Here is response from BBRW Executive, Sam Berry.
RE: Question Regarding BBRW
Thu, Jul 30, 2020 3:15 pm
Sam (sam@brewbilt.com)To:you + 1 more Details
Simba, hope all is well with you and your family during Covid. BBRW is in process of uplisting to the OTCQB as disclosed, and our buyback of shares is in process. The buyback mechanism allows repurchases of BBRW shares in the marketplace. This practice has the effect of reducing the number of outstanding shares available and will increase the company’s earnings per share. These are both administrative functions that will improve things here. I believe that the stock price is relative to being on the PINKS where shorting is prevalent. Further, we reverse-merged into a pre-existing company with debt, and should have simply did an IPO. Our obligation and responsibility to our shareholders (new and pre-existing) is a priority. However, we’ve reduced the inherited debt, and continue to move forward with momentum and the luxury of unlimited craft beer in our refrigerator. Regards, Sam
Sent from Mail for Windows 10
Boston127, I meant $1M of debt which is being paid through dilution of stock. That's been pushing SP down.
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