OTCPK:GTXO - Post by User
Post by
AveragePennyon Aug 18, 2021 3:06pm
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Post# 33724701
GTXO Reports Second Quarter 2021 Financial Results
GTXO Reports Second Quarter 2021 Financial Resultshttps://www.globenewswire.com/news-release/2021/08/18/2282987/0/en/GTX-Corp-Reports-Second-Quarter-2021-Financial-Results-and-Corporate-Summary-Update.html Second Quarter Financial Highlights
- Overall Revenue decreased 31% over 2020 comparable period.
- Cash on Hand increased 72% or $180k over 2020 comparable period.
- Wages & Benefits decreased 26% over 2020 comparable period.
- COGS decreased 32% from 2020 comparable period.
- Current Debt & Liabilities reduced by $462k or 13% over 2020 comparable period.
- Debt reduced by $366k or 33% over 2020 comparable period.
- Stockholders’ deficit decreased $646k or 22% from 2020 comparable period.
- Did not take on any new debt.
Second Quarter 2021 Business Highlights and Developments
- Significant development progress made on 4G GPS SmartSole module.
- Pre-ordered thousands of components in preparation for SmartSole production.
- Increased our customer base 286% over 2020 comparable period.
- Increased our Alexa Google Search Engine Rankings by approximately 50%.
- Signed 3 new collaboration agreements.
- Increased marketing budget for B2B outreach.