Bemax Inc. Releases Revenue Projections of $2.1Million for full year 2021

Rhea-AI Summary

Bemax Inc. (OTC PINK:BMXC) has announced a significant business operations update highlighting a projected revenue increase of over 100% for Q1 2021 compared to the same period last year and for the fiscal year ending May 31, 2021. The revenue forecast for 2021 stands between $1.5 million and $2.1 million, with an estimated net profit margin of $200,000 to $260,000. New product launches include private label sanitary pads and diapers, alongside an expansion into telecom products. Share buyback initiatives are also set to reduce outstanding shares.

Positive

• Projected revenue increase of over 100% for Q1 and fiscal year 2021.
• Revenue forecast for 2021 between $1.5 million and $2.1 million.
• Estimated net profit margin of $200,000 to $260,000.
• Launch of new private label sanitary pads and diapers.
• Expansion into telecom product distribution.

Negative

• Actual results may differ materially from forward-looking statements.
• Risks associated with competition and market dynamics.
• Limited public market for common stock may affect liquidity.

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.

Financial Outlook

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.

Business Outlook

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 Taiwo Aimasiko, 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.

CONTACT INFORMATION

Bemax Inc.
Atlanta, GA
USA
Tel: 4044808372

SOURCE: Bemax Inc.

View source version on accesswire.com:
https://www.accesswire.com/635055/Bemax-Inc-Releases-Revenue-Projections-of-21Million-for-full-year-2021

FAQ

What are the revenue projections for BMXC for 2021?

Bemax Inc. projects revenue between $1.5 million and $2.1 million for the full year 2021.

When does Bemax Inc. expect to end its fiscal year?

Bemax Inc. expects to end its fiscal year on May 31, 2021.

What new products is Bemax Inc. launching?

Bemax Inc. is launching private label sanitary pads and Modenna baby diapers.

What percentage increase in revenue does BMXC expect for Q1 2021?

BMXC expects over a 100% increase in revenue for Q1 2021 compared to Q1 2020.

How is BMXC planning to reduce its shares outstanding?

BMXC plans to reduce shares through buybacks and management share retirements.