On August 30, 2011 XcelMobility Inc. issued 30.3 million shares of its common stock in exchange for 100% of the issued and outstanding capital stock of CC Mobility Limited, a company organized under the laws of Hong Kong. As a result the selling shareholders of CC Mobility acquired 50.50% of the stock of XcelMobility which constituted a change in management. CC Mobility became a wholly-owned subsidiary of XcelMobility.
Prior to the transaction XcelMobility was a shell company. The primary operations of the company consist of the business and operation of CC Mobility and CC Power. CC Power researches, develops and commercializes application for mobile devices which use mobile ph...
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