Business
Xalles Holdings Updates and 2020 Strategy
Xalles Holdings Updates and 2020 Strategy.
About this update from Xalles Holdings Inc.
[{"type":"text","content":"WASHINGTON, DC, February 18, 2020 -- Xalles Holdings Inc. (OTC: XALL), a fintech holding company leveraging blockchain technology for financial reconciliation and payment auditing solutions, today announces a series of corporate updates and additional information about its 2020 strategy.Xalles is forging ahead in 2020 with a strategy that encompasses geographic expansion, accretive acquisitions, and establishing platform companies. Xalles searches for opportunities with financial toll gates that can be established to form recurring revenue streams. All of the targeted acquisition companies have this potential.Geographic ExpansionThe Ghana Cyber City project under the recently acquired Gateway Innovations, has the potential to become a $200 million asset project. In 2020, Xalles Holdings expects to yield between $1-2 million in revenue from this wholly owned subsidiary. Xalles expects to continue the African technology and fintech expansion on the continent.Xalles’ European and Asian expansion will be led by the acquisition of Kaden International. Xalles is currently performing the due diligence related to the Share Purchase Agreement to acquire all of the ordinary common shares and all of the value of investments that Kaden International makes. As part of the agreement, Kaden International will acquire a stake in First Bullion Holdings Inc.Xalles is also expanding into Latin America through acquisition and is currently in negotiations with the first South American acquisition target.Accretive AcquisitionsFirst Bullion, which is part of the Kaden International acquisition, is building a next generation bank that already has established licenses and operations in banking, international remittance, finance leasing, deposit taking and virtual currency exchange. Their core operations are in Hong Kong, China and the Philippines. First Bullion aims to provide much faster and efficient cross border settlements and financing for business and personal banking customers. They enable seamless conversion of local currency to foreign currency and vice versa. That firm is already profitable and expanding through their own planned acquisitions.In addition to First Bullion, there are a few accretive acquisitions that are in the negotiation process currently in the US. Xalles anticipates additional announcements about signed agreements duri...