OXFORD, Miss., March 1, 2005 (PRIMEZONE) -- Modern Technology Corp. (OTCBB:MOTG), a business development and acquisition company, announced today that its portfolio company, DeMarco Energy Systems of America (Pink Sheets:DMES) has initiated its renewed and expanded business plan. This expanded plan addresses the ever-increasing world-wide demand for alternate energy and energy-saving technologies. As part of DeMarco's rapid growth plan to expand operations, revenues, and build significant stockholder equity, DeMarco plans to acquire energy-related companies to consolidate operations and introduce new technologies and energy-related products into the marketplace. DeMarco is also focusing efforts to license its patented energy-saving geothermal technologies throughout the world.
As part of DeMarco's rapid growth plans, $1.5 Million of DeMarco debt was purchased by MOTG. MOTG's acquisition of this Debenture places DeMarco Energy's major debt under new ownership and under direct management by MOTG. MOTG is focusing DeMarco Energy on a rapid growth and expansion strategy based upon balance sheet restructuring, marketing its patented geothermal technology, and seeking acquisitions congruent with energy conservation and supporting industries. Additionally, MOTG is currently working to bring DeMarco Energy back to full compliance with SEC reporting requirements and re-list the company on the OTCBB as soon as possible.
Anthony Welch, Chairman of DeMarco Energy added: "We see 2005 as the year for DeMarco's new phase of growth and market expansion. We are working quickly and diligently to expand the scope of the company. In additional to the company's superb geothermal technologies, we are pursuing a path of energy-related acquisitions to rapidly enhance shareholder equity and create sustained profitability and strong, growing revenues. We feel the combination of technology sales, global patent licensing, and acquisitions of other companies, can rapidly place DeMarco Energy in a strong financial position in 2005 and prepare the company for many years of growth and shareholder returns. Furthermore, we are at a unique and momentous place in history. Never before has the world seen such demand alternate energy sources. We are stepping forward to meet that demand."
About DeMarco Energy Systems of America, Inc.
DeMarco refreshed and expanded its business plan in late 2004 and is presently focusing on energy-related acquisitions, marketing its patented geothermal water-air heating/cooling systems, providing energy audits, sales of energy related equipment, and the sales and servicing of commercial air filtration devices. DeMarco currently has installations in Oregon, Pennsylvania, Washington, Montana, South Dakota, Mississippi, California and Texas. The Company's primary focus is to provide energy efficient technologies to commercial and institutional markets through the application of the DeMarco 'Systems' patent, which was originally granted on September 3, 1985 and is known as the Energy Miser System. This unique and patented technology provides heating and air conditioning powered by the thermal properties of managed water systems, which include gray-water, re-use water and potable water systems. DeMarco was granted a second patent in August of 2003 for re-use water and has exclusive rights to the patented technology. The cost of installing this geothermal application is less than half the cost of a normal geothermal installation. This patent has the greatest potential for revenue and profit of any product within DeMarco Energy. For more information, visit the company's web site at: http://www.demarcoenergy.com
About Modern Technology Corp.
Founded in 1982, Modern Technology Corp (MOTG) is a business development and acquisition company, building revenues by strategic acquisitions and subsequent market expansion. MOTG provides infrastructure, intellectual capital, strategic investments, and ongoing support and growth assistance to each company within its portfolio. MOTG provides mentoring and assistance through collective operations experience, significant industry contacts, and strategic and tactical advice. The company's mission is to consistently build shareholder equity through accretive acquisitions, to continue its history of stock and cash dividends, and to create and promote synergistic relationships among portfolio companies and affiliates. In addition to DeMarco Energy Systems, MOTG recently added Sound City, Inc. to its portfolio of companies, and will continue to announce additional acquisitions. MOTG expects the revenues from the Sound City operations and planned acquisition to generate in excess of $25 Million for MOTG for 2005. This figure does not include revenues from MOTG's planned acquisitions through out 2005, expected to be in excess of $50 Million. MOTG recently completed a $3.5 Million funding transaction which included the acquisition of $1.5MM in new debenture assets and the company plans to release details on its growth and revenue projections for 2005 and its plans for listing its Common Stock on a larger exchange in the future. For more information, visit the company's web site at: http://www.moderntechnologycorp.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, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.