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XcelMobility Inc (XCLL)

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Last Post: 9/15/2017 1:44:39 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

 

 

 

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PostSubject
#2288   WOW when China catches up to the rest Monroe1 09/15/17 01:44:39 PM
#2287   A big time player getting a piece of Monroe1 09/13/17 03:37:36 PM
#2286   that makes good sense. we see the same Monroe1 09/13/17 02:58:18 PM
#2285   Although this news just broke recently, I think Kelke41 09/07/17 07:26:27 AM
#2284   This is a really good sign. These two Monroe1 09/06/17 01:53:16 PM
#2283   Recent info: Monroe1 09/06/17 01:51:05 PM
#2282   With each new ruling congress in China we Monroe1 09/06/17 12:15:50 PM
#2281   You too...enjoy! Kelke41 09/01/17 11:09:22 AM
#2280   Thanks! The good thing now I have time Monroe1 09/01/17 10:59:54 AM
#2279   19 Congress date released today...starts October 18th. New Kelke41 08/31/17 05:47:05 PM
#2278   Really wierd. Could be a signal, someone experimenting. Monroe1 08/31/17 04:51:12 PM
#2277   This volume is funny money2013 08/30/17 06:04:32 PM
#2276   I imagine they have all the bugs worked Monroe1 08/25/17 10:47:43 AM
#2275   I do remember this. It was just prior Kelke41 08/24/17 05:53:01 PM
#2274   Remember this? Wow, for a few months until Monroe1 08/24/17 04:48:26 PM
#2273   The lottery in the past has seen years Monroe1 08/24/17 02:54:34 PM
#2272   Once the people get access via mobile devices, Kelke41 08/24/17 02:15:35 PM
#2271   Here's another stat that outlines the potential of Kelke41 08/24/17 01:49:56 PM
#2270   it's all good. Ready to get this technology Monroe1 08/24/17 11:00:47 AM
#2269   I think our days of pricing in the Kelke41 08/24/17 10:21:24 AM
#2268   It could come anytime and like things happen, Monroe1 08/24/17 10:06:13 AM
#2267   "...May, 2017...Fast forward two years, China Welfare and Kelke41 08/23/17 04:20:58 PM
#2266   New rules are being announced after the 19th Kelke41 08/23/17 04:08:13 PM
#2265   We're getting closer !!----once news hit regarding the BONGWHOLE 08/23/17 03:31:58 PM
#2264   ohhh such volume. Someone hit the wrong button? waaa? Monroe1 08/23/17 12:34:36 PM
#2263   Love these wrong links. Dr Martin VanNostrand 08/22/17 04:05:30 PM
#2262   Just had my third cup! Smooth sailing this Monroe1 08/21/17 12:23:04 PM
#2261   totally staggering, this is going to catch a Monroe1 08/21/17 12:22:00 PM
#2260   Sorry, wrong link! https://seekingalpha.com/article/4099562-alibabas-next-crown Kelke41 08/18/17 07:05:19 AM
#2259   This is a rather long article describing AG Kelke41 08/18/17 07:02:51 AM
#2258   Another think I like about this XCLL while Monroe1 08/12/17 04:49:28 PM
#2257   A few years back when online was in Monroe1 08/12/17 04:44:54 PM
#2256   oh yes, the big players have taken a Monroe1 08/12/17 04:39:46 PM
#2255   AG Tech just released their mid-year financials and Kelke41 08/12/17 10:48:28 AM
#2254   LOADED & LOCKED !!!--$$XCLL $$ BONGWHOLE 08/10/17 04:53:41 PM
#2253   I'm ready!!! Kelke41 08/10/17 02:29:55 PM
#2252   China's two-year trial of mobile lottery sales in Monroe1 08/10/17 02:07:36 PM
#2251   Hong Kong-listed lottery supplier AGTech Holdings has taken Monroe1 08/10/17 10:00:08 AM
#2250   GREAT !----I'm accumulating at these prices !!! BONGWHOLE 08/08/17 11:38:26 AM
#2249   The good thing I like about this stock Monroe1 08/02/17 12:38:22 PM
#2248   I agree. If the timeline of a Q3 Kelke41 08/02/17 09:36:36 AM
#2247   Interesting article and it is confirming from other Monroe1 08/02/17 09:14:07 AM
#2246   ?? Kelke41 08/01/17 06:52:57 PM
#2245   So this is an interesting article...these guys are Kelke41 08/01/17 06:49:31 PM
#2244   China,from what I understand has the final say Monroe1 08/01/17 09:43:45 AM
#2243   We know it is coming when the big Monroe1 07/31/17 01:07:49 PM
#2242   I'm about ready for this ban to be lifted!!! Kelke41 07/31/17 12:36:02 PM
#2241   Interesting article! Sales dip in June though. Monroe1 07/31/17 11:14:20 AM
#2240   The sports and welfare lotteries have grown to Kelke41 07/25/17 02:41:34 PM
#2239   getting closer..... Monroe1 07/18/17 02:15:31 PM
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