WASHINGTON, DC -- April 27, 2020 -- InvestorsHub NewsWire --
Xalles Holdings Inc. (XALL),
a fintech holding company providing technology and financial
services solutions, today announces its first quarter results and
outlook for the remainder of fiscal 2020. Xalles deemed the first
quarter a success given its accomplishments, but more importantly,
sets up the company to grow faster for the remaining quarters of
2020.
Q1 Results
Xalles Holdings released its first quarter (ending March 31,
2020) Quarterly Report and Financial Statements last week on April
22, 2020. The highlights of that report include:
- $243,929 in Q1 revenue, which is the highest quarterly
revenue
- $107,968 in Q1 net income
- Large increase in assets and liabilities which is primarily due
to the acquisition of MinervaWorks Holdings, Inc. becoming a wholly
owned subsidiary
- Completed the closing of the Gateway Innovations Limited
acquisition on February 14, 2020
- Completed the closing of the MinervaWorks Holdings, Inc.
acquisition on March 31, 2020
- Filed a Form 1-A (Reg A Tier I public offering) to the SEC on
March 24, 2020 for the ability to sell shares in a price range of
$0.005 to $1.00 per share
- Currently there are 538,438,109 XALL common shares issued of
which 221,400,000 are free trading, and no remaining 3(a)10 settled
shares have been held in reserve since January 30, 2020
Blockchain and Tokenization
Xalles continues to develop the X2X blockchain-based platform
for financial transaction reconciliation and is also exploring the
tokenization of assets. Xalles has the opportunity to partner with
companies providing Security Token Offering (STO) services for
international expansion and is performing its due diligence.
Next month, Xalles will be conducting an extensive analysis with
a Top 100 Cryptocurrency company that provides turnkey tokenization
services including Token Issuance (STO), Exchange and Liquidity,
Integration and Custodian Services. Tokenization is the
process of representing the securitization of real-world using
digital tokens on a blockchain. The ultimate vision for the
company is to create an Xalles or X2X related Token that can be
traded on multiple global exchanges and support eCommerce
platforms, eProcurement platforms, and rewards platforms.
Acquisition Plans
Xalles will continue to look for accretive and creative
acquisitions of technology and financial services businesses. These
will include companies with products and services designed to
support the new economic conditions during periods of limited
mobility and recovery. Xalles currently has a pipeline of 15
acquisition candidates and is in negotiations with 6 of those
companies now. The businesses in which we are in negotiations with
include eCommerce platforms, eProcurement, sales organizations,
payment platforms, and cyber security companies. Xalles expects to
announce 2 or 3 acquisitions during the second quarter of this
year.
Business Development Expansion
MinervaWorks alone is expected to generate approximately $3
million in revenue in 2020 and significantly more in future years
through expanded deployment of The Brick. The Brick is a unique
piece of hardware loaded with proprietary software and supported by
a national service center that can tap into a client’s network and
probe everything about the organization’s IT assets.
MinervaWorks high-profile clients include the Georgia Aquarium,
Caesars Entertainment in Las Vegas, and the Centers for Disease
Control and Prevention (CDC). These projects showcase the
capabilities of the technology and represent a level of assurance
that this is a robust technology that can ensure high performance
and network continuity. Xalles has a strategy to assist in the
growth of sales of The Brick by expanding its sales channels. These
new sales organizations will be used to help market and sell other
Xalles company offerings as they are developed. The stay at home
orders have exposed some of the vulnerabilities of stretching
corporate networks beyond their originally intended uses.
MinervaWorks’ product is uniquely suited to capitalize on this
evolving “work at home” environment and has seen a considerable
increase in interest in its products over the past couple of
months.
Summary
The Xalles 2020 strategy continues to encompass geographic
expansion, accretive acquisitions, and establishing platform
companies. Xalles searches for opportunities with financial
services or technology-based toll gates that can be established to
create recurring revenues. The acquisition strategy also factors in
the potential synergies with existing subsidiaries.
“The progress made during the first few months of this year,
puts us on a sound financial footing to achieve profitability, and
reach our 2020 financial goal of $4 million in revenue,” stated
Thomas Nash, Xalles Holdings CEO. “We will achieve these results
while ensuring the health and safety of all employees, contractors,
and consultants, during this time of unprecedented business
conditions. MinervaWorks is one of our largest acquisitions to
date, and we will continue to demonstrate to shareholders our
ability to find, vet, negotiate, and acquire other business assets
that complement our technology and financial services centric
business focus. We see great opportunity in this business
climate and are fortunate to have a pipeline of existing
acquisition candidates. As we successfully absorb
acquisitions our ability to finance future growth should become
easier. We are working through the process for our Reg A Tier
I form 1-A to become qualified, but plan on using the capital
markets sparingly as we balance between sales growth and potential
dilution. The company is optimistic that it will be able to
secure more traditional means of financing its growth and is
committed to maximizing shareholder value and minimizing any
potential dilution.”
About Xalles Holdings Inc. (XALL)
Xalles Holdings Inc. is a holding company that focuses on
acquisition and support of disruptive fintech companies. The
company actively seeks targets in which it can partner with or
acquire to 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
Corporate
Communications:
NetworkWire
(NW)
New York, New
York
www.NetworkNewsWire.com
212.418.1217
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Editor@NetworkWire.com
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