LAS VEGAS, Aug. 24, 2023 (GLOBE NEWSWIRE) -- via IBN – GEMXX Corporation ( OTC: GEMZ ) ("GEMXX" or the "Company"), announces today the Company’s positive, quarterly financial achievements, signifying its strong foundational performance for aggressive growth in the coming year. GEMXX is the only publicly traded Ammolite company in the world. With ownership of mining resources, production facilities and operational assets, the Company maintains control over every aspect of its production process, from gold mining and gemstone extraction to jewelry manufacturing and global distribution.
Highlights for the quarter include:
- The number of GEMXX shares both issued and outstanding stands at 96,851,751.
- Account Receivables increased to $1,003,942.00.
- Net Income remained positive at $46,279.00.
- Total Long-Term liabilities were successfully brought down to $0.00, a significant shift from the $226,759.00 recorded last year.
- Total Assets of the Company have grown to $19,282,705.
“We have made considerable strides in the past year and continue to post positive net revenues,” said GEMXX CEO Jay Maull. “We have also reduced our total long-term liabilities to $0.00, which is a remarkable achievement. One that tangibly reinforces our ambitious commitment to building strategic partnerships, the pursuit of smart growth and expansion plans, introduction of new complementary product lines, and our focus on increasing shareholder value.”
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.
For more information, please visit: GEMXX Corporation
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.
Signed.
/S/ Jay Maull, CEO
GEMXX Corporation
For more information, please contact:
ir@gemxx.com
www.gemxx.com
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