Dewmar International BMC Inc. (OTCMKTS:DEWM)’ Surge Continues
Dewmar International BMC Inc. (OTCMKTS:DEWM) continued climbing the charts yesterday, fueled by the hype generated by the investor letter from its CEO.
If an investor is to gauge DEWM‘s financial situation from that investor letter alone, he’d come to the conclusion that DEWM is one of the fastest growing and most promising companies on the OTC Markets.
In said publication DEWM‘s CEO Dr. Marco Moran boasted that the sales have been growing year-over-year, new contracts have been negotiated, and he even dropped hints that there may be future acquisitions.
It is understandable how this announcement could drive the ticker up in leaps and bounds, the last one adding a full 28.33% to DEWM‘s market value. Still, any seasoned investor knows better than to blindly trust PR. Proper due diligence is crucial to successful trading, and it encompasses so much more than that. And even superficial due diligence renders the statements of Dr. Morgn laughable. Why?
Because there really isn’t any reliable information on DEWM on the web. The latest financial report the company submitted hit the web over a year ago – a turn of events that doesn’t demonstrate a lot of concern for the shareholders. The only legitimate numbers that we have on the company since then is the change in its outstanding share count in its OTC Markets profile. That total has jumped from 790 million all the way up to 2.4 billion over the course of a year.
Long story short, there is no way to verify most of the claims the good doctor made.
Thus, his proud boasts about progress are dubious at best, and may prove misleading or even downright untrue. It’s not like that’s unheard of when pot-stocks are concerned.
We’ll leave it to the reader to figure out what will happen to DEWM‘s market cap if that proves to be the case but investors should keep this in mind – there is a very good reason for the company to be tagged as “OTC Pink No Information”, with a bright red “STOP” sign hanging in the upper right corner of its OTC Markets profile.
