FAQ: Metrospaces' Transformational Agreement with Genesis Holdings
Summary
Metrospaces, Inc. has signed a Letter of Intent to sell its MetroCrowd and MetroHouse platforms to Genesis Holdings in exchange for $1 million in convertible preferred stock, marking a corporate rebirth with renewed funding and operational clarity.
What is the main announcement in this press release?
Metrospaces, Inc. has signed a Letter of Intent to sell its MetroCrowd blockchain real estate tokenization platform and MetroHouse AI property management software to Genesis Holdings in exchange for $1 million in convertible preferred stock.
Why is this agreement significant for Metrospaces?
This transaction establishes the first true value-based path to rebuilding the company, providing real access to funding, a real business plan, and a real path to full relaunch after financial constraints prevented the platforms from launching previously.
What assets is Metrospaces selling to Genesis Holdings?
Metrospaces is selling two assets: MetroCrowd, their blockchain-based real estate tokenization platform, and MetroHouse, their AI-powered property management software.
What does Metrospaces receive in return for the asset sale?
Metrospaces will receive $1 million in convertible preferred stock from Genesis Holdings as part of the transaction.
What business does Metrospaces retain after this transaction?
Metrospaces retains its flagship project Abode Stays, a premium hospitality platform focused on high-end short-term residences across Europe and the Americas.
How will leadership be affected by this agreement?
Metrospaces CEO Oscar Brito will be named CEO of Genesis Holdings once the transaction closes, ensuring full transparency and synergy across both companies.
When will the MetroCrowd and MetroHouse platforms be relaunched?
Genesis Holdings plans to house and relaunch both platforms in the coming weeks under their operational management.
What are the expected benefits of this corporate structure?
The structure creates operational clarity, cost efficiency, and a united front in executing on both Metrospaces’ and Genesis’ missions while providing Metrospaces with renewed funding and a clear path forward.
Where can I find more information about these companies?
Both companies are updating their websites (coming soon) but can be followed on X (formerly Twitter): Metrospaces at @Metrospaces and Genesis Holdings at @regnisnyc.
Is this agreement final or still pending?
The letter of intent is subject to the successful negotiation and closing of a definitive agreement, meaning the transaction is not yet finalized.
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