Exxe Group Inc. (OTCMKTS:AXXA) was up 13% after announcing that after a review of its business lines and key assets, three firm lines posted a 42% average revenue growth for the quarter ended September 30, 2021, compared to the June quarter.
Trading Data
On Tuesday, AXXA stock moved up 13% at $0.0266 with more than 6.67 million shares, compared to its average volume of 2.44 million shares. The stock has moved within a range of $0.0242 – 0.0299 after opening the trade at $0.0250.
Earnings Review
The company’s management noted that it is surprising for firms to generate this kind of performance within a year, and as such, it is a rare feat for the company to accomplish that in three months. Furthermore, the performance shows that Exxe group/s private equity busies approach is effective and it exceeds internal expectations. The company will publish the complete results of the business lines on November 15, 2021.
For the quarter ended September, MMeditech Gmbh reported revenue of $1.4 million, reflecting a 40% increase for $0.999 reported during the June quarter. Interior design and furniture company Daskonzept saw a 29% revenue increase to $1 million while Exxe Group’s main automobile lines MMOTO Gmbh had revenue of $2.1 million. Investors should keep an eye on AXXA in the coming weeks.
Key Quote
Dr. Eduard Nazmiev, Exxe Group CEO, commented on the strong performance. “We are very pleased with the impressive performance of these ‘star business lines’. The fact that it occurred on a sequential, or ninety-day basis, exceeded our internal expectations and is yet another shining example of our team identifying the right businesses and right markets at the right time. We are excited that much like the major asset growth recorded previously, Exxe Group is on the path to consistently recording major revenue growth as well across our firm, not just these three highlighted units. Our detailed quarterly financial results will be published on November 15th. In addition, during this quarter we look forward to sharing with our investors’ detailed reports, along with outlining our vision, goals, and upcoming milestones we plan to achieve in 2022 and beyond.”
Technical Data
AXXA stock is trading above the 20-Day and 50-Day Moving averages of $0.0256 and $0.0223 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0077. The stock is up 7% in the past 3-month.
