Reno, Nevada--(Newsfile Corp. - July 14, 2020) - XcelPlus International Inc. (OTC Pink: XLPI) announced today its official reinstatement, along with changes in the company's management, board of directors and future plans.
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XcelPlus completed its reinstatement with the State of Nevada on July 6th by paying all required arrears costs. The board of directors was modified to install Dr. Charles J. Robinson while removing some of its former members. Billy R. Smith remains on the board serving in the role of chairman.
Robinson was also installed as president and CEO of XcelPlus following Smith's resignation from those positions. Smith will continue to serve as an advisor to the company in addition to his position as board chairman.
In addition, a recent custodianship case brought against XcelPlus was settled in the company's favor on July 13th within the Nevada court system.
Dr. Robinson, the incoming president and CEO, has an extensive background in the cryptocurrency world and has managed companies for several decades. He has been a shareholder of XcelPlus for more than 10 years and believes in the vision the company has. He also has a demonstrated interest in the use of cryptocurrencies in the energy sector and has expressed a desire to develop crypto technologies for XcelPlus.
"The chemical line that the company was founded on will once again be brought to market," said Robinson. "In addition to revitalizing some of our original product lines, we will soon begin introducing new products as we move forward."
Along with the changes at the top of the company comes word of an imminent stock adjustment for XcelPlus to make room for incoming technologies the management team has been developing for several years.
Billy Smith, XcelPlus chairman of the board, said, "For several years, a hydrogen-on-demand technology has been worked on privately, allowing a syngas to be created with sufficient energy to power today's automobiles. We will be bringing this online within the next year as the project is completed. We have a plasma physicist, a Ph.D. in syngas technologies, and a Master ASE certified mechanic who specializes in automobiles and jet engines all involved in bringing this technology to fruition."
Dr. Charles Robinson, the new president and CEO of XcelPlus, said, "Plans are also in the works to bring other technologies into the company that advance the vision of an alternative-energy world. We have been working for years with companies and projects that are in some cases ready for market. We are excited about watching the results of those projects play a role in helping us decrease our dependence on foreign oil and toxic energy sources."
Going forward, the new XcelPlus web address will be www.xcelplusint.com. Further changes and additions are expected to be made to the company, and the announcements related to those events will be made on the XcelPlus website and social media accounts.
This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Although XcelPlus International believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any assumption could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion should not be regarded as a representation by XcelPlus International Inc or any other person that the objective and plans of XcelPlus International Inc will be achieved.