ASHLAND, Ky., Aug 25, 2021 (GLOBE NEWSWIRE) – TX Holdings, Inc. (OTC Markets OTCIQ: TXHG), a supplier of mining and rail products to the US coal industry, today announced its compliance with the OTC markets Requirements and ability to continue trading in these markets. As part of OTC compliance, we have posted fiscal 2020 financial results on their website. For fiscal 2020, the company reported annual revenue of $ 2,335,590, gross profit of the company for the period was $ 451,855 and had net income of $ 4,128.
Mr. Shrewsbury, CEO and President of the Company, said: “We are delighted to have met the OTCIQ market compliance requirements and to be able to continue to submit all documentation to meet future requirements, which will allow TX Holdings, Inc. to continue trading on the OTCIQ market, where shareholders will continue to see bid and ask prices ”. The Company expects a filing for the 2021 annual fiscal year by October 31, 2021.
Mr Shrewsbury also noted that he was favorably impressed that shares of TX Holdings were trading at around 30% of the free float yesterday (August 24e) trade.
Forward-looking statements and cautions
With the exception of historical information and discussions contained herein, the statements contained in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (PSLRA) and other applicable laws. When used, the words “believe”, “anticipate”, “estimate”, “project”, “should”, “expect”, “plan”, “assume” and similar expressions which do not relate not only to historical questions identify staring statements. Forward-looking statements are based on the company’s current assumptions regarding future business and financial performance. Forward-looking statements regarding future plans or results are necessarily only estimates and actual results could differ materially from expectations. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including the following: reliance on debt provided or guaranteed by our CEO; risks associated with significant indebtedness; our ability to implement our business strategy; our financial strategy; a deterioration of the economic environment; our inability to meet growth and productivity targets; a failure of our innovation initiatives; risks associated with investing in growth opportunities; fluctuations in financial results and purchases; the impact of local legal, economic, political and health conditions; the negative effects of environmental and fiscal issues; ineffective internal controls; our use of accounting estimates; our ability to attract and retain key personnel and our reliance on essential skills; impact of relationships with critical suppliers; currency fluctuations and customer financing risks; the impact of changes in market liquidity conditions and customer credit risk on receivables; our dependence on third-party distribution channels; Regulations of the Securities and Exchange Commission relating to the trading of “penny stocks”; the continued availability of certain funding provided by our CEO; and other risks, uncertainties and factors discussed in our Quarterly Reports on Form 10-Q, our Annual Reports on Form 10-K and in our other documents filed with the SEC or in the documents incorporated by reference therein. Any forward-looking statement in this press release speaks only as of the date on which it is made. We assume no obligation to update or revise any forward-looking statement. Notwithstanding the foregoing, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, expressly state that the safe harbor for forward-looking statements does not apply. not to companies that issue penny stocks. Since we may from time to time be considered a penny stock issuer, the safe harbor for forward-looking statements under the PSLRA may not apply to us at certain times.