BrewBilt Repurchases $140k in Common Stock While Financials Are Up in Sales and Profits $BBRW
BrewBilt Repurchases $140k in Common Stock While Financials Are Up in Sales and Profits
Nov. 23, 2020 8:00 AM ET Source: BrewBilt Manufacturing, Inc.
SACRAMENTO, CA - (NewMediaWire) - November 23, 2020 - Today BrewBilt Manufacturing Inc. (the “Company”) (OTCPINK: BBRW), announced that the company filed an 8-K today disclosing that it repurchased 70,025,000 common shares at a price of $.002 in value of $140,000. The shares have been returned to treasury. On November 13, 2020 the company filed its Form-10Q ending September 30, 2020 with approximately $1M in sales, up from $500,000 in 2019 for the same period; with more than $700,000 net profit up from $100,000 in 2019. The company is showing gains of 5X, while reducing liabilities in the amount of $100,000 compared to 2019.
Jef Lewis, CEO, stated, “The Company repurchased 70,025,000 common shares and returned them to treasury on November 20, 2020. This represents more than 3% of our issued and outstanding shares. We anticipate a successful share buy-back considering the trajectory of our revenue for 2021. At the moment our projected buy-back of $5M represents more than our market capitalization of $4.2M, which may allow the Company to push the stock price up while repurchasing the shares.”
The company launched a new advertising campaign this quarter with multiple major trade media, inclusive of Food & Beverage and Pizza Today print and digital media. The first ads were released in October and as a result the company received $1.2M in quotes from restaurants that want to brew beer to increase their net profits and offer their own brand. “Quotes turn into real purchase orders which result in more revenue. This is part of a multifaceted strategy to build revenues in the USA, Europe and Asia. Currently with $3M in orders, and $15M in quotes from customers waiting for COVID to pass, realizes our projected 2021 revenue of $20M,” stated Jef Lewis, CEO.
