Xcelerate, Inc. Addresses Concerns About Recently Released Research Report
Xcelerate announced that it identified errors in an independent research report by Harbinger Research. CEO Mike O'Shea stated that the report contained inaccuracies about future revenues and potential profitability. The company has contacted Harbinger Research to correct the misleading information, and a retraction is expected soon. Investors and stakeholders are advised to stay informed through Xcelerate's website.
- Xcelerate proactively identified errors in an independent research report.
- The company has taken steps to correct misleading financial information.
- CEO Mike O'Shea directly addressed concerns to maintain transparency.
- The erroneous report contained inaccuracies about future revenues and potential profitability.
- The need for a retraction indicates possible temporary damage to investor confidence.
- Public acknowledgment of errors could affect short-term stock performance.
MAULDIN, SC / ACCESSWIRE / June 4, 2024 / Xcelerate, Inc. (OTCQB:XCRT) today announced that it has become aware of an independent research report released by Harbinger Research earlier in the day that contains erroneous information about the Company and has reached out to the author of the report to advise of the same.
Mike O'Shea, Xcelerate's CEO said "While we were aware that this independent report was being prepared, we had no prior knowledge of the contents of the report. Upon our review after release today we identified specific areas of the report relating to future revenues and potential profitability that were inconsistent. We have brought our concerns to the attention of Harbinger Research. As a result, we are expecting a retraction of this information to be immediately issued.
Investors and stakeholders are encouraged to stay updated on the latest developments by visiting the Company's website at https:/xcelerate.global/.
ABOUT XCELERATE INC.
In May 2020, Xcelerate commenced implementation of a new business plan that integrates innovative non-medical technologies into medical applications that enhance patient care and drive recurring revenues, including (i) owning and licensing the rights to various forms of medical equipment and portfolio of patents, patents pending and technology licenses and (ii) development of virtual health technology to assist patients in developing countries obtain medical care by extending the reach of physicians through the use of that technology. For more information visit www.xcelerate.global or contact us at 854-900-2020 or email info@xcelerate.global.
SAFE HARBOR
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and actual results may differ materially from those projected in forward-looking statements resulting from various factors.
SOURCE: Xcelerate, Inc.
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