In the past session, MetroSpaces Inc (OTCPINK: MSPC) closed at $0.0009, up 12.50%. While 191.29M shares exchanged hands, the MSPC stock price ranged between $0.0008 and $0.0010. A letter sent by MSPC to its shareholders boosted the stock price.
The letter from MSPC updates what?
PropTech company, MetroSpaces combines world-class real estate development with cutting-edge technology. With its focus on leveraging novel technology in this space, MSPC has created a business that is both valuable and transformative. The goal of MSPC’s real estate division is to reinvent the industry through the application of new information technologies.
Through AI, blockchain, and other cutting edge technology, MSPC is able to facilitate enhanced management, administration, and security features across the entire property life cycle. In addition to democratizing capital markets, MSPC tokenized offerings increase our liquidity while expanding property ownership opportunities for small investors.
MetroSpaces released a letter to shareholders last week from CTO Alejandro Laplana and CEO Oscar Brito. The letter contains several updates, including:
Metrohouse -Co-Living Platform:
- As part of its beta tests in Q4, Metrohouse will offer approximately 33 units for rent in one city.
- By the end of the year, MSPC expects to have 120-150 profitable units by year’s end in its second and third markets.
- After only 8-9 months of transforming into a Proptech company, MSPC is already generating positive cash flow from the Brazos Atrium office complex.
- It is rare for companies in their early stages of growth to achieve such an accomplishment. In addition, MSPC acquired this asset at a capitalization rate of 12%.
- For MSPC and future token investors, the asset will generate an IRR of greater than 30% when leveraged.
Balance Sheet and Capital Structure:
- MetroSpaces (MSPC) has reduced its total liabilities from $14.8 million by over 70%.
- At the end of the third quarter of 2021, MSPC’s assets will amount to close to $2 million, up from $213,130 at the end of 2020.
- MSPC plans to release its quarterly financial results in the coming days.
- Shareholders will be able to see the impressive progress made in its debt-reduction plan.
MSPC to release its financials soon:
Moreover, MetroSpaces (MSPC) will be able to announce its first revenue from a new business plan in the proptech realm and to announce an EBITDA-positive position after reducing its overall liabilities and increasing its assets. An offering under Regulation-A has been filed by MSPC with the SEC. The money MSPC will subsequently receive from this offering will go towards further investment in the company’s digital platforms, to acquire assets, and to repay existing debts.