WASHINGTON, DC, Nov. 24, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire -- Xalles Holdings Inc. (OTC: XALL), a fintech holding company providing technology and financial services solutions, is pleased to announce the highlights from the third quarter released disclosures and updates about the company’s plans for the remainder of the fourth quarter of 2020. Xalles has achieved many results during the last quarter and is looking ahead to a strong finish to 2020.
Q3 Results
Xalles Holdings released its Quarterly Report and Financial Statements on November 22, 2020 for the quarter ending September 30, 2020. Xalles recorded its fourth consecutive quarter of profitability. Xalles also achieved its single largest quarter for revenue and income.
Xalles Holdings consolidated revenue was $354,648 with income of $182,181 for the third quarter ending September 30, 2020.
During the third quarter, Xalles initiated the process to complete the financial audits which will allow the company to become fully SEC reporting in the fourth quarter. This process was initiated after the company’s management team decided to withdrawal a Tier I Reg A+ application with the aim to have a Tier II Reg A+ application to be submitted as soon as the company becomes fully SEC reporting again.
Q4 Interim Results and Plans
Argus Technology Partners has added a Data Asset Management practice to its services offerings. This set of service offerings includes network and data inventorying, analytics and governance. The new products and services enhance their existing offerings of Biometric Security, Quantum Computing and Software Integration.
Xalles is expecting to close the two previously announced acquisitions before the end of this year, specifically, Adaptive Metadata Solutions and 1Rivet Global. Both companies will be key to realizing significantly larger revenue gains in 2021.
Xalles is planning to acquire or license additional payment technology during the fourth quarter to modernize the Co-Owners Rewards and Global Savings Network projects and accelerate their growth in 2021.
In this quarter Xalles will invite the first group of small fintech firm applicants to become part of the Xalles Fintech Studio. This is a growth program which will provide unique opportunities to a select group of applicants that allows their companies to succeed while under Xalles’ guidance.
The Xalles Holdings strategy also includes a plan to uplist to the OTCQB (Quotation Board) prior to the end of 2020.
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
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