Exxe Group Reports Record Revenues for Quarter Ending September 30, 2020

News provided by

Exxe Group, Inc.

Nov 23, 2020, 13:30 ET

NEW YORK, Nov. 23, 2020 /PRNewswire/ --

  • 2Q2021 revenues surpass record $7.7M set in 1Q2021
  • $8.2M 2Q2021 revenues increase 211% from $2.6M in 2Q2020
  • $15.8M revenue in 1H2021 increases 216% over 1H2020
  • AXXA reaffirms FY-2021 $30.8M revenue target

Exxe Group, Inc. (OTC PINK: AXXA), a fintech company focused on synergistic diversified acquisitions, reports financial results for its second fiscal quarter ending September 30, 2020. 

Quarterly Highlights

  • Regrouping and recombination of 1031 exchange real estate, currency exchange, AI and blockchain software platforms
  • Formation of AXXAInvest real estate services platform and fintech modules

Key Metrics

2Q2021 ($)

2Q2020 ($)

Percentage Change

Total Current Assets

16,128,818

3,229,357

399%

Total Assets

206,022,467

152,958,973

35%

Shareholder Equity

125,847,453

99,750,462

26%

Revenue

8,154,139

2,619,576

211%

Net Income / Loss

1,249,894

(831,911)

Performance Snapshot

AXXA generated $8.2M gross revenues in 2Q2021 surpassing the $7.7M record set in 1Q2021; a 5% sequential Quarter-over-Quarter growth. Compared to the same period last year 2Q revenue increased 211% from $2,619,576, while net income was $1,249,894 against a $(831,911) loss.

Total assets were $206,022,467 in 2Q2021 as compared to $152,958,973 in the same period last year.

AXXA's $15.8M revenues in 1H2021 grew 216% compared to $3,826,192 in the same period last year.

Notable results came from AXXA's agribusiness segment as commodity prices rose during the Quarter. Agribusiness was Exxe's single largest revenue contributor followed by Real Estate.

Eduard Nazmiev, Ph.D., CEO and President of Exxe Group commented: "I am pleased to report $15.9M revenues in 1H2021 compared to $15.3M booked in AXXA's entire FY-2020. AXXA reaffirms its $30.8 million FY-2021 revenue target."

Looking Ahead

AXXA's UK-based 1Myle currency exchange services operation goes live this month. 1Myle is targeting revenues of $15 million in the first twelve months of operation from bitcoin exchange trading activities.

About Exxe Group, Inc.

Exxe Group is a diversified corporation focusing on acquisitions in the following sectors: real estate, sustainable and digital technology, media, agribusiness, and financial services. Exxe Group is an acquisition-driven company. The Company strategy is to acquire controlling equity interests in undervalued companies and undertake an active role in improving their performance - accelerating their growth by providing both access to capital and management expertise. For additional information go to www.exxegroup.com

CONTACT: Exxe Group IR: [email protected], 855-285-2285

Forward-Looking Statements

This press release contains 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. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainties and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release.

SOURCE Exxe Group, Inc.