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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