REDWOOD CITY, Calif., Sept. 22, 2011 /PRNewswire/ -- XcelMobility Inc. (OTCBB: XCLL), ("Company" or "Xcel") is pleased to announce that it has completed a reverse take-over (RTO) of CC Mobility Limited ("CC Mobility").
On August 30, 2011, XcelMobility Inc. closed a voluntary share exchange transaction with CC Mobility Limited and the shareholders of CC Mobility pursuant to a Share Exchange Agreement dated July 5, 2011 by and among Xcel, CC Mobility, the Selling Shareholders and Shenzhen CC Power Corporation ("CC Power").
XcelMobility Inc. (formerly CC Power) is primarily engaged in the research, development and commercialization of applications for mobile devices that access the Internet utilizing mobile phone networks. XcelMobility's flagship product is the Mach 5 accelerator that enables subscribers to access and utilize the Internet significantly faster than without the product. XcelMobility also produces other products for mobile phones that leverage off the performance of the Mach 5 product as well as products that increase the speed of Virtual Private Networks.
"This is a very positive move forward for XcelMobility as we strive to make an immediate impact in the telecommunications field. The XcelMobility management has set a mandate to be a leader and innovator and bring products that will make an immediate impact to our users. Our marquee product is the Mach 5 browser, which provides users the fastest browsing experience available for your phone, tablet or mobile computer. The Mach 5 browser has been tested by 6 of the world's largest cellular carriers; China Telecom, China Unicom, China Mobile, NTT Docomo, Softbank and KDDI, and they have all independently verified that Mach 5 provides 5 to 10 times faster access to the Internet than standard web browsers," stated Ron Strauss, Chairman. "This lighting fast speed is capable due to the advanced compression technology and banks of servers XcelMobility has located in the markets it serves. This huge investment in software and strategically located networks provides the fastest access to the web for any device using a cellular carrier to connect to the Internet. Mach 5 enables users to load applications, videos and web pages faster than ever. Its speed also enables users to utilize other sophisticated XcelMobility applications as well as complex applications from other software companies that traditionally bog down and kill ordinary mobile browsers."
XcelMobility will continue to focus on the introduction of their products to the Asian market due to the size of the market, and the tremendous use of the Asian market in accessing the Internet and social media through mobile devices. The company will also continue to pursue new business opportunities in North America, Europe, China, Japan and South Korea.
XcelMobility is currently deriving revenue from subscriptions to purchase its products and plans to increase its revenues by expanding its marketing efforts and to broaden its product offering to include software sales to cell phone manufacturers and provide application sales and enhanced products directly to consumers. XcelMobility currently has approximately 1,030,000 free and paying customers.
Please visit the company's website for more information: www.xcelmobility.com
Ron Strauss, Chairman, XcelMobility Inc.
About XcelMobility Inc. (OTCBB: XCLL)
XcelMobility is a US based company focused on the research, development and commercialization of technologies for mobile Internet users. The Company has developed several innovative products, which significantly enhance the performance of smartphones, tablets and netbooks, that connect to the Internet using cellular carriers. Due to the vast size of the mobile market in Asia and this market's propensity co connect to the Internet using mobile devices, XcelMobility is currently focusing its commercialization efforts in Asia. For more information visit: www.xcelmobility.com
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This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. 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. Such forward-looking statements include, among other things, the development of new business opportunities, zero operational impact and projected costs, future operations, revenue, profits, gross margins and results of operations. 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 new projects and development stage companies. 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 any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any 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 annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
SOURCE XcelMobility Inc.