Dewmar International BMC Inc (OTCMKTS:DEWM) managed to surge 1.89% up the charts yesterday, but the ascent came after a sharp decline on Wednesday’s trading session. The downfall in the stock was expected and must have not surprised investors paying focus to Dewmar performance.
As per the latest financial report, Dewmar reported $12,000 in cash. The total current assets came at $79,000 the total current liabilities mounted to $1.1 million. The net revenue and net loss came at $52,000 and $1.9 million, respectively. The financial numbers mentioned here are contained in a report that is six month old. However, after that the company has failed to release any more information. The latest attempt to move on charts was due to news related to hemp-based products.
The press release
As per the latest press release, there will be announcement this week on joint venture between Dewmar and Hemp Inc. (OTCMKTS:HEMP) on the launch of the Kush Cakes that are now made with hemp flour. The marijuana hype seems to be done as of now. Therefore, it would be more of like an understatement to state that similar boastful and bold news still have a trick of inspiring marijuana stock enthusiasts. The stock price current movements can certainly relate to that. Still, wise investors know that hope and hype are not good investment motivators. It is better to make a thorough analysis of the company’s financials.
Sadly for investors who want to opt for due diligence before investing in the stock, Dewmar International BMC Inc (OTCMKTS:DEWM) neglected its key responsibility to submit an annual report. Hence, the OTC market profile contains a “limited information” label. It indicates that there is no justified and systematic way to determine what is really happening with Dewmar. It means that any form of investment made in the company at this point can prove fatal.