Miami, FL – June 17, 2019 (EmergingGrowth.com NewsWire) — EmergingGrowth.com, a leading independent small cap media portal with an extensive history of providing unparalleled content for the Emerging Growth markets and companies, reports on GEX Management, Inc.(OTC Pink: GXXM).
GEX Management, Inc. provides business management, professional employer organization, and staffing solutions for small to midsize businesses. It primarily provides payroll processing, human resources (HR), staffing and general business consulting services. The company’s payroll processing services include tax filling and remittance, and quarterly payroll tax reporting; and staffing services comprise interview vetting, background check, drug screening, onboarding and termination guidance, and company operation troubleshooting.
Average daily volume for GXXM 105 million shares. Today’s news has caused the volume to increase to over 395 million shares in the morning hours of trading.
GEX Management, Inc. Press Release:
Dallas, Texas, June 17, 2019 (GLOBE NEWSWIRE) — GEX Management Inc (OTC: GXXM, “GEXM”), a Dallas based management and professional services company, today announced its continued strategic initiatives focused on building a premium staffing and consulting business line complementary to its organic and inorganic growth initiatives.
Sri Vanamali, the Executive Director of GEX Management Inc. said, “As mentioned in our past announcements, GEX is in the process of restructuring and reorganizing its operational and capital infrastructure in a way that is primed to help the company build a solid foundation for growth in 2019 and beyond. “ As part of this renewed strategy, GEX Management has set strategic goals to expand further into areas of higher margin and growth business categories particularly in the space of IT and Management Consulting as well as identify synergistic opportunities in healthcare sector to deliver significant cost rationalization, benefits and integrated staffing solutions to clients and customers alike.
In alignment with this strategy, GEX Management has partnered as a Preferred IT Solutions Supplier to one of the premier Managed Service Providers (MSPs) to Fortune 100 Companies in the Enterprise Technology Consulting and Staffing solutions space. This has resulted in a significant business development pipeline that is projected to generate solid revenue and growth opportunities going forward. Additionally, GEX executed a strategic staffing agreement with a leading Ohio based Healthcare group to deliver staffing, HR management, payroll processing and benefit administration services to the client’s healthcare and clinical practice centers in the mid-west region. Management expects these and other growth opportunities to help the firm achieve strong revenue growth and help move towards higher profitability profiles then in the past by targeting higher margin, lower cost business models and relying on less expensive debt instruments to help reduce the burden across the firm’s capital structure while maximizing efficient use of operating capital.
“The management is committed to continue focusing on improving the balance sheet in the near term while also identifying sustainable long-term growth opportunities through strategic partnerships with established MSPs. Based on efforts related to these partnerships, we have already won 2 new consulting contracts – one with a large Pennsylvania based Investment Management firm and another with a Florida based, global technology firm focused on the travel industry; we expect more contracts and placements to follow over the coming months based on our multi-tiered sales and recruiting strategy as we continue to place quality resources towards these long term opportunities”, said Sri Vanamali.
“These organic growth initiatives are expected to bear fruit over the next few months and begin gaining traction starting Q4 2019 and beyond, as we place more consultants and build towards the strength of our strategic relationships. Additionally, our Corporate Strategy team has developed a structured process to identify, review and close potential synergistic acquisition targets that will be complementary to the GEX Management Business Ecosystem. I am very excited to work with our investors, business partners and service providers to continue the positive momentum despite past challenges and am confident of GEX achieving great long term success with this renewed strategy. We will make further announcements to our investors and shareholders as we make progress with these initiatives”.
About GEX Management
GEX Management, Inc. Is a Professional Services Company providing consulting, staffing and comprehensive managed service solutions to clients in a variety of industries. GEX Management services include IT and Strategy Consulting, Staffing, HR, Payroll, Risk & Compliance, and Executive Consulting, and provides progressive and complete solutions for employee management and operational needs.
Information on Forward Looking Statements
The statements contained herein that are not historical facts are forward-looking statements within the meaning of the federal securities laws (Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934). You can identify such forward-looking statements by the words “expects,” “intends,” “plans,” “projects,” “believes,” “estimates,” “likely,” “possibly,” “probably,” “goal,” “opportunity,” “objective,” “target,” “assume,” “outlook,” “guidance,” “predicts,” “appears,” “indicator” and similar expressions. Forward-looking statements involve a number of risks and uncertainties. In the normal course of business, GEX Management, Inc., in an effort to help keep our stockholders and the public informed about our operations, may from time to time issue such forward-looking statements, either orally or in writing. Generally, these statements relate to business plans or strategies, projected or anticipated benefits or other consequences of such plans or strategies, or projections involving anticipated revenues, earnings, profits, pricing, operating expenses or other aspects of operating results. We base the forward-looking statements on our expectations, estimates, and projections at the time such statements are made. These statements are not guarantees of future performance and involve risks and uncertainties that we cannot predict. In addition, we have based many of these forward-looking statements on assumptions about future events that may prove to be inaccurate. The actual results of the future events described in such forward-looking statements could differ materially from those stated in such forward-looking statements.
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