x min read

XLI Technologies Inc (OTCMKTS:XLIT) Rises From The Ashes

XLI Technologies Inc (OTCMKTS:XLIT) Rises From The Ashes
Written by
Alex Carlson
Published on
February 27, 2017
Copy URL
Share on LinkedIn
Share on Reddit
Share on Twitter/X
Share on Facebook
InsidrFinancial

XLI Technologies Inc (OTCMKTS:XLIT) was one of the biggest promos on the OTC Markets last year. It was run by the powerful Trader's Choice group, which uses email and a call center to get unsuspecting victims to buy their picks. Their picks start off strong, only to later see a massive dump as Trader's Choice moves onto its next pick. As you can see from the chart, what Trader's Choice did with XLIT is not pretty.The good news is that it looks like the company is fighting back. According to a recent press release:

XLI is currently preparing to file a formal complaint to the SEC regarding two parties in which they believe to be found causing financial damages, droit moral and affecting XLI’s value in the marketplace. This caused the company not to be in current reporting status as well as having to extend the timeframe of all projections including, but not limited to, the theater rollout installations. These two parties are as follows: party #1, Traders-Choice (traders-choice.com). James Schramm stated “I, XLI and/or any/all related affiliates has never entertained, considered and/or conducted any business of any kind with Traders Choice.” Party #2 is RDW Capital, LLC / John DeNobile. James Schramm commented, “RDW Capital, LLC and John DeNobile provided a convertible note to XLI in the beginning, positioning as to support the success of XLI. Their undermining and unimaginable plan caught me by surprise. I confronted John DeNobile on the phone with my findings and suspicions. I feel that his reaction was unprofessional to say the least. I feel that John threatened me, my family, XLI and the shareholders as his behavior and verbiage seemed as if he was a loanshark.”

XLIT is also looking to get its financial house in order and complete its theater rollout. XLIT does have an interesting business. The company provides unique, versatile, durable, and eco-friendly Nanotechnology printed light products (Printed LightSheets) to the entertainment sector including movie theaters, movie studios, production and distribution companies, talent and management agencies, marketing and PR firms, and outdoor media in the USA and Canada.Printed LightSheets are a 100% Nanotech-based light product utilizing a specialty coating printed on a thin sheet (as thin as paper) to generate a clean and pure light source that uses less than one watt of electricity per foot. Printed LightSheets can be bent, cut, folded and smashed without causing any affect or altering to the light. Printed LightSheets have a heat tolerance of 200 degrees F and cold tolerance of -15 degrees below zero, and can stay on continuously for over 10 years. This Printed LightSheet does not have or use any LEDs, bulbs, fuses, glass, and not even any conductive metal.XLIT is also reviewing past business deals. XLIT and BOSCH Technologies, LLC agreed to a mutual release and cancellation of their exclusive distribution and marketing rights agreement for the Caribbean Islands. As a result, XLIT is released and held harmless of all past, current and future liability and responsibility regarding all business for the Caribbean Islands: this encompasses 121 countries including US Virgin Islands, Barbados, Bonaire, the Cayman Islands, Saint Croix, the Bahamas, Hispaniola, Puerto Rico, Jamaica, Dominica, Montserrat, Saba, Saint Kitts, Saint Lucia, Saint Thomas, Saint John, Tortola, Grenada, Saint Vincent, Guadeloupe, Martinique, and Trinidad & Tobago exclusively under the rights and terms of the said exclusive distribution agreement. Bosch Technologies released back to XLIT 4.7 million shares of series C preferred stock.Currently trading with a market cap of $1.1 million, XLIT is a textbook case of what can happen when microcap companies get involved with the wrong people. Unfortunately, it hurts a lot of small investors that bought stock. CEO James Schramm is at least acknowledging past missteps and is trying to keep XLIT afloat and in business. Our biggest concern is that the company is not current with its filings and we don't have a clear picture of its financials. No doubt it's not a pretty sight, but hopefully things are happening behind the scenes to get the company on the proper footing and bring its filings current. The good news is that we believe there's more upside than downside at current levels.We will be updating our subscribers as soon as we know more. For the latest updates on XLIT, sign up below!Disclosure: We have no position in XLIT and have not been compensated for this article.

Discover Hidden Gems

Don't miss the next big opportunity. Subscribe for timely alerts on potential market movers.