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Dewmar International BMC Inc (OTCMKTS:DEWM) Reports 45% Growth in Year-Over-Year Revenue

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Dewmar International BMC Inc (OTCMKTS:DEWM) has announced achieving a revenue growth of 45.24% year-over-year for period ended December 31, 2017 in comparison to the period ended December 31, 2016.

For the financial year ended December 31, 2017, the company recorded revenues amounting to $1,151,838, which represent 42% of the gross profit. This is compared to $630,800 in revenues, which represent 36% of the gross profit for the period ended December 31, 2016.

In the second quarter of financial year 2017, the company recorded a one-time six-figure expense that is related to the process of application of medical marijuana cultivation licensure in the state of Louisiana. In the same period, Dewmar also recorded a one-time six-figure expense attached to the re-launch of Willie’s Duck Diner.

Without the two major expenses, the company could have yielded significant future earnings. The company would have been more profitable during the quarter.

In fact, Willie’s Duck Diner earned the company annual revenues amounting to $342,287 in just four months of being in operations with its Grand Opening happening on September 7, 2017.

The company’s balance sheet rose to $4,738,111 in total assets. Additionally, notes receivables amounted to $3,316,354.

Dewmar recored reduced sales from its Lean Slow Motion Potion, popular branded Kush Cakes and hemp infused brownies. Much of the orders came from wholesalers in smoke shop and convenience store distribution channels.

In his comments, Dewmar International CEO Dr. Marco Moran said that the company’s increased year-over-year revenue is a clear reflection of the strong consumer brand portfolio, the company’s strong ability to monetize the brand equity established by Willie’s Duck Diner and the introduction as well as expansion of Kush Cakes. He adds that they have successfully managed to establish the company as a leading tourist destination in the entire Southern U.S.

He added that they are excited and optimistic of how 2018 has picked up as well as the projects that are building on the impressive results and success that the company reported in increasing its year-over-year revenues in 2017. Dr. Moran indicated that they don’t have any major plans for major revenue expenditures in 2018.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of MMJReporter.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

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