Metatron Inc (OTCMKTS:MRNJ), which is a diversified Internet holding company providing online and wireless consumer interactivity solutions, is set for acquisition via stock swap Mountain Green Inc. Mountain Green Inc. is an e-commerce company currently selling electronic devices, nutritional supplements and digital content under various popular brand names on the web, Amazon and most social media platforms.
The company has a track record of generating over four million in sales over the last year. Metatron which is a mobile and web technology pioneer having developed over 2,000 apps on iTunes and Google Play would be highly benefitted with the acquisition of Mountain Green Inc. as it would bring to table its huge existing customer base along with several digital properties. However, the acquisition is subject to management approval and is expected to close in third quarter 2021.
Post-acquisition plans include a shared roll out of multiple websites and apps geared towards gaming, entertainment, and lifestyle categories. Furthermore, the plans of updating its Bit-Meet D-Fi App and Vaporize. While the former app is one that lets for peer-to-peer crypto transfers, the latter is a secure chat DApp. Both the apps which have earlier appeared on iTunes and Google App stores would now be released exclusively on the web.
Quoting Emergenresearch, “The DApps Market size was valued at USD 10.52 Billion in 2019 and is anticipated to reach USD 368.25 Billion by 2027 at a CAGR of 56.1%. The rising demand for fast transaction process and the benefits of DApps such as transparency, reliability, flexibility, and scalability are stimulating the global DApps Market”.
Market Reaction:
On Wednesday, MRNJ stock plummeted 28.60% at $0.0010 with more than 965.88 million shares, compared to its average volume of 131.45 million shares. The stock had moved within a range of $0.0009 – 0.0015 after opening the trade at $0.0014. Over the past 52-week, the stock has been trading within a range of $0.0000 – 0.0049.
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