MasterBeat Corporation Provides Corporate Update

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.