LOS ANGELES, CA--(Marketwired - Jan 26, 2017) - GAWK Inc., (OTC PINK: GAWK) a cloud services company, announced today its posting of a rebroadcast of a call with management this week to discuss Q3 2016 results and 2017 value growth initiatives.
The rebroadcast of the call may be found on our website by clicking here.
In the call, management discussed its year-over-year revenue growth for the quarter of over 300% and a similar gross profit increase.
For the first time, the company achieved positive cash flow on an operating basis.
Also discussed in the call were key 2017 growth initiatives which management believes will accelerate value growth for shareholders:
1. Restructure senior secured debt to preserve cash and allow further reinvestment in products and service development
2. Restructure of short term convertible debt to further reduce unnecessary dilution
3. Continue growth through acquisition
4. Seek traditional, less dilutive financing to sustainably fuel growth
5. Increase gross margin through improved economies of scale
6. Continue innovation and development of disruptive technologies and services that will drive revenue growth
7. Expand marketing to underserved business segments
8. Expand investor awareness to realize greater market value
"We're finally hitting our stride here with accelerating top line growth and achievement of operating cash flow positive status," commented Scott Kettle, CEO. "Shareholders can expect regular updates about out progress on these initiatives and on milestones as we hit them."
For investor inquiries please call 888.754.6190 Ext. 3 or email IR@gawk.com
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.gawk.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 (www.gawk.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.