RCABS Inc (OTCKMKTS:AXXA) (aka Exxe Group, Inc) is focused on targeting acquisitions in real estate, technology with an emphasis on blockchain, aerospace, media, and financial services industries. Recently the company has undergone some major shifts, in addition to making some noise on the chart as well.
In terms of the chart, an impressive upswing occurred in late April up until the beginning of this month, when it withdrew sharply, losing nearly all the ground it had previously gained. More recently, there has been the establishment of support once again, and we’re going to want to look out for what could be the stock’s next leg up. It coincides with those big changes we mentioned above.
First, RCABS Inc (OTCKMKTS:AXXA) (aka Exxe Group, Inc) made the landmark announcement the previously Canadian company had completed the process of reorganization here in the US. Exxe Group thinks the United States, and Delaware-specifically, is the most favorable jurisdiction for pursuing its acquisition-driven model of creating shareholder value.
This corporate reorganization and re-domiciling effort is part of a larger strategic repositioning. Other elements of this corporate repositioning will include a ticker symbol change. Exxe Group believes these efforts on the corporate level will best position it for success as it embarks on acquisitions in its core areas of real estate, technology, healthcare, financial services, and media. With a full pipeline of deals on the horizon, these actions on the corporate level will best position Exxe Group to make accretive, value-added acquisitions.
Just a few days later, it was announced that CEO Jason Cataldo decided to step down as head of AXXA to pursue personal interests. Mr. Cataldo will remain an advisor to Exxe Group, and will engage as needed to ensure an orderly transition as well as offer continuing expertise and counsel on projects he had led during his time with the company.
“While I have greatly enjoyed my time with Exxe Group, I believe I have accomplished all that I could in my role as CEO. Its time for me to hand the baton to the next leader of this company; someone who will lead Exxe Group to the full realization of its potential as an acquisition-led growth company across multiple sectors.” Said Mr. Cataldo.
Exxe Group is also announced that David Callaghan had joined the company as Chief Technology Officer. In this role, David will not only oversee Exxe Group’s internal informational technology needs, but spearhead due diligence and strategy for its acquisitions in all IT-related areas, as well as work to achieve synergies across IT investments. In addition to his permanent role as Chief Technology Officer, Mr. Callaghan will serve as Interim CEO of Exxe Group following the departure of Mr. Cataldo.
Mr. Callaghan has over twenty years of software development experience and is a thought leader in blockchain, big data, and cloud computing. He has significant experience in the field of data governance, and hands-on coding experience in several programming languages. Mr. Callaghan is a veteran developer of many corporate IT departments including those of Bank of America, Wells Fargo, Duke Energy, and CIGNA. Most recently, he was a blockchain and big data developer at 2C Data and a technical architect at Perficient. (Source: OTC Disclosure & News Service)
There’s a lot of changes happening at AXXA, but at the moment we are primarily interested in the setup of the chart, which could lead to gains of more than 100% if even a fraction of the run that happened last month were to re-occur. We’ll stay up on any further developments with AXXA and pass them along to you!. Keep it locked on Street Register for updates, and we’ll deliver important developments on AXXA as they unfold. In the meantime, if you’ve yet to sign up for our 100% free newsletter, do so now! Just enter your active email address into the box below and submit!
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