TX Holdings Reports Compliance with OTC’s Trading Requirements
ASHLAND, Ky., Aug. 25, 2021 (GLOBE NEWSWIRE) -- TX Holdings, Inc. (OTC Markets OTCIQ: TXHG), a supplier of mining and rail products to the U.S. coal mining industry, today announced compliance with the OTC Markets Requirements and the ability to continue to trade in those markets. As part of the OTC compliance, we have posted in their website the financial results for the fiscal year 2020. For the 2020 fiscal year, the company reported annual revenue of $2,335,590, the Company’s Gross profit for the period was $451,855 and had a Net income of $4,128.
Mr. Shrewsbury, the company’s CEO and Chairman, stated that “We are pleased to have met the OTCIQ Market compliance requirements and, be in a position to continue to submit all documentation to meet future requirements, which will enable TX Holdings, Inc to continue to trade on the OTCIQ Market, where the stockholders will continue to see the bid and ask prices”. The Company’s anticipate a filing of the annual fiscal year 2021 by October 31, 2021.
Mr. Shrewsbury has also noted that he was favorably impressed that TX Holdings’ stock traded by approximately 30% of the float on yesterday’s (August, 24th) trading.
Forward-Looking and Cautionary Statements
Except for the historical information and discussions contained herein, statements contained in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (PSLRA) and other applicable law. When used, the words “believe”, “anticipate”, “estimate”, “project”, “should”, “expect,” “plan”, “assume” and similar expressions that do not relate solely to historical matters identify forward-looking statements. Forward-looking statements are based on the company’s current assumptions regarding future business and financial performance. Forward-looking statements concerning 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 upon indebtedness furnished or guaranteed by our CEO; risks related to substantial indebtedness; our ability to implement our business strategy; our financial strategy; a downturn in economic environment; our failure to meet growth and productivity objectives; a failure of our innovation initiatives; risks from investing in growth opportunities; fluctuations in financial results and purchases; the impact of local legal, economic, political and health conditions; adverse effects from environmental matters and tax matters; ineffective internal controls; our use of accounting estimates; our ability to attract and retain key personnel and our reliance on critical 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 reliance on third party distribution channels; Securities and Exchange Commission regulations related to trading in “penny stocks;” the continued availability of certain financing provided by our CEO; and other risks, uncertainties and factors discussed in our Quarterly Reports on Form10-Q, our Annual Reports on Form 10-K, and in our other filings with the SEC or in materials incorporated therein by reference. Any forward-looking statement in this 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 above, 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 to companies that issue penny stocks. Because we may from time to time be considered to be an issuer of penny stock, the safe harbor for forward looking statements under the PSLRA may not be apply to us at certain times.
Contact: William “Buck” Shrewsbury Chairman and CEO TX Holdings, Inc. (606) 928-1131