Metatron Inc (OTCMKTS:MRNJ) shares jumped 60% on Tuesday to $0.00240 but retreated 4.17% to $0.00230 in after-hours trading. The company has a market cap of $50,580 at 28.10 million shares outstanding.
In a press release, Metatron Inc announced its plan to raise $1,000,000 using the popular method of Reg-A and has selected Fundable to run its capital raise campaign. Fundable has raised $80,000,000 in funding commitments in its first year and has surpassed $300,000,000 as one of the leading crowdfunding platforms.
OTC Markets stated that 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.
This capital raise of $1,000,000 will be used to assist with the company’s new security app Vaporize, along with the updating and launching of new Cannabis apps. Vaporize is an end-to-end encrypted messaging app that facilitate secure communication, and will delete, or ‘vaporize’ messages after being sent, provide anti-screenshot or forwarding features, to allow users to chat without fear of their history being stored. The company noted that it has completed most of the structure on the app, and are working to install the encryption layer for ultimate level of security, and privacy.
Meanwhile, it also continues to develop mobile apps for the cannabis industry. Metatron Inc is the first company to have a cannabis-related app on the iTunes store and has half a dozen in development. Lastly, Metatron Inc also mentioned that it plans to relaunch their mobile business in the specific areas of mobile encryption and security, and mobile applications for the growing cannabis and marijuana market. With this, the company will keep its focus on a couple of dynamic concepts within the mobile market and will look to reduce or shelve other projects to the back burner.
Metatron Inc is a digital content distribution and mobile application company that aggregates and distributes downloadable content applications, available in Internet stores. The company 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.
Metatron Inc 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.