GAWK, Inc. Files Form 10K, Reports Company Revenue Up 984%
Los Angeles, CA…May 25, 2016 – GAWK Inc. (OTC PINK: GAWK) today announced that on May 24, 2016, the Company filed its Annual Report on Form 10-K for the year ended January 31, 2016 with the U.S. Securities and Exchange Commission. In the filing, the Company reported that the Company’s revenue for the year was $1,652,156, as compared to $167,806 the previous year, an increase of 984%. Gross profit rose by 302%, to $506,878, from $167,806 in 2015. General & Administration expenses dropped from $2,042,906 in 2015, to $1,984,451, a decrease of 3%. Operating expenses were $4,137,870 for the year ended January 31 2016, compared to $5,650,579 for the year ended January 31, 2015, a decrease of $1,512,709, or 26%, and research and development costs decreased to $2,500 from $605,142. GAWK’s total assets increased to $7,249,750 from $3,297,640, or 219%.
Kettle commented that the increase in revenue was due to the Company’s growth as a result of the acquisition of two businesses, and organic growth. “Gawk has gone through a significant transformation and has expanded its business customer base and added a significant number of network facilities and points of presence expanding its geographic reach.” Kettle said. “Through these acquisitions, we acquired advanced systems and infrastructure, augmented 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.
About GAWK, Inc.
Gawk, Inc. offers a suite of cloud communications, cloud connectivity, cloud computing, and managed cloud-based applications solutions to small, medium, and large businesses; and offers domestic and international voice services to communications carriers worldwide. It offers a suite of advanced data center and cloud-based services, including fault tolerant, high availability cloud servers, which comprise platform as a service, infrastructure as a service, and a content delivery network; managed network services that converge voice and data applications, structured cabling, wireless, and security services, as well as include Internet access via Ethernet or fiber at speeds ranging from 10 Mbps to 10 Gbps; and data center solutions, including cloud services, colocation services, and business continuity services, such as storage and security. www.gawkinc.com
All statements in this release that are not strictly historical facts are “forward-looking statements.” Such forward-looking statements are based on GAWK’s current assumptions, beliefs and expectations, and involve risks, uncertainties and other factors that may cause GAWK’s actual results to be materially different from any results expressed or implied by such forward-looking statements. Some can be identified by the use of words such as “expect,” “plan,” “possibility,” “offer,” “if,” “negotiate,” “when,” “believe,” “will,” “estimate,” “continue,” and similar expressions. Risks, uncertainties, and other factors that could cause or contribute to such differences include, but are not limited to: ongoing and future intellectual property enforcement actions; the ability to successfully litigate or settle claims of patent infringement; GAWK’s ability to obtain necessary financing, generate sufficient cash flow, and maintain appropriate indebtedness; and the increasing development of market competition in the area of telecommunications. These factors and others are described in more detail in GAWK’s public filings with the Securities and Exchange Commission, including the risks discussed in the “Risk Factors” section in GAWK’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Copies of these reports can be found on GAWK’s website (http://gawkinc.com) under the heading “Investor Relations.” GAWK is providing this information as of the date of this release and, except as required by law, does not undertake any obligation to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
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