Xcelerate Inc (OTCMKTS:XCRT) acquires engineering/patents and applies them to early-stage medical technology companies. The company supplies to controlled clinical care settings, in which developments will be taken on trial, evaluated, and applied for end-to-end controlled medical technology development. Incorporated in 1996 in South Carolina, Xcelerate Inc was known as Union Dental Holdings.
On Wednesday, XCRT stock fell 7.50% to $0.0370 with more than 572K shares, compared to its average volume of 224K shares. The stock moved within a range of $0.0313 – 0.0400 after opening trade at $0.0440.
Xcelerate, Inc. Applies to Trade on the OTCQB Venture Marketplace
The company on June 22, 2022, announced initiating the plan for upgrading the trading of the common stock to the OTCQB Venture Market. The firm has submitted OTCQB application materials to the OTC Markets Group. The listing of its common shares will be subjected to approval.
Recognized by the Securities and Exchange Commission2, OTCQB is seen as an established public market providing public information for securities. It helps companies build shareholder value with the objective of increasing liquidity and achieving fair valuation.
Michael O’Shea, CEO of Xcelerate said that the company believes that trading on OTCQB will augment the firm’s visibility to the investment community, including institutional investors. Shea added that the company is developing a pilot program in Africa through its subsidiary, AfiyaSasa Africa, a virtual health and medical technology company.
Xcelerate had earlier confirmed that Cathy Scangarella had accepted an invitation for joining the Advisory Board effective immediately. Currently, the Chief Business Development Officer and sector lead for Life Sciences at Choose New Jersey, Cathy is leading the business development and overseeing the organization’s national and international lead generation. She is also overseeing the New Jersey India and Europe offices. During her stint at Choose New Jersey, she made tactical business development for concentrating efforts in key international and domestic markets.
She also had a leading role in the company’s business attraction missions to Germany, Israel, Ireland, and India. She also helped in establishing industry partnerships and international university collaborations including Princeton University, Rutgers University, New Jersey City University, and Rowan University.
A veteran of the New Jersey State government, she has served six administrations and has over 25 years of experience in marketing, outreach as well as business development. Cathy is a member of Innovation New Jersey Coalition and was also E&Y Entrepreneur of the Year Judge 2019-2021.
XCRT stock is below the 20-Day and 50-Day Moving averages of $0.0438 and $0.0457 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0591.