Bemax Inc. Releases Revenue Projections of $2.1Million for full year 2021
ATLANTA, GA / ACCESSWIRE / March 11, 2021 / Bemax Inc. (OTC PINK:BMXC) a growing global distributor of household products, is pleased to provide business operations update, and revenue projections for full year 2021.
The extensive global marketing embarked upon by the company has positioned the company to project revenue increase of over 100% for current quarter compared to same period of last year. The same increase is projected for the fiscal year end of May 31, 2021.
Full Year 2021 - Bemax Inc. revenue outlook is projected to a range of $1.5 Million to $2.1 million with estimated net profit margin in the range of $200,000 to $260,000.
Fiscal Year End May 31, 2021
Total estimated revenue for fiscal year ending May 31, 2021 is projected to be in the range of $150,000 to $200,000. This would be a growth rate of over 100% compared to year ended May 31, 2020.
The following statements are based on Bemax's current expectations for full year 2021. These statements are forward-looking and actual results may differ materially.
- Work to reduce company's shares outstanding will continue throughout 2021through retirement of shares currently own by management, continuous buyback, and work with shareholders to exchange certain percentages of common stock to the company's preferred stock with opportunity to receive soon to be introduce program of profit sharing for shareholders.
- Bemax will introduce new private label of women hygienic sanitary pad and the new private label diaper -Modenna baby Diaper. The new brand of disposable diaper will be available on Walmart.com.
- The company will launch in 2021 one production line for Made-in-America protective face masks.
- Bemax will expand operations with the creation of a new marketing unit focusing on distribution of telecom products through strategic distribution alliances with telecom product manufacturer and suppliers.
- The company will continue to negotiate new competitive pricing with existing Bemax private label manufacturers.
We are pleased with the new interest we've seen this past year and new expansion opportunities for the company that would allow for continuous revenue growth, state TaiwoAimasiko, CEO of Bemax.
About Bemax Inc.
Bemax Inc. exports and distribute private label household products to the global emerging markets. www.bemaxinc.com.
Safe Harbor Statement
This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results or implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company's control. Forward-looking statements speak only as to the date they are made and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
SOURCE: Bemax Inc.