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XcelMobility Introduces Key Financial Executive(November 07, 2011)
REDWOOD CITY, CA -- (Marketwire) -- 11/07/11 -- XcelMobility Inc. (OTCBB: XCLL) ("Xcel" or the "Company"), a developer of high speed web browsing solutions and related performance enhancing products for mobile devices, is very pleased to announce the appointment of Ms. Joyce Pan (Pan Chunhong) as CFO of technology subsidiary, CC Power.
Ms. Pan brings over 15 years of experience in corporate finance and accounting for publicly listed companies on both the Hong Kong and Singapore exchanges. She is well versed in financial management especially in the area of capital financing. She has worked closely with major banks and other lending institutions as well as International finance groups in order to manage a wide variety of investments. She has been instrumental in administering market offerings and related financings and provides extensive skills in the area of taxation planning and Government funding opportunities.
Prior to joining the Company, she was CFO and Director of Shenzhen KXD Multi-media Co., listed on the Singapore Exchange, and previously as Financial Manager for Yulong Computer Telecommunication Scientific Co., Ltd, a company listed on the Hong Kong Exchange. She earned her Master of Arts, International Accounting (MAIA) at the City University of Hong Kong (2005), and her Bachelor of Finance Management at Jia Ying University of Mei Zhou Guangdong (1990).
XcelMobility Inc. (formerly CC Power) is 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 enabling subscribers to access and utilize the Internet significantly faster than ever before. XcelMobility produces a suite of products for mobile phones that leverage the performance of the Mach 5 product as well as products that increase the speed of Virtual Private Networks.
Ryan Ge, CEO of XcelMobility, comments, "We are extremely pleased by Ms. Pan's appointment. CC Power is an important subsidiary which provides some of our key technology and her expertise is welcome at this important juncture in the growth of our organization. Along with the rapid adoption of our technology comes the need for infrastructural growth and oversight. We aim to ensure our financial management is fundamentally sound so that we can build upon our successes and react immediately and fluidly to the needs of our exciting and ever changing market place. Her appointment clearly helps fulfil this mandate and we warmly welcome her to our growing team."
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 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 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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