New York, NY, Oct. 24, 2025 (GLOBE NEWSWIRE) — PhoneX Holdings, Inc. (OTC: PXHI) today announces to its shareholders that the Company has determined that, based on its current understanding of the applicable provisions of Section 1202 of the Internal Revenue Code of 1986, as amended (the “Code”), and subject to the satisfaction of all applicable requirements, the Company may qualify as a “qualified small business” for purposes of the potential exclusion of gain from the sale or exchange of “qualified small business stock” (“QSBS”) under Section 1202 of the Code.
While the Company cannot and does not make any representation, warranty, or guarantee that any stock will ultimately qualify as QSBS or that any shareholder will be eligible for any tax benefits under Section 1202 of the Code; shareholders should consult with their own tax advisors regarding the potential availability of Code Section 1202 benefits in connection with any acquisition, holding, or disposition of the Company’s stock.
THE INFORMATION CONTAINED HEREIN IS BEING PROVIDED SOLELY FOR INFORMATIONAL PURPOSES. IT IS NOT INTENDED TO BE, AND SHOULD NOT BE CONSTRUED AS, LEGAL OR TAX ADVICE.
About PhoneX Holdings, Inc.
PhoneX Holdings, Inc. is a technology company powering the global wholesale trade of pre-owned mobile devices. Its industry-leading SaaS platform helps carriers, manufacturers, and distributors manage inventory, optimize sales, and grow their customer networks. By driving efficiency, transparency, and scale, PhoneX enables its partners to maximize value in the secondary mobile device market.
Contact:
Jayme White
PhoneX Holdings, Inc.
Tel: (336) 408-9637
Email: jayme@phonexinc.com
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