Dewmar International BMC Inc (DEWM)

[NoMoDo]

I've been here for a year and I am content with how things are going. I would like to know that the merger is moving forward. Since I have bought and sold businesses, I am not surprised that this has taken longer than expected. They generally take a long time. My businesses are smaller and less complicated than a public company, but I still expect 6 months for a purchase to be completed.

I also know that once the process begins, it it best for both companies to keep the information from becoming public until the deal is done. I am not surprised that we have no information, but hope to get at least a paragraph in the annual report - if not an announcement of a done deal.

As for dispensaries, I spent a bit of time looking into those. The one in Arkansas required the majority applicant to be an Arkansas resident for at least the last 7 years. That caused DEWM to move into a consulting role as opposed to a majority dispensary applicant. We still don't know if DEWM had consulted one or more of the winning applicants - likely because there is a temporary restraining order issued on granting the 5 a license.

There was a lawsuit by the group that ranked 39 out of the 100 finalist applicants. One of the decision makers was a lawyer whose client received a dispensary... shock. It also looks like the decision was at least a bit capricious. However, administrative decisions have a very wide latitude. After reading the complaint and the government responses, there is not a great chance that the court will overturn the top 5 that received the dispensaries.

Considering the local constraints, I think Moran was brilliant on how he handled the situation - whether it pays off or not.