GRASS VALLEY, CA, Aug. 31, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – Today BrewBilt Brewing Company (the "Company") (OTCPINK: BRBL), announces the increase in customers and sales a month after the official launch of their brand of craft brewed beers.
On 8/15/2022, the company filed its 2nd QTR 10-Q for the period ending 6/30/2022. Assets increased from $847,000 to $1.6M and expenses decreased from $1.8M to $1.7M for the same periods last year. Sales were minimal during this period as the company had not commenced operations in packaging and selling their craft beers.
Jef Lewis, CEO, stated, “Our 3rd quarter revenue growth is ridiculous in linear growth of customers and sales. The company spent most of July canning and kegging their Kolsch and IPA for the July-19th release. Since then we have 40+ new customers and are averaging 2 new customers a day, our daily sales have increased to over $500 per day. Customers include restaurants, bars, grocery stores, liquor stores, hotels and a variety of pizza grills. At this growth rate we anticipate reaching 1200 customers and $14,000 per day in beer sales.”
The company signed a 5-year lease to build and operate its own Tap-Room and outdoor beer garden in Nevada City, California. This allows the company to sell and champion its product line of craft beers. The margins on tap-room sales increased 300% compared to margins on retail sales to other customers. To put this in perspective, the company CoG for each 20BBL of beer is $4,500. The retail sales are $8,000 and the tap-room sales are $27,000. 20BBL is equivalent to 5,000 pints of beer.
BrewBilt Brewing will focus on expansion and large retail distribution between now and the end of the year.
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ABOUT BREWBILT BREWING COMPANY: (http://www.brewbiltbrewing.com)
Located in the Sierra Foothills of Northern California, BrewBilt Brewing Company produces its own BrewBilt branded beers, as well as providing private label and contracting brewing services. BrewBilt Brewing grew out of BrewBilt Manufacturing Inc., an iconic company that has been handcrafting custom breweries and fermentation systems since 2014. BrewBilt Brewing's production staff consists of industry veterans that will use high quality brewing equipment and ingredients to deliver outstanding craft beer to California and beyond.
FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements. Forward-looking statements provide current expectations or forecasts of future events and are not guarantees of future performance, nor should they be relied upon as representing management's views as of any subsequent date. The forward-looking statements are based on management's expectations and are subject to a number of risks and uncertainties. Although management believes that the expectations reflected in such forward-looking statements are reasonable, actual results may differ materially from those expressed or implied in such statements. Risks and uncertainties that could cause actual results to differ materially include, without limitation, the Company's ability to effectively execute its business plans; unforeseen construction delays; the Company's need for additional capital; changes in general economic and financial market conditions; changes in the competitive environment; litigation; losses, customer bankruptcy, claims and assessments; and regulatory or legislative requirements affecting the Company's business. Management may elect to update forward-looking statements at some future point; however, it specifically disclaims any obligation to do so.
Contact:
Jef Lewis, CEO
BrewBilt Brewing Company - BRBL
(530) 802-0036
Info@BrewBiltBrewing.com
Source: BrewBilt Brewing Company
