Bloomios Shareholder Update & Growth Strategy
SANTA BARBARA, Calif., Nov. 17, 2021 /PRNewswire/ -- Bloomios, Inc. (OTC: BLMS), CEO, Michael Hill issued the following letter to shareholders, providing an update on the Company's developments and future growth strategy.
Bloomios Shareholder Update & Growth Strategy
Dear Shareholders, It is with immense pride that I present this update on our recent corporate activities and strategic initiatives to you.
Bloomios went public in April 2021. Bloomios was founded with the belief that high quality and affordable hemp-derived products should be accessible to those in the U.S. who need it to improve their daily activities. We are determined to become the leading hemp-derived products manufacturer, supporting the industry's most recognized brands.
Bloomios manufactures, markets and distributes U.S. hemp-derived supplements and cosmetic products via wholesale distribution channels, manufactured by its wholly owned subsidiary Bloomios Private Label. We provide services including custom formulation, brand development and order fulfillment to a wide variety of customers including both large and small brands, chain stores, vape shops and distributors. We offer our private-label and white-label customers a large array of custom formulations and manufacturing services with over 220 hemp products across 12 categories.
Bloomios' recent financings and cashflow have provided for the Company's acquisition of new software and hardware to further improve our manufacturing capabilities and our operational efficiencies. More specifically, the Company purchased a new infused gummy machine, a new high-production printer, additional packaging equipment, software systems and many other items. This expansion and automation should allow the Company to increase output by 3-5 times our current manufacturing capabilities. We also continue to bolster our management team and now have 70 full-time employees.
Bloomios believes that our first full year in operation, we will hit approximately $9 million in Gross Revenue and likely breakeven or have a small loss.
Additionally, Bloomios is focused on the vertical integration of targeted brand acquisitions enabling us to address the wider consumer direct market. Through the addition of brand acquisitions, organic development, and distribution channel partnerships we intend to offer a full suite of high-quality consumer products. The Company is currently conducting due diligence on several acquisition targets.
The Bloomios management team is committed to continuing to execute our growth and acquisition strategy to increase long term shareholder value by building profitable revenue.
We value all our shareholders. If you have any questions or concerns, please do not hesitate to contact us at the following address: investorrelations@bloomios.com
