Metavesco to Delay Staffing Acquisitions
- None.
- Delayed acquisition may lead to missed opportunities for business expansion and potential revenue growth.
CUMMING, GA / ACCESSWIRE / December 29, 2023 / Metavesco, Inc. (OTC PINK:MVCO), a web3 enterprise and digital asset innovator, today announced it will delay its acquisition of staffing assets from Laborsmart, Inc. and Epic Labor, Inc.
Ryan Schadel, CEO of Metavesco Inc., stated, "Revenue produced by these assets in the last few weeks have been quite volatile. This volatility is most likely due to seasonal trends but I think its best to wait for revenue to stabilize before closing this acquisition." Mr. Schadel continued, "Given the related party nature of the Laborsmart component, I am very sensitive to the optics of this deal. I want this deal to happen, and it will happen when downside risk to Metavesco has been properly assessed and mitigated. I will monitor weekly sales trends and report those trends to shareholders. Once these businesses return to profitability, we will move to close the acquisitions. In the meantime, we will continue making internal preparations for the acquisition and building our current businesses."
About Metavesco
Metavesco is a web3 enterprise and digital asset innovator. The Company generates revenue as a crypto liquidity provider via decentralized exchanges such as Uniswap, and the Company farms tokens via Proof of Stake protocols. The Company has bitcoin mining operations at hosted facilities in TX, KY and IA. The company also invests in promising NFT projects and virtual land including OthersideMeta. Through its wholly owned subsidiary, the Company operates Boring Brew, a specialty coffee company utilizing owned and licensed NFT IP as unique packaging.
Safe Harbor Statement
This press release contains statements that constitute forward-looking statements. These statements appear in a number of places in this press release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; and (iii) growth strategy and operating strategy. The words "may", "would", "will", "expect", "estimate", "can", "believe", "potential", and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is included in the Company's filings on otcmarkets.com.
CONTACT:
info@metavesco.com
(678) 341-5898
SOURCE: Metavesco, Inc.
View the original press release on accesswire.com
FAQ
Why is Metavesco, Inc. (MVCO) delaying the acquisition of staffing assets from Laborsmart, Inc. and Epic Labor, Inc.?
What is the reason behind the delay in the acquisition according to CEO Ryan Schadel?
How will the delay in the acquisition impact Metavesco, Inc. (MVCO)?
