Xalles Holdings Inc. (OTC: XALL), a fintech holding company providing technology and financial services solutions, today announced its first quarter results and outlook for the remainder of fiscal 2020. According to the update, Xalles deemed the first quarter a success given its accomplishments, but more importantly, sets up the company for faster growth through the remainder of 2020. “The progress made during the first few months of this year, puts us on a sound financial footing to achieve profitability, and reach our 2020 financial goal of $4 million in revenue,” Xalles Holdings CEO Thomas Nash said in the news release. “We will achieve these results while ensuring the health and safety of all employees, contractors, and consultants, during this time of unprecedented business conditions. MinervaWorks is one of our largest acquisitions to date, and we will continue to demonstrate to shareholders our ability to find, vet, negotiate, and acquire other business assets that complement our technology and financial services centric business focus. We see great opportunity in this business climate and are fortunate to have a pipeline of existing acquisition candidates. As we successfully absorb acquisitions our ability to finance future growth should become easier. We are working through the process for our Reg A Tier I form 1-A to become qualified, but plan on using the capital markets sparingly as we balance between sales growth and potential dilution. The company is optimistic that it will be able to secure more traditional means of financing its growth and is committed to maximizing shareholder value and minimizing any potential dilution.”
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About Xalles Holdings Inc. (OTC: XALL)
Xalles Holdings Inc. is a holding company that focuses on acquisition and support of disruptive fintech companies. The company actively seeks targets in which it can partner with or acquire to accelerate growth, targeting companies with solid management teams and business models, large total attainable markets (“TAM”), and lucrative exit opportunities. The company places emphasis on leveraging blockchain technologies to provide industry-leading financial reconciliation and auditing solutions, which, over time, will allow for the capture of recurring revenue streams. For more information visit: http://Xalles.com.
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