GEMXX Corporation Provides Corporate Update
Las Vegas, Nevada--(Newsfile Corp. - May 11, 2021) - GEMXX Corporation, f/k/a BrainyBrawn, Inc. (OTC PINK: BRNWD) $BRNW States achievements to date, and aggressive milestones to upgrade to OTC Markets Pink Current Status.
"The Company is pleased to announce significant achievements for the sole benefit of the Company and the shareholders" stated Jay Maull, CEO of GEMXX Corporation.
The Company is highlighting four significant achievements.
First, the OTCIQ application has been received and accepted. This achievement is essential as the Company officers are now able to post, update and disclose reports onto OTC Markets and the Company's profile page. This also allows the Company to release information from the transfer agent regarding Float, Outstanding, and Authorized shares on a more frequent and automated basis.
Second, a PCOAB auditor has been retained. The auditor has audited the trailing quarters of the Company and our financials are currently in "Review" as you read this press release. This is exceedingly rare and incredibly positive that the Company, being an alternative reporting company, would go through the process of auditing its financials. The activity is not necessary for basic disclosure but is a pre-requisite for future endeavors. One aspiration of the Company is an "up list" for which audited financials are required.
Third, a CPA has been retained for general accounting and specific ASC and FASB standards applicable to our SEC/industry accounting needs. The CPA is knowledgeable of mergers and acquisitions, share structure and optimizing the best usage of funds. They can act as a guide for our structuring or restructuring needs. By restructure, the Company means that as the Company grows it will restructure assets, liabilities to optimize divisions.
Fourth, the Company's business strategy is simple, GROWTH. In order to meet current wholesale demands GEMXX must grow, and due to this demand, our business plan has expanded to encompass a more aggressive growth strategy focused on the profitable direct to consumer revenue model of distribution and sales. Management's strategy of growth through acquisitions of other mining companies and new mining opportunities will bolster current revenue streams and offer more and new product lines of gemstones and related products such as gold and silver. Management is always looking for bulk purchasing opportunities for raw materials that we currently use in order to lower the cost of goods sold and increase profits.
Due to acceptance of our company by OTCIQ, having retained an PCOAB Auditor, and having retained our CPA, the Company has decided to be aggressive in expansion and growth. The Company is corporately in good standing, and the financial and business disclosures are in the process of being submitted, pending approval, to the OTC Markets.
ABOUT GEMXX CORPORATION
GEMXX is vertically integrated from gemstone and mineral extraction through worldwide wholesale and retail jewelry distribution. GEMXX controls the entire value-chain of activities from mining rough Ammolite to Ammolite gem production to Ammolite jewelry manufacturing to delivering a finished Ammolite jewelry product to wholesalers and consumers globally. Controlling the entire value-chain ensures maximum control of the Company's product, product development, quality control and profits. GEMXX has over 160 years of combined Ammolite management, operations, and sales experience. Our in-house experience covers every aspect of the Ammolite business from source to sale and will ensure the Company takes advantage of opportunities and avoids industry pitfalls.
SAFE HARBOR STATEMENT
This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company's control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
/S/ Ms. K Halvorson
FOR MORE INFORMATION, PLEASE CONTACT:
For more information, press only:
PR CONTACT: Kim Halvorson
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/83591