[ACCESSWIRE]
Strategic and Financial Review Concludes Significant Savings Will Be Achieved Following Voluntary Suspension of Reporting Obligations
HOUSTON, TX / ACCESSWIRE / May 18, 2017 / Dewmar International BMC, Inc. (OTC PINK: DEWM) a diversified operating company with business lines in consumer goods, healthcare and content media announced today that it has filed a Form 15 with the Securities and Exchange Commission (the "SEC") to voluntarily deregister the Company's common stock. Form 15 is a formal suspension of duty to file reports under Sections 13 and 15(d) of the Securities Exchange Act of 1934.
No disruption in trading is anticipated as the Company's securities currently trade on OTC Markets principal quotation system in The Pink® Open Market, No Information sub-category. The Company plans to meet all regulatory and compliance requirements promulgated in the OTC Market's Group Alternative Reporting Standard by making financial statements publicly available through the OTC Market's Disclosure and News Service. The Company believes that this will uplist the Company's current trading category from delinquent filer with No-Information [to] Current Information.
Dr. Marco Moran, Founder and CEO of the Company listed three primary reasons below why the Company decided to file the deregistration document with the SEC in order to up list to The Pink® Open Market Current Information category:
1) To focus our resources and capital on several IMMEDIATE business growth opportunities including Walmart product placement expansion and other exciting business developments that we plan to soon announce;
2) To deliver substantial cost savings to the Company's bottom line by eliminating legal, accounting, administrative and filing expenses associated with SEC reporting requirements which can waste a substantial percentage of profits for a small reporting company; and
3) To provide the Company's investor community with timely financial reporting that meets U.S. GAAP standards at a fraction of historical costs incurred by the Company to meet its SEC reporting obligations.
Dr. Moran stated, "We believe these necessary steps are in the best interest of our shareholders, reallocate management's focus on revenue generating tasks and helps drive increased operational efficiency."
About Dewmar International Brand Management Company, Inc.
Dewmar International BMC, Inc. is a diversified operating company headquartered in Clinton, MS with additional offices in New Orleans, LA; Denver, CO and Houston, TX. The Company has business lines in consumer goods, healthcare and content media. The Company and its subsidiaries develop, market and distribute goods, therapeutics and services in national and international markets through licensing agreements, e-commerce platforms, fee-for-service arrangements and distribution contracts.
For more information on the Company visit http://www.DewmarInternational.com and register on the homepage for free Company newsletter and email blast updates.
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SOURCE: Dewmar International BMC, Inc.
