LAS VEGAS, Feb. 28, 2008 (PRIME NEWSWIRE) -- MetaPower International, Inc. (Pink Sheets:MTPW) is pleased to announce that the Company has booked revenue of $99,787 for the month of January 2008. This represents a 433 percent increase in revenue from January 2007, when the Company's revenue was $18,689. In addition, MetaPower International also booked $75,045 in accounts receivables for the month of January 2008, an increase of 27 percent over January 2007.
MetaPower International generates revenue from monthly installments for its consulting services and UCoDA maintenance fees. The Company is currently on track to meet its goal of $3.5 million in revenue for 2008, including a net profit of over $400,000. MetaPower has licensed its UCoDA Business Process Management Tool for use on projects with clients such as Wolf Creek Nuclear Generating Station, Actuate Corporation and a major Canadian Oil Sands Energy Company.
"We are very excited about this great start to the New Year. We have seen our revenues increase tremendously over the last couple of years and project this trend will continue. We look forward to the upcoming share exchange and share retirement as we move towards our goal of increased shareholder and market value," stated Ken Allen, CEO of MetaPower International, Inc.
MetaPower International, Inc. previously announced its preferred stock exchange program, offering to exchange common shares of stock for convertible preferred stock to be valued at $1.00 a share. To participate, shareholders must have their shares into MetaPower International, Inc. by March 15, 2008 in order to qualify for the exchange of common shares to convertible preferred shares. Shareholders must turn in a minimum of 500,000 shares in order to qualify. For the complete terms and conditions of the stock buyback program, please visit the Company's Web site: http://www.metapower.com.
About MetaPower International, Inc.:
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.