Modern Technology Corp. Announces Significant Next Phase of Corporate Development
14 June 2005
Modern Technology Corp. (OTC BB:MOTG.OB - News) a diversified technology development and acquisition company announced today the official launch of its next phase of growth and operational strategy. The company's next phase of growth centers upon the acquisition of nascent commercial technologies and introducing them into the sales and distribution channels of existing MOTG subsidiaries and partners.
Anthony Welch, Modern Technology Corp.'s Chairman said, ``As our stockholders are aware, over the past year we have met our goals and our performance record speaks for itself. We now continue executing our vision of technology acquisition and market development. We accomplish this through acquiring successful operating companies and combine these operations with the introduction of newly acquired technology products. For example, our subsidiary Sound City, has a database of over 900,000 customers nationwide and an expanding retail footprint combined with a significant inventory and distribution infrastructure. Introduction of new consumer technologies is quite straightforward for us. We recently announced an LOI to acquire a key software technology. We will release more details on that shortly along with news of other acquisitions.''
MOTG's rapid growth and success demonstrate the power of its model. MOTG acquires key technologies and synergistic companies to market or utilize the technologies. MOTG seeks to create growing shareholder equity supported by stable, strong revenues and assets. MOTG has previously declared both stock and cash dividends. The last cash dividend was in March of 2004.
About Modern Technology Corp.
Founded in 1982, Modern Technology Corp is a diversified technology development and acquisition company, building revenues by strategic acquisition and commercialization of nascent commercial technology and by the acquisition of synergistic operating companies. MOTG commercializes technology and provides to its subsidiaries new product lines, operations infrastructure, and significant intellectual capital. The company's mission is to consistently build shareholder value through accretive acquisitions of emerging technology or acquiring operating companies capable of benefiting from technology infrastructure enhancements or new product lines. For more information, visit: http://www.moderntechnologycorp.com.
Safe-Harbor Statement
This press release contains statements (such as projections regarding future performance) that are forward-looking statements 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, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Contact:
Friedland Corporate Investor Services LLC
Rebecca Hunt, Jesse Blum or Jeffrey Friedland
(212) 757-9454
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Source: Modern Technology Corporation
Source: PrimeZone
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