SACRAMENTO, CA, Nov. 23, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire -- 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.
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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.
FORWARD-LOOKING STATEMENTS This document 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 Corporation’s ability to effectively execute its business plans; changes in general economic and financial market conditions; changes in interest rates; changes in the competitive environment; continuing consolidation in the financial services industry; new litigation or changes in existing litigation; losses, customer bankruptcy, claims and assessments; changes in banking regulations or other regulatory or legislative requirements affecting the Corporation’s business; and changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other regulatory agencies. Management may elect to update forward-looking statements at some future point; however, it specifically disclaims any obligation to do so.
Contact:
Jef Lewis, Chairman and CEO
BrewBilt Manufacturing Inc. - BBRW
Call or Text: 530-802-5023
Info@BrewBilt.com