Welcome to our dedicated page for Xcelerate news (Ticker: XCRT), a resource for investors and traders seeking the latest updates and insights on Xcelerate stock.
Xcelerate, Inc. (XCRT) publishes frequent updates on its progress in medical technology, AI-assisted virtual health and consumer health and beauty products. The news flow provides insight into how the company is executing its business plan, adjusting its portfolio of assets and advancing its intellectual property.
Recent press releases describe Xcelerate’s decision to sell its majority interest in the ESN Group of companies in an all-cash transaction to Noble Labs Holdings, LLC, with the stated goal of refocusing on its original mission of implementing AI-aided medical technology and virtual health care in Africa through its majority-owned subsidiary, AfiyaSasa Africa, LLC. Other announcements highlight renewed emphasis on the AfiyaSasa project, including plans to launch an AI-assisted patient portal in Tanzania and to acquire a clinical care setting in which the technology can be trialed, tested and applied.
News items also cover developments in Xcelerate’s medical device patents, such as the commencement of the nationalization process for PCT international patent applications related to a Surgical Tool with Targeting Guidance that introduces a "first-person view" to the surgical theatre. Additional releases discuss corporate matters, including changes of auditors, re-audits of financial statements, filings of annual and semi-annual reports, amendments to registration statements, and the engagement of an investment bank to assist with capital raising and potential up-listing to a national exchange.
Investors and observers can use the XCRT news feed on this page to follow company statements on AI-driven healthcare initiatives, patent filings, divestitures, funding arrangements and shareholder communications, all in one place.
Xcelerate (OTCQB:XCRT) has concluded due diligence and entered into a binding agreement to acquire a controlling interest in ESN Group, Inc. The total transaction value is approximately $350,000 in cash, alongside the issuance of restricted stock, assumption of debt, and employment agreements for essential personnel. The acquisition is anticipated to close by June 30, 2023. This strategic purchase is positioned to provide Xcelerate with an immediate revenue stream and strengthen its portfolio in healthcare and skincare products. CEO Mike O'Shea indicated plans to expand product offerings into mass merchant outlets and government agencies, leveraging ESN's management expertise and industry connections.
Xcelerate, Inc. (OTCQB:XCRT) has signed an agreement with Afya Sasa Africa to implement AI-based healthcare services at Muhimbili National Hospital in Tanzania, the largest hospital in East Africa. This initiative aims to enhance healthcare delivery for Tanzania's 64 million people through advanced technology. The agreement includes multiple revenue streams such as member fees and consultation fees, with anticipated revenue starting in Q4 2023. The project phases include IT assessments and launching a cardiac module, with plans for nationwide expansion pending successful implementation.
Xcelerate, Inc. (OTCQB:XCRT) has announced the appointment of Fabian Urquijo to its Xcelerate Brands Advisory Board. Urquijo, an experienced marketing professional, brings 21 years of expertise from Procter & Gamble and Revlon, where he held senior marketing roles. His background includes managing various product categories, helping shape brand strategy, and driving innovation. CEO Michael O'Shea noted that Urquijo's experience is expected to support the development of a new portfolio of clean skin and personal care products. Furthermore, Urquijo will play a key role as Xcelerate moves forward with due diligence for acquiring a controlling interest in The ESN Group.
Xcelerate, Inc. (OTCQB:XCRT) has executed a letter of intent to acquire a controlling interest in ESN Group, Inc., which specializes in health care and skin care products. This acquisition is currently in a 60-day due diligence phase, aiming to finalize transaction agreements. ESN operates two revenue-generating brands: Ceramedx, known for its facial cleansers utilizing exclusive natural ceramide technology, and Earth Science Beauty, offering plant-based personal care solutions. If successful, the deal is projected to contribute millions in first-year revenue to Xcelerate. The company is also forming a division to expand its healthcare product lines.
Xcelerate, Inc. (OTCQB:XCRT) CEO Mike O'Shea provided a shareholder update on January 3, 2023, reflecting on a busy 2022. Key achievements include:
- Qualified a Regulation A offering with the SEC.
- Acquired AfiyaSasa Africa LLC and a patent portfolio from HS Pharmaceuticals.
- Patented a surgical tool enhancing precision.
- Uplisted to OTCQB and removed 'shell company' status.
In 2023, Xcelerate aims to generate revenue through a new subsidiary, Xcelerate Brands, and launch the AfiyaSasa program in Q2.
Xcelerate, Inc. (OTCQB:XCRT) announced its initiative to develop over-the-counter healthcare products utilizing its patent portfolio acquired from HS Pharmaceutical. Following productive meetings with HS Pharmaceuticals’ staff, the company aims to identify marketing and manufacturing partners to bring these products to market. The acquisition represents significant investment and research. CEO Michael O'Shea highlighted the potential for generating revenue in the near term through this initiative.
Xcelerate (OTCQB:XCRT) announced the granting of patent protection in nine additional countries, enhancing its intellectual property portfolio. This includes a Korean patent for a nanosilica composition aimed at stimulating T lymphocytes to treat conditions like cancer and inflammatory diseases. Further, a Eurasian patent has been approved covering several countries, including Russia and Kazakhstan. Xcelerate's CEO, Michael O'Shea, emphasized ongoing collaborative efforts with U.S. research institutions to advance its R&D initiatives.
Xcelerate, Inc. (OTCQB:XCRT) has received approval from the OTC Market Group to uplist to the OTCQB Venture Market. Trading will commence on August 1, 2022. CEO Michael O'Shea emphasized that this move aims to enhance transparency and liquidity for shareholders, while expanding the company’s reach to potential investors. The OTCQB is recognized by the SEC and serves as a public market for early-stage companies, requiring compliance with stringent disclosure and financial standards. Xcelerate operates in the medical industry, focusing on medical equipment rights and virtual health technology development.
Xcelerate, Inc. (OTC PINK:XCRT) has announced its application to upgrade its common stock trading from the OTC Pink Market to the OTCQB Venture Market. This move is aimed at enhancing visibility and liquidity for investors as it prepares to develop a pilot program in Africa via its subsidiary, AfiyaSasa Africa, LLC, and advance its portfolio of medical technology patents acquired from HS Pharmaceuticals. The approval for this listing remains pending with the OTCQB.
Xcelerate (OTC PINK:XCRT) announced the appointment of Cathy Scangarella to its Advisory Board, effective immediately. Scangarella, the Chief Business Development Officer at Choose New Jersey, brings over 25 years of experience in marketing and outreach, enhancing business development strategies nationally and internationally. Her expertise includes establishing collaborations with research universities and industry partnerships. Xcelerate's CEO, Michael O'Shea, emphasized her valuable skill set to advance the company's patent development following a recent acquisition from HS Pharmaceuticals.