GEMXX Corporation Posts Positive Quarterly Revenues and Updates Shareholders on Financial Results
News provided byGEMXX Corporation
Nov 21, 2023, 8:30 AM ET
LAS VEGAS, Nov. 21, 2023 (GLOBE NEWSWIRE) -- via IBN / GEMXX Corporation (OTC: GEMZ) ("GEMXX" or the "Company"), a leader in the ammolite gemstone mine-to-market segment and a partner in Canadian gold exploration Company Crazy Horse Mining, Inc. (“CHMI” or “Crazy Horse”), announces upbeat revenue results and shares Company achievements with investors.
GEMXX management is highlighting significant achievements to solidify its strong foundation for the Company moving forward in the coming year. The Company performed well in the last quarter and looks forward to the second half of the Company’s fiscal year.
"We are pleased with the performance of the Company, and we are excited for the anticipated growth in shopping television sales and 2024 production of our gold assets. We look forward to updating shareholders as each new project comes online. Everything the Company has planned is focused on driving shareholder value," commented Jay Maull, GEMXX CEO.
The Company is highlighting recent achievements reflected in this Quarterly Financial Statement.
Shares issued and outstanding are 100,009,646. The Company’s Account Receivables have increased to $1,330,983 compared to the same period last year which was $701,252. The Total Assets of the Company have increased to $20,116,566. Net Income increased to $212,526 compared to $132,842 in the same period last year. The Company’s long-term debt remains at $0.00.
GEMXX has achieved significant milestones recently and it's worth noting that the Company continues to control each stage of its production including gold mining, gemstone production, jewelry manufacturing and global distribution. Further, the Company continues to expand while avoiding long-term debt.
The Company continues to increase shareholder value through the acquisition of assets that support its goal of becoming fully integrated.
“GEMXX has made significant strides this year to support its strategic growth plan,” stated Richard Clowater, GEMXX president.
ABOUT GEMXX CORPORATION
GEMXX Corporation (OTC: GEMZ; $GEMZ) is a publicly traded, mine-to-market gold, gemstone and jewelry producer with global reach that owns mining resources, production facilities and operating assets. GEMXX controls each stage of its production including gold mining, gemstone production, jewelry manufacturing and global distribution.
GEMXX is a leading producer of top-quality finished ammolite and ammolite jewelry. The Company’s world-class gemstone cutters and jewelry designers are continuously leading the Ammolite industry in new and exciting directions. Our management team is made up of the industry's leading experts with a combined total of 160 years of ammolite gemstone and jewelry business experience.
ABOUT CRAZY HORSE MINING INC.
Crazy Horse Mining Inc. (CHMI) is a Canadian Junior resource company with significant gold assets in British Columbia, Canada. In partnership with GEMXX, CHMI aims to unlock the potential of its gold-bearing properties.
SAFE HARBOR STATEMENT
This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the Company's control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
/S/ Jay Maull
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