Business
EXXE GROUP UNFOLDS ITS PLANS TO BECOME A FULLY REPORTING COMPANY IN 2019
EXXE GROUP UNFOLDS ITS PLANS TO BECOME A FULLY REPORTING COMPANY IN 2019.
About this update from Exxe Group Inc.
[{"type":"text","content":"NEW YORK, Dec. 20, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE-- Exxe Group, Inc (OTC: AXXA), a diversified company focused on synergistic acquisitions in international real estate, Fintech, Ai, media and financial services issues a progress update and plans to become 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 Group’s 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 company’s 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 Group’s assets under consolidation reached approximately $50,000,000, while the debt conversions to satisfy ...