LAS VEGAS, March 18, 2016 /PRNewswire/ -- XLI Technologies, Inc. (OTC PINK: XLIT) (the "Company" or "XLI") is pleased to announce that it has completed the total and complete cancellation of 65,000,000 shares of the Company's Common Stock beneficially owned by Company CEO James Schramm.
James Schramm, CEO of XLI Technologies, Inc., stated, "Completion of the final stage of our share restructuring plan has dramatically and permanently reduced the number of XLI common shares outstanding which reduces the manipulation and violent upside/downside swings in the share price action seen in recent days and weeks by speculative market participants. This also puts the Company in a stronger position to take advantage of potential new business opportunities. Just another reminder of management's long-term commitment to the success of this company and maximizing value for all shareholders. We should be seeing significant sales and revenue within the second and third quarter due to proper positioning and preparation for a strong and stable growth and expansion. I believe that this is the way to build a stable and respectable successful company that will be around from generation to generation."
Information regarding the planned transactions described above will be released by the Company as it becomes available, which is anticipated to be sometime in the next two weeks.
About XLI Technologies, Inc.
XLI Technologies, Inc., through its wholly owned subsidiary, Bosch International, LLC, provides unique, versatile, durable, and eco-friendly nanotechnology printed lighting products (Printed LightSheet) to the entertainment sector, including movie theaters, movie studios, production and distribution companies, talent and management agencies, marketing and PR firms, outdoor media and limited automotive in the USA and Canada. The Company is also exploring several other potential applications of the technology as well as expansion of territory rights.
Notice Regarding Forward-Looking Statements
This press release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with intellectual property protection, marketing and sale, manufacturing and distribution and difficulties associated with obtaining financing on acceptable terms. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
SOURCE XLI Technologies, Inc.