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BrewBilt $3M Purchase Orders in Process, $9M Pending, $2M in Assets 2X On Expectations
Sacramento, California, Feb. 26, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- BrewBilt Manufacturing Inc. (OTC PINK:VTNL) (Formerly, “Vet Online Supply”), the “Company”, BrewBilt Manufacturing announces today that the audited financials are under final review with the auditor, and they indicate $2M+ in assets. The financials will be disclosed within an 8K filing, and again in a Form-10K filing for the period ending December 31, 2019.
The company is processing $3M in Brewery and Cannabis purchase orders and 2 orders have been delivered in February-2020. There are 3 more orders that are scheduled to be delivered and installed in March and April-2020.
The company has a contract to fulfill $7M in cannabis extraction orders for 2020 and 2 of the cannabis orders are in process, along with $2M in pending orders in Hong Kong and California.
BrewBilt is bulging at the seams and will need to find additional manufacturing space to keep up with the purchase orders. At this rate the company will exceed its revenue expectations in June-2020 and possibly double its $12M expectations for 2020.
BrewBilt Video Link: https://www.brewbilt.com/about-1
ABOUT BREWBILT: (www.brewbilt.com)
Located in the Sierra Foothills of Northern California, BrewBilt is one of the only California companies that custom designs, hand crafts, and integrates processing, fermentation and distillation processing systems for the craft beer, cannabis and hemp industries using “Best in Class” American made components integrated with stainless steel processing vessels using only American made steel. Founded in 2014, the company began in a backyard shop by Jef Lewis with a vision of creating a profitable company in “Rural America”. BrewBilt has built a solid foundation by having strong relationships with local suppliers of raw materials, equipment and services in California, an aggressive referral network of satisfied customers nationwide, and an Advisory Board consisting of successful business leaders that provide valuable product feedback and business expertise to management. The craft brewing & spirits industries continue to grow worldwide. California is where craft brewing began and now has over 900 operating breweries – being centrally located in this booming market was a large draw for BrewBilt to locate its manufacturing facility in the Sierra foothills. All BrewBilt products are designed and fabricated as “food grade” quality which enables the company to build vessels for food & beverage processing. More important, the company has been building systems that are pharmaceutical grade for clients involved in distillation for the cannabis and hemp industries over the past 36 months, thus making the revenue potential much greater.
Safe Harbor for Forward-Looking Statements: This news release includes forward-looking statements. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the company at this time, actual results may differ materially from those described. The Company's operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are and will be set forth in the company's periodic filings with the U.S. Securities and Exchange Commission.
The Consulting Group
Source: BrewBilt Manufacturing Inc.