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Modern Technology Corp Acquires Real Time, LLC.
Real Time, LLC, with projected 2005 revenues in excess of $5 Million, provides
eCommerce and eBusiness custom and modular solutions for law firms, and
businesses. RT's easy to deploy customer centric extensive product lines are
designed to enhance the Internet shopping and information exchange experience.
OXFORD, Miss., Oct. 26 /PRNewswire-FirstCall/ -- Modern Technology Corp.
(OTC:MOTG) (BULLETIN BOARD: MOTG) , a business development and acquisition
company, announced today that it has expanded its eCommerce and Information
Technology portfolio with modular and customized solutions for the law firm and
business markets.
The Golden Web Awards recognizes Real Time's Flash web site
http://www.xtremedigital.biz/ with the prestigious Golden Web Award for 2003
and 2004. Xtremedigital creates The Art of Rock and Roll site for some of the
top companies in the entertainment industry. Real Time's Metatran Products
division to launch an easy to deploy eCommerce Store creation and management
software with everything needed to ramp up sales within minutes.
MOTG will appoint Richard Ackerman as VP of Internet Marketing and Raj Lonsane
as VP of Internet Development to head up its India Teams.
Mr. Ackerman has over 15 years of senior management, sales, marketing
experience in the financial, information technology and computer software
industries. His background includes pioneering AR recovery for dozens of the
top law firms in the World; including Skadden Arps; Cadwalader; Olympia and
York Properties. In addition he holds advanced certifications in Unix System
Administration and has extensive consulting experience serving Yahoo! Store
merchants offering creative customized solutions. Mr. Ackerman researched the
possible areas for improvement for Yahoo! Store shopping cart at the behest of
Yahoo! Store's top level executives.
Raj Lonsane has over 7 years of experience in the design and implementation of
Flash, custom software design and development, in the financial, information
technology and the entertainment industries. Raj's background includes
managing teams writing software custom and modular solutions in virtually any
language including but not limited to PHP, ASP, ColdFusion, CGI, Perl, Visual
Basic, Java, JSP, XML, WML, EJB, COM, DCOM, ORACLE, SQL Server, MySQL, Access,
Windows, Linux, and Unix.
"This acquisition represents a powerful growth component for MOTG as well as
offering significant value to our other portfolio companies through RT's
internet shopping technology." said Anthony Welch, Modern Technology Corp
chairman.
Kamel Yassin, Director of Retail Acquisitions for MOTG said: "Richard Ackerman
and Raj Lonsane are a perfect fit for attracting synergistic companies to our
growing portfolio. Further, Real Time will add significant revenue-generating
technologies for Sound City, Mobile Sound, and our future retail-based
acquisitions."
"Raj and I look forward to adding value to Modern Technology Corp. in the USA,
Asia and Middle East, and bringing Internet solutions to the next level in easy
to deploy, easy to manage technologies at an affordable cost. We will offer
financing for larger projects to enable and empower merchants and other clients
to design, implement and deploy the products they need and want", said Richard
Ackerman. "Both Raj and I believe the MOTG's Forward Capitalization
acquisition model and synergy-creating vision will be attractive and empowering
to a number of companies. The strategy creates a positive growth potential and
energy for the portfolio companies, the shareholders, the client base and
Modern Technology Corp."
In August 2004, Modern Technology Corp announced it had expanded its operations
to Europe, the Middle East and Africa, under the direction of Managing Director
Colin Inker. The launch of the Asia and Far East operations positions Modern
Technology Corp to capture opportunities worldwide.
With the Real Time and the recent Sound City and Mobile Sound acquisitions,
Modern Technology Corp continues its strategy of growth through acquisitions,
market development and revenue expansion. The MOTG acquisition strategy is
based on its Forward Capitalization model that seeks to consistently build
market value while simultaneously mitigating, or eliminating, negative dilution
of common stock. MOTG recently added DeMarco Energy (PinkSheets: DMES) to its
portfolio of companies and announced a joint- venture for a national merchant
banking network with Raptor Investments, Inc. (OTC:RAPT) (BULLETIN BOARD: RAPT)
. MOTG has more acquisition under closing and will announce them in the near
future. MOTG will release details on its growth and revenue projections for
2005, expected to be in excess of $75,000,000, and its plans for listing its
Common Stock on a larger exchange in the near future.
About Modern Technology Corp.
Founded in 1982, Oxford, Mississippi-based Modern Technology Corp (MOTG) is a
business development and acquisition company, focused on growth by strategic
acquisitions and subsequent market and revenue expansion. MOTG provides
business infrastructure, substantial intellectual capital, strategic
investments, and ongoing support and revenue growth assistance to each
individual company within its portfolio. In addition, MOTG provides mentoring
and assistance through collective operations experience, significant industry
contacts, and strategic and tactical advice. The company's mission is to
consistently build shareholder equity through accretive acquisitions, to
continue providing both stock and cash dividends to its shareholders, and to
create and promote synergistic relationships among portfolio companies and
affiliates. For more information, visit the company's web site at:
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.
Media Contact:
Susan Cable
VP of Marketing
1.623.465.5929
DATASOURCE: Modern Technology Corp
CONTACT: Susan Cable, VP of Marketing of Modern Technology Corp,
+1-623-465-5929, or
Web site: http://www.moderntechnologycorp.com/
http://www.xtremedigital.biz/