Bemax Inc (BMXC)

[maz1978]

The share structure isn't accurate and now I know the CEO isn't honest or truthful - but I will provide a accurate O/S to those that will verify it

There is a huge problem with the accounting for the share structure.

From the company's PR

As at January 10, 2017, there were 451,640,836 shares of Common Stock issued and outstanding following the above noted conversion of the convertible Notes, all as described above.

Then we have the REDUCTION in shares that the CEO VOLUNTARILY restricted for 1 year

Bemax Inc. Retires 150 Million Common Shares of Company Stock, Reduces Issued and Outstanding Shares

DALLAS, GA -- (Marketwired) -- 01/25/17 -- Bemax Inc. (OTCBB: BMXC), a growing global distributor of Disposable Baby Diapers, is pleased to announce today its CEO, Taiwo Aimasiko, has voluntarily retired 150,000,000 Common Shares of the Company's Stock for 50,000,000 Series "B" preferred shares effectively reducing the total issued and outstanding common shares by 33.21%.


Now after some simple math lets see if the transfer agency confirms these figures



See where it says "verified by transfer agency" apparently the CEO was telling the truth after all

DEBUNKED

There might not be any toxic debt at this time - but BMXC doesn't have many options but toxic funding.

One look at the BMXC financials will cause any serious investors to run not walk away

Revenue for the six months ended November 30, 2016 totaled $115,153 compared to $65,219 for same period ended November 30, 2015.

"We delivered another quarter of revenue with distribution network showing sequential growth in line with expectations," stated Taiwo Aimasiko, President and Chief Executive Officer. She added, "We expect to see continued growth in sales as we start to benefit from new sales channels, as well as new distribution arrangements with strong distribution network."

Whats important with the revenues causing any serious investor not to "run away" is the basis of growth that this company is showing. Any serious investor understands a company that has only been in business for several years will deal with growing pains. What we have here however is a company that doubled its revs from the prior year...and then we have this:

Business Outlook - Third Quarter and Full Year 2016

For full year 2016, Bemax Inc. is increasing its outlook for revenue to a range of $3.5 million to $4.5 million, up from a range of $2.73 million to $3.3 million.

Thats a substantial increase from what was reported to what was filed but it then brings us to this:

Bemax Inc. Receives New Purchase Order for $1.1million Deliveries Starting in February 2017 to Be Completed in May 2017

This new purchase order resulting from the long-term supplier agreement filed on November 16, 2015 is the first tranche of purchase order in 2017, with Bethel Imports paying for each consignment before shipment by Bemax. Bemax expects to complete shipment of this order in Q4 2016, which set the company on track to meet its projected revenue for the current fiscal year.

Keep in mind the fiscal year 2016 for BXMC is from may 2016 to may 2017.

DALLAS, GA -- (Marketwired) -- 01/31/17 -- Bemax Inc. (OTCBB: BMXC), a growing global distributor of Disposable Baby Diapers, is pleased to announce today that it has received an $1.1milion purchase order for the supply of its private-label Disposable Baby Diaper from an existing client, a major distributor of the Disposable Diaper in the emerging South and East African markets. "This demonstrates commitment to our strategic plan to enhance and sustain shareholders' value and confidence in 2017 and beyond. The size of this purchase order clearly reaffirms the quality of our private-labels and eliminate the need for financing."

DEBUNKED

all serious investors are fooled by the OTCQB designation

Well actually there are very good reasons on why investors will only invest in otcqb or higher and not touch the pink sheets.



Minimum bid price test of $0.01 removes companies that are most likely to be the subject of dilutive stock fraud schemes and promotion

The CEO claims to be a accountant - but in reading the financials it doesn't look like a accountant has been involved.

LUCKY FOR US ALL FINANCIALS ARE REVIEWED AND AUDITED BY THIS COMPANY...YES ALL FINANCIALS ARE AUDITED FINS!! So any qualifications the CEO has from her accounting days are extra but otherwise not needed[/color]

Service Providers
Accounting/Auditing Firm
FRUCI & ASSOCIATES, P.S.
218 N Bernard
Spokane, WA, 99201
United States

I suspect the novelty of Alibaba's Chinese diapers will wear off soon

Some are claiming the diapers are from china...lets see what the CEO's response is to that however:

"Our private label are manufactured in China to our African markets- This is for obvious logistical reasons, and to reduce overhead costs and the Company to remain competitive especially at this early stage. Our private label brands for distribution in the U.S are being produce in the U.S where quality is superior."

Here is a letter from the SEC concerning the last 10-K filed. It is obvious that the SEC is very suspicious of the activities of BMXC.
https://www.sec.gov/Archives/edgar/data/1613895/000000000016074177/filename1.pdf

This was scary until one looks closer...wait...its just a comment letter??? Whats that you ask...good question, heres your answer from wiki leaks

The letter will typically be informal in nature, and is done as a courtesy, saving both the company and the SEC time and frustration down the road, and protecting investors from any misleading or inaccurate information.

Letter Of Comment http://www.investopedia.com/terms/l/letterofcomment.asp#ixzz4ZnkFAAT0

Then ofcourse lets not forget the other scary letter circulating...here it is here



WAIT WHATS THAT DATE??? AUG 2014??? SO THE FACT THAT THE COMPANY HAS NEVER HEARD ANOTHER THING IN 3 YEARS FROM IT...SHOULD HELP ANYONE DECIDED THE IMPORTANCE OF IT LOL

FOR FURTHER EXTENSIVE DD PLEASE SEE THIS POST:
investorshub.advfn.com/boards/read_msg.aspx?message_id=128895556

$BMXC