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XcelMobility Inc (XCLL)

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Last Post: 5/27/2017 11:49:36 PM - Followers: 51 - Board type: Free - Posts Today: 0

A/S increased to 4.2B 5/18/2016  
http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=XOYnRfwm0iR24fPE2HAPPQ%253d%253d&nt7=0

****** O/S 660,553,090 shares a/o May 13, 2016 At Par Value .001****
http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=11401890

Reasons for the Amendment 


The primary purpose of this amendment to increase the number of authorized shares of Common Stock is to make available for future issuance by us additional shares of Common Stock and to have a sufficient number of authorized and unissued shares of Common Stock to maintain flexibility in our corporate strategy and planning. We believe that it is in the best interests of our Company and its stockholders to have additional authorized but unissued shares available for issuance to meet business needs as they arise. The Board of Directors believes that the availability of additional shares will provide our Company with the flexibility to issue Common Stock for possible future financings, stock dividends or distributions, acquisitions, stock option plans, and other proper corporate purposes that may be identified in the future by the Board of Directors, without the possible expense and delay of a special stockholders’ meeting. The issuance of additional shares of Common Stock may have a dilutive effect on earnings per share and, for stockholders who do not purchase additional shares to maintain their pro rata interest in our Company, on such stockholders’ percentage voting power. 

The authorized shares of Common Stock in excess of those issued will be available for issuance at such times and for such corporate purposes as the Board of Directors may deem advisable, without further action by our stockholders, except as may be required by applicable law or by the rules of any stock exchange or national securities association trading system on which the securities may be listed or traded. Upon issuance, such shares will have the same rights as the outstanding shares of Common Stock. Holders of Common Stock have no preemptive rights. The availability of additional shares of Common Stock is particularly important in the event that the Board of Directors determines to undertake any actions on an expedited basis and thus to avoid the time, expense and delay of seeking stockholder approval in connection with any potential issuance of Common Stock of which we have none contemplated at this time other than as discussed herein. 

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11389481 




We have no arrangements, agreements, understandings, or plans at the current time for the issuance or use of the additional shares of common stock proposed to be authorized. The Board of Directors does not intend to issue any common stock except on terms which the Board of Directors deems to be in the best interests of our company and its then existing stockholders.

Revenue recognition

 
Our source of revenues is from internet accelerator software, which includes new software license revenues and software plus hardware and maintenance arrangements, and the source of revenue of Jifu is from developing and distributing optical transmitters and receivers, electronic surveillance equipment, and other communications equipment; and trading of electronic products, network products, and communications equipment. We also engage in software research and development, GPS system development and website development projects along with maintenance arrangements.

   

We evaluate revenue recognition based on the criteria set forth in FASB ASC 985-605, Software: Revenue Recognition and Staff Accounting Bulletin (“SAB”) No. 101, Revenue Recognition in Financial Statements, as revised by SAB No. 104, Revenue Recognition.

 

 

Patents

The Company has three patents as listed in the table below relating to its internet accelerator software products. Fees related to registering these patents were insignificant and have been expensed as incurred.

Patent   Register Number   Issued By
Mach5 Internet Acceleration Software V.6.0   2007SR09253   National Copyright Administration of PRC
Mach5 Enterprise Acceleration Software V.3.3   2009SR058767   National Copyright Administration of PRC
Mach5 Web Browser Software   2010SR001089   National Copyright Administration of PRC

 


 

CEO Mr. Renyan Ge
Mr. Ge currently serves as the Chief Executive Officer of the Company and a member of the Board and has held those positions since 2011.
Effective December 31, 2015, the Board appointed Mr. Renyan Ge as Chairman of the Board.
 
Effective December 31, 2015, Mr. Strauss resigned as Executive Chairman and a member of the Board and from all positions at the Company’s subsidiaries,
http://ih.advfn.com/p.php?pid=nmona&article=69895031

CONTACT INQUIRY

 

 

 

XCLL

 
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PostSubject
#2182   I will add more here now and wait SMART STOCK 05/27/17 11:49:36 PM
#2181   Seems that way. Kelke41 05/27/17 10:33:11 PM
#2180   This one is huge . Ban is lifting soon http://www.gamingintelligence.com/legal/ SMART STOCK 05/27/17 10:08:59 PM
#2179   http://www.gamingintelligence.com/legal/43127-china-s-first-mobile-lottery-sales Kelke41 05/27/17 06:52:28 PM
#2178   yes, i forgot about that. Monroe1 05/24/17 03:43:58 PM
#2177   Also o/s will be reduced a lot Waiting for SMART STOCK 05/24/17 02:37:12 PM
#2176   The balance sheet will reflect a much stronger Monroe1 05/24/17 01:19:58 PM
#2175   No doubt Robert Strauss has those plans. This Monroe1 05/24/17 01:10:27 PM
#2174   Buy whatever you can now 8 k is good SMART STOCK 05/24/17 01:01:42 PM
#2173   XCLL: we are very close to get updates SMART STOCK 05/21/17 05:21:54 AM
#2172   Surely China will get this back online before Monroe1 05/20/17 07:37:45 PM
#2171   ditto, appreciated, guess I give you a follow, Monroe1 05/20/17 03:36:57 PM
#2170   Thank you for the polite response. This approach money2013 05/20/17 03:23:34 PM
#2169   well move on if you don't like junk Monroe1 05/20/17 02:59:41 PM
#2168   you continue to demonstrate you have no clue money2013 05/19/17 10:29:20 PM
#2167   sounds like your typical iflub flipper, impatient as always. Monroe1 05/19/17 09:34:17 PM
#2166   25% down from this already low low price. money2013 05/19/17 03:41:28 PM
#2165   more than you do, moroon1 money2013 05/18/17 11:04:33 PM
#2164   what the .... do you know? Johnny Come Lately Monroe1 05/18/17 10:40:05 PM
#2163   https://gamblingcompliance.com/premium-content/insights_analysis/sports-betting- BONGWHOLE 05/16/17 05:08:21 PM
#2162   No 10K yet on this POS!!!! Flipping? 150K money2013 05/16/17 01:03:27 AM
#2161   We all need to come together and do NewBreedd 05/15/17 06:35:27 PM
#2160   http://www.gamingintelligence.com/lottery/42365-agtech-plots-chinese-online-lott BONGWHOLE 05/08/17 10:09:29 PM
#2159   http://www.ggrasia.com/mainland-china-first-quarter-lottery-sales-up-5-pct/ BONGWHOLE 05/08/17 10:00:00 PM
#2158   Still here waiting for this beauty to get NewBreedd 05/04/17 10:44:52 AM
#2157   Good going to down so I can get SMART STOCK 05/04/17 01:25:48 AM
#2156   oh yes, that is correct! Forgot about that. Monroe1 05/03/17 12:48:37 PM
#2155   I believe they made two or three acquisitions SMART STOCK 05/03/17 12:41:38 PM
#2154   Any updates SMART STOCK 05/03/17 12:32:59 PM
#2153   After the China lottery reopens they will have Monroe1 05/03/17 12:24:59 PM
#2152   both from what I know. Monroe1 05/03/17 12:23:56 PM
#2151   Are they moving forward with lottery world or SMART STOCK 05/03/17 12:15:04 PM
#2150   I just want to say this to any Monroe1 05/03/17 12:13:36 PM
#2149   XCLL could be the biggest sleeper stock yet. Monroe1 05/03/17 12:10:30 PM
#2148   Lottery and casino is going online in USA https://www.google.com/amp/www.foxnews SMART STOCK 05/03/17 11:30:16 AM
#2147   Japan is making massive move in lottery http://www.lottoshop.com/japan/ SMART STOCK 05/03/17 11:23:36 AM
#2146   Agree they suppose to share the updates SMART STOCK 05/03/17 10:17:59 AM
#2145   They should communicate ... like a PR update Monroe1 05/02/17 11:50:35 PM
#2144   I have been in this stock since the No short 05/02/17 07:17:35 PM
#2143   Insider wants more shares to hold so they SMART STOCK 05/01/17 10:35:41 PM
#2142   that would be a breath of fresh air. Monroe1 05/01/17 12:02:52 PM
#2141   I believe Japan updates will put soon SMART STOCK 05/01/17 10:52:45 AM
#2140   Has anyone tried calling them? Kelke41 04/28/17 01:36:11 PM
#2139   Any PR would work just fine. Nice to Monroe1 04/28/17 01:23:26 PM
#2138   Mgmt is sleeping and they are just trying SMART STOCK 04/27/17 08:08:33 PM
#2137   Hello XCLL management... read below, and enter. Let's Monroe1 04/26/17 04:45:02 PM
#2136   Let me know where is bottom so I SMART STOCK 04/25/17 03:47:38 PM
#2135   I nominated XCLL for one of the China Monroe1 04/24/17 11:43:28 AM
#2134   Did you get to talk to HQ? If Monroe1 04/24/17 11:41:48 AM
#2133   and this: Monroe1 04/21/17 03:15:55 PM
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