Metropolitan Worldwide, Inc. Buys More NicStic Stock and Rescinds Transaction in Germany.FT LAUDERDALE, Fla. & HUNENBERG, Switzerland -- Metropolitan Worldwide, Inc. (Pink Sheets: "MWWM" or the "Company") has informed Dr. Stefan Triebler that it is recinding the agreement, entered into on January 19, 2005, whereby Dr. Triebler would have allowed the placement of a 5,000,000 Euro first lien mortgage on certain real estate owned Real Estate Owned Property owned by a lender - usually a bank - after an unsuccessful sale at a foreclosure auction. This is common because most of the properties up for sale at these auctions are worth less than the total amount owed to the bank: the minimum bid in most by him in Quedlinburg, in the state of Saxon-Anhalt, Germany, and would have transferred the proceeds of the mortgage to the Company in exchange for 1,500,000 shares of the Company's common stock. The Company's action came after a review of the title to the property revealed that the property is already encumbered Encumbered A property owned by one party on which a second party reserves the right to make a valid claim, e.g., a bank's holding of a home mortgage encumbers property. by a first mortgage. The Company and NicStic AG originally contemplated building a production, warehousing and logistics facility on Dr. Triebler's property to be used for the production of NicStic(TM). In the meantime Adv. 1. in the meantime - during the intervening time; "meanwhile I will not think about the problem"; "meantime he was attentive to his other interests"; "in the meantime the police were notified" meantime, meanwhile an alternative German site has been identified and secured by NicStic AG and the Company. The 1,500,000 shares were never delivered to Dr. Triebler and will be cancelled. The Company may undertake action to recover costs and damages. During Q1 and Q2 MWWM instead acquired 1,000,000 shares of common stock of NicStic AG, bringing the Company's ownership of the NicStic(TM) Swiss patentholder to 2,100,000 shares, or 7% of the total shares outstanding. NicStic AG common stock is traded in limited trading in Switzerland on the telemarketing telemarketing, the practice of selling goods or services to customers by means of the telephone or of surveying consumer preferences in telephone conversations. site of UBS UBS Union Bank of Switzerland UBS United Bible Societies UBS United Blood Services UBS United Buying Service UBS Used Bookstore UBS University Business Services UBS Universal Building Society (UK) UBS Ulaanbaatar Broadcasting System Bank. The closing price of these shares on August 5, 2005, was 9.00 CHF CHF In currencies, this is the abbreviation for the Swiss Franc. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. , or approximately USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. $ 7.75. Disclaimer: Information within press release contains "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, goals, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward looking statements." Forward looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through the use of words such as: "projects", "foresee", "expects", "estimates", believes", "understand", "will", "anticipates", or that by statements indicating certain actions "may", "could", or "might" occur. All information provided within this email pertaining per·tain intr.v. per·tained, per·tain·ing, per·tains 1. To have reference; relate: evidence that pertains to the accident. 2. to investing, stocks, securities must be understood as information provided and not investment advice. Metropolitan advises all readers and subscribers to seek advice from a registered professional securities representative before deciding to trade in stocks featured within this email. None of the material within this press release shall be construed as any kind of investment advice. In compliance with Section 17(b), we disclose the holding of independently purchased shares of MWWM prior to the publication of this report. Be aware of an inherent conflict of interest resulting from such holdings due to our intent to profit from the liquidation The collection of assets belonging to a debtor to be applied to the discharge of his or her outstanding debts. A type of proceeding pursuant to federal Bankruptcy of these shares. Shares may be sold at any time, even after positive statements have been made regarding the above company. |
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