SOURCE: Modern Technology Corp

Modern Technology Corp

September 14, 2009 13:22 ET

Modern Technology Corp Announces Company-Wide Realignment With New Executive Team and Green Energy and Power Production Focus

RENO, NV--(Marketwire - September 14, 2009) - Modern Technology Corporation (PINKSHEETS: MODC) announced today it has reorganized the company and re-focused its strategic objectives. Going forward the company will specifically focus its operations and acquisition efforts solely within the energy production and alternative energy sectors.

The company has previously focused on opportunistic and horizontal sector acquisitions. These acquisitions, while promising, required far more capital and ongoing funding than current capital markets allow. The company will now focus solely on vertical applications within the energy industry and related acquisitions that are self-sustaining or have far lower capital requirements to achieve ongoing profitability.

The Company believes this more vertical and conservative approach will provide stockholders with the most advantageous path to long-term equity growth.

The Company's executive management team will be replaced in its entirety. Shareholders can expect regular updates on the company's transition, new operations, and strategic plans for the remainder of 2009 and 2010.

Shareholders will retain their current ownership in the company and no reverse or forward split of the stock will occur as part of the company's restructuring. The Company will not change its name or ticker symbol.

The Company will retain its interests in the hydrogen fuel generation and emissions control sectors and will soon make important announcements for these portfolio holdings.

The Company will retain its GreenGen Stationary Power operations as it is congruent and complementary with the company's existing products and long-term strategic objectives.

The Company will undergo a complete corporate re-branding and marketing re-design for both its holding company operations and its portfolio. Shareholders can anticipate regular and frequent updates to the company's materials, web sites, and industry marketing collateral materials.

Investors will be regularly updated with the company's improved operations, planned acquisitions, and orders and shipping status of its power generation and emission control technologies and products.

About Modern Technology Corp

MODC acquires promising technology and related operations and assets to enhance their growth and development. The company builds revenues and asset value through a model of continuous growth, income from or sale of its portfolio holdings, and technology licensing or distribution agreements. Web: http://www.moderntechnologycorp.com.

Safe-Harbor

This press release contains statements (such as projections regarding future performance) that are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties. The company's website and prior SEC and Pink Sheets filings contain various disclosures and RISK FACTORS (incorporated herein by reference) and should be read before any investment decision.

Contact Information

  • Contact:

    Modern Technology Corporation
    Investor Relations
    1.954.727.5468