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August 03, 2015 4:31 PM ET

Software

Company Overview of XcelMobility Inc.

Company Overview

XcelMobility, Inc. provides online sports lottery services in China. The company aggregates and processes lottery purchase orders from registered user accounts through provincial sports lottery administration centers for the purchase orders of welfare and sports lottery products. XcelMobility, Inc. is based in Redwood City, California.

303 Twin Dolphins Drive

Suite 600

Redwood City, CA 94065

United States

98 Employees

Phone:

650-632-4210

Key Executives for XcelMobility Inc.

Chief Executive Officer and Director
Age: 52
Executive Chairman
Age: 56
Chief Financial Officer, Chief Operating Officer and Secretary
Age: 46
Compensation as of Fiscal Year 2014.

XcelMobility Inc. Key Developments

XcelMobility Inc. Launches Wi-Fi Lottery Network in China, Afterburner

XcelMobility Inc. announced the launch of Afterburner, company's new Wi-Fi networking platform allowing mobile users and lottery players to easily and quickly connect to the company's online lottery and advertising portal. Afterburner Wi-Fi nodes will be installed in lottery and phone card kiosks throughout China creating a true national Wi-Fi network. Cities in China are littered with small kiosks selling lottery, phone cards and other personal products. There are over 1,000,000 of these small shops located throughout China. Each of these locations provides a potential installation for the company's Afterburner Wi-Fi device. The Afterburner device will be installed at no cost to the kiosk proprietor and provides the proprietor with numerous opportunities to increase sales and profits including: Offering users local customers free Wi-Fi service at the kiosk thus increasing traffic. Providing an easy and convenient method for lottery and other personal products. The ability to sell new products and services offered over the Afterburner network. Sharing in online advertising revenues. Initial Afterburner installations are being tested now. The company will begin general rollout of the Network over the second half of the year.

XcelMobility Inc. announced delayed annual 10-K filing

On 04/01/2015, XcelMobility Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC.

XcelMobility Inc. Announces Lottery Business Expansion

XcelMobility Inc. announced it will focus the company's resources on the fast growing online lottery business in mainland China. The directors and officers of the company have developed a new strategic plan to grow the company as quickly as possible with the goal to up-list the company to a major stock exchange in 2016. Over the past 3 months the company has redeployed all corporate resources to grow and expand the online lottery business. A part of this decision the company has done the following: Redeploy all engineering and service resources to expand the company online lottery offerings. Consolidate all employees under one new lottery facility located in Shenzhen, China. Open a support and service facility in Fujian province. Hire experienced lottery professionals to help manage the fast growing online lottery group. Rebrand the company as a leading online lottery services company in China. XcelMobility's mobile lottery business is now fully online and servicing mobile lottery customers in China. The company is currently in discussions with a number of major Provinces in China to provide them with online mobile lottery services in the future. The company is also in talks with China Mobile to provide mobile payment services allowing its lottery subscribers to easily access their lottery accounts.

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Recent Private Companies Transactions

Type
Date
Target
Private Placement
November 17, 2014
--
Merger/Acquisition
September 29, 2014
Xianjiang Silvercreek Digital Technology Co., Ltd., Online Sports Lottery Business Unit
Private Placement
August 14, 2014
--
 

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