WASHINGTON, DC, Aug. 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 Q2 results from yesterday’s quarterly filing as well as plans for the remainder of 2019.
The Xalles Holdings Q2 report which includes the financial statements ending June 30, 2019, illustrate the corporate structure that is now in place and positioned to create value for our shareholders, both in terms of asset appreciation and new revenue. Xalles has now just reported its 5th consecutive revenue producing quarter and during 2020 expects to attain ongoing profitability through revenue growth and continued vigilant expense management techniques.
The corporate structure consisting of the 4 Xalles branded subsidiaries, combined with the 3 companies currently inside the Xalles Fintech Accelerator Program, will generate enough business to attain profitability and asset appreciation.
During the second half of 2019, Xalles Technology will complete the design and development of the first version of the Blockchain-based X2X system for financial transaction reconciliation, which is designed to support business and government payments and post-payment auditing. Xalles Limited then expects revenue to be produced from the system deployments in 2020.
Xalles Financial Services is currently in the due diligence phase for the previously announced LYC Mortgage acquisition and it is expected to close within Q3. This will create a structure within which new mortgage business portfolios can be acquired to dramatically increase revenues in 2020. Following the same business model of putting acquired portfolios through a profitable engine, Xalles Financial Services expects to launch the Cryptocurrency Trading Engine in 2019, that has undergone live testing, and acquire multiple cryptocurrency asset portfolios to drive increases in value through the trading engine.
In the Fintech Accelerator Program, Co-Owners Rewards is working to launch a general purpose reloadable prepaid payment card with a stock rewards program. Co-Owners is currently in discussions to partner with existing marketing companies for investment and distribution of the product to new communities upon the spin out of Co-Owners as its own public entity. Amazing Living Enterprises is gearing up for strong expansion in Q4 as it develops new product offerings and expands its sales network. Both companies, plus the Global Savings Network are expected to reach profitability in 2020.
In terms of the corporate structure, Xalles is a pursuing a “Reg A” offering in addition to other fundraising efforts, to be completed in 2019. Xalles will also complete its audits and apply to uplist to OTCQB before the end of this year.
“The structure and growth plan for the company contains a balance of diversity and synergy so that we can effectively use limited resources to obtain the best results,” stated Xalles Holdings CEO, Thomas Nash. He added, “We will see the culmination of the fundraising efforts, acquisitions and organic growth in the second half of 2019 put us on the path to tremendous growth in 2020.”
The Xalles Holdings team continues to look for opportunities to grow the business and improve the company’s balance sheet.
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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