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XcelMobility Inc (XCLL)

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Last Post: 6/23/2017 2:38:50 PM - Followers: 52 - 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

 

 

 

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PostSubject
#2219   Time to take out under .0025 now SMART STOCK 06/23/17 02:38:50 PM
#2218   Yes common you know it's coming it's not a TurningPoint 06/23/17 02:00:01 PM
#2217   01 I'm waiting on you NewBreedd 06/23/17 01:19:37 PM
#2216   good article that backs up what I was Monroe1 06/22/17 09:21:01 PM
#2215   Good China is lighting the ban now SMART STOCK 06/21/17 07:45:06 PM
#2214   https://www.yicaiglobal.com/news/china-plans-lift-online-lottery-sales-ban-year- BONGWHOLE 06/21/17 06:31:19 PM
#2213   http://m.digitaljournal.com/pr/3227101 $XCLL $ BONGWHOLE 06/21/17 06:26:46 PM
#2212   Really SMART STOCK 06/21/17 11:29:52 AM
#2211   Without any problem double digit I never think SMART STOCK 06/18/17 12:08:28 AM
#2210   If this thing touches .05 I will publicly money2013 06/17/17 11:06:52 PM
#2209   Someone picked more than 5m at ask yesterday SMART STOCK 06/15/17 05:59:13 PM
#2208   Small amount of shares under .001 traded . I SMART STOCK 06/15/17 05:34:22 PM
#2207   lets see if we hold above .001 Monroe1 06/15/17 03:44:38 PM
#2206   You could be absolutely correct !!!!---especially based on BONGWHOLE 06/15/17 08:36:42 AM
#2205   Going to .0130 now SMART STOCK 06/15/17 06:12:23 AM
#2204   I strongly believe with updates China regulation minimum SMART STOCK 06/14/17 07:44:16 PM
#2203   This will be back to .01, in no BONGWHOLE 06/14/17 06:44:02 PM
#2202   Xcll coming to life. Holding tight. NewBreedd 06/14/17 04:17:46 PM
#2201   We will see .003 soon SMART STOCK 06/14/17 12:07:35 PM
#2200   A more solid base seems to be developing. Monroe1 06/14/17 11:27:53 AM
#2199   People need to read 8k carefully and operation SMART STOCK 06/11/17 09:30:15 PM
#2198   I may have got a few one's but Monroe1 06/08/17 03:02:44 PM
#2197   I remember those highs! Monroe1 06/08/17 03:00:15 PM
#2196   Long term with updates double digits and I SMART STOCK 06/08/17 12:28:15 PM
#2195   Likewise!---I got in Spring 2016, at .000135, and BONGWHOLE 06/08/17 12:23:03 PM
#2194   What we need to keep in mind is Kelke41 06/08/17 12:05:01 PM
#2193   Well said! Kelke41 06/08/17 11:52:49 AM
#2192   No telling how high the pps will be Monroe1 06/08/17 11:47:41 AM
#2191   Great article. Such strong swift action will bring Monroe1 06/08/17 10:47:27 AM
#2190   And this from January: Kelke41 06/08/17 09:02:12 AM
#2189   They have always said that they were going Kelke41 06/08/17 08:50:22 AM
#2188   Lifting the ban should be near with the Monroe1 06/07/17 01:08:26 PM
#2187   SOON you can load up at .0001 and money2013 06/07/17 12:13:32 PM
#2186   News from China or news from company is Monroe1 05/31/17 11:12:41 AM
#2185   Time to pick up some more. Very small Monroe1 05/31/17 11:11:36 AM
#2184   .05 easily will hits SMART STOCK 05/30/17 02:02:25 AM
#2183   NO DOUBT!---short term, .03 - .05, easily once BONGWHOLE 05/29/17 11:59:53 PM
#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
PostSubject