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These dirtbags pretend that common votes matter on Par's rigged vote.
They are exactly what Nasdaq should eliminate from the exchange.
GlobeNewswireMay 03, 2023
The Exela Special Meeting of Stockholders is scheduled for Thursday, May 4, 2023 and voting is open.
Proposal 1 will facilitate continued listing on The Nasdaq Capital Market.
IRVING, Texas, May 03, 2023 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. ("Exela" or "the Company") (NASDAQ: XELA, XELAP), a leader in business processing automation, is reminding our shareholders to vote TODAY FOR Proposal 1, an amendment to effect a reverse stock split.
Why? Exela is better served by all of our constituents to remain on Nasdaq for continuity. Due to our broad and global investor global base, it is critical that stockholders vote, no matter how many shares they own.
Can I change my vote? Yes, investors who may have voted Against or Abstain the proposal can change their vote to FOR.
XELA$
From The Street on April 23rd:
RECOMMENDATION
We rate EXELA TECHNOLOGIES INC (XELA) a SELL. This is driven by some concerns, which we believe should
have a greater impact than any strengths, and could make it more difficult for investors to achieve positive
results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas,
such as its deteriorating net income, poor profit margins and generally disappointing historical performance
in the stock itself.
HIGHLIGHTS
The company, on the basis of change in net income from the same quarter one year ago, has significantly
underperformed when compared to that of the S&P 500 and the Comp Infrastructure, Data, Web Hosting,
Related Se subsector. The net income has significantly decreased by 174.9% when compared to the same
quarter one year ago, falling from -$70.61 million to -$194.14 million.
The gross profit margin for EXELA TECHNOLOGIES INC is rather low; currently it is at 18.02%. It has decreased
from the same quarter the previous year. Along with this, the net profit margin of -72.72% is significantly
below that of the subsector average.
XELA's stock share price has done very poorly compared to where it was a year ago: Despite any rallies, the
net result is that it is down by 99.46%, which is also worse that the performance of the S&P 500 Index.
Investors have so far failed to pay much attention to the earnings improvements the company has managed
to achieve over the last quarter. Naturally, the overall market trend is bound to be a significant factor.
However, in one sense, the stock's sharp decline last year is a positive for future investors, making it cheaper
(in proportion to its earnings over the past year) than most other stocks in its subsector. But due to other
concerns, we feel the stock is still not a good buy right now.
XELA, with its decline in revenue, slightly underperformed the subsector average of 3.2%. Since the same
quarter one year prior, revenues slightly dropped by 9.3%. The declining revenue has not hurt the company's
bottom line, with increasing earnings per share.
EXELA TECHNOLOGIES INC reported significant earnings per share improvement in the most recent quarter
compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per
share growth over the past two years. During the past fiscal year, EXELA TECHNOLOGIES INC continued to
lose money by earning -$9.39 versus -$30.40 in the prior year.
Ernie's note: Keep in mind that the loss per shares is compromised since they did that 20 to 1 RS in July so a sane person would take that -$9.39 and multiply by 20 to get a more realistic idea of how poorly this stock has performed.
Boooom i agree
Fear not, BUY the dips!!!
.12 c coming
RS is guaranteed at this point only possible question is 100 or 200 to 1 and at 4 cents it will be 200 to 1 and they can still get tossed to pinks if the impotent CEO can't keep it up long enough to count.
Next you are going to see Par and his gang of ingin rats jumping ship as the upper decks begin to submerge to the depths of pinkyville ocean.
When the auditors can't put lipstick on this pig any longer - they bail - it just isn't worth your reputation to work for a loser and pretend it's a viable operation - IT IS NOT.
On April 4, 2023, KPMG LLP (“KPMG”), the independent registered public accounting firm of Exela Technologies, Inc. (the “Company”), notified the Company that it has decided to decline to stand for re-appointment as the independent registered public accounting firm of the Company. However, KPMG will remain the Company’s independent registered public accounting firm until completion of its review of the consolidated interim financial statements of the Company and subsidiaries as of and for the period ended March 31, 2023. As described below, the decision to decline to stand for re-appointment as the independent registered public accounting firm of the Company is not the result of any disagreement with KPMG.
The audit reports of KPMG on the consolidated financial statements of the Company and subsidiaries as of and for the years ended December 31, 2022 and 2021 did not contain any adverse opinion or a disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principles,except as follows: KPMG LLP’s report on the consolidated financial statements of Exela Technologies, Inc. and subsidiaries as of and for the years ended December 31,2022 and 2021 contained a separate paragraph stating that: “The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 2 to the consolidated financial statements, the Company has a history of netlosses, net operating cash outflows, working capital deficits, significant cash payments for interest on long-term debt, and significant current maturities of long-term debt that raise substantial doubt about its ability to continue as a going concern. Management’s plans in regard to these matters are also described in Note 2. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.”
KPMG LLP’s report on the consolidated and combined financial statements of Exela Technologies, Inc. and subsidiaries as of and for the years ended December 31, 2021 and 2020, contained a separate paragraph stating that: “The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 2 to the consolidated financial statements, the Company has a history of net losses, net operating cash outflows, working capital deficits, and significant cash payments for interest on long-term debt and for contingent liabilities that raise substantial doubt about its ability to continue as a going concern. Management’s plans in regard to these matters are also described in Note 2. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.”
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