Dewmar International BMC, Inc. (DEWM) Completes Filing of Financials at OTCMarkets.com
All Liabilities Significantly Reduced by $2,773,111
New York, NY - 
(NewMediaWire) - December 3, 2019 - Dewmar International BMC, Inc. (OTCPINK:
DEWM) announced that
it is has completed the filing of its financial statements at OTCMarkets.com.
During the quarter for the period ended September 30, 2019, the company
reported total liabilities of $278,057 as compared to liabilities of $3,051,168
for the same period in the previous year. The significant reduction in
liabilities was a key goal for the new management team as it would have been
difficult to execute the new management team’s business plan while it was
continuing to pay off old debts. During the same period ended September 30, 2019,
the shareholder’s deficit was reported at a deficit of $228,242 as compared to
a deficit of $2,980,133 for the same period in the previous year.
Donald Hunter, Chairman and Chief Executive Officer of Dewmar, commented, “The
task of completing the financials was not an easy one but we are glad we have
been able to complete the filing of these financials as quickly as possible.
Our next very near-term goal is to improve the health of the balance sheet by
improving the company’s cash position. We have already begun working on that
goal and we are making progress.”
Mr. Hunter continued, “When I took over, I assessed the company’s products
and financial statements and knew there was much work to do. We immediately
disassociated the company with Lean and as we announced previously, our focus
will be on Kush Cakes and hemp products going forward. I recently met with one
of the largest culinary arts schools in the world to discuss product
formulations. Dewmar is working on formalizing a relationship with that institution.”
Mr. Hunter concluded by saying, “We have engaged counsel to provide a
current information notice to OTC Markets and if the information and the
current information letter that we submit to OTC Markets is satisfactory, we
expect to be able to achieve “current information” status over the next 1-2
weeks. I would like to personally thank shareholders for their patience and
their continued patience during this transition period. Our goal remains products that we believe can
achieve $25,000,000 in revenue.”
Up until December
20, 2018, most hemp products on shelves in the United States were imported into
the United States. However, the 2018 Farm Bill legalized the cultivation of
industrial hemp and removed it from the list of controlled substances.
Industrial hemp contains all of the
cannabinoids in medical marijuana but unlike marijuana, industrial hemp is low
in THC (tetrahydrocannabinol – the psychoactive component in marijuana). Some
strains of industrial hemp are also rich in CBD (cannabidiol), the cannabinoid
which has been featured in hundreds of news stories for its therapeutic
potential to potentially treat serious medical ailments such as epilepsy,
cancer, pain, arthritis, and many others.
Industrial hemp’s uses are well beyond the
therapeutic potential of CBD. The hemp seed and the oil derived from the seed
is an excellent source of protein and essential fatty acids. Three tablespoons
of hemp seeds contain about 10 grams of protein. The protein from the hemp
plant is a more complete protein than proteins found in red meat, chicken and
fish. Hemp seeds are sold in national health food and supplements retailers.
The stalk of the hemp plant contains two types of fiber. The outer fiber can be
processed into long strands which can then be used for textile manufacturing.
The inner core which resembles wood can be used for animal bedding. The hemp
stalk can also be used as a key component in the manufacturing of paper.
About Dewmar International BMC, Inc.
Dewmar International BMC, Inc. is a certified service-disabled Veteran owned
business concern, new product development, manufacturing and brand management
company. Established in 2003, one of Dewmar’s primary business strategies going
forward is to market and license the Kush
Cakes brand. Additionally, Dewmar is the
owner of MarijuanaEmail.com, a
user-friendly “retailer to consumer” information sharing platform that connects
cannabis dispensaries to interested consumers. In 2014, Dewmar founded
the United States Hemp
Corporation, a Nevada based hemp incubator which partners with
consumer brands to develop functional food and supplement products, and then
help them expand their distribution channels through our existing relationships
worldwide.
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Notice Regarding Forward-Looking
Statements
This news release contains
"forward-looking statements" as that term is defined in Section 27A
of the United States Securities Act of 1933, as amended and Section 21E of the
Securities Exchange Act of 1934, as amended. Statements in this press release,
which are not purely historical, are forward-looking statements and include any
statements regarding beliefs, plans, expectations or intentions regarding the
future. Such forward-looking statements include, among other things, the
potential benefits of the cannabis plant, the commercialization of the cannabis
plant, annual retail value of hemp products sold in the U.S., growth of
industrial hemp product industry, potential uses of cannabinoids for treatment
of various illnesses and diseases, product development and business strategy.
Actual results could differ from those projected in any forward-looking
statements due to numerous factors. Such factors include, among others, the
inherent uncertainties associated with new projects and development stage
companies. These forward-looking statements are made as of the date of this
news release, and we assume no obligation to update the forward-looking statements,
or to update the reasons why actual results could differ from those projected
in the forward-looking statements. Although we believe that any beliefs, plans,
expectations and intentions contained in this press release are reasonable,
there can be no assurance that any such beliefs, plans, expectations or
intentions will prove to be accurate. Investors should consult all of the
information set forth herein and should also refer to the risk factors
disclosure outlined in our annual report and for the most recent fiscal year,
our quarterly reports, and other periodic reports filed from time-to-time with OTCMarkets.com
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