XG Technology Inc (XGTI)

[cashcow3]

Roger Branton, CFO of xG Technology, said, "We are pleased to note that xG realized record quarterly revenue in Q1 2016, of which two months of revenue is attributable to IMT as the acquisition closed on January 29, 2016. We expect the strong revenue achieved in Q1 to continue in the Q2 period.

The cost reduction initiatives we began during Q1 2016 (which were announced after the close of the quarter) have further reduced xG's overall monthly operating expenses to approximately $500,000 on the xMax brand. This has strengthened xG's financial foundation and ability to profitably pursue new business opportunities and initiatives going forward."

=> concusion ER isn't so bad...