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Xcelerate Inc (OTCMKTS:XCRT) Stock Sees Selling Pressure After Key Shareholders Update

Pete Matthews , , , ,

Shares of Xcelerate Inc (OTCMKTS:XCRT) were down in the previous session after issuing key updates to shareholders.

Market Stats

On Wednesday, XCRT stock slid 7.7% to $0.0535 with more than 1.40 million shares, compared to its average volume of 191k shares. The stock moved within a range of $0.0480 – 0.0640 after opening trading at $0.0600.      

Michael O’Shea CEO, Releases Shareholder Update

Xcelerate, Inc (OTCMKTS:XCRT) Michael O’Shea, CEO on March 9, 2022 released a shareholder update.The CEO confirmed on the company acquiring 51% membership interest in AfiyaSasa Africa. He also expressed excitement on announcing Dr. Dilan Elegalla’s relocation to Tanzania for establishing pilot program.

Furthermore, he added that ASA has onboarded four staff including C.E.O. SriyanjitPerera. Perera, who has over a decade experience in Dar Es Salaam, Tanzania, as Health Information System Advisor. He was assigned to CDC’s Health Information System working closely with senior Ministry of Health and Social Welfare officials.

The company also took on three senior Information System Developers having experience in national information systems, hospitals as well as health sector systems across the country. Michael O’Shea, Xcelerate CEO said that currently there is just one physician for every 390 citizens in United States. That number is 5000 in Africa. Shea added that ASA can help African people to meet medical needs by extending reach of physicians to patient’s mobile devices.

With over 650 million mobile users in Africa currently, it is estimated that by 2025 over a billion Africans would have access to SIM connection. This would represent significant part of population and ASA can exponentially transform access to medical care for those individuals. ASA is expecting to have an operational beta site by end of second quarter of 2022 and hopes to produce revenue before end of the year.

Traders Corner

XCRT stock is trading below the 20-Day and 50-Day Moving averages of $0.00607092 and $0.0688 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0776.

Pete Matthews

Pete attended the University of Colorado and still calls the centennial state home. He chases trout in the summer and snowboards in the winter. He is fascinated with the markets and has a strong interest in nanocap stocks and crypto currency.