handle our previous day-to-day operation. We basically went from a near stand-still in our growth and business execution to a rocket-like spur that has left us all scrambling just to catch up.
Etelixs growth has basically monopolized our capital and human resources to a point of completely starving the rest of the companys responsibilities and operations. Frankly, we are still catching up. However, we can assure our shareholders that management is working overtime to finally finish the requirements in the guideline. We are hesitant to give shareholders any time frame due to us failing to meet past guidance on time lines and dates. But, we will again stress that this is currently our absolute top priority and that management is breaking at the seams to get it finalized as soon as possible.
On a more positive note, we would like to continue to reaffirm our shareholders that our fundamental business is getting stronger every day, and that we could not be more satisfied about our current financial performance. Although, we still have a lot of work to do, we are already hitting revenue marks that we set for late summer of 2018.
On a final note, we would like to thank our shareholders for the special patience they have shown us. We are confident that they see the long-term potential we are all so hard working for will be realized. We are confident that we will continue to hit our mark in the fundamental business and that these growing pains will soon be a thing of the past, and in hind-sight will be looked at as a tremendous investment opportunity in our company. We look forward to continuing to work for our shareholders and managements mid- and long-term vision and again, THANK YOU FOR YOUR SUPPORT.
About Metrospaces :
Metrospaceswww.metrospaces.netis a publicly traded real estate investment and Development Company which acquires land, designs, builds, and develops then resells condominiums and Luxury High-End Hotels , principally in urban areas of in the US. The company's current projects are located in Miami , and Mendoza, Argentina .
Six years ago Metrospaces shareholders saw a unique opportunity to participate in several exciting property markets around the world. Through their worldwide network of highly recognized real estate entrepreneurs, the company was able to capitalize on unique real estate development opportunities. Since inception the company has leveraged those relationships along with extensive financial expertise and transformed excellence by results.
Metrospaces is a boutique real estate development company, a product of the alliance of Metrospace shareholders, along with an elite group of real estate professionals and entrepreneurs located around the world. Company shareholders have extensive careers in real estate financing worldwide, and have funded projects both in the Americas and across Europe valued in excess of US $550 Million .
Metrospaces' majority shareholders have partnered with Investors on Elite properties including The London BLVGARI 5 Star Hotel , and are 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.
Metrospaceswas originally founded by company President Oscar Brito .
Relevant Links:http://metrospaces.net/ http://www.prohotels.com/ http://www.ikal1150.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.
Metrospaces Inc. 646-630-0927 IR:investors@metrospaces.net www.metrospaces.com
Source: Metrospaces, Inc.
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