TX Holdings Inc (OTCMKTS:TXHG) is well known for its work as a supplier of rail products and mining instruments to the coal mining industry in the United States. Yesterday the company was in the news after it announced that it was compliant with the rules of the OTC Markets and the TX Holdings stock was going to continue to trade on the exchange.
That was a major announcement from the company and came as a significant boost to its stock as well. Investors flocked to the stock in droves yesterday and it ended the day with gains of as much as 41%.
The company noted that it posted its results for the fiscal year of 2020 to the OTC website and also provided some of the details of its financial results. TX Holdings noted that in the financial year for 2020 it managed to generate revenues of as much as $2,335,590 and the gross profits for the same period came in at $451,855.
The net income for the 2020 financial year stood at $4128. The TX Holdings stock displayed strong momentum yesterday following the announcement and investors are expected to watch closely if the stock can continue to display the same momentum today.