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Bemax Inc. Retires Over Two Hundred Million Common Shares of Company Stock, Reduce Issued and Outstanding Shares.

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Bemax Inc. (OTC Pink: BMXC) announced that CEO Taiwo Aimasiko has voluntarily retired 200,716,573 common shares in exchange for 8,028,662 Series 'B' preferred shares, reducing total issued and outstanding common shares by 40.90%. This marks the second share reduction during the current fiscal year. The company, which focuses on disposable diapers and women's hygienic products, reports experiencing increasing sales growth and maintains its strategy of supporting growth without increasing authorized shares.

Bemax Inc. (OTC Pink: BMXC) ha annunciato che il CEO Taiwo Aimasiko ha ritirato volontariamente 200.716.573 azioni ordinarie in cambio di 8.028.662 azioni privilegiate di serie 'B', riducendo il totale delle azioni ordinarie emesse e in circolazione del 40,90%. Questo segna la seconda riduzione azionaria durante l'anno fiscale attuale. L'azienda, che si concentra su pannolini usa e getta e prodotti igienici femminili, riporta una crescente crescita delle vendite e mantiene la propria strategia di sostenere la crescita senza aumentare le azioni autorizzate.

Bemax Inc. (OTC Pink: BMXC) anunció que el CEO Taiwo Aimasiko ha retirado voluntariamente 200.716.573 acciones ordinarias a cambio de 8.028.662 acciones preferentes de la serie 'B', reduciendo el total de acciones ordinarias emitidas y en circulación en un 40,90%. Este es el segundo recorte de acciones durante el año fiscal actual. La compañía, que se enfoca en pañales desechables y productos de higiene femenina, informa un crecimiento creciente en las ventas y mantiene su estrategia de apoyar el crecimiento sin aumentar las acciones autorizadas.

Bemax Inc. (OTC Pink: BMXC)는 CEO Taiwo Aimasiko가 200,716,573주의 보통주를 자발적으로 연장하고 8,028,662주의 B시리즈 우선주와 교환했다고 발표했습니다. 이로 인해 발행된 보통주의 총 수가 40.90% 감소했습니다. 이는 현재 회계연도에 두 번째로 발생한 주식 감소입니다. 일회용 기저귀 및 여성 위생 제품에 중점을 둔 이 회사는 매출이 증가하고 있으며, 승인된 주식을 늘리지 않고 성장을 지원하는 전략을 유지하고 있습니다.

Bemax Inc. (OTC Pink: BMXC) a annoncé que le PDG Taiwo Aimasiko a volontairement retiré 200.716.573 actions ordinaires en échange de 8.028.662 actions privilégiées de série 'B', réduisant ainsi le total des actions ordinaires émises et en circulation de 40,90%. Il s'agit de la deuxième réduction d'actions au cours de l'exercice en cours. L'entreprise, qui se concentre sur les couches jetables et les produits d'hygiène féminine, signale une croissance continue des ventes et maintient sa stratégie de soutien à la croissance sans augmenter les actions autorisées.

Bemax Inc. (OTC Pink: BMXC) gab bekannt, dass CEO Taiwo Aimasiko freiwillig 200.716.573 Stammaktien im Austausch gegen 8.028.662 Vorzugsaktien der Serie 'B' zurückgezogen hat, wodurch die insgesamt ausgegebenen und ausstehenden Stammaktien um 40,90% reduziert wurden. Dies ist die zweite Reduzierung der Aktien im laufenden Geschäftsjahr. Das Unternehmen, das sich auf Einwegwindeln und Damenhygieneprodukte konzentriert, berichtet von einem wachsenden Umsatzwachstum und verfolgt weiterhin die Strategie, das Wachstum zu unterstützen, ohne die genehmigten Aktien zu erhöhen.

Positive
  • Significant 40.90% reduction in outstanding common shares, potentially increasing share value
  • Company reports increasing sales growth in current fiscal year
  • Strategic share restructuring without increasing authorized shares
Negative
  • Conversion of common shares to preferred shares could lead to future dilution if converted back
  • Current total issued and outstanding shares reduced by 40.90%

Dallas, Georgia--(Newsfile Corp. - November 12, 2024) - Bemax Inc. (OTC Pink: BMXC), a private label development company with a focus on disposable diapers and women's hygienic sanitary products, is pleased to announce today its CEO, Taiwo Aimasiko, has voluntarily retired 200,716,573 Common Shares of the Company's Stock for 8,028,662 Series "B" preferred shares, effectively reducing the total issued and outstanding common shares by 40.90%.

These shares' retirement is the second reduction of the total issued and outstanding shares effected during the current fiscal year. Also, Bemax continues to experience increasing sales growth during the ongoing financial year.

"This round of retirement of over 200 million common shares has created additional value to the shareholders and the overall health of the company. As previously stated, this will continue to be an integral part of Bemax Inc.'s long-term corporate strategy as well as management's desire to maintain a capital structure that supports growth without resorting to increasing our authorized shares," said Taiwo Aimasiko, CEO of Bemax Inc.

"Currently at Bemax, we continue to demonstrate plans to meet and exceed our sales target for 2024 and beyond, expanding our global distribution network and enhancing shareholders' value and confidence", stated Bemax CEO, Taiwo Aimasiko.

About Bemax Inc.

About Bemax Inc. Bemax Inc. is a forward-thinking company dedicated to delivering top-quality disposable diapers and women's hygienic sanitary products. With a focus on innovation and customer satisfaction, Bemax continues to expand its product offerings and distribution network, aiming to exceed the expectations of its growing customer base. 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.
Dallas, GA
USA
Taiwo Aimasiko
Email: admin@bemaxinc.com
Tel: (470) 582 0807 ext. 101

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/229579

FAQ

How many common shares did Bemax Inc. (BMXC) retire in November 2024?

Bemax Inc. retired 200,716,573 common shares in exchange for 8,028,662 Series 'B' preferred shares.

What percentage reduction in outstanding shares did BMXC achieve in this retirement?

The retirement of shares resulted in a 40.90% reduction in total issued and outstanding common shares.

Is this the first share retirement by BMXC in the current fiscal year?

No, this is the second reduction of total issued and outstanding shares during the current fiscal year.

BEMAX INC

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5.29M
207.23M
Household & Personal Products
Consumer Defensive
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United States of America
Dallas