Welcome to our dedicated page for Xcelerate news (Ticker: XCRT), a resource for investors and traders seeking the latest updates and insights on Xcelerate stock.
Xcelerate Inc. reports company developments tied to medical technology, virtual health care and intellectual-property commercialization. Recent updates center on AfiyaSasa Africa LLC, the company’s majority-owned subsidiary focused on an AI-assisted patient portal and healthcare delivery model in Tanzania, including localization work, clinical-site evaluation and medical-technology research and development.
News also covers Xcelerate’s completed sale of its majority interest in the ESN Group, a transaction that moved the company away from the Ceramedx and Earth Natural Beauty skincare businesses. Other recurring themes include patent activity for surgical-tool camera technology, business funding, private-placement financing, auditor-related registration statement updates and broader shareholder communications.
On March 10, 2022, Xcelerate (OTC Pink: XCRT) CEO Michael O’Shea discussed the company's innovative use of artificial intelligence (AI) to enhance healthcare access in remote areas of Tanzania. The AI-driven software, initially designed for self-driving cars, allows patients to connect with healthcare professionals via mobile devices, improving treatment efficiency. Xcelerate aims to launch a beta site by Q2 2022 and anticipates generating revenue by year-end. Additionally, the company plans to file several patents related to its technology, aiming for an uplisting to OTCQB.
Xcelerate, Inc. (OTC Pink: XCRT) has acquired a 51% stake in AfiyaSasa Africa, LLC to improve healthcare access in Africa. CEO Michael O’Shea announced that Dr. Dilan Elegalla has moved to Tanzania to lead a pilot program, with Sriyanjit Perera as CEO of ASA. The initiative aims to utilize patented telemedicine technology to connect patients with physicians via mobile devices. With 650 million mobile users in Africa, ASA expects to launch a fully operational beta site by the end of Q2 2022 and become revenue-producing before year-end.
Xcelerate (OTC Pink: XCRT) has announced the appointment of Fran White to its Advisory Board, effective immediately. With over 40 years of experience, White founded MDC Associates, a consulting firm in regulatory affairs for the medical device and biotechnology sectors. Her expertise is expected to enhance Xcelerate's upcoming patent filings and support their business expansion in Africa through AfiyaSasa Africa, LLC. CEO Michael O’Shea highlighted her invaluable skills in recognizing market opportunities, particularly in developing regions.
Xcelerate (OTC Pink: XCRT) announced on January 25, 2022, that it filed a Supplemental Report with OTC Markets to remove its 'shell' status. CEO Michael O’Shea stated that following their recent Form 1-A filing with the SEC, the company believes it no longer qualifies as a shell under SEC rules. This change is a step toward Xcelerate's goal of uplisting to the OTCQB and ultimately to a national exchange.
Xcelerate, Inc. (OTC PINK: XCRT) provides a shareholder update highlighting significant achievements in 2021, including achieving reporting status and acquiring a controlling interest in AfiyaSasa Africa. The company plans to launch the ASA program in Africa, aiming to connect physicians with patients via mobile devices amidst a growing market of mobile users. Additionally, Xcelerate is pursuing two provisional patents related to medical power tools and robotic telesurgery. A Reg. A Tier 2 filing is underway to support these initiatives, marking a promising start to 2022.
Xcelerate, Inc. (OTC pink sheets: XCRT) announced on January 3, 2022, that it has acquired a 51% stake in AfiyaSasa Africa, LLC, a medical technology and virtual health company. This acquisition aims to enhance healthcare access in developing regions by utilizing AI and Augmented Reality to connect patients with physicians remotely. The ASA system facilitates initial check-ins and triage through mobile devices, utilizing medical devices linked to phones for effective telemedicine. This partnership with ASA, co-founded by Dr. Dilan Ellegala, is expected to improve healthcare delivery for millions in Africa.
Xcelerate, Inc. (OTC: XCRT) has signed a Definitive Memorandum of Understanding with HS Pharmaceuticals, LLC to acquire 100% of its membership interests and a 51% interest in HS Cosmetics, Inc. This agreement includes provisions for drafting an Acquisition Agreement with a pre-determined valuation and capital raising efforts to support HS Pharmaceuticals' intellectual property development and HS Cosmetics' marketing strategy initiated in April 2021. CEO Michael O'Shea noted collaboration with Network1 Financial to facilitate these financial activities.
Xcelerate, Inc. (OTC Pink Sheets: XCRT) announced the completion of its Consolidated Annual Financial Statements audit for FY 2019 and FY 2020, conducted by BF Borgers CPA PC, a PCAOB registered firm. This achievement is a significant step towards the company's objective to uplist to OTCQB or QX, eventually aiming for a national exchange. The company focuses on acquiring and commercializing medical innovations, combining them with early-stage med tech enterprises.
Xcelerate (OTC Pink Sheets: XCRT) has engaged BF Borgers CPA PC for auditing its financial statements for the fiscal years ending December 31, 2019, and 2020. This move aligns with the company's goal to enhance shareholder value, according to CEO Michael O'Shea. Additionally, the management is exploring potential acquisition candidates, aiming for future growth. While no agreements are in place yet, there is optimism about success. Xcelerate plans to raise funds for business capital and pursue uplisting to OTCQB or QX, with hopes of eventually achieving a NASDAQ listing.
Xcelerate, Inc. (OTC: XCRT) has entered into two investment banking agreements with a prominent New York-based firm to facilitate acquisition financing. This firm, established in the late 1980s, manages over $2.8 billion in retail accounts. Xcelerate will leverage this partnership to support its aggressive acquisition strategy as it identifies potential targets. The company's CEO, Michael O'Shea, expressed confidence that these agreements validate their business plan and will accelerate growth.