Xalles Holdings, Inc. (OTC Pink: XALL) is a provider of acceleration consulting services for companies operating across fintech, blockchain solutions, and payment auditing solutions. Shares of the diversified financial consulting company are soaring 42.86%, during trading on Friday, April 27, 2018. Over the past month, Xalles Holdings, Inc. has seen average daily volume of 13,196 shares. However, volume of 21,414 shares or dollar volume of $6,424, has already exchanged hands on Friday.
Shares of Xalles Holdings, Inc. are rallying today after the company announced that it has reduced its outstanding common stock share count by 69%. Management also announced that it has recently negotiated the retirement of the convertible note. Here is the full press release detailing of the share structure changes and balance sheet cleanup:
Xalles Holdings, Inc. Press Release:
Washington D.C. , April 25, 2018 (GLOBE NEWSWIRE) — Xalles Holdings Inc. (OTC: XALL), a company focusing on accelerating fintech companies, leveraging blockchain technology for financial reconciliation, and payment auditing solutions, announces the restructuring of its common stock and addition debt reduction it has completed.
Xalles recently took measures to reduce the number of outstanding shares of common stock by more than 69%. This included the cancellation of a block of shares owned by the Xalles CEO, Thomas Nash.
Xalles also recently negotiated the retirement of the convertible notes on its balance sheet. This results in a simpler balance sheet and no remaining notes that can be converted to shares at a discount.
“The recent actions taken to reduce the debt and the number of outstanding shares of XALL common stock demonstrate our management team’s commitment to the company’s 2018 plan and desire to make Xalles more attractive to investors, partners and target acquisition companies,” stated Xalles CEO, Thomas Nash. “I have a long-term vision for this company in the fintech space and I am assembling an executive team that shares my vision.”
Xalles will continue efforts to reduce debt and strengthen its balance sheet while seeking strategic acquisitions.
About Xalles Holdings Inc. (OTC: XALL)
Xalles Holdings Inc. is a holdings company that focuses on direct investments in disruptive fintech companies. The company actively seeks acquisition targets with solid management teams and business models, large total attainable markets (TAM), and lucrative exit opportunities to invest and accelerate growth in. Recently, the company has placed emphasis on leveraging blockchain technologies to provide industry-leading financial reconciliation and auditing solutions, which will allow for the capture of recurring revenue streams over time. For more information visit: http://xalles.com
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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