Charlotte, North Carolina, Nov. 28, 2022 (GLOBE NEWSWIRE) -- XCPCNL Business Services Corporation (OTC Pink: XCPL), a venture development business that leverages knowledge, skill, and experience in the consumer products industry, is pleased to issue a letter from CEO Tim Matthews.
Dear Shareholders,
I’d like to take this opportunity to address several issues and misinformation that have been circulating in the past few days.
- The 75% loss in shareholder value – There are rumors circulating on Twitter and other social media platforms that this occurred due to Dilution and Toxic Investors dumping discounted shares. This is incorrect. The Outstanding shares have not changed. Also, all Reg A shares were purchased and traded in the open market during the dates of (10/4-10/24). There were over one billion shares traded. I am not sure what sparked a mass exodus of shareholders, but I can assure that the volatility was not caused by any Reg A investors.
- Authorized share increase – The original XCPL share structure was 1 Billion shares. We’ve had two share reductions, one at 750 million and then another to 500 million. This was done based on the assumption that we could drive and sustain revenue with a lower than usual share structure, along with being able to raise capital through traditional means to support the Merger, commercialize those products and support new client contracts. This did not occur how we had planned, and in an effort to be fully transparent, we mentioned this on the last shareholder call.
- During the last Reg A period, we were able to raise capital and sustain shareholder value, and actually increase shareholder value by 5x. This was done through strategic partnerships with investors who understand not to cause any detrimental effects to our company and shareholder base. This previous Reg A did not harm our company contrary to what is circulating on Blogs and Social Media Channels. In terms of the upcoming Reg A, we are offering the opportunity for current shareholders to invest. Once qualified, our partners will reach out the shareholders on how they can participate.
- CEO Share Return – Generally speaking, CEOs are compensated based on performance and KPI’s. They tend to take these fat bonuses and stock options whether they do a great job or not. My point was, I did not hit the KPI’s and I will forgo my stock to the Treasury until those KPI’s are hit. I thought of it more as a money back guarantee rather than the negative perception being out there.
- Centiment Capital Merger is delayed, due to some issues on Centiment Capital’s side. I am not one throw other partners under the bus and will take the responsibility for this delay. We will work through the challenges, but as mentioned we are currently commercializing a suite of Centiment products for a client in the mortgage industry.
As mentioned, this is a marathon, not a sprint, to increase revenue and profitability, certain steps must be taken and have been. While I certainly hear your displeasure and frustration, I urge you to continue to monitor our progress and treat this as a long-term investment, versus a quick buck. For those of you who have stood by my decisions via email, I thank you. For those of you who prefer a more negative reaction, I hope that one day you will see every decision made is to align with the long-term vision and growth of XCPCNL.
Thank you,
Tim Matthews
CEO
XCPCNL Business Services Corporation (OTC Pink: XCPL) encourages shareholders to visit their corporate Twitter account at https://twitter.com/RealXCPCNL.
Forward-Looking Statements Disclaimer:
This press release may include, and oral statements made from time to time by representatives of the Company may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements regarding possible business combinations and the financing thereof, and related matters, as well as all other statements other than statements of historical fact included in this press release, are forward-looking statements. When used in this press release, words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filing with the Over the Counter Market (“OTC”). All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
About XCPCNL:
Charlotte, NC-based XCPCNL Business Services is a venture development business that leverages its knowledge, skills, and experience in the consumer products industry. Our primary mission is to provide marketing, technology, and other business services to fast-growing consumer product companies and big-box retailers. XCPCNL is a minority-owned and controlled firm.
To learn more about our businesses, services, and opportunities, please contact info@xcpcnl.com.
To learn more about XPCNL, visit www.xcpcnl.com.
For Inquiries:
Email: ir@xcpcnl.com
