DALLAS, TX--(Marketwired - Apr 3, 2017) - Dig-it Underground, Inc. (OTC PINK: DIGX) announces today that the Company has filed its December 31, 2016 year-end report, which reflects profitability and record annual revenue for the Company of over $1.7 million.
Mr. Chernyakhovsky, President of Dig-it Underground, Inc., said that the Company's net profit of $246,000 represents a profit margin of 14%. The profit margin would have exceeded 25%; however, the Company made significant capital investments in equipment in the past fiscal year and also significantly reduced the Company's outstanding debt, all in an effort to strengthen the Company and its financial condition.
Fiscal year 2017 has had a strong start financially for the company and continued growth is anticipated. Our management continues to seek out suitable acquisitions in the chiropractic arena within the Dallas Fort Worth Metroplex. Mr. Chernyakhovsky added that "Updates will follow as the Company continues to evolve into a bigger and bigger presence in The Dallas/Fort Worth Metroplex."
ABOUT DIGX: Expressions Chiropractic & Rehab, our Wholly Owned Subsidiary, currently has three locations in the Dallas/Fort Worth, Texas Metroplex. For over 10 years, Expressions has provided Chiropractic, Rehab, and other Complementary and Alternative Medicine (CAM) services to our patients and service area. Expressions is currently group credentialed with over 487 Insurance Plans, allowing instant access to patients, and the ability to expand the Company's operations to new locations with minimal additional expenditures towards Insurance Claims cost. CAM is an estimated $33 Billion per year segment of the Health Care Industry and is used by 83 Million American adults annually. The demand for natural health care services is growing rapidly, as consumers become increasingly interested and educated in disease prevention and health maintenance. Chiropractic is recognized by Federal and State Governments as a viable alternative to traditional health care services, and, as such, is accepted for reimbursement by government-sponsored insurance programs, most third-party payers and managed care plans.
Forward Looking Statements: Statements in this document contain certain forward-looking Securities Exchange Act of 1934, as amended. These statements are based on many assumptions and estimates and are not guarantees of future performance. These statements may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Dig-it Underground, Inc. to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Dig-it Underground, Inc. assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Our actual results may differ materially from the results anticipated in these forward-looking statements due to a variety of factors. There may be other factors not mentioned above that may cause actual results to differ materially from those projected in any forward-looking statement. We assume no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by applicable securities laws.