Metro One Telecommunications, Inc. Retains XRoads Solutions Group, LLC to Evaluate Strategic Alternatives

PORTLAND, Ore., May 12 /PRNewswire/  -- Metro One Telecommunications, Inc. (OTC Bulletin Board: INFO) (the "Company" or "Metro One") announced today that it is exploring strategic alternatives for the most efficient use of its remaining assets. These alternatives include, among other things, an acquisition or merger with an operating business.  The Company has engaged XRoads Solutions Group, LLC as its advisor to manage the process of receiving indications of interest, evaluate potential transaction partners and assist the Company in consummating a transaction.

The Company was previously an operator of call centers and data management services and exited those businesses during 2009.  The Company currently has no operating businesses.

The Company is committed to a thorough and systematic review of all strategic alternatives.  Metro One has not set a definitive timetable for completion of its evaluation and there can be no assurances that the process will result in any specific transaction.      

Strategy

Although the Company will remain opportunistic as to the industries and transactions it will consider, it will initially focus its search on the technology, telecommunications and cleantech industries.  The Board of Directors of the Company has thorough domain knowledge of those industries. The Company will primarily focus its efforts in North America where the Board has direct investment experience and a network of industry contacts to source transaction opportunities.

The Company intends to focus its efforts on potential transaction partners that have one or several of the following characteristics:

• A venture-stage, revenue-generating business that would utilize Metro One's assets for growth and eventually benefit from having a public currency to use for acquisitions
• An under-capitalized business with the potential to increase its products and services offerings
• A business with strong fundamentals in an environment requiring scale, which has caused the business to appear undervalued or distressed
• A business requiring a transformation of its business model in order to adapt to changing regulatory and technological environments and unlock stockholder value

About XRoads Solutions Group, LLC

Originally founded as a turnaround and restructuring firm, XRoads Solutions Group offers a range of professional services that enhance the value of both distressed and healthy companies. The firm's heritage in turnaround engagements is the source of distinctive strengths that provide value to its healthy clients – speed, pragmatism and a passion for getting things done.   XRoads Solutions Group is composed of four practice areas – Management Consulting, Corporate Rescue, Corporate Finance and Case Management Services - any combination of which can be applied to client benefit.

This press release may be deemed to contain certain forward-looking statements with respect to the business, financial condition, and results of operations of the Company and its subsidiaries which involve risks and uncertainties, including, but not limited to, financial market risks, economic conditions, regulatory matters and litigation and other risks described in the filings of the Company with the Securities and Exchange Commission.  These forward-looking statements generally can be identified by phrases such as the Company "believes," "expects," "anticipates," "foresees," "forecasts," "estimates," or other words or phrases of similar import.  Such forward-looking information involves important risks and uncertainties that could significantly affect results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of the Company.  For more information, review the Company's filings with the Securities and Exchange Commission.

SOURCE XRoads Solutions Group, LLC