BURFORD, GA / ACCESSWIRE / June 1, 2023 / MasterBeat Corporation (OTC:MSTO), a company specializing in hard, tangible asset acquisitions with an intense focus on real estate and other tangible assets, through its subsidiary SBQ Holdings, LLC, established for the purpose of acquiring, developing, and managing short term rental and vacation homes is pleased to provide the following update.
We are delighted to announce that we have regained our Pink Current status on the OTC Markets and are in the process of filing our Form 211 to get back to the solicited quote status. Malone Bailey is currently working on the 2021 financials, and we plan to get our 2022 audited as well. Furthermore, progress on the Navarre and Santa Rosa properties purchased in June and July of 2021 are moving along with an expected completion date for both projects to be in November 2023.
Masterbeat's objective has been to prove its successful business models in the Real Estate and Automotive industries. Our pilot real estate project, initiated in 2019/2020, was aimed at generating revenues, profitability, asset appreciation and self-sustainability. Even under the difficult circumstances created by the COVID pandemic, our pilot projects, such as the purchase of the Verano Palace property for $1.1 million and its subsequent short-term rental, have proven to be successful. We were able to rent the property and it was eventually sold for $1.4 million, demonstrating the success of one segment of our Real Estate business model. The second venture was the purchase of the Santa Rosa property Land Lot 183 Rolling Dunes, acquired in February 2021 with the intention to develop and build a 5000 sq ft short term vacation property for the purpose of resale being another segment of our Real Estate model. The land purchase cost was ($400,000) and building cost was estimated to be approximately ($1.2million), adding up to a total gross cost of ($1.6million), with our actual all-in cost being $1.85million, completed and furnished. The property was sold for $4.25 million. SBQ's real estate achievements have exceeded our business goals, confirming the efficacy of our Real Estate business model even in challenging times such as the COVID pandemic. Masterbeat's subsidiary, SBQ Holdings, will remain focused on land purchases and development. The company will concentrate on acquiring properties in the Florida Panhandle and other highly rated areas for vacation rentals based on cost of ownership, short-term revenue potential, acquisition cost, annual appreciation, and projected changes in asset value.
SBQ's will continue to develop Vacation Rental properties for resale purposes until market conditions are more favorable to keep the properties and rent them out. Our automotive division, JTEC Automotive Inc, did not perform as well during the pandemic and after due to supply chain issues that hindered our ability to deliver parts to customers in a timely manner. The Automotive Parts Industry has been severely affected by the fact that ninety percent (90%) of all aftermarket auto parts are produced outside the United States. Shipping issues and lack of raw materials to manufacture parts have made it very hard to acquire auto parts, resulting in back orders with no definitive delivery dates. Therefore, MasterBeat has decided to close its automotive division and focus on the real estate sector, which has provided us with the best returns on capital investment and time. In 2023 and 2024, we plan to aggressively implement our land acquisition strategy to build our portfolio of large vacation style short term rental properties. The increasing popularity of short-term rental platforms such as Airbnb, HomeAway, Flipkey and the Hilton Hotel & Resorts have created an immense demand for Short-term Vacation Rentals, and we anticipate double-digit growth over the next five years. ‘We are confident that, as we restructure our business model and focus solely on the Real Estate sector, we will be able to create better business relationships in the financial industry, allowing us to raise the necessary capital for our growth with an ambitious land acquisition plan.' Stated, Josh Tannariello
About MasterBeat Corp.
MasterBeat Corporation (OTC:MSTO), incorporated under the laws of Delaware, is a publicly traded company specializing in hard, tangible asset acquisitions with an intense focus on real estate, precious metals, and other tangible assets. The company believes its progressive approach to an old school model, especially in this market based on fragile earnings multiples and uncertainty, to acquire hard, tangible assets will not only offer long term capital appreciation but also deliver revenues, profits, and self-sustainability.
www.masterbeatcorp.com
info@masterbeatcorp.com
Safe Harbor Statement
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations and assumptions upon which they are based are reasonable, we can give no assurance that such expectations and assumptions will prove to have been correct. Some of these uncertainties include, without limitation, the company's ability to perform under existing contracts or to procure future contracts. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including without limitation, successful implementation of our business strategy and competition, any of which may cause actual results to differ materially
from those described in the statements. We undertake no obligation and do not intend to update, revise or otherwise publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of any unanticipated events. Although we believe that our expectations are based on reasonable assumptions, we can give no assurance that our expectations will materialize. Many factors could cause actual results to differ materially from our forward-looking statements.
Contact:
Josh Tannariello
603-459-9378
josh@masterbeatcorp.com
SOURCE: MasterBeat Corporation
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