Powder Springs, GA, Jan. 13, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- CBMJ Inc. (OTC:CBMJ) Conservative Broadcast Media & Journalism Announced that Quarter over Quarter Revenue increased by 68% from $785K in 2020 to $1.32M in Q-4 of 2021.
The Company’s full year revenue came in at $4.44M which is an 82% increase over 2020 revenue of $2.43M.
Product sales through e-commerce including Flag & Cross, Patriot Depot, Coffee and Cigar Sales accounted for 75% of total sales. The other 25% came from Consulting Services, Database Email sales and rentals and Media Services.
"One of our goals in 2021 was to drive Revenue which was accomplished with organic growth along with the acquisition of Patriot Depot in June 2021. Although sales were strong, we did not achieve our net income goals in 2021 due to inventory adjustments, added shipping costs, advertising censorship from big tech and managing the integration of the two businesses. With the hiring of Hanford Jordan as CEO of CBMJ’s subsidiaries DeDonato Enterprises/Patriot Depot, which was announced yesterday, we expect to rectify those issues and achieve both sales and earnings goals in 2022. The goal in 2022 is to achieve 10% earnings bottom line as a percentage of sales," stated CBMJ’s CEO Mark Schaftlein.
Correction: Yesterday’s press release from CBMJ announcing Hanford Jordan as being hired as CEO of its subsidiaries DeDonato Enterprises/Patriot Depot stated in error that prior he had been an auditor with “KPMC”. Is should have stated that prior he had been an auditor with “KPMG” International Limited, a British-Dutch multinational professional services network, and one of the Big Four accounting organizations.
About DeDonato Enterprises: DeDonato Enterprises, L.L.C. is a Digital Marketing Agency based in Metro-Atlanta that specializes in reaching a conservative/libertarian/religious audience. DeDonato was acquired by CBMJ in October of 2020.
About Patriot Depot: Patriot Depot is an online retailer that distributes and sells Conservative and Christian themed supplies, apparel, pins, flags, patriotic gifts, glasses, novelties, books, DVDs and more. Patriot Depot was acquired by CBMJ mid-2021.
About CBMJ: (CBMJ) Conservative Broadcast Media and Journalism is a Digital Marketing Company based in Metro-Atlanta that specializes in reaching a conservative/libertarian/religious audience. Among other assets, CBMJ operates numerous social media accounts across several platforms with over 2 million followers, owns an active database of over 20 million opt-in email subscribers, and publishes a network of 47 monetized political/news websites generating 10 million page views per month. Some of the marquis sites include www.flagandcross.com , www.patriotdepot.com and www.militarygradecoffee.com. The Company also maintains one of the largest collections of historical documents on the web at http://constitution.com/ .
In addition, CBMJ operates a brick-and-mortar coffee shop in Hiram, GA, and e-commerce websites including www.thrashercoffee.com/ , www.valloranicigars.com , and an e-commerce portal at their primary site www.store.flagandcross.com/ . CBMJ now also distributes the increasingly popular TV, radio, and social media segment "The Schaftlein Report" hosted by economic analyst, political commentator, and CBMJ’s CEO Mark Schaftlein. https://schaftleinreport.com/
Forward-Looking Statements: This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters disclosed at www.otcmarkets.com . These risks and uncertainties could cause the company's actual results to differ materially.
Mark Schaftlein
877-704-6773
