XcelPlus International now current with OTC Markets Group

Rhea-AI Summary

XcelPlus International (OTC Pink: XLPI) has successfully filed its 2020 annual report with the OTC Markets Group, removing the 'stop sign' from its OTC listing and ensuring compliance with FINRA Rule 15c2-11. This timely filing allows for limited information to display on its stock listing. The company is currently updating its quarterly financial statements and plans to enhance disclosure through an auditing process. Moreover, XcelPlus is pursuing patent applications to protect new inventions related to its Cool Plasma gasification technology, positioning itself as a significant player in the waste-to-energy sector.

Positive

• Removal of the 'stop sign' from OTC listing enhances company visibility.
• Timely filing of 2020 annual report ensures compliance with FINRA regulations.
• Plans to update quarterly financial statements to increase transparency.
• Engagement with an auditor to improve disclosure and bolster investor confidence.
• Active pursuit of patent applications to protect intellectual property.

Negative

• None.

LAS VEGAS, NV, Oct. 06, 2021 (GLOBE NEWSWIRE) -- XcelPlus International Inc. (OTC Pink: XLPI) announced today that it has filed its 2020 annual report with the OTC Markets Group bringing the company in compliance with FINRA Rule 15c2-11 and resulting in removal of the “stop sign” from the company’s OTC listing. 

“Filing our financial statements and annual report ahead of FINRA’s September 28 deadline allowed us to keep our listing on the OTC Markets,” explained David Perez, Chief Executive Officer of XcelPlus International.  “Our common stock is now listed as displaying limited information.  We are currently updating our quarterly financial statements, and once those are filed, we expect the stock listing to display current information.” 

XcelPlus International is now working with an auditor to evaluate its financial statements in order to enhance disclosure and elevate investor confidence. In addition, XcelPlus has retained patent counsel to file a fresh round of patent applications to protect its most recent inventions, along with supplemental improvements to its Cool Plasma gasification technology.

XcelPlus CEO David Perez further identified the confirmation of XcelPlus International’s filing with the OTC Markets Group as a critical hurdle that has finally been cleared, with XcelPlus now being positioned to capitalize on its rapid re-emergence as a prominent waste-to-energy company.

“We have been working diligently for several months, forming partnerships and signing letters of intent with companies all over the globe,” stated Perez. “Our patent-protection efforts will further secure our intellectual property and improve the odds of success for these many ventures. In addition, our improved transparency with investors will be made evident by the frequency and clarity of all of our future disclosures.”

For more information about XcelPlus International’s Cool Plasma technology and waste-to-energy capabilities, please visit xcelplusint.com. 

Forward-Looking Statements
Certain statements in this communication constitute “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements of future expectations and events, future strategic objectives, business prospects and anticipated results. Forward-looking statements can often be identified by words and phrases such as  “will,” “can,” “would,” “expect,” “updating,” “intent,” “improve,” “positioned to capitalize,” “improve the odds,” “will be made evident,”  “re-emergence,” and similar expressions and include, but are not limited to statements regarding or relating to the company’s continued compliance with Rule 15c2-11 or any other rule or regulation, the future state of the company’s stock listing on the OTC market, the ability of the company to complete any filings or any other actions, the ability of the company to complete an audit or to obtain an audit opinion, the ability of the company to protect its inventions and improvements or to obtain any patent protection, or to enforce any patent protection the company may have now or obtain in the future, the positioning of the company, the re-emergence of the company, the potential or future prominence of the company as a waste to energy company or otherwise, the ability of the company to convert any of its LOIs into definitive contracts or business and the odds of success of any such business.  Forward-looking statements are not guarantees of future results and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially and adversely from those expressed or implied in such statements. These statements are based on management’s current views and assumptions, speak only as of the date hereof and are subject to change. We undertake no obligation to revise or update any forward-looking statements for any reason, except as required by law.

Contact: Ian Douglass
Chief Communications Officer
info@xcelplusint.com
darkstreamllc@gmail.com
346-348-4034

FAQ

What recent action did XcelPlus International take regarding its stock listing?

XcelPlus International filed its 2020 annual report, removing the 'stop sign' from its OTC listing.

How does XcelPlus International plan to improve investor transparency?

The company is updating quarterly financial statements and working with an auditor to enhance disclosure.

What technology is XcelPlus International focused on protecting with new patents?

The company is filing patents to protect its Cool Plasma gasification technology and related inventions.

What is the importance of XcelPlus International's compliance with FINRA Rule 15c2-11?

Compliance with FINRA Rule 15c2-11 is crucial for maintaining its OTC listing and improving market confidence.