Trimax Corp (OTCMKTS:TMXN) shares fell 4.23% to $0.0340 and were unchanged in after-hours trading. Share prices have been trading in a 52-week range of $0.00 to $0.05. The company has a market cap of $9.29 million at 273.11 million shares outstanding.
In a press release, Trimax Corp and its wholly owned subsidiary Saavy Naturals Inc announced the success of its recently launched Bay Rum & Hemp body care product line as well as plans for the expansion of distribution channels to retail outlets. This all-natural Bay Rum & Hemp line of body care products was launched in May 2017.
“We are elated with the overwhelming response we have received with the introduction of our Bay Rum & Hemp line body care products. Consumers continue to reach out to us expressing great feedback for the uniqueness, exquisite scent and effects of these new products.” He also stated, “As we grow closer to the holiday season, which historically is our biggest producing quarter, the timing couldn’t be better for us to expand our retail distribution channels for a line we already know the consumer loves. Based on already existing sales from our first two quarters and projected sales in our third and fourth quarters, we fully anticipate 2017 to reach record sales for our Company,” stated Hugo Saavedra, CEO of Trimax Corp.
Trimax Corp is a company that operates through its subsidiary which is doing business as Bayern Industries, Trimax Yachts, Magellan 1 Import and Export.
Bayern Industries is an agro, hospitality, real estate, construction and tourism company. Bayern Industries holds interest in farm lands that are designed for organic breeding and organic farming in countries of Serbia Argentina and Chile. It offers hospitality services through its Esspresso Italiano Cafe, which serves the North American and European market with imported coffee machines, and commercial food and beverage equipment from Italy, as well as the Orient. Bayern Industries is engaged in real estate development in resort type areas.
Trimax Yachts is a joint venture of yacht manufacturing companies. The company is engaged in the design of yacht, yacht parts, sales and after-sales service. Magellan Industries is engaged in providing mobile applications, and Web development solutions for enterprises.