WASHINGTON, DC, May 15, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Xalles Holdings Inc. (OTC: XALL), a company focusing on accelerating fintech companies, leveraging blockchain technology for financial reconciliation, and payment auditing solutions, today announce a series of corporate developments and plans for the remainder of 2019.
The Xalles management team is pleased to announce that after some delays it has completed its year end 2018 and Q1 2019 OTC filings of disclosures and financial statements. Our focus for the balance of 2019 includes the analysis of some additional acquisition targets in the financial services industry and fundraising efforts to support the growth of our existing subsidiaries. Our fundraising activities include debt consolidation, new equity investment, and planning for a future registered public offering to support expansion and acquisitions.
Xalles would like to outline the key short-term strategy for each subsidiary in 2019 below beginning with the wholly owned “permanent operating companies” under Xalles Holdings Inc.:
- Xalles Limited – obtain new payment auditing clients including pursuing the U.S. Government through a General Services Administration (GSA) contract, and obtain new X2X clients once the new version of the system is released
- Xalles Technology Inc. – launch the new X2X Blockchain-based system for supporting international investment and operational financial reconciliation projects
- Xalles Capital Inc. – management of holdings through partial acquisition of entities or spin offs of companies that are part of the Fintech Accelerator Program
- ArrowVista Corporation - to be dissolved in 2019 as IP/assets have been transferred into Xalles Limited Inc.
- BlockForge Inc. - to be dissolved in 2019 as IP/assets have already been transferred into Xalles Technology Inc.
In addition to the above Xalles branded companies, Xalles Holdings currently also has 3 wholly owned subsidiary companies in our accelerator program, each listed below with their 2019 strategy:
- Amazing Living Enterprises Inc. – acquisition of new customers, affiliates and expansion of the line of products and services offered
- Co-Owners Rewards Inc. – launch the new prepaid card program with stock rewards
- Global Savings Network Inc. – launch the new discount card for non-profit organizations to assist in fundraising by distributing cards to consumers looking for discounts at local merchants
As part of the Fintech Accelerator program, Xalles is assisting these three companies, and others to follow, to launch new products and services, grow and then plan the exit strategy. This will create value for Xalles shareholders through retained ownership managed by Xalles Capital or cash coming into Xalles from an outright sale.
“While we had some delays against our plan earlier this year, I am pleased to report now that we have improved upon our plans for fundraising and the growth of our subsidiaries and we expect great progress and results in 2019,” stated Xalles Holdings CEO, Thomas Nash. He added, “We have a unique business model in place for the Fintech industry and we are excited to be able to make future announcements about our existing subsidiaries and new companies that we are working to acquire and bring into the current corporate structure.”
The Xalles Holdings team continues to work to improve the company’s balance sheet and income statements as 2019 progresses.
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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