XALL Xalles Holdings Inc (PK)

Xalles Has Streamlined Its Operations and the 2022 Results are Available in the Published Annual Report

WASHINGTON, D.C. -- February 6, 2023 -- InvestorsHub NewsWire -- Xalles Holdings Inc. (OTC: XALL), a fintech holding company providing technology and financial services solutions, today announced changes in late January to position the company for increased revenues in 2023 while streamlining operations.

The changes made to the organizational structure will assist the management team with further growth in 2023. The 2022 Annual Report and Financial Statements have been published and key results from last year include record revenues and profits since Xalles became a public entity. The 2022 annual revenue was $5.9 million while the net profit was approximately $1.1 million. Growth was achieved in Q4 with revenues and profits more than doubling from the Q3 results.

Xalles Holdings continues to operate using its three main group companies, namely Xalles Capital, Xalles Financial Services and Xalles Technology. Within that structure there have been changes made to the operating subsidiaries. As of January 31, 2023, Private Loyalty Club Inc., which was under Xalles Financial Services has been divested, and Vigor Crypto Holdings, LLC, which was under Xalles Capital Inc., has also been divested. GioBot Inc., the joint venture project linked to trading bots, has been made inactive. Xalles was not yielding the results it expected from these entities in 2022 and will focus on the higher yielding subsidiaries and projects moving forward.

 “Our core business relates to creating revenue streams linked to payment and financial reconciliation solutions. While this is supplemented by IT staffing and a couple of other business units, the largest opportunities for Xalles remain in the areas of having recurring revenue streams linked to technology, such as payment systems and artificial intelligence solutions,” stated Xalles Holdings CEO Thomas Nash.

2023 results are expected to build on the foundation developed in 2022, while achieving further growth through completion of acquisitions and organic growth through new client projects.

 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 and other 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: 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

www.xalles.com

202.595.1299 Office

Xalles (PK) (USOTC:XALL)
Historical Stock Chart
From Oct 2024 to Nov 2024

Xalles (PK) (USOTC:XALL)
Historical Stock Chart
From Nov 2023 to Nov 2024