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XcelMobility Increases Technical Staff to Keep Pace With Growth(March 20, 2012)
REDWOOD CITY, CA -- (Marketwire) -- 03/20/12 -- XcelMobility Inc. (OTCBB: XCLL) ("Xcel" or the "Company"), a developer of high speed web browsing solutions and related performance enhancing products for mobile devices, wishes to advise that in response to a number of recently announced agreements and initiatives, the Company has reacted with the addition of skilled technical personnel in order to manage timely product delivery and an increase in new product development.
Since the beginning of the new year, Xcel has entered into a variety of licensing, sales and deployment agreements through a variety of arrangement with, or for, Shenzhen LMI, China Mobile, ZTE, China Unicom, Tianditu Limited, and Clickoo Limited. This highly successful 3-month push has developed significant opportunities for future growth and Company management aims to proactively ensure its ability to manage the next phase of corporate development.
Xcel CEO, Ryan Ge, comments, "As with any company, growth impacts a number of factors we are more than happy to address. We looked at the situation and determined that now is the time to bolster our technical staff as our ability to manage the technology is critical to our success. Once we complete the next quarter, internal reviews will provide us with data to demonstrate our effectiveness and will prove instrumental in creating a roadmap for future growth as the technology becomes more widely adopted."
As part of the Company's continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934, further details of the Company's business, finances, appointments and agreements are filed with the Securities and Exchange Commission's ("SEC") EDGAR database. For more information and to view the Company's corporate video please visit: www.xcelmobility.com.
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 develops innovative products which considerably enhance the internet performance of smartphones, tablets and netbooks when connected to cellular carriers. Due to the vast size of the mobile market in Asia and the inherent propensity to connect to the internet using mobile devices, XcelMobility believes that shareholder value is best served by focusing commercialization efforts in the Asian marketplace prior to a product roll out on a global scale. For more information including our corporate video, please visit: www.xcelmobility.com.
Notice Regarding Forward-Looking Statements
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.
On Behalf of the Board,
Ryan Ge, Director,
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