Welcome to our dedicated page for Exxe Group news (Ticker: AXXA), a resource for investors and traders seeking the latest updates and insights on Exxe Group stock.
Exxe Group Inc. (OTC: AXXA) is a multidisciplinary technology and asset monetization platform whose news flow centers on financial performance, strategic transformation, and technology-driven projects. Company updates highlight its evolution into a technology-enabled management and consulting platform with a hybrid SaaS-based and service-focused business model.
News releases frequently cover quarterly and annual financial results, including revenue trends, gross and net profit performance, and progress in reducing long-term debt and total liabilities. Exxe also reports on portfolio rebalancing, disposal of non-core assets, and efforts to streamline operations around higher-growth, service-based activities.
Another recurring theme in Exxe Group news is its real estate monetization pipeline. The company announces the onboarding of income-generating properties into its tech-based asset optimization platform, describing projects in locations such as Frankfurt in Germany and Thun and Aargau in Switzerland. These updates typically outline planned cash-out strategies, rental optimization, asset value enhancement, and revenue-sharing structures with clients and stakeholders.
Exxe’s communications also highlight developments in blockchain and tokenization, including the acquisition of Chain Adoption, Inc. and the rollout of its Blockchain Solutions Suite for Real-World Asset (RWA) tokenization and related Web3 applications. Strategic updates may address SaaS expansion, AI-based systems, fintech services, and audit preparation efforts at the corporate level.
Investors and observers following AXXA news can use this page to review Exxe Group’s reported financial milestones, platform deals, blockchain initiatives, and shareholder communications over time.
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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.