SOURCE: Modern Technology Corp

November 15, 2005 12:16 ET

Modern Technology Corp Announces Update on Strategic Initiatives and Projected Revenues

OXFORD, MS -- (MARKET WIRE) -- November 15, 2005 -- Modern Technology Corp (OTC BB: MOTG) a rapidly growing diversified technology development and acquisition company, announced the current status on its various strategic initiatives and a synopsis of its revenue expectations for 2005. The strategic initiatives include the company's internal projects relating to developing new revenues from its acquired technologies.

2005 Revenues Expectations

Our newest acquisition, InMarketing Group, is under closing now and is expected to add $11,000,000 in profitable revenues. Our other subsidiaries and current sales expectations will likely bring our internal revenue totals around $20,000,000. We have transactions underway now that, if completed, will catapult revenues over $50,000,000 for 2005 and will likely allow us to list the company on a national exchange as a result of the transaction.

New Technology Acquisitions

In June 2005 the company announced a strategic alliance agreement with UTEK Corporation. This alliance provides the company with nascent, market-ready technologies. The company intends to commercialize them through its existing sales and distribution channels. The company has market-ready technology already under consideration for immediate acquisition. The company projects significant revenues from these technologies. Of particular note are technologies relating to energy conservation. MOTG has new energy-related technologies under consideration now in order to bring them to market.

Commercialization of H-NET technology

We have installed both developers and support teams. Sales and Marketing activities have begun and we expect to see growing momentum in both market exposure and subsequent sales.

The H-NET technology is complete, market-proven, and has a long history of software sales as a dominating force in the Vision Care industry. The H-NET technology has an installed base of approximately 6,500 sites and serves the three largest retail Vision Care chains in the United States. Companies using H-NET.NET software include LensCrafters, 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) and Scrivens Optical (UK).

Energy Conservation Initiative

International Sales and Marketing of DeMarco Energy Systems

The Energy Conservation and Alternative Energy sectors are rapidly growing sectors in which MOTG has a significant stake through its relationship with DeMarco Energy Systems of America, Inc. (OTC: DMES) We have made progress in establishing our worldwide distribution network of geothermal and alternative energy sales channels. We expect to release details of these new international operations in the very near future.

This new energy initiative will result in new revenues and exposure for both MOTG and DeMarco Energy. MOTG provides executive consulting, marketing support, business infrastructure and related services while DeMarco Energy provides its patented geo-thermal solutions. MOTG intends to acquire additional energy-related technologies and make them available to DeMarco energy for commercialization as appropriate.

About Modern Technology Corp

Modern Technology Corp, a diversified technology development and acquisition company, builds revenues through continuous growth, strategic acquisitions, and commercialization of nascent technology. MOTG improves operating efficiencies through the elimination of cost redundancies and realized synergy between subsidiaries. MOTG also commercializes new technology and provides to its subsidiaries new product lines, operations infrastructure, and significant intellectual capital. The company's mission is to build shareholder value through a model of continuous growth. Web Address: http://www.moderntechnologycorp.com

Safe-Harbor Statement

This press release contains statements (such as projections regarding future performance) that are forward-looking statements 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, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.

Contact Information

  • Company Contact:
    Megan Peterson
    1-662-236-5928