Business
Metrospaces August 2021 Shareholder Letter
Metrospaces August 2021 Shareholder Letter.
About this update from Metrospaces, Inc.
[{"type":"text","content":"\n NEW YORK, NY, Aug. 19, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire --  Metrospaces Inc. (MSPC): LETTER TO OUR SHAREHOLDERS Dear Shareholders: What began as an already surprisingly positive year for the company’s economic situation continues to surprise on the upside.  The company has not only has successfully initiated its business transformation from a traditional real estate developer into a prop-tech company, but in only 8 months is now running on an EBITDA-positive.  Additionally, it has reduced total liabilities by 65% in the fist 6 months of 2021, with strong expectations to have a positive balance sheet and shareholder equity by end of 3rd quarter of this year.  However, the most exciting part of the company’s transformation is that we are clearly in a position to be a leader in the prop-tech industry, with the tokenization of real estate assets being our main driver.  We see a clear opportunity to be a transformational and innovative force in this industry. Partnership with Shokworks:  Shokworks is a world-class blockchain and crypto venture builder, with industry expertise matched by very, very few.  They have been involved in 5-6 blockchain projects with renowned success.  As a reference, Shokworks’ notable clients include industry leaders such as Cryptobucks, the world’s first payment platform to accept credit cards, debit cards and crypto payments; Kinesis Money, a 1-to-1 fully allocated gold and silver bullion-backed monetary system that includes a yield engine, money transfer, exchange and physical and digital debit card that has generated over $10 billion in transactions since inception and has over 70,000 users, currently; and Compass Mining, a Bitcoin-first, decentralized hashrate growth and strengthening the network security system by helping more people learn, explore and mine bitcoin.  This track record gives us the confidence that we have the IT partner that could help us become the most successful player in the real estate tokenization industry. Metrohouse  - Co-Living Platform:  We began the development of the co-living platform at the beginning of May of this year.  The development phase has been happening within the expected time fr...