GEMXX Corporation (OTCMKTS:GEMZ) Stock Falls After Earnings Update

On Tuesday, the management of GEMXX Corporation (OTCMKTS:GEMZ) provided an update to its shareholders following the announcement of its financial results. The management decided to highlight some of the major achievements that that company had managed to accomplish that had helped in solidifying its foundation.

Trading Data

On Tuesday, GEMZ stock ended flat at $0.0540 with more than 100 shares, compared to volume of 939 shares. The stock moved within a range of $0.0540 – 0.0540 after opening trade at $0.0540.

GEMXX Corporation Posts Positive Annual Revenues and Updates Shareholders on Financial Results

That strong foundation is also expected to be a launch pad for the coming year. The management noted that over the past year GEMXX had performed well and looked forward to more of the same next year. Jay Maull, the company’s Chief Executive Officer, noted that the management was pleased with the progress and the company’s achievement of having posted positive net revenues for the past year.

He went on to note that despite the various challenges in the domestic market and globally, GEMXX had managed to work through those and hence, the company had a healthy future ahead. In the quarter that ended on March 31, 2023, the company’s account receivables went up to as much as $905,109 and that reflected a significant rise from the $360,254 that had been posted in the prior year period. The net income also went up to $218,471 from only $76,224 in the prior year period.