Redondo Beach, CA, June 18, 2009 --(PR.com
)-- Metatron Inc. (Other OTC: MRNJ.PK - News), a diversified internet holding company focusing on Web 2.0 properties, is pleased to announce that the Company's common shares recently commenced trading on the Over-The-Counter Pink Sheet exchange.
Metatron Inc. operates diversified internet and related businesses, services and properties through partnership relationships. Its mission is to harness the power of today's online and wireless consumer interactivity to make daily life easier, more productive and more entertaining for people all over the world.
The Company's objective is to acquire its current operating partners and monetize those, and other properties, based on extensive experience and knowledge of Web 2.0, the second generation of web development and design that facilitates nearly-universal communication, secure information sharing, interoperability, and collaboration on the web.
Management anticipates that Metatron's expansion will be both horizontal and vertical -- horizontally into new affinity-focused sites and services and vertically through development or acquisitions of applications that service the frontend.
The current Metatron partner companies consist of 1) online dating site, CupidsDevil, a conglomeration of smaller dating sites operating since 2002; 2) merchant processer, Just Data, Inc.; 3) web design, development and online marketer, PB Magic, Inc., founded in 1998; and 4) mobile application developer, i-Mobilize, Inc. Each is targeted for acquisition during the 2009 fiscal year.
Joe Riehl has been appointed Chairman and CEO of Metatron, replacing Steve Crane, former interim President who has resigned from the Company.
Commenting on the Company's new status, Mr. Riehl said, "We first want to make it clear to the investment community that while Metatron itself might be relatively new, the driving forces behind it are not. Collectively, the founders of the partner companies, including myself, have worked together in one capacity or another since 1998, and many of our partners have years of solid revenue history and web experience with such household names as Mario Valente, Car and Driver, and NiNE Mobile.
"There are several reasons why we are pursuing this consolidation strategy, particularly in today's economic climate. First, strength and size are paramount in the economics of today's long-tail web environment. We feel that a larger company, combined with our new public status, will afford us easier access to capital and better opportunities to continue to execute our growth strategy.
"Secondly, web and mobile entertainment and services are interrelated more than ever. The horizontal and vertical expansion strategy involves aggregating an ever-larger core audience and monetizing that user base as much as possible. We have an aggressive agenda for the 2009 fiscal year and anticipate strong revenue growth as we officially bring our operating partners into the Metatron fold.
"As a public company, we will remain committed to timely disclosure of all material information and updating the investment community of all Company milestones, of which we expect many."
The Company also announced that its Board of Directors and majority shareholder approved the amendment to its Articles of Incorporation to change the Company's name from XRG, Inc. to Metatron Inc., and to increase the Company's authorized shares of common stock to 100,000,000 on April 24, 2009. In addition, the Board of Directors approved a 40 to 1 reverse stock split, with a record date of May 14, 2009.
Any statements made in this press release which are not historical facts contain certain forward-looking statements, as such term is defined in the Private Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results of the specific items described in this release, and the company's operations generally, to differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. Moreover, neither we nor any other person assumes responsibility for the accuracy and completeness of such statements, and we disclaim any obligation to update information contained in any forward-looking statement.