There’s no doubt that EXXE GROUP ORD (OTCMKTS:AXXA) represents one of the most volatile names on the OTC over the past month and half. The stock has been on a wild roller coaster ride that has made traders money on both sides of the tape. In recent days, the action has turned back to the upside, helped in part by the company’s most recent announcement to appoint Vincent Anelle to the Board of Directors. According to the release, this is a new position on the Board, which now numbers 5 members and is effective immediately.
“Mr. Anelle brings invaluable industry perspective to the Exxe Group Board as it evaluates potential investments in the media space, one of our targeted areas for future acquisitions”, said David Callaghan, CTO and Acting CEO of Exxe Group. “In addition, Mr. Anelles experience as a serial entrepreneur will be additive to Board discussions and offer potential mentorship opportunities for new managers who join Exxe Group through future acquired young businesses. The Board welcomes Mr. Anelle and looks forward to a long and productive working relationship.”
EXXE GROUP ORD (OTCMKTS:AXXA) is a diversified corporation focusing on real estate, hard assets, new technologies and software development, digital/blockchain management consultancy, sales, marketing. and financial services. The company’s strategy is to acquire controlling equity interests in undervalued companies and take an active role in its new subsidiaries to improve their growth, by providing its subsidiaries with access to capital and company’s management expertise.
Since 2016, Telecorp has shifted its business focus and strategy to pursue acquisitions in Hard Assets, Financial Services, Technology, Product/Distribution and Management Consultancy. As a part of this business transition, The Company began screening a number of potential acquisitions that would broaden services, products and talent into the Company.
Companies that will be considered for acquisition are required to have one of 3 main qualities: they must be progressive and established in the global marketplace, they are built upon innovative ideas and backed with real asset value, or they must be able to scale both quickly and profitably.
Telecorp’s planned investments are in the categories of hard assets including commercial real estate, hard asset trading and gold and silver exchanges, production and distribution with advertising, ad-tec optimization, fashion production and product, fashion analytics and sales, artist and event management, technology focused in financial technology, trade predictive software, artificial intelligence, blockchain technology and bio-technology, financial services centered in credit unions, asset management, and private and public investment interfaces, among others.
According to company materials, “Exxe Group is a diversified corporation focusing on acquisitions in the following sectors: real estate, technology with an emphasis on blockchain, business services, media, and financial services. We are an acquisition-driven company. Our strategy is to acquire controlling equity interests in undervalued companies and then take an active role in improving their performance – accelerating their growth by providing them with both access to capital and to management expertise.”
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Traders will note 50% piled on for shareholders of the listing during the trailing month. In addition, the stock has seen a growing influx of trading interest, with the stock’s recent average trading volume running approaching 420% beyond its prior sustained average level.
Note that this is a relatively small bounce given the massive volatility seen in the stock over the past six weeks. That said, recent support has been sturdy, and the move to beef up governance with a fresh face on the board is often an underrated catalyst that can prove powerful over time given the impact it can have on the perception of credibility in the market.
Earning a current market cap value of $5.25M, AXXA has virtually no cash on the books, which compares with about $1.07M in total current liabilities. The company is pre-revenue at this point. This may be a very interesting story and we will look forward to updating it again soon. Sign-up for continuing coverage on shares of $AXXA stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $AXXA, either long or short, and we have not been compensated for this article.