Modern Technology Corp Releases 2008 Interim Fourth Quarter Financial Results Reporting Sales of $29,000,000
2009年1月31日 - 1:05AM
Marketwired
Modern Technology Corporation (PINKSHEETS: MODC) announced today it
released its interim financial results for the period ending
December 31, 2008. The company's complete financial statements will
be posted on or before 15 February 2009.
The company's revenues for 2008 were approximately $29,000,000
with net profits of approximately 3% of gross. The company's gross
revenues and net profits are somewhat lower than projections due to
the sudden and dramatic downturn in the worldwide economy. This
downturn has affected all sectors including and notably electronics
and distribution. Sales and demand appear stable at this point and
the company is confident sales will remain strong and anticipates
remaining profitable. The company believes its new products and
technology, particularly its hydrogen generator systems, will
facilitate strong revenue growth in 2009. The Company has
2,000,000,000 shares authorized with approximately 650,000,000
shares issued and outstanding.
Financials and Disclosure information will be posted pursuant to
paragraphs (a)(5)(i) to (xiv), inclusive, and paragraph (a)(5)(xvi)
of Rule 240.15c2-11. Additional disclosures will be made on a
frequent and ongoing basis.
Investors can expect timely updates on the following:
-- Sales projections for 2009 will be announced
-- Various international distributors for the Gen-H Hydrogen Injector
System will be announced
-- Additional portfolio acquisitions are under review. Should these
acquisitions occur, revenues will be increased another $5-$15 million
dollars.
-- The company will announce a new cancer detection system design
incorporating significant advances in both patient test throughputs and
cell sample scan speeds.
-- New marketing initiatives to pathologists based on revenue sharing
models for cancer detection scans.
-- Details on new distribution, management services and new energy-
related initiatives will be released.
About Modern Technology Corp
MODC acquires promising technology companies and related assets
to promote their growth and development. The company provides
interim management and related services to its portfolio and client
companies. It builds revenues and asset value through a model of
continuous growth and derives further income from appreciation of
its portfolio and licensing or revenue-sharing agreements. Web:
http://www.moderntechnologycorp.com.
Safe-Harbor
This press release contains statements (such as projections
regarding future performance) that are forward-looking as defined
in the Private Securities Litigation Reform Act of 1995. Actual
results may differ materially from those projected as a result of
certain risks and uncertainties. The company's web-site and prior
SEC filings contain various disclosures and RISK FACTORS
(incorporated herein by reference) and should be read before any
investment decision.
Contact: Investor Relations 1.954.727.5468
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