Xalles Holdings Updated Strategy and Roadmap
WASHINGTON, DC, Sept. 24, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE ‒ Xalles Holdings Inc. (OTC: XALL), a fintech holding company providing technology and financial services solutions, is providing shareholders with an update to its corporate strategy and future roadmap for the remainder of 2020 and looking ahead to 2021.
Xalles Holdings recently filed a Form 1-A-W with the SEC to withdraw the company’s application for Tier I Reg A fundraising. This was done to support the new business roadmap. Xalles will first complete its PCAOB financial audits, including companies that were acquired within the last 2 years or are about to be acquired, which will change the company’s status to Fully SEC Reporting. This status will then allow the company to proceed with an OTC Markets uplist to the Quotation Board (OTCQB), while in parallel submit a new Form 1-A to the SEC to apply for a larger Tier II Reg A equity offering.
The logic behind these adjustments in the roadmap include wanting to perform the audits on the companies to set a new higher financial standard for near term and future acquisitions of operating companies, obtain the uplist to OTCQB as soon as possible, and proceed with the closing of acquisition deals that have been announced or in our pipeline without having to work around the Tier I Reg A processes.
The expected timeline of the key milestones is as follows:
Acquisition of 2-5 companies – completed throughout October and November 2020
PCAOB Audits – completed by November 2020
Uplist to OTCQB – completed by December 2020
Tier II Reg A offering submitted and qualified – completed during Q1 2021
“The new strategy we are implementing for the fourth quarter of this year and progressing into 2021 will allow Xalles to maximize shareholder value,” stated Thomas Nash, Xalles Holdings CEO. “We realized that the short-term priorities need to be completing the acquisitions that have been lined up in the past few months, while moving swiftly through the audit process to a Quotation Board uplist. The management team is excited to finish 2020 strong in terms of revenue, asset appreciation, and operating companies that will produce tremendous financial results throughout 2021. The new strategy also puts the company in a better position to do fundraising under more favorable terms.”
About Xalles Holdings Inc. (OTC: XALL)
Xalles Holdings Inc. is a holding company that focuses on direct investments in disruptive fintech companies. The company actively seeks acquisition targets in which it can invest and accelerate growth, targeting companies with solid management teams and business models, large total attainable markets (TAM), and lucrative exit opportunities. The company places emphasis on leveraging blockchain technologies to provide industry-leading financial reconciliation and auditing solutions, which, over time, will allow for the capture of recurring revenue streams. For more information visit: http://Xalles.com
Forward-Looking Statements Disclaimer:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainty and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.gov and in OTC Markets at www.otcmarkets.com
Investor Relations Contact:
Info@Xalles.com
www.Xalles.com
202.595.1299 Office
WASHINGTON, DC, Sept. 24, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE ‒ Xalles Holdings Inc. (OTC: XALL), a fintech holding company providing technology and financial services solutions, is providing shareholders with an update to its corporate strategy and future roadmap for the remainder of 2020 and looking ahead to 2021.
Xalles Holdings recently filed a Form 1-A-W with the SEC to withdraw the company’s application for Tier I Reg A fundraising. This was done to support the new business roadmap. Xalles will first complete its PCAOB financial audits, including companies that were acquired within the last 2 years or are about to be acquired, which will change the company’s status to Fully SEC Reporting. This status will then allow the company to proceed with an OTC Markets uplist to the Quotation Board (OTCQB), while in parallel submit a new Form 1-A to the SEC to apply for a larger Tier II Reg A equity offering.
The logic behind these adjustments in the roadmap include wanting to perform the audits on the companies to set a new higher financial standard for near term and future acquisitions of operating companies, obtain the uplist to OTCQB as soon as possible, and proceed with the closing of acquisition deals that have been announced or in our pipeline without having to work around the Tier I Reg A processes.
The expected timeline of the key milestones is as follows:
Acquisition of 2-5 companies – completed throughout October and November 2020
PCAOB Audits – completed by November 2020
Uplist to OTCQB – completed by December 2020
Tier II Reg A offering submitted and qualified – completed during Q1 2021
“The new strategy we are implementing for the fourth quarter of this year and progressing into 2021 will allow Xalles to maximize shareholder value,” stated Thomas Nash, Xalles Holdings CEO. “We realized that the short-term priorities need to be completing the acquisitions that have been lined up in the past few months, while moving swiftly through the audit process to a Quotation Board uplist. The management team is excited to finish 2020 strong in terms of revenue, asset appreciation, and operating companies that will produce tremendous financial results throughout 2021. The new strategy also puts the company in a better position to do fundraising under more favorable terms.”
About Xalles Holdings Inc. (OTC: XALL)
Xalles Holdings Inc. is a holding company that focuses on direct investments in disruptive fintech companies. The company actively seeks acquisition targets in which it can invest and accelerate growth, targeting companies with solid management teams and business models, large total attainable markets (TAM), and lucrative exit opportunities. The company places emphasis on leveraging blockchain technologies to provide industry-leading financial reconciliation and auditing solutions, which, over time, will allow for the capture of recurring revenue streams. For more information visit: http://Xalles.com
Forward-Looking Statements Disclaimer:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainty and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.gov and in OTC Markets at www.otcmarkets.com
Investor Relations Contact:
Info@Xalles.com
www.Xalles.com
202.595.1299 Office
