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     268  0 Kommentare XcelMobility Inc. Provides Fiscal 2013 Year End Financial Results

    REDWOOD CITY, CA--(Marketwired - Apr 24, 2014) -  XcelMobility, Inc. (OTCQB: XCLL) (OTCBB: XCLL) ("Xcel" or the "Company"), a leading wearable computing device development and marketing company, is pleased to announce the financial results of its 2013 fiscal year ending December 31, 2013.

    Revenue for the year ended December 31, 2013 was $2,781,745, an increase of $2,504,339 or 902.8% from $277,406 for the year ended December 31, 2012. This increase in revenue was primarily due to the acquisition of Jifu Technology's security products group. Its 50+ team of video solutions engineers was successfully merged with Xcel's cloud connected LBS Services division in 2013 to enhance and expand the opportunity for Xcel to deliver the industry's most advanced cloud connected wearable computing solutions for the security markets.

    Gross profit for the year ended December 31, 2013 was $2,287,260, an increase of $2,027,807 or 781.6% from $259,453 for fiscal 2012. The Company reported a net loss of ($504,848) for the year ended December 31, 2013 compared to net loss of ($434,769) for the year ended December 31, 2012.

    Founder and Executive Chairman of XcelMobility, Mr. Ronald Strauss, stated, "2013 was a transition year for the Company. We successfully integrated our recent, strategic acquisition of Jifu Technology and, together, we launched the Companion cloud-connected wearable computing solution, initially targeted at the large public and private security markets. We are looking forward to continued growth in 2014 as we grow revenues in both our existing products and our newly launched Companion wearable computing platform."

    About XcelMobility, Inc.
    XcelMobility is combining wearable computing devices, location based technologies, and cloud computing to become a leading developer of mobile internet products and services, specifically focused on China's burgeoning mobile market of well over 1 Billion users. The Company has recently reorganized into two divisions:

    1. Wearable Computing Group -The Wearable Computing team develops and markets industry leading wearable computing devices and software. The group has recently launched CCwatch targeted at the security market.

    2. Video and Security Group - The Video and Security team delivers location and video enhanced security systems for public and private security forces in China. It is building next generation security and surveillance systems that combine wearable computing, location based services and cloud based advanced video solutions.

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    XcelMobility Inc. Provides Fiscal 2013 Year End Financial Results REDWOOD CITY, CA--(Marketwired - Apr 24, 2014) -  XcelMobility, Inc. (OTCQB: XCLL) (OTCBB: XCLL) ("Xcel" or the "Company"), a leading wearable computing device development and marketing company, is pleased to announce the financial results of its …