AEROCENTURY PROPOSES TO CHANGE NAME TO "MEGA MATRIX CORP" AND ANNOUNCES ITS NEW TICKER TO BE "MTMT"
AeroCentury Corp. plans to change its name to Mega Matrix Corp. and its trading symbol from ACY to MTMT, effective March 28, 2022. This rebranding aims to reflect its expansion into the Metaverse and GameFi sectors. The company operates through two subsidiaries: Mega Metaverse Corp. and JetFleet Management Corp.. AeroCentury will continue its focus on third-party management services for aircraft while pursuing new opportunities in the gaming sector.
- Rebranding to Mega Matrix Corp. aligns with expansion into Metaverse and GameFi, potentially capturing new market interest.
- Continued focus on aircraft management services through JetFleet provides a dual revenue stream.
- Risks associated with entering a new market segment, including competition and execution challenges.
- Dependence on future financing for capital expenditures and growth initiatives.
PALO ALTO, Calif., March 14, 2022 /PRNewswire/ -- AeroCentury Corp. ("AeroCentury" or the "Company") (NYSE American: ACY), today announced that it plans to change its name from "AeroCentury Corp." to "Mega Matrix Corp." to better reflect its expansion into Metaverse and Gamefi business. In connection with the corporate name change, the Company also plans to change its trading symbol from "ACY" to "MTMT" to be effective on March 28, 2022. The effective date of the name change will be disclosed in a subsequent news release.
About AeroCentury: AeroCentury (the "Company") is a holding company located in Palo Alto, California with two subsidiaries: Mega Metaverse Corp., a California corporation ("Mega") and JetFleet Management Corp. a California corporation ("JetFleet"). The Company focus on GameFi business through Mega and will continue to focus on third-party management service contracts for aircraft operations through our majority owned subsidiary JetFleet, which was part of our legacy business. For more information, please visit: http://www.aerocentury.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. All statements in this press release other than statements that are purely historical are forward-looking statements. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose," and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees for future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate other future acquisitions; ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting the Company's profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic. The forward-looking statements in this press release and the Company's future results of operations are subject to additional risks and uncertainties set forth under the heading "Factors that May Affect Future Results and Liquidity" in documents filed by the Company with the Securities and Exchange Commission, including the Company's quarterly reports on Form 10-Q and the Company's latest annual report on Form 10-K, and are based on information available to the Company on the date hereof. In addition, such risks and uncertainties include the Company's inability to predict or control bankruptcy proceedings and the uncertainties surrounding the ability to generate cash proceeds through the sale or other monetization of the Company's assets. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release.
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SOURCE AeroCentury Corp.
FAQ
What prompted AeroCentury to change its name to Mega Matrix Corp?
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