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March 30, 2015 1:11 PM ET

Software

Company Overview of XcelMobility Inc.

Company Overview

XcelMobility, Inc. develops mobile applications for mobile devices that utilize cellular networks to connect to the Internet and hardware/software products to increase the speed of virtual private networks. The company sells a wearable computing device, CCWatch, which is a smartwatch. It markets its security systems and wearable computing devices to the private and public security forces market in China. The company’s customers include government agencies and private companies in the security field. 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: 51
Total Annual Compensation: $7.8K
Executive Chairman
Age: 55
Chief Financial Officer, Chief Operating Officer, Principal Accounting Officer and Secretary
Age: 45
Total Annual Compensation: $17.4K
Compensation as of Fiscal Year 2013.

XcelMobility Inc. Key Developments

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.

XcelMobility, Inc. Receives Lottery License in China

XcelMobility Inc. announced that it received a Sport Lottery License from the Fujian Administration of Sport and Gaming to provide sports lottery services using a mobile device. The new license will allow XCLL to quickly grow its lottery brand and revenues in the fast growing mobile lottery market in China.

XcelMobility, Inc. Files Certificate of Amendment to Articles of Incorporation

On June 11, 2014, XcelMobility Inc. filed a Certificate of Amendment to the company's Articles of Incorporation to increase the total number of authorized shares of common stock from 100,000,000 to 400,000,000 (the Certificate of Amendment). The board of directors of the company and shareholders took action by written consent for the purpose of approving the Certificate of Amendment.

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Recent Private Companies Transactions

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