In the last trading session, the stock price of Dewmar International BMC Inc (OTCMKTS:DEWM) gained more than 2% to close the day at $0.00400. The gains came at a share volume of 3.03 million compared to average share volume of 9.13 million. Post the recent gains the market cap of firm was noted at $9.77 million.
In the month of December, Dewmar International updated its public profile under its year message to shareholders. The new profile showcased the company’s accomplishments of last year and hints at an extremely promising 2018.
New profile highlighted that Walmart Stores continues to be company’s largest retail partner, offering the firm’s products both in stores and on online platform across the Southern U.S. Last May, Walmart and Dewmar finalized an expanded distribution deal. The new deal promotes Dewmar’s items from direct-to-store to central warehouse supply and increases the count of stores stocking company offerings, expanding from 22 to 80.
Dewmar’s main emphasis remains the expansion of its presence in the U.S. cannabis/hemp market, which is surging fast with the adoption and legalization of such items for nutraceutical, recreational and medicinal use. The company’s plan is to diversify its cannabis-linked revenue sources with complementary services, investments and products, unlike most small-cap firms in the cannabis operations, which usually rely on a single aspect of the industry.
In 2017, Dewmar submitted provisional patents with the USPTO for treating Parkinson’s disease, lung cancer and post-traumatic stress disorder utilizing cannabinoids. Additionally, the company has bought several website URLs to place the firm to access patients seeking medical pot cards in states that have approved, or are legalizing, medical cannabis.
One of Dewmar’s most vital strategic measures in the cannabis industry is relationship-building in Arkansas and Louisiana, both of which have approved the medical use of pot. These states are expecting a windfall in tax revenue from cannabis products sales, as other states have noted.