GXXM 最新10-K变化

相对上期新增的文字 · 来源: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 …

相对上期新增的文字 · 来源: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…

相对上期删除的文字 · 来源: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…