We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Customisable watchlists with full streaming quotes from leading exchanges, such as LSE, NASDAQ, NYSE, AMEX, Bovespa, BIT and more.
| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Xcelplus International Inc (CE) | USOTC:XLPI | OTCMarkets | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.0022 | 0.00 | 00:00:00 |
From Dec 2019 to Dec 2024
Renewable fuels leader XcelPlus Global Holdings, Inc. (Pink Sheets: XPGH) is realizing its potential under new management direction, announcing financial results.
"While management is not pleased about the reported loss in operating results, it is well pleased with the progress made during the first months in re-establishing the direction of the company," said J. Michael Parsons, president of XcelPlus Global Holdings Inc. "The company improved tremendously over any previous period and had some great things happen, but timing was such that a few of them did not register in this quarter.
"We have only a few months of history and results for what management refers to as the 'new' XcelPlus Global Holdings, but we want our stakeholders to know we are confident about our strategy, our growth prospects and the overall direction of the business. We now have a clear path and a positive direction in which to move the company forward rapidly.
"Demand for our products is excellent," Parsons continued. “These fuels burn cleaner, so carbon emissions are reduced. The fuels are safer to handle from a HAZMAT point of view, and they are easier for the customer to use and manage. Our affiliates, such as Freedom Fuels and Gen-X Energies, continue to experience a good reception with customers, and our volume increases daily. Our growth is tempered only by state environmental permitting requirements."
Genesis of XcelPlus Global Holdings
XcelPlus Global Holdings, Inc. was a private company until April 2006, when it merged with E4 World a Pink Sheet company formerly known as Korean Station, World of Wheels and Envira Minerals. This enabled XcelPlus to emerge as a publicly traded company and add shareholders. As part of the transaction, shareholders of record in XcelPlus International, Inc. (Pink Sheets: XLPI) prior to April 2006 were granted one share of XPGH for each 20 shares of XLPI owned. Further, XcelPlus Global Holdings was to assist in providing financing to XLPI, and though the venture capital firm of McGuire Woods, Inc., was retained, funding did not materialize.
Between the merger date in 2006 and February 2009, XPGH produced no revenues, deferred its operating expenses and incurred debt.
New Beginning
In February 2009, J. Michael Parsons of Parsons Energy was contracted by XcelPlus Global Holdings to serve as president and CEO, set a new strategic direction, manage operations and move the dormant company forward. Under Parsons' leadership, the company cleared up its debt, brought SEC filings up to date and transformed the company from a dormant shell into a revenue producer.
Parsons, on behalf of XPGH, entered into long-term agreements with Freedom Fuels and Gen-X Energies, both of which have complementary strengths to support the present and future growth plan for XPGH. Going forward, more strategic alliances are planned.
"Interest in this company has become intense, as might be expected, and for that reason we will begin issuing monthly financial updates," Parsons said. "We are also considering a management conference call for shareholders in September. All of these can be considered mileposts on what appears to be a very strong growth track for XcelPlus Global Holdings for the foreseeable future."
This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties, including, without limitation, the ability to obtain financing and regulatory and shareholder approval for anticipated actions.
XCELPLUS GLOBAL HOLDINGS, INC.
FINANCIAL STATEMENTS
Six Months Ended June 30, 2009
ACCOUNTANTS' COMPILATION REPORT
To the Board of Directors XcelPlus Global Holdings, Inc. Dothan, AlabamaWe have compiled the accompanying balance sheet of XcelPlus Global Holdings, Inc. as of June 30, 2009, and the related statements of income and retained earnings for the six months then ended, in accordance with Statements on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants.
A compilation is limited to presenting, in the form of financial statements and supplementary schedules, information that is the representation of management. We have not audited or reviewed the accompanying financial statements and supplementary schedules and, accordingly, do not express an opinion or any other form of assurance on them.
Management has elected to omit substantially all of the disclosures and the statement of cash flows required by generally accepted accounting principles. If the omitted disclosures and statement were included in the financial statements, they might influence the user's conclusion about the Company's financial position, results of operations, and cash flows. Accordingly, these financial statements are not designed for those who are not informed about such matters.
Bevis, Eberhart, Browning, Walker, Stewart, P.C. Dothan, Alabama July 13, 2009 XCELPLUS GLOBAL HOLDINGS, INC. BALANCE SHEET June 30, 2009ASSETS
CURRENT ASSETS
Cash
$
90,456
Accounts receivable26,000
TOTAL CURRENT ASSETS
116,456FURNITURE, FIXTURES AND EQUIPMENT, net
871INTANGIBLES
211,000$ 328,327
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Trade accounts payable $ 31,556TOTAL CURRENT LIABILITIES
31,556LONG-TERM DEBT
-DEFERRED INCOME TAXES
STOCKHOLDERS' EQUITY
Common stock, $.001 par value, 190,000,000 authorized, 45,909,162 issued and outstanding
45,909Preferred stock, $.001 par value, 10,000,000 authorized, 6,200,000 issued and outstanding
6,200 Additional paid-in capital 474,159Retained earnings (deficit)
(229,497
)
296,771
$ 328,327 See accountants' compilation report. XCELPLUS GLOBAL HOLDINGS, INC. STATEMENT OF INCOME AND RETAINED EARNINGS For the Six Months Ended June 30, 2009REVENUE
$ 26,000OPERATING EXPENSES
Advertising and promotion 23,694 Automobile 7,389 Bank charges 279 Computer and internet 340 Contracted services 115,784 Corporate fees 5,624 Depreciation 46 Insurance 4,856 Investor relations 51,500 Meals and entertainment1,462 Office supplies 608 Postage and delivery 80 Product development
622 Professional fees 1,334 Rent 650 Telephone 1,496 Travel 20,979 236,743
NET INCOME (LOSS)
(210,743
)
BEGINNING RETAINED EARNINGS (DEFICIT)
(768,754
)
Prior period adjustment 750,000ENDING RETAINED EARNINGS (DEFICIT)
$
(229,497
)
See accountants' compilation report.
1 Year Xcelplus (CE) Chart |
1 Month Xcelplus (CE) Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
