Bemax Inc (OTCMKTS:BMXC)
Bemax Inc (OTCMKTS:BMXC) has announced receiving approval from Wal-Mart Stores Inc (NYSE:WMT) to offer its private label products to Wal-Mart.com customers. Bemax Inc will begin to supply its Mother’s Touch disposable diapers to Wal-Mart customers through the WalMart.com online portal.
As an approved vendor of Wal-Mart, Bemax Inc (OTCMKTS:BMXC) the company has started the process of onboarding its private label disposable diapers to Wal-Mart.com. Bemax is expected to service Wal-Mart customers using two warehouse locations situated out of Bellingham and Atlanta.
This demonstrates Wal-Mart Stores Inc (NYSE:WMT)’s growing efforts to increase its market share. In a statement, Wal-Mart Stores Inc expressed confidence that Bemax will become an important partner in the disposable diaper sector in addition to bringing innovative means to the market.
In other news, Bemax Inc (OTCMKTS:BMXC) Inc has announced fully repaying the outstanding principal plus the accumulated interest amounting to $46,000.00 that was due under the 18% Convertible Promissory Note dated December 28, 2016 and maturing on December 28, 2017.
The repayment will allow the company to avoid incurring additional future dilution and interest rates from any conversion that may have occurred. In a statement, the management said it is its top priority is to maximize value for the company’s shareholders through prevention of dilution of the company’s common stock.
While commenting on the development, CEO Aimasiko said the company is now in a better position to invest in expanding its inventory, launch more marketing campaigns and drive sales growth as it heads into the first half of the 2017 fiscal year.
Bemax Inc (OTCMKTS:BMXC) closed the Tuesday session with a + 1.69% or +$0.0002 to close the close the session at $0.0120.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.