Modern Technology Corp. update for H-NET subsidiary.Modern Technology Corp., a rapidly growing diversified technology development and acquisition company, released initial plans and update on its newly acquired subsidiary, H-NET.
The H-NET acquisition is complete as evidenced by the company's most recent Form 8-K Form 8-K
The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock.
See 8-K. .
The new H-NET subsidiary will immediately begin commercializing the software technology.
The H-NET web site has been completely re-designed and re-deployed.
Further, H-NET intends to pursue expansion and marketing into Europe. Multiple large chains use the H-NET software in Europe. H-NET targets European marketing expansion to capture a larger European market. Possible conversion of its core software to French and Spanish is also being investigated.
The H-NET technology has a long history of software sales and is a dominating force in the Vision Care industry. The technology provides software, Internet and business application services See ASP and Web services. . With development complete and new products ready to market, H-NET's high margin business model is ready to lift off into the $1.3 trillion Healthcare marketplace. MOTG benefits from an installed base of approximately6,500 sites and the H-NET technology serves the three largest retail vision care chains in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Companies using H-NET. NET software include Lens Crafters, Pearle Vision, Cole Vision, Eye Care Centers of America, Family Vision, Wal-Mart's Sam's Stores, Macy's Group, Bensons, Standard Optical (Canada), the Bay Group (Canada), Optica Lee Borinquin (Puerto Rico Puerto Rico (pwār`tō rē`kō), island (2005 est. pop. 3,917,000), 3,508 sq mi (9,086 sq km), West Indies, c.1,000 mi (1,610 km) SE of Miami, Fla. ) and Scrivens Optical (UK).
MOTG estimates $5,000,000 in annual software sales can be realized through domestic and international distribution of this software technology system.
Anthony Welch, Modern Technology Corp.'s Chairman, said, "Our plans and growth initiatives continued unabated un·a·bat·ed
Sustaining an original intensity or maintaining full force with no decrease: an unabated windstorm; a battle fought with unabated violence. . Our recent announcements and updates demonstrate our level of activity and clear commitment to delivering results."
Further growth in revenues and planned acquisitions from the Electronics and Distribution sector are expected to generate in excess of $25 million in 2005.
With completed transactions and the anticipated closing of ones under consideration, we expect 2005 revenue of between $25 million and $50million. With transactions under consideration for the second half of2005, we expect 2005 revenue could be between $50 million and $75million. The Company cautions that this guidance is our best, good faith estimate based on current conditions and numerous assumptions about the industry, our access to financing, the competitive and regulatory landscape and our ability to successfully complete the acquisitions.
Modern Technology Corp. acquires key technologies and synergistic synergistic /syn·er·gis·tic/ (sin?er-jis´tik)
1. acting together.
2. enhancing the effect of another force or agent.
1. companies creating revenue and cost benefit from the introduction of both nascent nascent /nas·cent/ (nas´ent) (na´sent)
1. being born; just coming into existence.
2. just liberated from a chemical combination, and hence more reactive because uncombined. and pre-existing products and technologies. MOTG creates growing shareholder equity supported by stable, strong revenues and assets. MOTG has declared both stock and cash dividends with its most recent cash dividend of $383,697 paid in March of 2004. To enhance investor awareness Investor Awareness is knowledge the investment community has of a company.  It can be looked at like this: “Do investors know about your company?” If the answer is “yes,” then it could be said that the company has “good investor awareness” and promote institutional participation, MOTG intends to list its stock on a larger national exchange as soon as is practicable.
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 operating company
A business that engages in transactions with outsiders. . 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 Accretive Acquisition
An acquisition that will increase the acquiring company's EPS.
As they are expected to increase the acquiring company's future earnings, these acquisitions tend to be favorable for the company's market price. of emerging technology or acquiring operating companies capable of benefiting from technology infrastructure enhancements or new product lines.