Boomer Holdings Provides Update on Business Outlook and Comments on USA Recovery from Covid-19.

Rhea-AI Summary

Boomer Holdings, Inc. (OTCQB: BOMH) has reported a decline in demand for its Boomer Naturals facemasks due to the CDC's recent changes in mask guidelines, leading to a significant impact on anticipated revenue. Despite selling over 16 million masks last year, the company forecasts lower sales moving forward. Boomer is launching new product lines to offset lost mask revenue, though it's uncertain if these will suffice. The company has also filed a Form 15-12G for reporting under OTC's Alternate Reporting Standard and will release earnings for the period ending April 30th in mid-June.

Positive

• Sold over 16 million masks in the past year, highlighting strong prior demand.
• Plans to launch new product lines to replace lost revenue from facemasks.

Negative

• Decline in facemask demand following CDC's updated guidelines.
• Anticipated revenues expected to be significantly lower than last year.
• No longer providing forward-looking guidance due to demand uncertainty.

LAS VEGAS, June 11, 2021 /PRNewswire/ -- Boomer Holdings, Inc. ("Boomer" or the "Company") (OTCQB: BOMH), is an innovative Consumer Products Company specializing in a large variety of premium quality wellness and everyday use products under the Boomer Naturals brand name. Boomer would like to update its shareholders on the changing marketplace for facemasks and Boomer's business changes to adapt to them.

Boomer Holdings has been pleased to see the rapid deployment of the covid vaccine, lower infection rates and the start of a full recovery from the pandemic in the USA. However, this change and the CDC's abrupt update to mask guidelines in early May has already had an impact on demand for Boomer Naturals facemasks and Boomer does not expect demand to increase over the coming months.

The Company is proud to have sold over 16 million masks to help consumers guard against the COVID-19 virus over the past year and revenue from facemask sales was the key driver to top line revenue. Boomer had expected to continue selling facemasks at a strong rate through most of 2021, however, the CDC's policy change has caused both vendors and consumers to reduce purchases.

Boomer has put plans in place to replace lost mask revenue with the rollout of new Boomer product lines which began in the spring of 2021. The Company has received excellent feedback and is hopeful that the new products can replace [a portion of] the anticipated lost facemask revenue.  However, at this time. it is too early to predict whether the Company will generate any revenues from these products or sufficient revenues to replace those from lost facemask sales.

The surprise of this CDC announcement was highlighted in a May 13th New York Times article¹ which showed that 80% of epidemiologists polled believed Americans would need to wear masks indoors through the spring of 2022 and only 5% thought people would be able to stop wearing masks this summer. 

Boomer expects facemask demand to continue for a certain segment of the population as Americans have become accustomed to wearing masks. Boomer believes many consumers will continue to wear masks not only during the wind-down of the covid crisis but for flu, cold and allergy seasons as well.

Due to the unexpected change in CDC guidance with respect to mask wearing, the Company believes that it is highly likely that this year's actual results will be significantly less than both those of last year and previous forecasts given with assumption that the CDC was going to continue to recommend face masks through much of 2021.  The Company has already seen the impact of the CDC change in guidance and therefore will no longer provide any forward-looking guidance.

The company is expected to release earnings for the period ending April 30th in mid June.

Boomer holdings would also like to acknowledge their filing of a Form 15-12G with the Securities and Exchange Commission on June 9, 2021.  The company is focusing its efforts on reporting under the OTC's Alternate Reporting Standard.

About Boomer Naturals

Boomer Naturals is a wholly-owned subsidiary of Boomer Holdings Inc., a publicly-traded company (OTCQB: BOMH). Boomer Naturals is a full-service wellness company that provides products and services that enhance your well-being and increase your quality of life. Boomer Naturals' products are available online at Boomerstore.com, BoomerNaturals.com, BoomerNaturalsWholesale.com, CVS.com. Boomer Naturals' products are also available at the Boomer Naturals retail store, CVS retail locations, and resorts and golf shops across the country. For more information, please visit www.boomernaturals.com.

Forward-Looking Statements

Statements in this document contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on many assumptions and estimates and are not guarantees of future performance. These statements may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future, except as required by securities laws. Our actual results may differ materially from the results anticipated in these forward-looking statements due to a variety of factors, including, without limitation, economic, political, regulatory, capital markets and other external conditions and other factors beyond the Company's control, risks related to public health crises such as the global pandemic associated with the coronavirus (COVID-19), and those set forth as "Risk Factors" in our filings with the Securities and Exchange Commission ("SEC"). There may be other factors not mentioned above or included in the Company's SEC filings that may cause actual results to differ materially from those projected in any forward-looking statement.

Contact:
Russell Wong 
russell@boomernaturals.com

¹https://www.nytimes.com/2021/05/13/upshot/epidemiologists-coronavirus-masks.html

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SOURCE Boomer Naturals, Inc

FAQ

What impact did the CDC guidelines have on Boomer Holdings (BOMH)?

The CDC's updated mask guidelines led to decreased demand for Boomer's facemasks, significantly impacting expected revenue.

How many facemasks has Boomer Holdings sold?

Boomer Holdings has sold over 16 million facemasks in the past year.

What new initiatives is Boomer Holdings pursuing?

Boomer Holdings is rolling out new product lines to offset lost revenue from facemask sales.

When will Boomer Holdings release its earnings report?

Boomer Holdings is expected to release its earnings for the period ending April 30th in mid-June.

What reporting standard is Boomer Holdings focusing on?

Boomer Holdings has filed a Form 15-12G and is shifting its efforts to report under the OTC's Alternate Reporting Standard.