BrewBilt Manufacturing Inc. Announces Year-End 2019 Earnings
SACRAMENTO, CA, April 22, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Today BrewBilt Manufacturing Inc. (the “Company”) (OTCPINK: BBRW), announced earnings for the year ended December 31, 2019 of $297K. Gross revenue was reported of $1.5 million, with a gross profit of $380K. Current assets are recorded at $949K, with a derivative liability of $6.8M.
The Company’s Board of Directors have agreed to discuss a declared quarterly cash dividend program scheduled for year end 2020 for its shareholders and will further prepare a disclosure statement for the same. The dividend will be payable to stockholders of record as of January 1, 2020.
The company currently has purchase orders in process exceeding $1M for new breweries in Texas, Arizona and California; with current and future Cannabis orders exceeding $2M. The cannabis orders involve extraction systems and systems used to produce water soluble CBD product.
The company will expand into Europe, Asia, Australia and South America in 2020 with projected purchase orders exceeding $5M. The beer industry has changed significantly over the last three decades in the United States. There were around 49 breweries in the US in the year 1983 which has significantly risen to about 5648 breweries in the year 2017. TTB data shows there are now approximately 10,115 permitted breweries in the US, which is an all-time high in the history of beer breweries in the United States. Statistics show there are some states that have more breweries than the entire state had 20 years ago.
One of the factors that have led to a boost in the beer industry in the EU is the increased number of exports. 22% of the beer produced in the European countries is being exported to other countries across the globe. Europe’s reputation for producing quality beer has led to an all-time in beer production and export in the year 2018, 412,221 compared to 407,961 in 1000 hectolitres. Beer consumption in the European Union countries fluctuates over the years. In 2011 and 2016, there was a high rise in beer consumption of approximately 358,000 in 1000 hectolitres in each year. The lowest year in beer consumption in the EU was in the year 2013 with around 350,763,000 hectolitres. A decrease was noted in the year 2017 as compared to beer consumption in 2016.
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ABOUT BREWBILT: ()
Located in the Sierra Foothills of Northern California, BrewBilt is one of the only California companies that custom designs, hand crafts, and integrates processing, fermentation and distillation processing systems for the craft beer, cannabis and hemp industries using “Best in Class” American made components integrated with stainless steel processing vessels using only American made steel. Founded in 2014, the company began in a backyard shop by Jef Lewis with a vision of creating a profitable company in “Rural America”. BrewBilt has built a solid foundation by having strong relationships with local suppliers of raw materials, equipment and services in California, an aggressive referral network of satisfied customers nationwide, and an Advisory Board consisting of successful business leaders that provide valuable product feedback and business expertise to management. The craft brewing & spirits industries continue to grow worldwide. California is where craft brewing began and now has over 900 operating breweries – being centrally located in this booming market was a large draw for BrewBilt to locate its manufacturing facility in the Sierra foothills. All BrewBilt products are designed and fabricated as “food grade” quality which enables the company to build vessels for food & beverage processing. More important, the company has been building systems that are pharmaceutical grade for clients involved in distillation for the cannabis and hemp industries over the past 36 months, thus making the revenue potential much greater.
FORWARD LOOKING STATEMENTS This document contains forward-looking statements. Forward-looking statements provide current expectations or forecasts of future events and are not guarantees of future performance, nor should they be relied upon as representing management’s views as of any subsequent date. The forward-looking statements are based on management’s expectations and are subject to a number of risks and uncertainties. Although management believes that the expectations reflected in such forward-looking statements are reasonable, actual results may differ materially from those expressed or implied in such statements. Risks and uncertainties that could cause actual results to differ materially include, without limitation, the Corporation’s ability to effectively execute its business plans; changes in general economic and financial market conditions; changes in interest rates; changes in the competitive environment; continuing consolidation in the financial services industry; new litigation or changes in existing litigation; losses, customer bankruptcy, claims and assessments; changes in banking regulations or other regulatory or legislative requirements affecting the Corporation’s business; and changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other regulatory agencies. Management may elect to update forward-looking statements at some future point; however, it specifically disclaims any obligation to do so.
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