Modern Technology Corp Announces 65% Increase in Quarterly Sales Over Same Period Last Year
April 10 2008 - 1:03PM
PR Newswire (US)
OXFORD, Miss., April 10 /PRNewswire-FirstCall/ -- Modern Technology
Corp (Pink Sheets: MODC) announced that its new portfolio company,
Encore Energy Systems (Pink Sheets: ENCS), reported a 65% increase
in sales over the same period last year. Revenues for Q1 2007 and
Q1 2008 were $219,140 and $361,130 respectively. Sales for the
American Geothermal operation of Encore are projected to nearly
double and be in excess of $1,400,000. This figure does not include
sales projections from the Company's other operations and projects.
American Geothermal has approximately 15 projects in its pipeline
with each project expected to gross between $40,000 to $100,000.
The Company's sales are not affected by the downturn in the USA
mortgage market as the Company's customers are concentrated in the
ultra high-end market where demand rises in market downturns. The
demand for the company's Green solutions is increasing monthly and
expected to rise further. About Modern Technology Corp Modern
Technology Corp is a specialized acquisition company obtaining
majority control of promising private or public companies for
execution of a 'turn-around' strategy and subsequent spin-off. The
company targets opportunities with undervalued assets or
purchasable convertible debt. The company builds revenues and asset
value through a model continuous growth-by-acquisition. Our income
is derived from license and revenue agreements and the sales of
securities obtained from our portfolio holdings. The company's web
address is: http://www.moderntechnologycorp.com/ About Encore
Energy Encore Energy owns the patents for the use of grey-water,
and domestic water in heat exchanger systems. They also provide all
forms of conventional geothermal heat exchange systems. Learn more
at http://www.encoreenergyinc.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. The company's web-site version of
this press release contains various RISK FACTORS (and are
incorporated herein by reference) and should be read before any
investment decision. Contact: Investor Relations 1.954.727.5468
DATASOURCE: Modern Technology Corp CONTACT: Investor Relations of
Modern Technology Corp, +1-954-727-5468 Web site:
http://www.moderntechnologycorp.com/
http://www.encoreenergyinc.com/
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