EXXE GROUP UNFOLDS ITS PLANS TO BECOME A FULLY REPORTING COMPANY IN 2019 https://www.otcmarkets.com/stock/AXXA/news/EXXE-GROUP-UNFOLDS-ITS-PLANS-TO-BECOME-A-FULLY-REPORTING-COMPANY-IN-2019?id=213898 NEW YORK, Dec. 20, 2018
(GLOBE NEWSWIRE) -- via OTC PR WIRE-- Exxe Group, Inc
), a diversified company focused on synergistic acquisitions in international real estate, Fintech, Ai, media and financial services issues a progress update and plans tobecome a fully reporting company in 2019. As the year comes to an end, the management and Board of Directors of Exxe Group wishes to thank its shareholders for their continued support and confidence. It has been a compelling year with many accomplishments and success and the company wants to solidify its success and investors confidence by preparing to audit its portfolio of assets.
At the present time the company is alternative reporting, as the new year unfolds, the Company intends to become a fully reporting company with full disclosures of its financial statements. The first part of the plan of Exxe Groups strategy is to complete the roll-up of a number of companies with which we are currently working as well as conclude some of the capital raises in the first quarter of 2019. Exxe Group is pleased to inform that we have entered into discussions with PCAOB Auditors as part of our goal to UPLIST
AXXA to the higher exchanges next year as we are on track to reach our goal of $100,000,000 in assets.
Addressing our progress, Exxe Group management has also applied to the OTC to remove the shell risk designation based on our companys accomplishments in securing solid assets and increasing revenues. Once we complete some of the updates, we are expecting a positive decision on removing the designation. With regard to the debt matters, the Company has approximately $250,000 of aged convertible debt on its books which it inherited from the original Canadian issuer. Since the Company went through reorganization and redomiciled to Delaware, it permitted a certain level of negotiation to protect shareholders and investors from excessive dilution. The new debt issuances are never toxic and we always look to protect a=our investors. The company remains focused on preserving its cash and keeping its share structure sound as it brings to its shareholder's long-term projects. Over the past six months, Exxe Groups assets under consolidation reached approximately $50,000,000, while the debt conversions to satisfy obligations that were created by the predecessor issuer was less than one percent in todays dollar amount of the asset value. In an effort to raise capital, EG successfully avoided dealing with toxic funding and in one of the capitals raising deals gave EG up to 250k in funding repayable back not earlier than in 3 years. To date, we have not expended all of the money committed to us and we expect to be able to repay the whole amount before the end of a three-year
term without penalties.
In closing, Exxe management anticipates continued high growth through its aggressive acquisitions policy, not only with quality real estate assets, both domestic and international, but also quality companies in Fintech, Artificial Intelligence and Robotics, Virtual Reality and Augmented Reality space. We anticipate a substantial opportunity for exponential growth as we enter these newly evolving disruptive industries. Eduard Nazmiev, the CEO of Exxe Group added: As this year comes to an end, Exxe Group has plans to bring to our investors some additional exciting news about our new targets and updates concerning ongoing development projects in Europe
About Exxe Group: Exxe Group is a diversified corporation focusing on acquisitions in the following sectors: real estate, technology, media, and financial services. Exxe Group is an acquisition-driven company. The company strategy is to acquire controlling equity interests in undervalued companies and then take an active role in improving their performance - accelerating their growth by providing both access to capital and management expertise. For additional information go to www.exxegroup.com
CONTACT: Exxe Group IR email@example.com
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