The lockup agreement specifies that there will be no dilution through October 31, 2022.
Dover, DE, Sept. 23, 2022 (GLOBE NEWSWIRE) -- Metatron Inc. (OTC Pink: MRNJ), a mobile and web technology pioneer having developed over 2,000 apps on iTunes and Google Play, is pleased to announce that the Company has extended the existing moratorium on conversions and non-dilution for an additional 30 days.
The lockup agreement specifies that there will be no dilution through October 31, 2022. During the moratorium period corporate debt is being renegotiated and restructured. The Company is pursuing strategic avenues to help build value for shareholders.
CEO Joe Riehl commented: "Since the beginning of September there has been no dilution and now the Company is able to announce that an extension is providing that there will be no dilution during the entire month of October. I firmly believe that with the value we are adding to Company as well as our vision and determination for the Company that we are strategically positioning ourselves for an amazing end of year wrap up as we head towards the close of 2022 and looking forward to substantial new successes throughout 2023.
Since establishing our new Artificial Intelligence Division, we've already gotten one acquisition under our belt, working to secure more favorable terms with lenders that have both immediate and far-reaching impact, and are already looking at adding our next acquisition. The Company would like to emphasize that we are in a new era for Metatron and we will continue to make adding value for shareholders a number one priority."
The Company continues to work with Geek Labs Holdings Limited to tweak Metatron's first AI acquisition for the final reveal as well as discuss the Company's potential second major acquisition. More updates on these fronts are coming soon. Please visit our corporate Twitter account often: https://twitter.com/MetatronInc
Forward-Looking Statements: 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 need for additional financing, which is not assured and which may result in dilution of shareholders, the company’s status as a small company with a limited operating history, dependence on third parties and the continuing popularity of the iOS operating system, general market and economic conditions, technical factors, 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. Metatron does not grow, sell or distribute any substances that violate United States Law or the controlled substance act.