LAS VEGAS, Oct. 9, 2007 (PRIME NEWSWIRE) -- MetaPower International, Inc. (Pink Sheets:MTPW) is pleased to announce that the Company had cash collections of $270,399 for the month of August, 2007. This represents a 490% increase in cash over August 2006, when the Company's cash collection was $45,815.
MetaPower International's collection for August 07 included cash payments for consulting services and UCoDA license and maintenance fees provided over the previous 60 days. MetaPower has licensed its UCoDA Business Process Management Tool for use on projects with clients such as Wolf Creek Nuclear Generating Station and a major Canadian Oil Sands Energy Company.
"This cash collection number shows how well MetaPower is continuing to build the business consistent with our business plan. While there will be minor swings in our cash flow, we expect collections to continue to be consistent with our sales growth. This level of cash collection allows us to continue to improve our cash position and we expect that it will be a positive factor in our financing efforts," stated Steve Ivy, Vice President, Finance, MetaPower International, Inc.
MetaPower International, Inc. recently announced that the Company's subsidiaries, MetaPower, Inc. and MetaPower Canada, have invoiced $367,128 in consolidated sales for the month of August, 2007. This represents an increase of 27% over July sales of $290,203.
About MetaPower:
MetaPower International, Inc. is a technology firm founded in 1996 that provides information technology and change management services to hazardous process industries. This link between technology and services is critical to enable the changes necessary to successfully compete in the current environment. In today's competitive world, business operations must be streamlined if new levels of performance and operational excellence are to be achieved.
Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.