Shares of Bemax, Inc. (OTCMKTS:BMXC) have seen two considerable multi-day bullish swings so far in 2017, which culminated in the stock breaching its 50-day moving average for the first time in several months on Friday. Exponential growth from the sub-penny to the penny-plus range doesn’t occur very often, but the month of January has been a whirlwind of positive price action for BMXC stock.
Following the first trading day of the year on January 3rd, the PPS rose from a low of .0048 to .0189 (+293%) on the 13th. After a slight consolidation, the stock has once again pressed to new highs, leading up to Friday’s high mark of .0237, which represented a total jump of 393% this month.
News on Bemax, Inc. (OTCMKTS:BMXC) over the same period has helped along this heightened valuation, with the company enacting measures including share and convertible note reduction, as well as releasing figures which showed increased revenues and outlook.
About Bemax Inc.
Bemax Inc. exports and distribute Disposable Baby Diapers from U.S. to emerging markets in Africa and Europe. We also export our private label brands from manufacturers in Asia and distribute to other growing markets. Bemax focuses on an extensive and far-reaching global network among wholesalers, large discounting retailers and supermarkets as well as entry into the ecommerce arena to reach households directly through subscription orders. We focus to supply our clients with disposable baby diapers from manufacturers in North America where quality is superior. Visit the company website at www.bemaxinc.com.
BMXC Undergoes 33% Share Reduction
As we mentioned above the company announced a 150 million share retirement last week, which effectively reduced the total number of outstanding shares by a third. Whenever a company tightens up its share structure, especially by a significant amount of this nature, it makes it that much easier to realize rapid growth on the chart, as we’ve seen so far.
CEO Taiwo Aimasiko said: “By retiring 150 million common shares we instantly create additional value to the shareholders & health of the company. The return of these shares demonstrates management’s desire to maintain a capital structure that supports growth without resorting to the increasing of our authorized shares. This is an integral part of Bemax Inc.’s long term corporate strategy,” (Via: Marketwired)
BMXC Reduces Convertible Notes by More Than 90%, Amazon Update
Earlier this month, the company made another announcement, regarding the near-total reduction of convertible notes, as well as reminding shareholders that it intends to launch its disposable diaper products on Amazon as part of an initial effort to break into the U.S. market, with retail outlets being its secondary goal. Up until now, the company’s sales have been focused in the UK and parts of Africa. It should be interesting to see how rapidly BMXC follows through on its stated plans for expansion, which could give rise to even bigger moves on the chart.
“We are pleased to substantially reduce the outstanding principal and interest on the convertible notes and to further see it reduce to zero before end of the month,” said Bemax’s CEO, Taiwo Aimasiko. “This will strengthened our balance sheet, enables the company to seek viable financing to invest in inventory expansion, marketing infrastructure and sales growth as we continue our expansion campaign in 2017.” (Via: Marketwired)
Between the recent excellent price action, and the company’s demonstrated commitment to cleaning up its balance sheet to provide better value for its investors, we’re anxious to stay tuned for future updates and developments on Bemax, Inc. (OTCMKTS:BMXC). That means you should stay locked to StreetRegister.com to keep up to date with BMXC and many more stocks daily, and get signed up for our 100% free smallcap newsletter right away! To subscribe, just enter your email address into the box below! Sign up today!