Xcelerate, Inc. Announces That It Has Filed Its 2023 Annual Report
Xcelerate, Inc. announced the filing of its 2023 Annual Report, reporting audited financial results for the year. The company achieved its first revenue year in history, marking significant milestones and progress towards growth. Revenues from the majority interest in ESN Group are set to increase in 2024 due to new contracts.
Achieved the first revenue year in Xcelerate, Inc. history
Milestones and progress towards growth in 2023
Increase in revenues expected in 2024 from new contracts
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MAULDIN, SC / ACCESSWIRE / April 30, 2024 / Xcelerate, Inc. (OTCQB:XCRT) today reported its audited financial results for the year ended December 31, 2023. The Company's Annual Report on Form 1-K has been filed with the U.S. Securities and Exchange Commission ("SEC") and may be viewed on the Electronic Document Gathering and Retrieval System ("EDGAR") at www.sec.gov/edgar , and on the Company's website at www.xcelerate.global .
Mike O'Shea, Xcelerate's CEO said "We entered 2023 poised for what we anticipated would be the first revenue year in Xcelerate, Inc. history and today I am happy to announce that we have achieved that goal. 2023 marked Xcelerate's achievement of key milestones and progress toward its next phase of growth. These revenues represent those generated by our majority interest in ESN Group and are representative only from July 2023, when we acquired that interest. We are expecting to increase revenues significantly in 2024 as a result of the recently announced addition of ESN's contract with "AFFES" (Army & Air Force Exchange Service) and commencement of our operations with the two hospital contracts that Afiya Sasa holds in Tanzania."
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.
Since establishing new management and adopting a new business plan in May 2020, we have developed three separate but related businesses within the medical, health and wellness sectors, including (i) formulation, packaging and marketing of consumer health and beauty, clinically tested skin care products; (ii) development of AI and virtual health technology to assist patients in developing countries, initially in Africa, to provide for their population to obtain medical care by extending the reach of physicians through the use of that technology; and (iii) owning and licensing the rights to various forms of medical equipment and portfolio of patents, patents pending and technology licenses. We believe we have made significant advances in the businesses included in (i) and (ii) and while no assurances can be provided, believe we are on the cusp of significant growth. 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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