We are happy to report Apple approved another brand new app for us, Ultimate Chakra.
Eckhart Tolle app update is in review and major mega-app Glenn Harrold Ultimate Hypnosis is expected to be updated in the next week or so.
We have a number of other new apps and updates currently in review at Apple and we will start submitting Android versions next month.
The Dating and Chat apps are still in various stages of development, with the former being in late stage beta testing.
Our 2014 Annual Report is available on OTC Markets website.
http://www.otcmarkets.com/stock/MRNJ/filings
2014 was a year of transition and evolution for Metatron.
We are excited by our recent numerous App approvals and the validation of our cloud-based app system. This marks a major shift from being dependent on expensive high-level programming teams to reliance on automated cloud based app development system.
The Company is also directing its efforts to own its content instead of leasing or doing revenue shares. This is similar to the strategy of some of the larger digital distributors. If we do obtain more outside content the contracts will be structured more like the music streaming services, small amounts for downloads/views vs cuts of overall sales revenue.
The decline in revenue is largely due to the focusing of companies efforts into implementing a cloud-based app creation system, new iOS releases, as well as the re-negotiation of several key app management contracts. We are expecting revenue levels to rise again and expenses to lower as more apps are updated and new apps brought online.
Last year during contract renewals a couple of key clients decided they wanted to manage most of their apps in-house which in-turn negatively affected revenue streams, Metatron will still manage some of their apps and will release new ones in the future.
We have also signed new clients and expanded on agreements for some existing clients, and will release more news about that in the near future.
The Company feels the effort to move towards cloud-based apps will pay-off due to much lower development and update costs long-term. When iOS 8 was released we experienced a backlog of updates that we are still working through and this also affected revenue, but now we are using the cloud system which is much more efficient and cost-effective.
We greatly appreciate our shareholders and customers, and look forward to fully implementing our new streamlined app development system in 2015.
Please email us at ir@metatroninc.com if you have any questions or comments.
Forward-Looking Statements: Any statements made in this press release which are not historical facts contain certain forward-looking statements, as such term is defined in the Private Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results of the specific items described in this release, and the company’s operations generally, to differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company’s need for additional financing, which is not assured and which may result in dilution of shareholders, the company’s status as a small company with a limited operating history, dependence on third parties and the continuing popularity of the iOS operating system, general market and economic conditions, technical factors, receipt of revenues, and other factors, many of which are beyond the control of the company. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. Moreover, neither we nor any other person assumes responsibility for the accuracy and completeness of such statements, and we disclaim any obligation to update information contained in any forward-looking statement.