XLI Technologies Inc (OTCMKTS:XLIT) continues to consolidate well at the $1 level after the run up the stock made in recent months from just over $0.25 a share. XLIT is the new ticker symbol for MYXY changed on December 1 to more represent the products, company, and brand.
XLIT has exploded in recent months since it was trading for $0.20 2 months ago. It all started for XLIT on October 23 when they filed an 8k that stated the Company will change their name from Mineria y Exploraciones Olympia Inc. to XLI Technologies, implement a new management team, and a new business plan.
XLI Technologies Inc (OTCMKTS:XLIT) was formed to capitalize on the anticipated huge demand for their new flagship product, nanotechnology printed lights, otherwise known as LightSheets.
In October XLIT announced it had completed the acquisition of Bosch International, LLC, a Nevada limited liability company. According to the share agreement from October 20, the Company acquired 100% of the issued and outstanding membership interest of Bosch, in exchange for 25,000,000 restricted shares of the Company’s common stock. As a result of the acquisition, Bosch became a wholly-owned subsidiary of the Company.
Bosch International, LLC holds the exclusive rights in the United States and Canada to distribute LightSheets (printed light technology/nano printed lights) for the entertainment sector including movie theaters, movie studios, actors, agencies, marketing firms, PR firms, outdoor media, motion pictures, and television. LightSheets are a truly 100% nanotechnology utilizing a specialty coating printed on a thin sheet (as thin as paper) to generate a clean and pure light that uses less than one watt of electricity per foot.
LightSheets can be as small as 1 X 1 inch or as large as 800 X 800 feet. LightSheets can be bent, cut, folded and smashed without causing any affect or altering to the light. LightSheets have a heat tolerance of 200 degrees F and cold tolerance of -15 degrees below zero, can stay on continuously for 10 years, have no LEDs, no bulbs, no fuses, no glass, not even any conductive metal.
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In November XLIT said Mr. James Schramm has been appointed as its new Chief Executive Officer. Mr. Schramm has been involved in the entertainment industry since 1995 when he founded two companies: The Legal Helpline a legal TV commercial service company, and Summit Entertainment Inc. a production and commercial distribution company. TLH grew to become a household name, with a presence in every state as well as 31 foreign countries. SEI achieved rapid growth by expanding into special commercial production and distribution/exploitation for specific markets and using different marketing techniques to achieve increased awareness.
On February 17 XLIT announced it has completed the cancellation of 40,000,000 shares of the Company’s Common Stock beneficially owned by Company CEO James Schramm in exchange for 100,000 newly issued shares of Series A Preferred Stock.
James Schramm, CEO of XLI Technologies, Inc., stated, “Completion of the first stage of our share restructuring plan has dramatically and permanently reduced the number of XLI common shares outstanding. This puts the Company in a stronger position to take advantage of potential new business opportunities, but equally as important, the fact that Series A Preferred shares are restricted from sale and not convertible back into common shares are a reminder of management’s long-term commitment to the success of this company and maximizing value for all shareholders.”
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Currently trading at a $108 million market valuation XLIT has no assets or revenues and manageable debt. The stock is up big after the Company acquired Bosch International, LLC who owns the exclusive rights in the United States and Canada to distribute the nanotechnology, LightSheets for the entertainment sector. Clearly XLIT is a major league promotion with dollar volume topping several million dollars a week. Those benefitting the most and likely liquidating into the promotion are the forty unnamed individuals who received a total of 25 MILLION free-trading shares from ex-CEO Francisco Antonio Jerez Garcia for $0.002 a pop. We will be updating on XLIT when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with XLIT.
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Disclosure: we hold no position in XLIT either long or short and we have not been compensated for this article.