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XcelPlus Global Holdings Reports Fifth Consecutive Record Month at $2.4 Million Sales, Files for Move to OTC

^{Published on 2009-11-17 11:18:17 - Market Wire}
 

DOTHAN, AL--(Marketwire - November 17, 2009) - [ XcelPlus Global Holdings, Inc. ] (PINKSHEETS: [ XPGH ]), manufacturer and distributor of industrial [ biofuels ], announced its fifth consecutive record month, with sales of $2.4 million for October, representing a 62% increase in fuel deliveries to 954,000 gallons. Gross revenues since June now exceed $5.5 million. In addition, the company announced its intention to file for a move to the Over the Counter exchange.

"October sales were strong and we had set our sights on delivering a million gallons for the month, but a rainout during the last week washed away those hopes," said J. Michael Parsons, company president and CEO. "Nevertheless, our outlook for the remainder of the year is positive, and demand continues strong, with the paving industry eager to 'green up' its environmental reputation and operations using our products. Full permitting for the state of Florida appears to be near, which should help offset the slackening in construction that would be normal during the holidays and winter."

The audit of the company's financial information continues and a reviewed report of October 2009 results will be released soon. "With a full audit in progress, company management believes it would be prudent at this time to file an S-1 with the SEC to emerge from Pink Sheets and move to the Over the Counter exchange," Parsons added. "If approved, this milestone will be instrumental in building a new and larger investor base for the company, and should increase shareholder value for all as the company grows."

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.

To view the publicly released financial statements ending October 31, 2009, please click here: [ http://xcelplusglobal.com/Reports/Financial/2009_10_End_Oct.pdf ]