Metatron Inc (OTCMKTS:MRNJ) shares were down 18.75% on Wednesday even after the company announced its cannabis app development update.
Metatron Inc (OTCMKTS:MRNJ) shares were down 18.75% on Wednesday and an additional 1.46% in after-hours trading. Share prices have been trading in a 52-week range of $0.00 to $0.12. The company has a market cap of $33K at 28.10 million shares outstanding.
Metatron Inc is a digital content distribution and mobile application company that provides consulting services in the areas of web development, mobile software, online marketing, pay-per-click (PPC) management, search engine optimization (SEO) services and corporate strategy to its content generator clients and Internet-based businesses.
It also provides Internet professional services which include strategic planning, Web site content development, graphic design and computer programming. Its strategic services include concept creation, service selection, and campaign strategy; detailed reports and market insights; strategic direction based on market research, and strategic competition campaign analysis. The company assists its clients in producing digital content and designing Websites.
In a press release, Metatron Inc announced the agreement for the development of Buzzlink.com application. This will give the company multiple advantages at ensuring the company and its cannabis subsidiary, Cannaboids, maintains an optimum market position for their products in the CBD Marijuana industry. This follows the November 2016 vote to legalize the use of medical or recreational marijuana in several US states and precedes Canada’s plans to legalize recreational cannabis by July 1, 2018. The company Canniboids a wholly owned subsidiary in March 27, 2017.
Our main focus is producing a quality Cannabis product for this rapidly growing industry. Isolating Canniboids as its own subsidiary, will ensure it receives the much needed support to be a front runner in the CBD market. This year, analysts expect the cannabis market to produce $6.7B of new wealth, by 2020, Bank of America and Merrill Lynch estimate that will grow to $35 billion a year, and the New York Times describes what’s taking place as a gold rush. Metatron is eager to take advantage of this opportunity,” said CEO Jon Riehl.
Buzzlink is expected to launch this spring, around 4/20 (April 20th, 2017) and will be an exciting place for people to find products, hangout, and share experiences. The company’s $1,000,000 capital Raise has started and will be using its Series B preferred shares, converting at a ratio of 1 preferred share to 50,000 common shares, and will not be affected by a reserve split.
Last month, Metatron Inc shared its plan to raise $1,000,000 using the popular method Reg-A. It has already selected Fundable to run this capital raise campaign, which has generated over $80,000,000 in funding commitments from investors, customers, and friends in their first year. In total, Fundable has surpassed $300,000,000 and is one of the leading crowdfunding platforms.
In 2015, the SEC adopted new rules that update and expand Regulation A to help companies raise capital in the public markets. With these new rules, dubbed Regulation A+, the SEC seeks to promote capital formation, while preserving the disclosure requirements and other investor protection measures,” noted OTC Markets.
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