Dewmar International BMC Inc (DEWM)

[Swinetime]

To steal this from DRT




Was more like 338% off a low base

Using the 1Q/13 - 3Q/13 quarterlies and the full-year 2013 revenues, I calculated the 4Q/13 revenues and compared them to those of 1Q/14.

If we assume that there were no changes to 1Q - 3Q when audited, then 4Q/13 revenues were only $25.7K, down 50% from the previous quarter.

With 1Q/14 revs of $112.4K, DEWM saw a 338% sequential quarter increase in revenue, but it was off a very low base. Compared to 1Q/13, revenues were up 42%.



One other thing to note is that IIRC, Moran was talking about revenue from LEAN. Therefore, it's possible that LEAN alone could have seen sequential growth greater than 338%, perhaps even the claimed 540% - 550%.

Of course, the FDA letter was sent to DEWM just a few days before 1Q/14 ended, so it would be interesting to see the 2Q/14 and 3Q/14 revenues.

He probably wasn't lying, but without mentioning the decline in 4Q/13, was being disingenous. Then again, a lot of companies do this when they report percentage growth.