Third Quarter 2021 Shareholder Letter
NEW YORK, NY / ACCESSWIRE / December 14, 2021 /Metrospaces, Inc. (OTC PINK:MSPC) Issues Letter to Shareholders regarding State of Affairs from CEO Oscar Brito and CTO Alejandro Laplana
Dear Shareholders:
As a part of our continuing commitment to engage our shareholders with clear and consistent communication, we wanted to provide you with a timely update highlighting the recent advances and accomplishments at Metrospaces.
During the past quarter, we have achieved several strong milestones, including:
Creating a strategic relationship with blockchain innovator Thomas Carter
Launching a robust beta of our new co-living platform, MetroHouse
Soliciting participants for the beta for the MetroCrowd tokenization platform which launches later this month
Completing the acquisition of initial residential properties in Indianapolis and furthering the growth of our investments in Houston and the Dominican Republic
Producing strong Q3 financial statements which showcase the positive future for the company and its subsidiaries.
Addition of Thomas Carter to the Metrospaces Advisory Board
The world of proptech is rapidly advancing and changing and having strong counsel from the best leaders in the industry is important to the Metrospaces success strategy. Thus, we're thrilled to have added blockchain pioneer Thomas Carter to the Metrospaces Advisory Board. As the founder and chairman of Dealbox, Carter created the first democratized VC firm. He is recognized worldwide for his ability to analyze investment platforms and regulatory compliant tokenized securities and see their potential. We are thrilled that Carter sees such potential in Metrospaces and its subsidiaries.
Metrohouse -Co-Living Platform: Metrohouse began a robust beta during Q4 2021. A team of beta testers have been engaged in aggressive testing of the platform, allowing our partners at Shokworks to further polish and fine-tune the user experience prior to our planned launch. Metrohouse plans to launch during Q2 2022 with an inaugural launch in one city, with more than 30 units available for lease. As our subsequent markets launch during the coming quarters, we plan to have between 120-150 total rentable units.
Overall, beta testing feedback has been exceptional, with nearly 90% of those participating finding both browsing and response time of the platform to meet or exceed speed expectations. Testers have suggested enhancements in listings to make the information available superior to that shown on other leasing sites.
Metrocrowd - Tokenization platform: The Metrospaces and Shokworks teams are moving rapidly to complete the development of our proprietary real estate tokenization platform, Metrocrowd. This revolutionary resource will not only cater to third-party real estate owners and developers but will also allow the company to be a principal tokenizing our internal assets. Metrocrowd is actively accepting beta testers with a planned beta launch before the end of 2021. Those interested in testing the platform should apply here.
Acquisitions/investments:
We continue to grow via strategic property acquisitions and expect for this strategy to continue through 2022. The premise of these acquisitions will continue support of both the MetroHouse and Metrocrowd launch as well as our IoT-driven commercial property management platform. Below are highlights of those developments from the past quarter.
Indianapolis, Indiana: MetroSpaces has acquired two single family, three-bedroom homes in a growing Indianapolis neighborhood. These will serve as a part of the initial inventory for MetroHouse. We've secured strong real estate partners in this market, and will seek to continue to be active in this market with potential additional property acquisitions in this area in the coming months.
Houston, Texas: Following the purchase of the Brazos Atrium office complex, our property team embarked upon aggressive cost-saving practices. By reducing costs and increasing the building's occupancy, the NOI for this asset has increased by 14% since acquisition.
Loma Linda, Dominican Republic: The Infinity View Villas project, which includes a 3,500 sq. ft. mansion, three luxury 3-bedroom villas and an apartment complex featuring six 1-2 bedroom units, will add a total of 18 bedrooms of new inventory to our Metrohouse co-living platform. Phase 1 of this project should be completed during Q1 2022 with all three phases complete during that year. We're preparing to launch the sale of fractional ownership via cryptocurrency during January 2022.
Balance Sheet and Capital Structure:
Our new CFO, Steven Plumb, is continuing to make improvements in the Metrospaces balance sheet. Our new leadership team is excited to share both an increase in the company's core assets, as well as a renewed profitability, now that Metrospaces is in an EBITDA-positive position.
Our 3rd Quarter Financial Reporting showcased some strong growth metrics and optimistic outlook. Highlights from that filing include:
An increase in assets from $213K on 12/31/20 to $4.8M in 3rd Q
Lowered Convertible Debt Derivative Liability from $11M on 12/31/20 to $830K in 3Q
Lowered Cost of Financing Capital by over 65%
Increased Stockholder's Equity from -$14.6M to -$3.4M
Over $700K in Current Assets and Readily Marketable Securities
Year-to-date Net Income of $9.3M
Relisting with the SEC: The company has nearly completed the audit of its financial statements and expects to be able to file a registration statement with the SEC, to be fully-reporting, before end of January 2022.
Communication to Shareholders: As a part of our corporate transformation, we are committed to the highest level of transparency with you, our shareholders. We've put in place a team of professionals, including public relations and digital marketing agencies, that will allow us to improve and refresh our communication strategy to ensure the prompt and accurate flow of information to our audiences. These communications leaders will guide the flow of information for Metrospaces to ensure that all our key partners are informed, included and engaged.
Integrity is one of our fundamental values at Metrospaces, and we continue to research and pilot innovative and efficient methods of communicating our goals, projects and successes with you. Thank you for joining us as we embark upon this metamorphosis of Metrospaces.
Oscar Brito Alejandro Laplana
Relevant Links:
http://metrospaces.com/
https://shokworks.io
Safe Harbor Statement: Statements in this news release may be "forward-looking statements". Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions, or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and Metrospaces Inc. undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.
Metrospaces Inc. has filed an Offering Statement on Form 1-A with the Securities and Exchange Commission. As of the date of this press release, the Offering Statement has not been qualified by the Commission and there can be no assurance when or if it will be. This press release is not a solicitation, express or implied, of any investment in Metrospaces for money or other consideration and none will be accepted. Further, no offer to buy securities of Metrospaces will be accepted and no funds can be received unless and until the Offering Statement has been qualified. Offers to purchase Metrospaces' securities will only be made by an Offering Circular that follows the qualification of Metrospaces' Offering Statement on Form 1-A and the qualification of such a possible offering in certain states.
Metrospaces Inc.
CONTACT:
investors@metrospaces.com
www.metrospaces.com
SOURCE: Metrospaces, Inc.
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