Metrospaces Inc (OTCMKTS:MSPC) is trending upward over 500% in the last 30 days. On February 16th, MSPC took a leap upward and has not looked back as of yet. If you are not familiar with MSPC, the company works in the luxury and specialty real estate market; such as, resorts, boutique hotel, etc. However, it was a key acquisition from last year that seems to be drawing investor interest.
MSPC acquired Etelix, a data host-operator, and the company’s revenues have been steadily improving. Post-acquisition, revenue grew 95% from approximately $4M in 2016 to over $7.8M in 2017. Mr. Brito, MSPC CFO, stated: “After an incredible year in 2017, Etelix started very strong with January 2018 revenue of $642,548. This compares with $585,874 in January 2017, representing a 10% growth. We are projecting to reach a level of $1,000,000 in monthly revenue by the second half of this year, allowing us to reach a base-case projected $10.2M-12M in revenue for 2018. This would represent a 30-40% YOY revenue growth. The opening of our Spain office has made our sales effort in Asia very productive by bringing in new clients and enhancing our existing relationship with major Asian carriers such as Reliance Communications and Axistel. We are currently in the process of sourcing new debt financing, as our business growth is very capital intensive.
Metrospaces Inc (OTCMKTS:MSPC) is a publicly traded real estate investment and Development Company which invests in real estate projects and operating companies with a strong real estate component. It is operated by an elite group of real estate and investment professionals and entrepreneurs located in New York City, Miami and Buenos Aires. Company shareholders have extensive careers in real estate and business financing worldwide, and have funded projects both in the America’s and across Europe valued in excess of US $550Million.
According to the company, Six years ago MSPC shareholders saw a unique opportunity to participate in several exciting property markets around the world. Through their worldwide network of highly recognized real estate entrepreneurs, the company was able to capitalize on unique real estate development opportunities. Since inception, the company has leveraged those relationships along with extensive financial expertise and transformed excellence by results.
Metrospaces’ majority shareholders have partnered with Investors on Elite properties including The London BLVGARI 5 Star Hotel, and are currently involved in negotiations for the development of several Elite luxury properties in South America.
Among Metrospace partners are Architects, Real Estate Developers, Agents and Attorneys of the highest standing, with extensive experience in the global property market.
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Here is a quote from the company shareholder letter put out in late January about pending operations: “We are very confident that 2018 will continue to show record revenue and EBITDA numbers for Etelix and additionally, will be a year where Metrospaces will continue to grow by way of new acquisitions and investments in specialized real estate industry that will continue to create outsized revenue and per-share earnings growth, as Etelix did. As a matter in point, the company is currently actively in negotiations for the acquisition of new construction sites in New York, as well as cannabis-related commercial real estate projects in California and Washington State. As we always have done, we’ll continue to keep our shareholders well informed about our activities. Last Thursday, January 25th the company filed its 8K report with audited financials for Etelix and 2016 and 2017 consolidated pro-forma financials.”
Metrospaces Inc (OTCMKTS:MSPC) is seeing massive 10-day volume at 607.28M. MSPC has a market cap of 2.77M and 4.61B shares out. We are going to be watching this company for more news and updates on the projects in their expanding pipeline. However, MSPC has added some nice revenue streams recently and might want to be on your radar. Sign-up for continuing coverage on shares of $MSPC stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $MSPC, either long or short, and we have not been compensated for this article.