Health and safety wearable GPS solutions company GTX Corp (OTCMKTS:GTXO), which offers products for asset tracking as well as for human purposes, came into considerable focus among investors yesterday despite there being no news.
The stock rallied strongly as investors flocked to it and ended the day with gains of as much as 21%. While the gains are expected to bring the stock into focus among investors it is also necessary to remember that there was no new development regarding the company last week. In this situation, investors could take a look at the company’s performance in the second quarter, the results of which were announced on August 18.
Second Quarter 2021 Financial Results Review
In the second fiscal quarter that ended on June 30, 2021, GTX Corp actually suffered a drop in revenues by as much as 31% year on year. However, on the other hand, it should be noted that the cash balance went up by as much as $180,000 from the prior year period. That rise in cash balance reflected a year on year rise of as much as 72%. In this context, it is also necessary to point out that the wages and benefits paid out by GTX Corp dropped by as much as 26% year on year.