Xalles Announces Current Negotiations and Updates

WASHINGTON, D.C., June 13, 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 announces the current status of multiple primary negotiations underway to prepare the company for the next quarter and the future.

As previously announced, Xalles plans to complete its audits, the process to become fully SEC reporting, and submit its Quotation Board (OTCQB) uplist application in sequence. While there were delays in late 2018 with those activities, the key milestones are now planned to be completed within the third quarter of 2019. 

In tandem with those corporate reporting related activities, the company is currently in the planning and negotiation stages to secure debt financing and initiate a new Regulation A (Reg A) equity offering. We expect those financing agreements to be completed this month, with the equity submission requiring a SEC review and approval to offer new registered shares of the company to happen during the third quarter.

Xalles is pleased to also report that the company is engaged in negotiations to acquire new technology that could enhance our X2X system offerings. The design for the new version of X2X, our core solution platform that supports our Investment & Financing System (“IFS”) and Financial Transaction Reconciliation (“FTR”) services is almost completed. The system, which is designed on a Distributed Ledger Technology (DLT) Blockchain infrastructure, will be enhanced through state-of-the-art authentication and controls technology, and when completed, will offer a world class solution for corporations, government agencies and investment funds to process critical investment and commerce transactions.

The Xalles team plans to utilize some of the fundraising proceeds for completing the development of the new X2X system and implementing it with new customers through its IFS and FTR applications. 

“We are entering what is potentially the most active and exciting quarter in our company’s history,” stated Thomas Nash, Xalles Holdings CEO. He added, “We have a motivated team to complete the administrative, systems development, and deal making activities that are all running in parallel and should all yield great results for the company in Q3 and beyond.” 

The company would like all shareholders to know that Xalles Holdings, including all its subsidiaries’ directors, officers and employees have restricted shares only. The company currently has no free trading shares (shares in the float) that are owned by insiders or affiliates, which helps all staff focus on the key activities outlined above to build a stronger business for the future.

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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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

Contact:

Investor Relations Contact:

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202-595-1299