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Xalles Holdings to Acquire LYC Mortgage

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WASHINGTON, DC and WESTWOOD, MA, July 12, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE – Xalles Holdings Inc. (OTC: XALL), a company focusing on accelerating fintech companies, leveraging blockchain technology for financial reconciliation, and payment auditing solutions, today announces the execution of the Share Purchase Agreement to acquire LYC Mortgage, LLC, a 15 year old, multi-state licensed mortgage lender.

Under the agreement, LYC Mortgage, LLC will become a subsidiary of Xalles Financial Services Inc., which is a wholly owned subsidiary under Xalles Holdings Inc.  LYC Mortgage looks to expand its lending capabilities through the Xalles acquisition by adding scalable technology solutions to complement its existing innovative offerings.

LYC Mortgage, LLC and its DBA, BuyUSDA is a licensed retail Direct Lender for USDA, FHA and Conventional Mortgages in MA, CT, SC, TX and CA. LYC Mortgage plans to expand its business footprint into other states and increase revenue through the acquisition of other existing non-delegated mortgage companies.

As part of this acquisition, Xalles is acquiring a company in LYC Mortgage with an experienced management team, audited financial statements, the liquidity and net worth in excess of $1,000,000 necessary for delegated lender operations.  LYC Mortgage has built the infrastructure to operate as a large company, and given its Direct Lender status on Conforming, FHA and USDA mortgage products, the company can underwrite, close and fund those loans independently. As a Direct Lender, LYC Mortgage earns larger profit margins on mortgage products than the brokers or correspondent lenders will be acquiring. 

The Xalles team plans to utilize some of its fundraising for the expansion of LYC Mortgage’s footprint in terms of acquisitions and new technology. Xalles will also help to create new organic growth for LYC through its growing independent sales network.

“We are excited to be adding the professional LYC management team to the growing Xalles team,” stated Thomas Nash, Xalles Holdings CEO. He added, “Through Xalles Financial Services, we have a unique opportunity to bring innovative loan and mortgage solutions to consumers through the new LYC Mortgage subsidiary. Our other family of companies in the consumer commerce and payments areas will open up new business development and referral channels for LYC Mortgage.”

“We are pleased to be completing this transaction and see the obvious synergies between LYC’s plans and the various ways in which Xalles can assist our business,” said Richard Lee, Managing Member of LYC Mortgage. He added, “We look forward to enhancing our strong systems infrastructure through some of Xalles’ Blockchain applications and we know that the public company fundraising initiatives underway will enable LYC Mortgage to expand rapidly throughout the next year.”

As per the Share Purchase Agreement, Xalles and LYC Mortgage plan to close the acquisition transaction by August 31, 2019. Xalles will continue to look to expand its consumer and small business financial services subsidiary through organic growth and acquisitions.

About Xalles Holdings Inc. (OTC: XALL)

Xalles Holdings Inc. is a holdings company that focuses on direct investments in disruptive fintech companies. The company actively seeks acquisition targets with solid management teams and business models, large total attainable markets (TAM), and lucrative exit opportunities to invest and accelerate growth in. Recently, the company has placed emphasis on leveraging Blockchain technologies to provide industry-leading financial reconciliation and auditing solutions, which will allow for the capture of recurring revenue streams over time. For more information visit: http://xalles.com

Visit us at Investors Hangout: https://investorshangout.com/Xalles-Holdings-Inc-XALL-91200/

Investors Hangout is the only authorized investors blog page for Xalles Holdings Inc.

About LYC Mortgage, LLC

LYC Mortgage, LLC has built a strong reputation as an outstanding mortgage company, serving the lending needs of real estate professionals, builders and individual homebuyers throughout the states of MA, CT, SC, TX and CA. LYC Mortgage is a full service mortgage lender with an experienced staff offering expertise in every area of mortgage lending, from purchase to refinance. We have access to a full range of mortgage sources and all of our lending specialists are dedicated to finding the right loan – with the best rates, terms and costs-to meet our client’s unique needs. The exceptional mortgage services are also available online.

LYC Mortgage, LLC (NMLS ID #1443) www.nmlsconsumeraccess.org is an Equal Opportunity Lender and licensed as a Massachusetts Mortgage Lender/Broker License #MC1443; Connecticut Mortgage Lender License #ML-1443; Texas – SML Mortgage Banker Registration; California licensed by The Department of Business Oversight under the California Residential Mortgage Lending Act #603L253; South Carolina BFI – Mortgage Lender/Servicer License #MLS-1443.

For more information go to www.buyusda.com

Forward-Looking Statements Disclaimer:

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainty and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.gov and in OTC Markets at www.otcmarkets.com

CONTACT: Contact:
Investor Relations Contact:
i-Business Management, LLC
xall@i-businessmanagementllc.com
202-595-1299

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Blockchain PR

BLOK Technologies Announces Closing of Non-Brokered Private Placement

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VANCOUVER, British Columbia, July 19, 2019 (GLOBE NEWSWIRE) — BLOK Technologies Inc. (“BLOK Tech” or the “Company”) (CSE: BLK) (FRANKFURT: 2AD) is pleased to announce that it has closed a Non-Brokered Private Placement (the “Private Placement”) raising gross proceeds of $500,000 from the issuance and sale of 25,000,000 common shares (“Common Shares”)  at a price of $0.02 per Share. No new insiders were created as a result of this Private Placement.

The Private Placement was previously announced on June 26, 2019.

These Common Shares issued under the Private Placement will be subject to a four month and one day resale restriction. Completion of the financing is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals, including approval of the Canadian Securities Exchange (the “CSE”).

The Company intends to use the net proceeds of the Private Placement for evaluating new opportunities as part of its business model and for working capital purposes.

About BLOK Technologies Inc.

BLOK Technologies Inc. is a public company that invests in and develops emerging companies in the blockchain technology sector. The Company’s approach is to provide capital, technology and management expertise to the companies it develops. With core technology being developed for the leading cannabis supply chain integrity network, BLOK Tech continues to grow its business into adjacent industries and emerging technologies. The Company systematically identifies early-stage technologies with potential to disrupt and innovate within their industry and invests the necessary resources to ensure the success of their projects.

For additional information regarding BLOK Technologies and other corporate information, please visit the Company’s website at BLOKTECHINC.COM

ON BEHALF OF THE BOARD OF DIRECTORS

“James Hyland”
Interim President & CEO, Director

For further information, please contact:
James Hyland, B.Comm.
Interim President & CEO, Director
jamie@bloktechinc.com

Statements in this news release may be viewed as forward-looking statements. Such statements involve risks and uncertainties that could cause actual results to differ materially from those projected. There are no assurances the company can fulfill such forward-looking statements and the company undertakes no obligation to update such statements. Such forward-looking statements are only predictions; actual events or results may differ materially as a result of risks facing the company, some of which are beyond the company’s control.

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Blockchain PR

Pomerantz Law Firm Announces the Filing of a Class Action against Ideanomics, Inc. f/k/a Seven Stars Cloud Group, Inc. f/k/a Wecast Network Inc. and Certain Officers – IDEX

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NEW YORK, July 19, 2019 (GLOBE NEWSWIRE) — Pomerantz LLP announces that a class action lawsuit has been filed against Ideanomics, Inc. f/k/a Seven Stars Cloud Group, Inc. f/k/a Wecast Network Inc. (“Ideanomics” or the “Company”) (NASDAQ:  IDEX) and certain of its officers.  The class action, filed in United States District Court, for the Southern District of New York, and indexed under 19-cv-06741, is on behalf of a class consisting of all persons and entities other than Defendants who purchased or otherwise acquired Ideanomics securities between May 15, 2017 and November 13, 2018, both dates inclusive (the “Class Period”).  Plaintiff asserts claims against Ideanomics and certain of Ideanomics’ officers and directors (collectively, “Defendants”) under the Securities Exchange Act of 1934 (the “Exchange Act”).

If you are a shareholder who purchased Ideanomics securities during the class period, you have until September 17, 2019, to ask the Court to appoint you as Lead Plaintiff for the class.  A copy of the Complaint can be obtained at www.pomerantzlaw.com.  To discuss this action, contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 9980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. 

[Click here for information about joining the class action]

Ideanomics purports to operate as a financial technology and asset digitization services company.  The Company asserts that its “business model is to become a next-generation [fintech] company, with the intention of offering both traditional financing solutions and digital financing solutions based on the emergence of trading systems that utilize blockchain and artificial intelligence technologies.”  Historically, however, Ideanomics’ purported business activities have varied widely and changed with some frequency. 

The Complaint alleges that throughout the Class Period, the defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the defendants failed to disclose to investors that: (i) costs associated with building out Ideanomics’ U.S. infrastructure and hiring its new executive team were negatively impacting the Company’s bottom line performance; (ii) as a result, Ideanomics was highly unlikely to meet its 2018 EBITDA guidance; (iii) Ideanomics’ margins in its oil trading and consumer electronics businesses were too low for those businesses to remain viable; and (iv) as a result, Ideanomics’ public statements were materially false and misleading at all relevant times.

On November 14, 2018, the Company issued a press release, filed as an exhibit to a Current Report on Form 8-K with the SEC, announcing the Company’s financial and operating results for the third quarter of 2018 (the “Q3 2018 Press Release”).  In the Q3 2018 Press Release, Ideanomics reported that “we intend to phase out our oil trading and consumer electronics businesses, with the intention to fully divest these assets in the near future,” citing “low margins in relation to top line sales.”  Ideanomics further reported that “[c]osts associated with building out our U.S. infrastructure and hiring our new executive team have put a strain on our bottom line performance, resulting in our increased net loss for the third quarter of 2018 as compared to the third quarter of 2017,” and that accordingly, “we do not anticipate meeting our EBITDA guidance of $35 million for fiscal year 2018.”

On this news, Ideanomics’ stock price fell $1.59 per share, or 48.77%, to close at $1.67 per share on November 14, 2018, damaging investors.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com

CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com 

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Blockchain PR

Live Game Streaming Markets to 2025 – Evolution of Blockchain-based Streaming Platform Presents Lucrative Opportunities

GlobeNewswire

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Dublin, July 19, 2019 (GLOBE NEWSWIRE) — The “Global Live Game Streaming Market – Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025” report has been added to ResearchAndMarkets.com’s offering.

Global live game streaming will grow at a CAGR of over 19% during the forecast period 2019-2025.

The global gaming industry is experiencing a steady growth and is mainly driven by cloud gaming and mobile gaming. With smartphones getting more processing power and 5G network gaining popularity, games are expected to be more interactive and streaming-based. Countries that generated a major part of the revenue in the gaming industry include China, Japan, US, Germany, South Korea, France, Canada, and UK. Also,

Esports is gaining huge attention with the events being telecasted on social media and streaming sites including YouTube and Twitch.

Live Game Streaming market involves streaming video game content via the internet that includes live game play or pre-recorded game plays. Websites that provide live game streaming such as YouTube Gaming and Twitch are called game streaming platforms that provide free view content and paid subscriptions to view premium content. Game streaming platform generates revenue primarily through merchandising, advertisements, and premium account subscriptions.

This report includes revenue generated from game streaming platforms and services only and excludes the revenue generated by companies from any other entertainment media content streaming including TV series, movies, vlogs, reviews, and other related videos.

Live game streaming market will exhibit strong growth during the forecast period mainly due to an increasing number of revenue streams and the growing popularity of Esports and broadcasting of Esports events. Esports market is expected to cross $1 billion by the end of 2019 with major competitions occurring in games like Dota 2, Fortnite, and League of Legend.

Live game streaming vendors are expanding their revenue-generating streams from traditional sources such as advertisement, subscriptions, sales of badges, and contributions to innovative and unexplored territories including betting that can help the vendors to gain more margin in the gaming market.

Based on the geography

North America is the leading revenue generator in the live game streaming market with a major share of the market contributed by the US. A major player in the market, Twitch quotes that More than 20% of Twitch’s total traffic is generated from US. APAC is one of the fastest-growing markets in the live game streaming market with major growth being witnessed in China, South Korea, Taiwan, and Japan.

Based on offering

The global live game streaming market is segmented into a game streaming platform, hardware, and game streaming services. Game streaming platform comprises of revenue generated primarily from advertisements and premium account subscriptions. The services market is mostly constituted by revenue generated through subscriptions and game purchases. Since live game streaming services is in its early stages, the share of the game streaming platform is higher than game streaming services.

Based on solutions

Live game streaming market is segmented into web-based and app-based solutions. The revenue generated from web-based was higher in 2019 and is mainly due to many streaming providers focusing on streaming via web browsers. However, with more mobile games gaining popularity in the streaming, app-based streaming is expected to gain more market share in the forecast period.
Based on revenue model the market is segmented into subscription-supported game streaming and ad-supported game streaming. Subscription game streaming is expected to account for a major share of the market in 2019.

Live game streaming market is primarily dominated by major tech companies including Amazon, Alphabet, Microsoft, Sony, and Nvidia. However, there are some domestic players especially in APAC which offer live game streaming platforms and have gained a huge number of streamers and subscribers in a short span of time.

The aim of this report is to define, analyze, and forecast the live game streaming market on the basis of segments, which includes offering, solutions, revenue model and region. In addition, live game streaming market report helps venture capitalists in understanding the companies better and make well-informed decisions and is primarily designed to provide the company’s executives with strategically substantial competitor information, data analysis, and insights about the market, development, and implementation of an effective marketing plan.

Key Topics Covered

1 Executive Summary

2 Industry Outlook

2.1 Industry Snapshot
2.1.1 Industry Trends

3 Market Snapshot

3.1 Segmented Addressable Market
3.1.1 PEST Analysis
3.1.2 Porter’s Five Force Analysis
3.2 Related Markets

4 Market Characteristics

4.1 Market Ecosystem
4.2 Market Segmentation
4.3 Market Dynamics
4.3.1 Drivers
4.3.1.1 Growth in gamer viewership attributing to broadcasting Esports
4.3.2 Restraints
4.3.2.2 Need for a streamlined financial model in game streaming industry
4.3.3 Opportunities
4.3.3.1 Evolution of blockchain-based streaming platform
4.3.4 DRO – Impact Analysis

5 Global Live Game Streaming Market, By Offering

5.1 Overview
5.2 Platform
5.3 Services
5.4 Hardware

6 Global Live Game Streaming Market, By Solutions

6.1 Overview
6.2 App-based
6.3 Web-based

7 Global Live Game Streaming Market, By Revenue Model

7.1 Overview
7.2 Subscription-supported
7.3 Ad-supported

8 Global Live Game Streaming Market, By Region

9 Competitive Landscape
9.1 Competitor Analysis
9.2 Product/Offerings
9.3 Market Developments
9.3.1 Mergers & Acquisitions (M&A)
9.3.2 Expansions
9.3.3 Business Restructuring

10 Vendor Profiles

  • AfreecaTV
  • Alphabet
  • Amazon
  • Apple
  • Bigo Technology
  • Dlive
  • Douyu
  • Facebook
  • GosuGamers.
  • Huya
  • Major League Gaming (MLG)
  • Microsoft
  • Nvidia
  • Parsec Cloud
  • Shadow
  • Smashcast
  • Sony
  • Tencent
  • Vortex Cloud Gaming

For more information about this report visit https://www.researchandmarkets.com/r/t7prf9

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

CONTACT: 
CONTACT: ResearchAndMarkets.com
         Laura Wood, Senior Press Manager
         press@researchandmarkets.com
         For E.S.T Office Hours Call 1-917-300-0470
         For U.S./CAN Toll Free Call 1-800-526-8630
         For GMT Office Hours Call +353-1-416-8900
Related Topics: Broadcast
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