Monday, the company, which only has about 59 million shares outstanding, said that it has reconsidered and retracts the decision to consolidate shares. The move to reverse split the stock “is not in the best interest of shareholder loyalty,” according to Dr. Moran. He added that the product development company will strive to increase shareholder confidence by significantly increasing revenue.
In 2011, the company recorded $1.27 million in revenue, up from $1.11 million in the 2010.
In August, Houston, Texas-based Dewmar announced that it believes that its flagship brand, Lean Slow Motion Potion™, had become the second most widely distributed relaxation drink in the United States, ranking only behind Marley’s Mellow Mood. The company also noted that its number two position was achieved without spending any money for slotting, as Marley Beverage Company (the company created in partnerships with the family of music icon Bob Marley) has.
Dewmar plans to ratchet-up sales by implementing a number of marketing and promotions programs in the thousands of retail accounts serviced by its distributors in over 15 states. Additionally, the company said it anticipates developing a number of new products in 2013 for third party entities.
Shares of DEWM have sunk in the past three months from around 15 cents to lows of $0.0026 last week. A resurgence of sorts has happened the past two days with shares climbing as high as 1.8 cents early today, but has since cooled some to be trading at 1.3 cents a little over an hour into the trading session.
Dewmar International (DEWM) Stock Quote and News:
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