Exxe Group Stock Price, News & Analysis

Exxe Group has finalized an acquisition agreement for Serenity Lakeside Resort in Phuket, Thailand, marking its entry into the Southeast Asian hospitality sector. The deal involves acquiring a 50% stake initially, with plans to obtain majority control in early 2024. This transaction is part of a broader $87.4 million acquisition portfolio. The resort features diverse accommodations including bungalows and suites, set in a prime location near the world-famous Patong Beach. Exxe aims to enhance guest experiences by introducing alternative payment methods like cryptocurrencies and unique on-site events, leveraging its existing business units for potential furniture sales. The CEO highlighted the quality of the resort experience, emphasizing plans to stamp Exxe's presence in the region's hospitality industry.

Exxe Group, Inc. (OTC PINK:AXXA) has signed a definitive Letter of Intent (LOI) with a UK technology firm to implement a fully-automated algorithmic trading system, scheduled for closure in April 2023. The partner has previously developed three fully-automated trading systems and the current system has successfully completed over 10,000 trades in recent quarters. It is expected to generate an initial annual trading volume of $50 million and be profitable from inception. Shareholders will receive net profits via standard voting protocols.

Exxe Group (OTC PINK:AXXA) announced significant updates regarding its financial structure. As of March 31, 2022, long-term debt has decreased from $56.5 million to $49.4 million, a drop of approximately $7.2 million. The company plans to eliminate an additional $4.5 million in long-term debt, reducing total liabilities to about $63.8 million. Exxe aims for a quarterly revenue target of $15 million in 2023, having reported approximately $38.2 million in the first three quarters of FY-2023. Average quarterly profits are around $3.76 million, maintaining total assets over $250 million.

Exxe Group has officially filed to redomesticate from Delaware to Wyoming, a process expected to complete in approximately 4-6 months. This strategic move, approved by the Board and majority shareholders, offers significant corporate advantages such as unrestricted stock buyback capabilities. The company has initiated multiple steps in the redomestication process, including the dissolution of its Delaware corporation and filing necessary documents in Wyoming. CEO Dr. Eduard Nazmiev believes this transition will support upcoming corporate initiatives, including a potential uplisting and spin-off activities.

Exxe Group, Inc. (OTC PINK:AXXA) reported its 3Q2023 and nine-month FY2023 financial results, showcasing significant growth. Revenues reached $13,464,338 for the quarter and $38,154,606 for the nine months, up 12.5% year-over-year. Net profits were $4,287,255 for the quarter and $11,790,323 for the nine months, marking increases of 26.5% and 55%, respectively. The company successfully reduced long-term debt by $7.2 million and total debt by $11.9 million. Cash on hand improved significantly, reflecting effective capital management strategies.

Exxe Group has successfully acquired $1.5 million worth of graded and authenticated memorabilia assets across various fields including sports, music, film, TV, pop culture, and politics. This collection, valued by industry leaders, includes autographed items from notable athletes and celebrities. The acquisition will be supported by Exxe's trading technologies and new brand strategy under its Technology vertical. The deal is financed through cash and Preferred B stock. Exxe Group aims to leverage its in-house technologies to boost sales, with expectations of generating over $50 million in annual revenues.

Exxe Group is launching a spin-off program for up to four of its divisions, including furniture/design, medical, automotive, and real estate. This initiative aims to enhance value for shareholders by restructuring and auditing core assets individually. Key timelines will be announced in December 2022, with a target completion of the spin-off process within 6-12 months. The first spin-off will be under the name of daskonzept group.

Exxe Group announced impressive fiscal results for the second quarter and first half of 2023. Quarterly revenue reached $12,956,036, up 17.5% from last year, while comprehensive income skyrocketed 108.8% to $3,825,044. The company's gross profit margin hit a new high of 82%, and operating margin increased to 31.7%. Exxe is also planning asset spin-offs and is negotiating new acquisitions to bolster its portfolio. Notably, current liabilities dropped by $4.4 million, highlighting improved financial health.

Exxe Group, Inc. (OTC PINK:AXXA) announced record quarterly revenue of $4,886,700 for the period ending September 30, 2022, marking a 77.4% increase year-over-year. The first half of fiscal 2023 saw revenue and EBIT rise by 111.8% and 45%, respectively. The success was driven by M Moto's B2B eCommerce platform, which nearly doubled sales. Future growth is expected from new markets and products worth an estimated $700 million. This achievement marks the sixth consecutive quarter of record revenue for M Moto.