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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.

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Marimed Inc (OTCMKTS:MRMD) Introduces Award-Winning And Proprietary National Cannabis Brand – Betty’s Eddies In Massachusetts

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Marimed Inc (OTCMKTS:MRMD) has introduced its award-winning and proprietary national cannabis brand – Betty’s Eddies in Massachusetts. The Betty’s Eddies fruit chews are available in adult cannabis and medical cannabis programs in Massachusetts in multi-flavor packs such as Seasonal Apple Pie, Betty’s Bedtime, and individual flavor packs. They are vegan and gluten-free and manufactured using organically grown vegetables and fruits.

Betty’s Eddies feature full-spectrum cannabis oil

Betty’s Eddies fruit chews feature full-spectrum cannabis oil. The patients and consumers can choose these fruit chews in both increased and lower dosages that comply with the adult-use and medical use regulations. Marimed produces Betty’s Eddies at its New Bedford based manufacturing facility.

Available at all the dispensaries in MA

After introducing at the medical cannabis program in Middleborough last week, Marimed offers these products at all the licensed adult-use and medical dispensaries in the state. It also offers Betty’s Eddies and other cannabis brands in medical programs in Illinois, Rhode Island, Maryland, and Delaware. Marimed will soon expand these products to adult-use programs in Illinois, and Nevada, and the medical program in Puerto Rico.

Senior Vice President (sales) and Chief Product Officer of Marimed, Ryan Crandall, said the company achieved significant growth in the sale of Betty’s Eddies last year. The company now focuses on expanding these successful products to both the new and existing markets in 2020.

According to recent studies, cannabis-infused products will garner a significant share in the US cannabis market. The sales of cannabis-infused products would reach $12 billion (up 35%) in 2020. Chief Executive Officer of Marimed, Bob Fireman, said the company achieved a significant milestone by expanding Betty’s Eddies to Massachusetts. The company expects to generate significant revenues going forward as it expands these products to several regions this year.

Marimed owns thirteen cannabis licenses in six states in the US. It operates more than 300,000 Sq. Ft. facilities across the US and plans for expansion across the world. The company’s MariMed Hemp division is engaged in the development of hemp-derived CBD products. Marimed also holds a stake of 33.5% in GenCanna Global, which is engaged in the manufacture of CBD isolates and oil.

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Smart Cannabis (OTCMKTS:SCNA) Forays Into Retail Sales Of Hemp And Cannabis To Enhance Growth And Reward Shareholders

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Smart Cannabis (OTCMKTS:SCNA) has forayed into the retail sales of hemp and cannabis to enhance the growth and boost value for the shareholders. It is on the backdrop of the recommendation of its Interim Chief Executive Officer, Mark Cheung, to enter the retail sales business because the company is already into a greenhouse business.

Smart Cannabis acquires Budding Botanicals

Smart Cannabis acquired Budding Botanicals as of October 1, 2019, and merged it with its subsidiary – Next Generation Farming Inc. Budding Botanicals is engaged in the sales of hemp and CBD products online. It is also selling these products through Southern Californian pop-up locations.

Mark said the company is pleased to unveil hemp and CBD retail operations. He further said this new initiative helps the company to enjoy rapid growth in cannabis and improve value for the shareholders going forward.

Builds Type 6 cannabis extraction facility

Next Generation Farming, a subsidiary of Smart Cannabis, entered a pact to construct a type 6 cannabis extraction facility. The new facility is to operate the sub-zero extraction methods. It will also develop software for managing online distribution.

Secures contract for expanding cannabis cultivation

Smart Cannabis has secured a contract for expanding the cultivation of cannabis in Yolo County, California. Its subsidiary – Next Generation Farming has recently revamped eight greenhouses in Yolo County and installed its Smart App. As part of the expansion contract, the company will expand the cultivation to 60,000 Sq. Ft. It will modify the facility to reduce the threat of airborne hemp seeds cross-pollination with the cannabis crops.

Smart Cannabis has previously retrofitted the greenhouse facility (24,000 Sq. Ft.) in Yolo County, California. It also equipped the facility with its Smart app technology to ensure the yield of high-quality cannabis in high volumes all over the year.

Adds Mr. Freitas to its advisory board

Smart Cannabis added Mr. Freitas to its advisory board in April 2019. He is working with its subsidiary – Next Generation Farming, since 2017. Freitas played a critical role in several of the projects. He contributes expertise in the field of construction, scheduling, cost estimation, design, site improvements, structures, and maintenance of buildings.

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The US FDA Supports Tetra Bio Pharma Inc (OTCMKTS:TBPMF) with A Favorable Letter Of Advice To Proceed With The Development Of QIXLEEF

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The US Food and Drug Administration has supported Tetra Bio Pharma Inc (OTCMKTS:TBPMF) with a favorable letter of advice to advance the development of QIXLEEF, which provides relief from uncontrolled pain for adults.

Shows commitment of US FDA

Chief Regulatory Officer and Chief Executive Officer of Tetra Bio, Dr. Guy Chamberland, said the company is excited to receive a favorable letter from advice (LOA) from the US FDA. It shows the commitment of the US FDA to give the nod for this botanical drug to cure chronic pain on achieving positive quality and human clinical data.

The LOA from the US FDA encourages Tetra Bio to advance the development of QIXLEEF to treat chronic pain in patients who have cancer. CEO also said LOA confirms the previous commitment of the FDA to develop and commercialize QIXLEEF to cure non-cancer pain and cancer pain as a second or third line of therapy.

FDA gives in-depth guidance to Tetra Bio

The US FDA gave in-depth guidance to Tetra Bio on January 26, 2017, on advancing QIXLEEF development. Now the recent LOA provides new guidance to Tetra Bio considering the safety and clinical progress of QIXLEEF concerning quality and effectiveness and issues the guidelines for approval to market the drug for non-pain and cancer pain indications.

Commenting on the receipt of LOA from the US FDA, Dr. Guy said the collaboration with FDA is excellent and helps the company to develop prescription drugs complying with laid out requirements for pharmaceutical products.

The demand for pain management is $130 billion

The demand for pain management across the world is expected to reach $130 billion by 2023 from $60 billion in 2016. The pain management drug list comprises medications for chronic back pain, cancer pain, fibromyalgia, neuropathic pain, Migraine, Postoperative Pain, and Arthritic Pain. Dr. Guy said the company is confident of developing QIXLEEF for pains beyond cancer pain. It can be used as a third or second-line therapy to get relief from pain.

Health Canada grants two OTC DINs

Health Canada has granted two over the counter drug identification numbers for Tetra Bio. The company will market the new drugs under the banner TERPACAN by mid-2020. It will also introduce these new products in Europe and the US markets this year.

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