OTC PINK: MSPC https://www.otcmarkets.com/stock/MSPC/profile https://www.otcmarkets.com/stock/MSPC/security https://www.otcmarkets.com/stock/MSPC/news https://www.otcmarkets.com/stock/MSPC/disclosure ****NEWS****
Metrospaces Announces Cancellation of Reverse Stock Split of Common Stock and Engages Boyle & Co. CPA to Become Full-Reporting
NEW YORK, NY, Sept. 05, 2018 (GLOBE NEWSWIRE) -- Metrospaces, Inc. (OTC: MSPC) cancels reverse-stock split and hires auditor to become “Full-Reporting.”
Mr. Brito stated: “The Board has decided to focus on auditing our 2016 and 2017 quarterly and yearly financial statements and has thus cancelled the reverse-stock split of its common stock. For this service, the company has engaged Boyle and Co. CPA. Our goal is to have all financial statements reviewed, audited and filed with the S.E.C. within the next 90 days. We realize that our deal with Etelix could potentially be a very important business and it will set us up for even bigger deals. For us to truly reap the benefits of such successful deals we need to be audited and a fully-reporting Company, so that we can provide our investors and capital markets the visibility and accountability the investment community is looking for.”
Metrospaces Announces a One-Time Dividend to Shareholders of Record in the Form of PureSnax International Common StockPress Release | 07/12/2018
NEW YORK, NY, July 12, 2018 (GLOBE NEWSWIRE) -- Metrospaces, Inc. (OTC: MSPC) announces that it will issue a one-time dividend in the form PureSnax (OTC:PSNXD) shares.
Mr. Brito stated: “The public listing of Etelix by way of merger with PureSnax International has so far released more than $19 million in additional shareholder value to MSPC’s balance sheet and shareholders as per yesterday’s closing price. Although we are committed to the long-term success of Etelix and are highly confident that this is just the beginning of the additional share value this merger will create, we believe it is fair that we reward our common shareholders by giving them direct ownership in PureSnax by way of this dividend. After the dividend, Metrospaces will continue to retain the majority of the PureSnax’s common stock directly. The dividend will be issued to all MSPC shareholders of record. By having done the spin-off, Etelix now has the financial tools to pursue acquisitions and world-class financing independent of MSPC’s balance sheet This means that both MSPC and Etelix will now be independent to pursue their own destiny, new acquisitions and financial structure. This is a high vote of confidence in Etelix’s current management team and its business plan. Metrospaces also announces that it will do a 150-to-1 reverse stock split, to pursue new acquisition opportunities.*** We are confident that this proposed financial structure will allow us to continue to pursue such acquisitions and growth opportunities as Etelix and provide the opportunity for dramatic increase in shareholder value and price per share. Metrospaces has also instructed its transfer agent, West Coast Transfer, to inform its shareholders of its number of shares outstanding at any given moment. As of July 11, 2018 total shares outstanding stands at 5,709,012,612.”
***Reverse split was cancelled
Etelix Becomes a Publicly Listed Company Via Reverse Take Over Press Release | 06/29/2018
NEW YORK, NY, June 29, 2018 (GLOBE NEWSWIRE) -- Metrospaces, Inc. (OTC: MSPC) announces that Etelix has been spun off as its own public company via reverse takeover of PureSnax (OTC:PSNXD)
Mr. Silva stated: “This is a huge day for Etelix and a great win for Metrospaces shareholders. Metrospaces will now own 44% of the combined company, down from 51%. However, now Etelix will have its own public market to continue with acquisitions and set its own path. PureSnax now owns 100% of Etelix, and MSPC will now own 44% of total PSNXD public capital. Not only is this a huge win for Metrospaces and our shareholders, it represents a huge arbitrage opportunity for new investors to buy into Etelix. After the reverse takeover, PSNXD will only have a total of 15 million total shares, however, there will only be 75,000 in the float, so there will be very little opportunity to buy PSNXD except through MSPC. Etelix is on its way to having another record revenue and operating profit year and we will continue to be long-term shareholders and partners of Etelix to continue to reap the rewards of this investment. With June revenue of $1.2 million and profitable, Etelix is on its way to smashing last year’s revenue and profit. MSPC will continue to have an active role in Etelix’s growth through Board Representation, continued investment and helping them with new acquisition targets. We look forward to a very long-term, successful partnership and investment.”
Etelix Closes Month of May With $1,201,102 in RevenuePress Release | 06/26/2018
NEW YORK, NY, June 26, 2018 (GLOBE NEWSWIRE) -- Metrospaces, Inc. (OTC: MSPC) announces that Etelix continues monthly revenue growth at above forecast.
Mr. Silva stated: “January to May revenue budgeted forecast was $3,800,293. However, May revenue of $1,201,102 now brings total January to May 2018 revenue to $4,493,570. This is an increase of 18% over forecast and sets the company revenue at a $14 million annual run rate, as opposed to $7.6 million in revenue for 2017. It’s been an amazing year, and the wonderful thing is that most of our recently executed interconnection agreements are not yet at full capacity. Having achieved this amazing revenue growth, while still being cash flow positive on an EBITDA basis is even more notable. This continued above-forecast growth is setting the company up for some very exciting new prospects such as the continued hiring of world-class talent as well as new potential acquisitions the company is now considering. Being able to handle this sort of revenue and operating profit growth is giving the company confidence to approach more and more companies for potential acquisitions. Although Etelix is still held as a private company, our internal valuation methods have this already be an acquisition that has surpassed all our expectations.”
NEW YORK, NY, June 19, 2018 (GLOBE NEWSWIRE) -- Metrospaces, Inc. (OTC: MSPC) announces that Etelix had best monthly revenue ever in April 2018 with $1,112,303.
Mr. Silva stated: “Management team at Etelix continues to under promise and over deliver. Our revenue forecast set up in December of 2017 had the company reaching the $1 million monthly revenue marks sometime in July-August of 2018. We achieved that mark a full 3 months ahead of schedule and have been growing revenue in 2018 at over 10% month-over-month, surpassing even our own best-case scenarios. Our meetings at the ITW conference and the interconnection agreements executed Q1 of 2018 are now starting to come into full effect. Additionally, we see this growth gathering steam as just last week we executed 9 new agreements for a total of 16 agreements that have been achieved from the ITW conference in May of 2018, while still have at least another 6-9 agreements in different stages of negotiations.”
Metrospaces Issues Shareholder Letter
June 1, 2018
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 management’s ability to properly run a publicly traded company and keeping its shareholders and market informed in a timely manner on the company’s 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.
Etelix’s growth has basically monopolized our capital and human resources to a point of completely starving the rest of the company’s 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 shareholder’s and management’s mid- and long-term vision and again, THANK YOU FOR YOUR SUPPORT.
Metrospaces Names Italo Segnini as Independent Board Member to Etelix's Board of Directors
May 3, 2018
NEW YORK, NY, May 03, 2018 (GLOBE NEWSWIRE) -- Metrospaces, Inc. (OTC: MSPC) incorporates 26-year Telco Sr. Management Vet Italo Segnini to lead Etelix to next level.
Mr. Silva stated: “Italo is a high-caliber 26-year telco veteran having held senior management positions at Movistar, Televisa Telecom, and Millicom. Italo’s unique experience in leading revenue growth at such world-class companies will lead our revenue growth to the next stage, as well as allow us to set the stage for growth via acquisitions. We expect Italo to help Etelix in its continuing transformation into a world-class international telco company. Italo will be key in continuing to sign on Tier-1 telco companies, as well as the sourcing of potential acquisition targets. In a very short time, Italo’s industry experience and relationships are starting to come into effect, already bringing in several potential clients that in advanced conversations, as well as having made 2 introductions to potential acquisition targets. We are very proud to have Italo on our Board and certainly expect big things from him.”
Italo Segnini LinkedIn Profile: https://www.linkedin.com/in/italo-segnini-75068310
Metrospaces Announces Etelix March 2018 Revenue of $837,195 for Record Company Month
April 25, 2018
NEW YORK, NY, April 25, 2018 (GLOBE NEWSWIRE) -- Metrospaces, Inc. (OTC: MSPC) announces another record revenue month in March 2018 for Etelix.
Mr. Silva stated: “Our fundamentals continue to be very strong, our growth continues strong and Etelix management continues to hit record revenue numbers. Management’s budget revenue for April 2018 was $778,906; however, the company did 7% higher revenue than our forecast, representing a year-over-year growth of 14%. The recently executed deals with Vodafone India and other such agreements are now starting to hit their stride and are really making a difference in our growth forecast. With this March revenue number, we are currently approximately 2% above our first quarter revenue forecast for 2018 and growth rate is picking up. Total first-quarter revenue for 2018 was $2,204,827 in comparison to $1,959,113 in 2017. Additionally, we take this opportunity to notify our shareholders that last Friday, April 20th, 2018 we received a formal email from OTC Markets regarding missing items and a need to reformat some of our financial statements. Actual financial statements were not brought to question, only some of our formatting. We expect to revert to OTC Markets their request in the next 2-3 days and are looking forward to receiving “Current Information” status shortly thereafter.”
Metrospaces Announces Filing of Financial Statements and Disclosures for 2016 and 2017 on OTC Markets
March 29, 2018
NEW YORK, NY, March 29, 2018 (GLOBE NEWSWIRE) -- Metrospaces, Inc. (OTC: MSPC) announces that the Company has filed all necessary financial statement and disclosures filings with the OTC Markets.
Mr. Brito, Metrospaces CFO, stated: “We have now filed all our due financial statements and disclosures with the OTC Markets for 2016 and 2017. This would bring our financial disclosures to current status. We still need to file a legal opinion letter which will be provided by Waller Law in the next day or so. With this letter of opinion, we complete all requirements by OTC Markets to gain “Current Information” status and thus have the “Stop” sign removed from our ticker symbol on the OTC Markets. With this new status on the OTC Markets, the Company will gain a bigger audience and target for future potential shareholders that were previously unable to invest in our common stock through certain broker-dealers due to our ‘No Information’ status. Additionally, we announce that we have converted all aged notes that were up for conversion into common stock, and that the rest of the aged and other notes will be redeemed in cash. The last conversions happened Monday, March 27, 2018.”
Metrospaces Announces Delay of Filing of Financial Statements Until Next Wednesday, March 28th 2018
March 23, 2018
NEW YORK, NY, March 23, 2018 (GLOBE NEWSWIRE) -- Metrospaces, Inc. (OTC: MSPC) announces delays in their financial statement filings with the OTC Markets.
Mr. Brito, Metrospaces CFO, stated: “It bears us great disappointment to not have met the established deadline of March 22nd, 2018 to file our financial statement on the OTC Markets. To be perfectly frank with our shareholders, there was a lot of work and detail needed from different sources that was not made available to us in time to meet the deadline. Switching of transfer agent and the termination of our corporate counsel and hiring of new counsel was a big cause in the delay. The firing of our long-time corporate legal counsel made a big difference in the flow of timely information. As a side note, Mr. Barry Miller, Esq. was terminated on March 13, 2018 due to his advice and role in the structuring of the 3(a)10 with CF3. I forward our shareholders, however, that all financials and disclosure will come in line with expectation and all the press releases and 8K’s filed regarding our business, terminated 3(a) 10 transaction and acquisition of Etelix, including audited financial statements presented in the February 20th, 2018 8K.”
Etelix Announces Execution of Vodafone India Deal and 2018 Record February Revenue of $726,365
March 16, 2018
NEW YORK, NY, March 16, 2018 (GLOBE NEWSWIRE) -- Metrospaces, Inc. (OTC: MSPC) announces that Etelix increased February revenue by 13% over January.Mr. Leandro Iglesias, Etelix CEO, stated: “Our business plan continues in frank execution with continued and notable revenue growth not just year-over-year but also month-over-month. Continued reinvestment from operation has been key in growing revenue and this is a trend that must continue in order to meet our mid-year estimates or $1 million in monthly revenue. February 2018 revenue closed at $726,365 in comparison to $644,147 in 2017. This represents an increase of approximately 13% year-over-year and an increase of also 13% month-over-month. Additionally, we signed Vodafone India into our carrier VoIP exchange business, setting the first step of a potentially multi-service relationship. Vodafone India has over 211 million retail subscribers interconnected to Etelix’s international VoIP exchange and value-added services. I will congratulate the rest of our management team for a great job as the company continues to meet its short, mid and long-term revenue and profit growth. The company foresees continue reinvestment of operating profits to continue to grow the business, as the company will continue to generate more revenue opportunities that it is able to finance with cash flow.”
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.
Metrospaces www.metrospaces.net is 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 Latin America. The company’s current projects are located in Buenos Aires, Argentina, and Miami, USA. 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.
Current Global Operations