WASHINGTON, DC, Oct. 25, 2018 (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 a series of corporate developments and changes.
During the third quarter of 2018 and continuing into October, the Xalles management team has been focused on three areas: corporate structural changes, new acquisitions and fundraising to support the Fintech Accelerator program.
In October, the payment audit services and all intellectual property were transferred from ArrowVista Corporation to Xalles Limited to simplify the organization structure. This results in having 3 wholly owned “permanent operating companies” under Xalles Holdings Inc., each listed below:
- Xalles Limited
- Xalles Technology Inc.
- Xalles Capital Inc.
Xalles Limited is now responsible for offering the X2X transaction reconciliation solutions, pre-payment and post-payment auditing services, and other payment industry consulting services. Xalles Technology is the system development group for designing and building the enhanced X2X system on the Blockchain platform. Xalles Capital is tasked with holding and managing external investments for companies that result from a spin off, or that the company owns a minority share in, outside of our accelerator program.
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:
- Amazing Living Enterprises Inc.
- Co-Owners Rewards Inc.
- Global Savings Network Inc.
Amazing Living Enterprises Inc. is a consumer eCommerce platform and referral marketing network. Co-Owners Rewards is a prepaid card issuer with a unique stock rewards business model. Global Savings Network is a not-for-profit fundraising system which offers consumer discounts at local merchants.
As part of the Fintech Accelerator program, Xalles is assisting these three companies to refine their business models, launch new products and services as needed, spur growth and then exit from being a wholly owned subsidiary. The exit could come in the form of a spin off/IPO or outright sale. Xalles plans to create exit events that will create value for Xalles shareholders through either some retained ownership managed by Xalles Capital and/or stock dividends to Xalles shareholders in the newly formed spin off entity, or cash coming into Xalles.
“I am pleased to report on the progress that has taken place in the past few months,” commented Xalles CEO, Thomas Nash. He added, “We have the structure and operational model for the Fintech Accelerator program in place and we have an increasing deal flow of financial services technology companies interested to become part of the program. I am excited to be able to share soon announcements about additional acquisitions as they are signed and close.”
Xalles also has made strides in its fundraising efforts to raise investment capital that will be used to support its Fintech Accelerator program. There will be additional news releases coming soon about new acquisitions or significant funding transactions.
Xalles Holdings continues to strive to improve the company fundamentals and it expects to be filing its upcoming third quarter report and financial statements on time with OTC Markets.
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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