Excel Corporation (OTCPK:EXCC) entered into a securities exchange agreement to acquire 90% stake in Payprotec Oregon, LLC from Mychol Robirds and Steven Lemma on February 17, 2014. Under the terms of consideration, Excel Corporation will issue its 20.4 million common stock and two shares of its series A preferred stock. As a result of this transaction Excel Corporation is also acquiring 90% stake in Payprotec Oregon, LLC's subsidiary, Securus Consultants, LLC.

The transaction is subject to approvals from governmental authority or third party persons, due diligence, financial audit of target, and execution of emplyment agreements. The transaction is subject to due diligence investigation by Excel. The transaction is expected to close by March 31, 2014.

Robert Schechter of Schechter & Hillo acted as legal advisor for Excel Corporation. The expected closing date as extended from March 31, 2014 to April 21, 2014.