XcelMobility Inc (OTC:XCLL) broke up the gain last week. After a 6.22% price jump on Thursday, the stock closed the week 
with a 3.56% loss on Friday. However, XCLL is not ready to give up the fight and tries hard to get the climb again by promotions.
The stock has been promoted yesterday and today for a compensation of $40,000 so far. In order to attract investors’ attention, the promoters alerted on the “XCLL’s Breakthrough Technology” , though the result of the campaign is still to be seen.
In any case, that’s not the first attempt of XcelMobility to pump up its stock by promotions. In fact, the company has used the same strategy a number of times before and it seemed to be successful. However, the gains got shortly broken.
XcelMobility is a US-based company focused on the research, development and commercialization of technologies for mobile Internet users. The last announcement by the company was released on April 18 when XCLL reported that they have appointed the certified public accountant Mr. Jack Zwick, CPA, to their Board of Directors, effective immediately.
On April, 20 namely Mr. Zwick has acquired 360000 shares of XCLL common stock at a price of $0.00, for compensation for advisory services rendered by him to the company.[BANNER]
Unfortunately, the annual report of XCLL is not satisfying at all. As of December 31, 2011, the company had cash and equivalents on hand of $615,208, and working capital of $252,808 and they believe that these funds will be sufficient to meet the anticipated cash requirements through June 30, this year. However, the company anticipates generating losses in the near term, and therefore, may be unable to continue operations in the future.
Management claims that XCLL requires additional capital and may have to issue debt or equity or enter into a strategic arrangement with a third party to obtain such capital. In order to meet their planned strategic two to four acquisitions, they estimate requiring up to $3,000,000 in capital.
XCLL will consider debt or equity offerings or institutional borrowing as potential means of financing. However, there are no assurances that they will obtain funds on terms that are favorable to the company.
