SOURCE: Modern Technology Corp.

March 20, 2006 15:07 ET

Modern Technology Corp. Estimates 300% Revenue Growth Over Same Period Compared to Prior Year

OXFORD, MS -- (MARKET WIRE) -- March 20, 2006 -- Modern Technology Corp (OTC BB: MOTG), a diversified technology development and acquisition company, announced today it estimates revenues for the three-months ending March 31, 2006 to be approximately $4,620,000, or an approximate 300% increase over the same period last year which reported revenues of $1,547,793 for the three months ending March 31, 2005.

Anthony Welch, Modern Technology Corp's Chairman, said, "As we have committed, we deliver. Our model of continuous growth brings us closer to true economies of scale and higher earnings potential for 2006. We are poised for impressive results even without further acquisitions. Fortunately, we have acquisitions under consideration now, that if completed, will place us above $65,000,000 for 2006."

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

    Modern Technology Corp
    1420 North Lamar Blvd.
    Oxford, MS 38655 USA
    Phone: +1.662.236.5928
    Fax: +1.662.236.7663
    Web: www.moderntechnologycorp.com