SCOTTSDALE, AZ -- (Marketwire) -- 03/06/12 -- MediaTechnics Corporation (PINKSHEETS: MEDT) is pleased to announce that it signed a letter of intent to acquire Barefoot Investment Group, Inc. of Oklahoma ('BFIG') in exchange for restricted preferred stock.
BFIG is a special purpose vehicle chosen by the parties to complete the acquisition of one or more targeted wholesale metals distribution companies. When the initial acquisition is completed, BFIG anticipates generating monthly revenues of as much $300,000 or more and with an anticipated gross margin of approximately twenty percent. Confidentiality agreements prevent MEDT from disclosing the targeted firms, however, the company(s) in question have decades of experience in their industry and have been profitably operated for many, many years.
Additional acquisitions in this very profitable sector are planned after the initial acquisition of BFIG is completed.
MEDT continues work on its 2011 fiscal year end statements and expects to release them to the public through the otcmarkets.com website as soon as they are available.
Notes about forward-looking statements
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties.
Certain Statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995 (the 'Act'), and it is the Company's intention and belief that all such statements are covered by the safe harbors created by the Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied.
Forward-looking statements may be identified by words such as 'estimates,' 'anticipates,' 'projects,' 'plans,' 'expects,' 'intends,' 'believes,' 'may,' 'should' and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the company and speak only as of the date made. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date when they are made.