Gawk Inc. (GAWK)

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sharky - $GAWK REVENUE JUMPED 136%

GAWK, Inc. Files Form 10Q, Reports Company Revenue Jumped 136%

Marketwired September 22, 2016Comment
LOS ANGELES, CA--(Marketwired - Sep 22, 2016) - GAWK, Inc. ( OTC PINK : GAWK ) announced today that the Company filed its Quarterly Report on Form 10-Q for the period ended July 31, 2016. For the three months ended July 31, 2016, revenues surged to $1,319,429, or 136%, from $558,079 for the same period in 2015. Gross profit rose 133%, to $385,599, from $165,450.

For the six months ended July 31, 2016, revenue leaped 351%, to $2,780,082, from $616,661 for the same six months of 2015, and gross profit for the first six months of 2016 escalated to $791, 219, or 253%, over the previous year's $224,032. Current assets are up 14%, or $890,604, compared to $783,665, in 2015.

Scott Kettle, CEO of GAWK, said, "The increase in revenue is primarily related to the business combination of Connexum during the past year and XTELUS during the three months ended July 31, 2016, proving that our strategy of organic growth and acquiring competitors who have market share and complimentary assets is correct. Through acquisitions, we acquire advanced systems and infrastructure, enlarge our management team and employee base with talented, experienced, well-trained professionals, while continuing to provide a strong platform for further acquisitions."

GAWK is pursuing a three-tiered growth strategy: developing specialized solutions for key vertical markets, targeting cloud services companies for acquisition, and accelerating organic growth.