New York, NY - 
(NewMediaWire) - May 21, 2021 - Metrospaces, Inc. (OTC: MSPC) today issues a letter to shareholders to recap the state of our business.
LETTER TO OUR SHAREHOLDERS
To Metrospaces Inc. Shareholders:
The Company starts off 2021 with one of its best economic situations since inception. After a very difficult 2019 and 2020, the company sees once-in-a-generation opportunities to reinvent and reinvigorate the real estate market with specialized platforms and other technologies, notably in IoT, AI, Blockchain and others. Based on incredible market opportunities, JV partnerships that are being established and new internal capabilities, the company has decided to refocus its business from a luxury real estate developer to a Prop-tech company. We believe that our long-time real estate developing experience, coupled with newly acquired capabilities in tech are an explosive and unique combination to take advantage of this incredible change in the new upcoming industry revolution. We believe that opportunities to turn the real estate industry inside-out such as what AirBnB has done with hotel and staycation travel is just the beginning. To put it in short words, AirBnB would be the equivalent of Yahoo with what’s just starting now as the “Google’s” in the real estate sector.
Change of Business Plan Focus: We are already well advanced in the launching of new services as well as acquisition conversations that the Company will be announcing in due time. However, here is a previous look at specific platform launches as well as acquisitions we are in different stages of negotiations:
1. Co-Living Platform: After a rough year in 2020, the co-living industry is making a roaring comeback. There are already 2-3 established market leaders in the main cities in the US, however, we don’t see this as a “winner-take-all.” Rather, we see this as an industry that due to local management and different appeals, will have many winners. We see this industry in the likes of the hotel industry, where there will be different players by region and market segment. Our intention will be to focus on secondary cities across the US, a market that we see as well underserved, and likely will continue to be, as the dominant competitors will likely continue to focus on primary cities such as New York City, LA, San Francisco etc., due to continuous growth opportunities. We think there is still a lot of opportunities to be a dominant player in the Tier-2 cities, giving us market room to excel. As the bigger players consolidate in the main cities, we will look to consolidate in the secondary cities. We are currently in the last stage of development of the online and App platform of our Co-Living brand, MetroHouse. Additionally, we have already acquired a property in one of the cities we will begin operations, and are in different stages of negotiations to acquire 3-5 different properties to open in a second city. We expect for the service to fully launch in City #1 within 60 days, with City #2 and likely City #3 coming online within the coming 3 and 4 months, respective. We see tremendous untapped opportunities in these cities and are positioning ourselves to be dominant players.
2. Blockchain-Signature Certification Service: The company is in early-stage acquisition negotiations with a start-up company that is developing a document signature product/service focused on the real estate market (mortgage lender, real estate brokers). For a fee, this service will allow professional and individual users to certify their signatures on Ethereum and/or Bitcoin blockchain for posterity, instead of current services where signatures are self-certified by the company service provider as we see currently in market. We expect this deal to move quickly, but we are not ready at this moment to give time expectations of closing on the acquisition.
3. Other Acquisitions: The company is also looking at following deals/Companies: 1. Profitable IoT service provider that focuses on home security, garden management and other home-focused services to improve utility efficiency and security; 2. Category B Profitable co-working company with real estate assets; 3. AI mortgage document scanning software platform that scans mortgage documents and properly categorizes them to extract data that could be used for marketing and better credit-capacity determination; 4. We are also in advanced conversations with a cannabis/CBD vertical producer (farming to final product) regarding making a strategic investment.
Investment in IQSTel, Inc.: Our investment in IQSTel was originally paid for by a promissory note that the company did not have the ability to completely service in term. Therefore, in March of 2020, we entered into a settlement agreement with the seller to return a portion of common shares, keeping approximately 1,050,000, plus an option agreement to purchase up to 2.5 million additional shares. Additionally, we have established agreements that will allow the company to obtain more shares if certain value-added events are realized between the Company and IQSTel. Even though we have amazing trust and conviction and intend to be long-term shareholders of IQSTel, the Company has opportunistically sold a portion of our investment to fund the accounting, business reorganization, launching of new products as well as acquisitions. We are very pleased with the performance of that investment, and the realization of it has been a determining factor in the refocusing and relaunching of Metrospaces. Having these assets on our balance sheet will allow us to finance operations without as much dependency on 3rd party investors, thus dramatically reducing dilution.
Balance Sheet: During the last few weeks, we have been steadily paying off our convertible lenders and/or converting them into common stock in order to clean up our balance sheet. Market conditions have allowed us to convert into common stock prices of >$0.06 with a fixed number of shares issued. We realize how important it is to our shareholders to clean up our debt and bring our balance into positive territory. The note holders that have been negotiated and are under negotiation represent, between principal, interests and derivative approximately 75% of our overall liabilities. This will continue to be a top-priority as we have seen in the past how companies flourish once these convertible holders are paid off.
Management Team: The company is currently revamping and restructuring its management team. We are under negotiations and conversation with tech-savvy entrepreneurs that will join our team in taking Metrospaces to its new frontier. We have some very exciting prospects, that we will be announcing in due time.
Financial Statements and OTC Markets Disclosures: Our accountants have delivered all due financial disclosures through 12/31/20 and we expect to receive 3/31/21 by mid-next week. In parallel, our attorneys have begun the review process in order to deliver the legal opinion to become “Current” status with OTC Markets. We see as a very strong possibility to have all that done within 10 days.
Relevant Links:
http://metrospaces.com/
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.
Contacts:
Ph: (646) 630-0927
investors@metrospaces.net
Source: Metrospaces, Inc.
www.metrospaces.com
