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GemXX Corporation Reports Positive Revenues and Net Income for the Second quarter of the Year

Updated  

Aug-16 13:32 first published at 13:32 PM


Las Vegas, Nevada, August 16, 2022 (BUSINESS WIRE) — GEMXX Corporation (OTC: GEMZ) $GEMZ (“the Company”), a leader in the Ammolite Gemstone Mine to Market Segment, announces positive quarterly revenue results. The Company is highlighting significant accomplishments, laying the groundwork for aggressive growth in the coming year. “We are very pleased with the Company’s performance.” GEMXX Corporation CEO Jay Maull stated. “By signing supply agreements and multi-order deals, we continue to build a solid foundation of recurring revenue.” This is due to the team’s dedication and hard work, as well as the company’s ability to provide the highest quality Ammolite Gems and Jewelry in this sector.” There are 100,884,372 shares issued and outstanding. Account Receivables for the quarter increased to $509,171.00, up from $422,668.00 in the same quarter last year. Net income increased to $416,536.00 from $184,225.00 in the same quarter last year. Current liabilities have risen to $894,505.00, up from $232,823 in the same quarter last year. Total Long-Term liabilities have been reduced to $0.00 from $237,867.00 the previous year. The company’s total assets have increased by $1,396,979 year on year to $19,235,638.00. “With the world continuing to reopen, GEMXX is seeing an increase in sales orders from a number of sectors that were shut down as a result of the pandemic.” commented Jay Maull, CEO; the Company and management team are in ongoing discussions with a number of significant long-term clients and expect the revenues of the company to continue to increase quarter over quarter as tourism continues to reopen in key markets. ABOUT GEMXX CORPORATION GEMXX Corporation is a publicly traded, mine-to-market gemstone and jewelry producer with global reach that owns mining resources, production facilities, and operating assets. GEMXX controls each stage of its production including 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 Visit www.gemxx.com for more information. 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. For more information, press only: GEMXX CorporationPR CONTACT:  Jay [email protected] www.gemxx.com

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