GXXM — what changed in the latest 10-K
A section-by-section comparison of GXXM's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-K · 2024-04-25 vs the prior 10-K · 2023-04-17
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| Business | Text added/removed | 0 | 0 | ~21 | 49 |
| Risk factors | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Legal proceedings | Text added/removed | +6 | 0 | ~1 | 0 |
| MD&A | Text added/removed | +16 | −25 | ~2 | 17 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Market risk (Item 7A)
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
Legal proceedings
Text added vs the prior filing · source: 10-K · 2024-04-25
As discussed in NOTE 8 to the financial statements, the Company was involved in the following proceedings:
On September 13, 2019, a Judgment by Confession was entered in New York against the Company for $195,250 due to EMA Financial, LLC (“EMA”), a former convertible debtholder, for then-outstanding convertible notes in default, accrued interest and fees. On April 11, 2022, the court awarded a second jud…
On October 16, 2018, C6 Capital, LLC (“C6”) obtained a Confession of Judgment for $534,655 against the Company. in Ontario County Supreme Court in the State of New York (Case No. 120802-2018 entitled C6 CAPITAL LLC - v. - GEX MANAGEMENT INC et al) related to previous merchant cash advance arrangemen…
On March 22, 2019, Business Merchant Funding (“BMF”) obtained a Confession of Judgment for $151,191 against the Company. in Ontario County Supreme Court in the State of New York (Case No. 123479-2019 entitled BUSINESS MERCHANT FUNDING v. GEX MANAGEMENT INC et al) related to previous merchant cash ad…
On October 9, 2018, EIN Cap., Inc. (“EIN”) obtained two Confessions of Judgment each for $471,591, totaling $943,182, against the Company. in Erie County Supreme Court in the State of New York (Case Nos. 815900-2018 and 815919-2018 each entitled EIN CAP, INC - v. - GEX MANAGEMENT INC/GEX MANAGEMENT …
MD&A
Text added vs the prior filing · source: 10-K · 2024-04-25
GEX enters into contracts with its clients for management consulting and staffing services. GEX’s contract stipulates the rate and price charged to each client. GEX’s contracts for these services are generally cancellable at any time by either party with 30-days’ written notice. GEX fulfills its per…
GEX Management recognizes revenue for its management consulting services in accordance with ASC 606 - Revenue from Contracts with Customers. The Company recognizes revenue under ASC 606, using the following five-step model, which requires that the Company: (1) identify a contract with the customer, …
Results of Operations for the Year Ended December 31, 2023 Compared to the Year Ended December 31, 2022
In 2023, the Company recognized $2,095,545 of revenue, as compared to $2,338,979 in 2022, for a decrease of $243,434 or 10%. The decrease in revenue is due to fluctuations as client needs changed.
In 2023, costs of revenues increased to $1,366,674, as compared to $1,234,243 in 2022, for an increase of $132,431 or 11%. This increase in cost of revenue impacted the company’s gross margin, which decreased from 47% in fiscal year 2022 to 35% in fiscal year 2023. The increase in cost of revenue wa…
Text removed vs the prior filing · source: 10-K · 2023-04-17
GEX Management recognizes revenue for its management consulting services in accordance with ASC 606 - Revenue from Contracts with Customers.
In summary, GEX Management recognizes revenue for its management consulting services in accordance with ASC 606, based on the transfer of control of services to the client and the expected consideration to be collected. Revenue is recognized over the period during which the services are provided and…
All employees are completely vetted by the company to ensure their employment terms are in adherence to all applicable state. federal and immigration laws. Additionally, GEX Management carries professional liability and fidelity/crime insurance to protect against risks involving working at third par…
Results of Operations for the Year Ended December 31, 2022 Compared to the Year Ended December 31, 2021
During fiscal year 2022, GEX Management, Inc. achieved significant revenue growth, with total revenue increasing from $1,301,949 in fiscal year 2021 to $2,270,535 in 2022, representing a year-over-year growth rate of approximately 74%. This growth was driven by several factors, including an expandin…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice