Dewmar International BMC Inc (OTCMKTS:DEWM) shares are up 4.49% to $0.00930 and were flat in after-hours trading. Share prices have been trading in a 52-week range of $0.00 to $0.02. The company has a market cap of $26.18 million at 2.81 billion shares outstanding.
In a press release, Dewmar International BMC Inc announced that it has agreed in principle to a possible merger or acquisition of India Imports LLC. This isa Louisiana limited liability company that has been in business since 1986 and has generated approximately $150 million of revenue annually for the past five years.
“The thing that I like about Hiren’s company is that it’s a family ran business where I have met and worked with his mother, father and sister prior to the inception of Dewmar International. I attribute much of the success Dewmar has had placing product in the many ethnic C-stores and wholesalers nationally to my work with Mr. Shah,” says Dewmar International BMC Inc CEO Dr. Marco Moran.
“Not only is Hiren a very astute and successful businessman who has proven to be an invaluable mentor and distribution ally; he was one of the first major investors in Dewmar when, in 2010, he loaned the Company nearly $300,000 with extremely reasonable terms to expand our product mix from 1-to-3 flavors of our Lean Slow Motion Potion brand,” he continued.
Dewmar International BMC Inc is a brand management services company that is engaged in developing, acquiring and/or licensing new products and brands for launch or distribution in both national and international markets. Its brands include Lean Slow Motion Potion, C+Swiss Hemp Ice Tea, Canna Energy and Chillo.
Lean Slow Motion Potion is a relaxation-carbonated potion. Lean Slow Motion Potion is available in approximately three flavors: Yella, Purp and Easta Pink. Lean Slow Motion Potion is distributed and sold in approximately 30 states and over three countries, as well as online. Its C+Swiss Hemp Ice Tea is a hemp-based black tea infused with lemon juice and hemp seed extract. Canna Energy is a gluten-free energy drink. Canna Energy is available in various ranges, such as Canna Energy Lite, Canna Energy Mango and Canna Energy Original. Chillo is a hemp energy beverage designed for recreational activities. U.S. Hemp Corporation is a subsidiary of the company.