BMXC- Why I consider this stock a buy and hold:
-Effective April 25, 2017, Bemax Inc. (the “Company”) moved its principal executive offices to 1100 Peachtree Street NE, Suite 200, Atlanta, Georgia 30309. ( Atlanta Georgia is an economically booming city )
-On February 10, 2017, the Company filed an application with OTC Markets Group to Uplist to the OTCQB. Currently, the Company's stock is traded on the OTC Pink Sheets under the symbol "BMXC". No assurance can be made that this application will be approved by OTC Markets Group or that the Company will actually be able to uplist to the OTCQB. ( Audited fins, incentive to keep PPS at or above $.01 )
- On February 28, 2017, Bemax Inc. (the "Company") entered into a Private Label Manufacturing Agreement (the "Initial Agreement") with North American Diaper Company, LLC, a U.S. Corporation (the "Manufacturer"). Pursuant to the Agreement, the Company will purchase, distribute and export disposable baby diapers produced by the manufacturer in a private labeled format in packaging not trademarked or registered by the manufacturer
- On May 12, 2017, the Company’s Board of Directors approved the purchase of a 1.5 acre landed property (“the property”) in the city of Lagos for construction of production facility in West Africa.
The Production plant will manufacture Bemax disposable baby diapers brands for the West, East and South African markets, and eliminate the substantial costs associated with customs clearing. The Company will continue to use quality U.S manufacturer to meet customers demand for the U.S and European markets.
Construction of the production facility will commence in October of the current year. The project is estimated to be completed in June of 2019. When completed, the facility will house both the Company’s production plant, as well as space for commercial leasing to provide additional revenue stream to the Company. ( This just tells me there is complete confidence in this product and the ability to move the manufactured product, this is no small business move!! )
- On June 8, 2017, Bemax Inc. (the "Company") fully prepay the outstanding principal and accrued interest of the 8% Secured Convertible Promissory Note (the "Note") issued December 28, 2016 with a maturity date of December 28, 2017 in the original principal amount of $46,00.00 (the "Principal Amount").
As of June 12, 2017, the total shares of Common Stock issued and outstanding remain unchanged at 301,640,836.
The above noted Convertible Note including the Principal Amount and interest is now 100 percent prepaid and will not be converted to the Company's common stock. ( Paying off convertible debt to prevent dilution )
- On June 22, 2017 Bemax Inc. received approval from Wal-Mart Stores, Inc. to supply its private label products to Wal-Mart.com customers. The company will supply its brands of Mother’s Touch disposable diapers to Wal-Mart customers through Wal-Mart.com. As an approved Wal-Mart vendor, the company received a supplier and agreement number with access to appropriate Wal-Mart suppliers’ portal. The company has commenced the onboarding process of its private label disposable diapers to Wal-Mart.com
The company will service Walmart customers through two warehouse locations out of Atlanta and Bellingham. ( Selling product through Walmart online, Amazon and Ebay in the near future. )
AS- 850M
OS- 301.6M
( Compared to many OTC companies, definitely a good SS IMO )
All of this above transpiring within the last 6 months, the next 6 months could get very interesting.
Buying shares under $.01 right now is a no brainer, JMO
BMXC
