NEWPORT BEACH, CA, March 10, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- XSport Global, Inc. (OTC: XSPT):
Dear XSPT Shareholders:
We are aware of the recent concerns with the late filings and low stock price of the company. We are working with new counsel to help with the restructuring of the company which could possibly affect the current stock price. We are having difficulty attracting new capital as a result of the capital structure and various notes holders’ activity. Unfortunately, many of these legacy issues were inherited from the past several management teams and the company’s overall inability to launch the HeadTrainer app.
At this time, we have put the development and BETA launch of the XSport Connect platform on hold, pending further investment. We will turn our limited resources back onto HeadTrainer and FitLinkDNA brands. The company cannot move forward with any new athletes and sports celebrities to become brand ambassadors without the capital resources necessary to meet the minimum financial contract requirements.
We continue to be optimistic, however without the help from the existing note holders the company will continue to struggle. Finally, we have lost a few of our key team members as a result of our lack of funding in addition we have scaled back on the Innovation Center.
Going forward:
We will continue to share pertinent information as quickly as possible. We welcome your emails to investor@xsportglobal.com or info@xsportglobal.com.
Thank you for your ongoing support.
Ray Mariorenzi
CEO, and President XSport Global Inc.
