The Kranem/Xalted Group is a leading worldwide provider of end-to-end proactive intelligence, analytics, and revenue maximization software and solutions. The Company serves some of the world’s largest law enforcement agencies, government agencies, and telecom and data services providers. Kranem has their corporate headquarters in Menlo Park, California, and additional offices in Mumbai, Delhi, Bengaluru, and Baddi, India.
The two principal markets that Kranem/Xalted Group software solutions address are the telecom security market and the homeland security market. Xalted includes law enforcement as part of the homeland security market. The Company’s current and past geographic focus is on India and the surrounding countries in Asia, Africa, and the Middle East.
Today, through providing advanced tools to monitor communications and optimize decision-making, the Kranem/Xalted Group helps law enforcement and government agency customers defend against security threats created by terrorists and criminal activity globally. For telecom customers, the Kranem/Xalted Group provides software and solutions created to improve business performance, increase operational efficiency, maximize revenues, and enhance safety and security.
On June 30, 2011, Kranem/Xalted Group entered into and consummated an Asset Purchase Agreement with Investco, a British Virgin Islands corporation. They acquired certain software, source code, intellectual property rights and other materials relating to the “Data Retention,” “Man in the Middle,” “Man in the Middle Detector” and “nCrypto” products and product families.
Kranem/Xalted Group develops their software products internally. In some cases, they incorporate software licensed from Oracle Corp., BMC Corp. or other third-party suppliers specified by their customers. They license their software to their customers. It is not integrated with hardware products at the time of sale. In the telecom security market, they provide four software modules that address different aspects of the telecom security market. These are revenue maximization, revenue assurance, fraud management, and OSS/BSS (operations support systems and business support systems).
In the homeland security market, governments and law enforcement agencies use their security solutions in their efforts to protect people and property and combat terrorism and crime. Their homeland security customers include the national Government of India and local and regional law enforcement agencies and bodies in India, such as the Anti-Terrorist Squads in Mumbai, Maharashtra and Goa, the STF or special task force in Uttarakand, and the Cyber Crime division of the Thane District Police.
Today, Kranem announced that they reclassified their May 13, 2011, acquisition of Xalted Networks, Inc. as a reverse recapitalization. This is often referred to as a reverse merger, rather than a stock acquisition. Kranem has determined that their unaudited financial statements for the three month period ended June 30, 2011 and included in their quarterly report on Form 10-Q for the reporting period ended June 30, 2011 should be restated to reflect the new accounting treatment of the Xalted Networks transaction. Consequently, Kranem will file an amended 10-Q (10-Q/A) with the Securities and Exchange Commission for the three-month period ended June 30, 2011.
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