XLI Technologies Inc (OTCMKTS:XLIT) has been making significant progress to improve the way advertising is done. Recently, the company revealed that it was using nanotechnology, imprinted on light sheets, to revolutionize advertising. Currently, such sheets are marketed to the entertainment sector, marketing and PR firms and to the outdoor media. However, XLIT also has the rights to market these products to the automotive and energy sector as well.
XLIT updated its investors that the company has so far marketed the LightSheets to over 250 theaters and is expected to increase this number to 1,900, by July 2016. More recently, XLIT reached an agreement with JC Venture Enterprises to use these sheets as light sources for plant production. This indicates that the management is trying to find new and innovative uses of its product in different industries. Moreover, the management is also trying to secure financing, for the successful marketing of the product.
The milestone to achieve 1,900 theater locations is one that would begin the company’s journey to generate substantial revenue and business. The CEO of XLI Technologies, James Schramm, stated that the theater Printed LightSheet rollout program has taken several months to get positioned. He also voiced his view that once the milestone has been reached, it would attract more orders, from theater owners.
Apart from making significant progress with its lead product, XLIT is also undergoing a restructuring process. The company recently cancelled a total of 65,000,000 shares of its common stock, owned by the CEO. The move has significantly lowered the number of outstanding shares of the company, thereby reducing its liquidity. The CEO expects that the move would help to stabilize the recent upswings and downswings experienced by the stock in the market. He further highlighted that this provides the company with an added option to expand its business and seek financial assistance.
XLI Technologies Inc (OTCMKTS:XLIT) closed trading at the end of the April 4 session, at a share price of $0.102, after a trade volume of 2.53 million shares.