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XcelMobility Inc (XCLL)

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Last Post: 4/19/2018 9:23:04 PM - Followers: 54 - Board type: Free - Posts Today: 1

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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PlusOneCoin Top Posts
#2693   FULL DESCRIPTION XcelMobility Inc. (Xcel), incorporated on December 27, Badali 04/18/18 02:01:52 AM
PostSubject
#2694   Wow, I think recent meeting of Japanese leader Monroe1 04/19/18 09:23:04 PM
#2693   FULL DESCRIPTION XcelMobility Inc. (Xcel), incorporated on December 27, Badali 04/18/18 02:01:52 AM
#2692   XcelMobility Inc is engaged in developing software solutions Badali 04/18/18 01:56:39 AM
#2691   No, sorry i have been so busy. My Monroe1 04/17/18 10:22:38 AM
#2690   Xcll watching very closely now Interesting Badali 04/17/18 09:59:34 AM
#2689   Did find any clue about Ali Baba China giant? Badali 04/16/18 11:37:56 PM
#2688   More eyes will be here soon. Days are Badali 04/16/18 11:31:03 PM
#2687   it is small trades. and sometime MM want Monroe1 04/16/18 05:00:55 PM
#2686   That's about how I see it. Monroe1 04/16/18 04:03:07 PM
#2685   Yep, the selling is tiny blocks, absolutely nothing SPM555 04/16/18 03:45:50 PM
#2684   Bid will Move up and seller will go high Badali 04/16/18 02:17:19 PM
#2683   I never saw like this bid 8.5m I am Badali 04/16/18 01:59:44 PM
#2682   Nope Badali 04/16/18 01:27:45 PM
#2681   To answer that, this is normal type flipper Monroe1 04/16/18 01:22:31 PM
#2680   Not sure why people are selling at these Badali 04/16/18 12:36:27 PM
#2679   Another clue is Ali Baba making any deal Badali 04/15/18 11:12:52 PM
#2678   Mee Too but I will stay more there Badali 04/15/18 10:41:47 PM
#2677   Good Badali 04/15/18 08:04:50 PM
#2676   When the online lottery ban is lifted, I Monroe1 04/15/18 07:01:00 PM
#2675   I just don't think the company is crap Monroe1 04/15/18 06:58:46 PM
#2674   I am not sure which Chinese group is Badali 04/15/18 06:29:21 PM
#2673   Poor Monroe money2013 04/15/18 06:29:15 PM
#2672   One time I spoke with old head of Monroe1 04/15/18 06:18:33 PM
#2671   Do you speak Mandarin? You rush to Monroe1 04/15/18 06:16:26 PM
#2670   Next move will take this .015 without any Badali 04/15/18 12:42:05 AM
#2669   Once again. Management of this company is CRAP. money2013 04/14/18 09:55:29 PM
#2668   Let’s try again and find out. They will Badali 04/14/18 11:56:37 AM
#2667   I have called them a couple times. An Kelke41 04/14/18 11:37:58 AM
#2666   That is true and let’s find out with Badali 04/13/18 09:28:49 PM
#2665   Becoming current and some communication from the company Monroe1 04/13/18 05:39:02 PM
#2664   Xcll is already in business in China and Badali 04/13/18 05:09:16 PM
#2663   500.com made same decision for location based. That Monroe1 04/13/18 04:36:28 PM
#2662   Yes, there has been news. The government of Monroe1 04/13/18 11:16:28 AM
#2661   For sure that will happen. The trade war Monroe1 04/13/18 11:13:08 AM
#2660   It will Badali 04/13/18 08:52:19 AM
#2659   Any actual news on China reinstating online lottery? bige777 04/13/18 08:43:22 AM
#2658   Well that is the game. When it goes Badali 04/12/18 04:28:18 PM
#2657   need company now to issue 10K/Q to get current. Monroe1 04/12/18 04:01:45 PM
#2656   Xcll is looking .01 break in near future Badali 04/12/18 09:53:54 AM
#2655   Until April 17 th just tax sale and Badali 04/11/18 11:57:45 PM
#2654   Majority does not know about xcll yet Let’s spread Badali 04/11/18 10:32:48 PM
#2653   I look forward to the Chinese community joining here. Monroe1 04/11/18 10:11:42 PM
#2652   I agree. Some new buyers will be lucky. Monroe1 04/11/18 03:15:47 PM
#2651   Watching time is over . Now is the Badali 04/11/18 12:54:27 PM
#2650   Good post. Monroe1 04/10/18 11:05:14 PM
#2649   Our Products XcelMobility provides software products for mobile devices Badali 04/10/18 11:02:25 PM
#2648   Wearable Computing Our Markets The China Market In June of this Badali 04/10/18 11:01:38 PM
#2647   OUR BUSINESS Applications and solutions delivering next generation location Badali 04/10/18 11:00:15 PM
#2646   OUR MARKETS Aimed at becoming the premier provider of Badali 04/10/18 10:59:22 PM
#2645   WEARABLE COMPUTING From social media to cloud computing, location Badali 04/10/18 10:58:50 PM
PostSubject