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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% | 0.002201 | 11 | 00:00:00 |
The board of directors XcelPlus International Inc. (Pink Sheets: XLPI) announced today that the company has established a priority focus on marketing and revenue generating strategies for two of its core products: the fuel-saving Lubrilon™ engine additive, and biofuels for coal-fired utility boilers. The company also expressed its appreciation for the work of Rodd Hoffman, a board member and long-time consultant to the company, who has resigned.
According to Board Chairman Jon Chynoweth, XcelPlus International is exploring several mass-marketing strategies for Lubrilon, an additive for gasoline and diesel engines that has been tested by the U.S. Department of Energy and proven to improve fuel economy by 6 percent. "The new board has fresh ideas and is studying a number of 'outside the box' options to invigorate sales of core products," Chynoweth said. "This is a results-oriented board focused on revenue generation, and we believe Lubrilon has much more potential if it can get a marketing push behind it. With the government setting ever-higher mileage requirements for new cars, and a likely increase in Federal fuel taxes, the stage is set for Lubrilon to take off. Likewise, utilities are primed to adopt our biofuel supplement for coal-fired boilers, which has been test-proven to reduce sulfur and nitrous oxide emissions."
Chynoweth added that the company culture for XcelPlus International has changed under the new board. "This board is made up of high achievers from sales, marketing, engineering and biofuels sectors, and our objective is to guide this company to realize its potential," he stated. "We hope to have positive developments to report as the year unfolds."
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.
Investors Relations at investor@xcelplus.comXcelPlus International, Inc.http://Xcelplus.com/
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