Company Update XSport Global,
Inc.
NEWPORT BEACH, CA -- March 10, 2020 -- InvestorsHub NewsWire --
XSport Global, Inc. (OTC:
XSPT):
Dear XSPT Shareholders:
We are aware of the recent concerns with the late filings and
low stock price of the company. We are working with new
counsel to help with the restructuring of the company which could
possibly affect the current stock price. We are having
difficulty attracting new capital as a result of the capital
structure and various notes holders’ activity. Unfortunately, many
of these legacy issues were inherited from the past several
management teams and the company’s overall inability to launch the
HeadTrainer app.
At this time, we have put the development and BETA launch of the
XSport Connect platform on hold, pending further investment. We
will turn our limited resources back onto HeadTrainer and
FitLinkDNA brands. The company cannot move forward with any new
athletes and sports celebrities to become brand ambassadors without
the capital resources necessary to meet the minimum financial
contract requirements.
We continue to be optimistic, however without the help from the
existing note holders the company will continue to struggle.
Finally, we have lost a few of our key team members as a result of
our lack of funding in addition we have scaled back on the
Innovation Center.
Going forward:
We will continue to share pertinent information as quickly as
possible. We welcome your emails
to investor@xsportglobal.com or info@xsportglobal.com.
Thank you for your ongoing support.
Ray Mariorenzi
CEO, and President XSport Global Inc.
About XSport Global, Inc.
XSport Global, Inc. (OTCQB:
XSPT) is a leading youth and collegiate sports technology and
media holding company focused on developing disruptive
sports-centric technologies and related media projects around the
world, where sports industries, fans and players are highly
regarded. Backed by a roster of professional athletes and brand
ambassadors, we seek to help athletes achieve their full potential
through cognitive training, careers, genetics, recruiting and more.
Visit www.xsportglobal.com and www.headtrainer.com for more
information.
Safe Harbor Statement under the Private Securities
Litigation Reform Act of 1995.
Any statements contained in this press release that do not
describe historical facts may constitute forward-looking statements
as that term is defined in the Private Securities Litigation Reform
Act of 1995. You can identify forward-looking statements by words
such as "anticipate," "believe," "could," "estimate," "expect,"
"intend," "may," "plan," "should," "would" or similar words. You
should consider these statements carefully because they discuss our
plans, targets, strategies, prospects and expectations concerning
our business, operating results, financial condition and other
similar matters. These statements are subject to certain risks,
uncertainties, and assumptions, including, but not limited to,
risks and uncertainties relating to the Company's ability to
develop, market and sell products and services, based on its
technology; the expected benefits and efficacy of the Company's
products, services and technology; the availability of additional
funding for the Company to continue its operations and to conduct
research and development, and future product commercialization;
and, the Company's business, research, product development,
regulatory approval, marketing and distribution plans and
strategies; the ability of the Company to execute on a business
plan that permits the technologies and innovations businesses to
provide sufficient growth, revenue, liquidity and cash flows for
sustaining the Company's go-forward business, and the risks
identified and discussed under the caption "Risk Factors" in the
XSport GlobalX’s Annual Report filed with the Securities and
Exchange Commission (the "SEC") and the other documents XSport
Global files with the SEC from time to time. There will be events
in the future, however, that XSport Global is not able to predict
accurately or control. XSport Global's actual results may differ
materially from the expectations that XSport Global describes in
its forward-looking statements. Factors or events that could cause
XSport Global's actual results to materially differ may emerge from
time to time, and it is not possible for XSport Global to
accurately predict all of them. Any forward-looking statement made
by XSport Global in this press release speaks only as of the date
on which XSport Global makes it. XSport Global undertakes no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law.
Contacts
Media Relations Dept.
XSport Global Corporate
(949) 468-0075
Info@xsportglobal.com