XcelPlus Global Notches First $1+ Million Month as New Strategy Gets Traction, September Forecast Brighter

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DOTHAN, Ala.-(Business Wire)-September 9, 2009 - XcelPlus Global Holdings, Inc. (Pink Sheets: XPGH), manufacturer and distributor of industrial biofuels, reports August sales of $1.2 million, an increase of nearly 1600% over July – as the strategy of the new management team begins to show its effect. "We appreciate the support of our shareholders as we have worked to transform this company from a position of debt and no sales, to million-dollar-plus monthly sales and no debt," said J. Michael Parsons, president and CEO. "We believe this is just the beginning of XcelPlus's potential."

Strategic alliances with Freedom Fuels, LLC and Gen-X Energies have played key roles in implementing XcelPlus' successful game plan, according to Parsons. "Freedom Fuels has done a superb job securing new customers who are increasing their volumes with us," said Parsons. "Likewise, Gen-X Energies is managing operations and developing new products that we believe will open new markets." Gen-X also assists with quality control and product procurement.

One of the company's most important near-term goals, according to Parsons, is selection of an audit firm this month as a step toward producing audited financial reports, a key requirement for XcelPlus to advance from its status as a Pink Sheet stock. XcelPlus is also implementing new software for more cost-effective management. Its new website, scheduled for launch this month, will give the company a higher profile.

"We are encouraged and optimistic with the reception from the marketplace," Parsons added. "Our forecast is for a strong September – better than August, which was the company's best month. With results trending positively, XcelPlus should achieve increased shareholder value. We appreciate the confidence our shareholders place in the management team and want to assure them we are working in their best interests daily."

This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties, including, without limitation, the ability to obtain financing and regulatory and shareholder approval for anticipated actions.

Investors Relations at investor@xcelplusglobal.com

XcelPlus Global Holdings, Inc.
866-492-5325

http://Xcelplusglobal.com/

 
 

XCELPLUS GLOBAL HOLDINGS, INC.

FINANCIAL STATEMENTS

Eight Months Ended August 31, 2009

 

ACCOUNTANTS' COMPILATION REPORT

To the Board of Directors
XcelPlus Global Holdings, Inc.
Dothan, Alabama
 

We have compiled the accompanying balance sheet of XcelPlus Global Holdings, Inc. as of August 31, 2009, and the related statements of income and retained earnings for the one month and eight months then ended, in accordance with Statements on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants.

A compilation is limited to presenting, in the form of financial statements and supplementary schedules, information that is the representation of management. We have not audited or reviewed the accompanying financial statements and supplementary schedules and, accordingly, do not express an opinion or any other form of assurance on them.

Management has elected to omit substantially all of the disclosures and the statement of cash flows required by generally accepted accounting principles. If the omitted disclosures and statement were included in the financial statements, they might influence the user's conclusion about the Company's financial position, results of operations, and cash flows. Accordingly, these financial statements are not designed for those who are not informed about such matters.

Bevis, Eberhart, Browning, Walker & Stewart, PC is not independent with respect to this client.

Dothan, Alabama

September 8, 2009

     
XCELPLUS GLOBAL HOLDINGS, INC.
BALANCE SHEET

August 31, 2009

 
 
 
ASSETS
 
CURRENT ASSETS
Cash

$

146,540

Accounts receivable

356,694

Inventory

187,159

 
 
TOTAL CURRENT ASSETS

690,393

 
FURNITURE, FIXTURES AND EQUIPMENT, net

856

 

DEPOSITS

30,274

 
INTANGIBLES

 

211,000

 
 
$

932,523

 
 
LIABILITIES AND STOCKHOLDERS' EQUITY
 
CURRENT LIABILITIES
Trade accounts payable $

273,673

 
 
TOTAL CURRENT LIABILITIES

273,673

 
LONG-TERM DEBT

 

-
 
STOCKHOLDERS' EQUITY

Common stock, $.001 par value, 190,000,000 authorized,
46,309,162 issued and outstanding

46,309

Preferred stock, $.001 par value, 10,000,000 authorized,
6,200,000 issued and outstanding

6,200

Additional paid-in capital

523,759

Retained earnings (deficit)  

82,582

 

 

658,850

 
 
$

932,523

 
 
 
XCELPLUS GLOBAL HOLDINGS, INC.
STATEMENT OF INCOME AND RETAINED EARNINGS

For the One Month and Eight Months Ended August 31, 2009

     
 
 
One Month Ended

Eight Months Ended

August 31, 2009

 

August 31, 2009

 

REVENUE

$

1,213,232

$

1,315,371

 

COST OF GOODS SOLD

896,407

897,045

 
 

GROSS PROFIT

316,825

418,326

 

OPERATING EXPENSES

Advertising and promotion

5,649

31,287

Automobile

1,571

10,503

Bank charges

272

566

Computer and internet

3,639

3,979

Contracted services

11,875

127,729

Corporate fees - 5,624
Depreciation

-

61

Dues and Subscriptions

3,000

3,000

Insurance

-

7,633

Interest

3

3

Investor relations - 51,500

Logistics fees

900

900

Meals and entertainment

20

1,555

Office supplies

204

1,220

Postage and delivery

255

398

Product development

-

622
Professional fees

19,720

23,406

Rent

14,892

15,542

Supplies

1,751

1,751

Taxes and licenses

100

100

Telephone

1,809

3,955

Travel  

822

   

25,656

 
 

66,482

   

316,990

 
 
NET INCOME (LOSS)

250,343

101,336

 

 
BEGINNING RETAINED EARNINGS (DEFICIT)

(167,761

) (768,754 )
Prior period adjustment   -     750,000  
 
ENDING RETAINED EARNINGS (DEFICIT) $

82,582

 

$

82,582

 

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