BrewBilt Manufacturing Assets and Sales Increase 50% With Franchise Discussions Worth $175M
GRASS VALLEY, CA, Nov. 22, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – Today BrewBilt Manufacturing Inc. (the "Company") (OTCPINK: BBRW), announces that the Company has filed its 10Q for the period ending September 30, 2022.
The Company filed its 10Q for the period ending September 30, 2022, indicating that Assets to date have increased by approximately 60% from $1.3M ending on December 31, 2021 to $2.2M for the period ending September 30, 2022, while sales increased 54% from $0.6M to $1.1M for the same period last year, respectively. The Company believes that the increase is due to BrewBilt Manufacturing’s known quality brand for customers building a new brewery.
Chairman and CEO Jef Lewis stated, “We had a very positive meeting this week to discuss an opportunity with a large California based entertainment and hospitality company that owns and operates a combination of over 100 hotels, restaurants, and lounges. This would equate to $75M in brewhouse production revenue and over $100M in management and craft beer production revenue.”
Mr. Lewis further stated, “Our management team is focused on working closely with our broker/dealer on plans to move to a higher exchange. With the continued increase in revenue and assets we can navigate BrewBilt to repurchase shares, reduce debenture transactions and implement a dividend program for our shareholders.”
ABOUT BREWBILT MANUFACTURING COMPANY: (http://www.brewbilt.com)
BrewBilt is one of the only California companies that designs and manufactures custom brewing and fermentation equipment for craft brewers dedicated to making excellent beer. BrewBilt brewhouses and tanks are fabricated by highly skilled local welders using best-in-class American stainless steel. Whether you're adding cellar tanks, starting a neighborhood brewpub, or expanding a regional microbrewery, look to BrewBilt to design a solution just for you.
FORWARD-LOOKING STATEMENTS: This press release 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 Company's ability to effectively execute its business plans; unforeseen construction delays; the Company's need for additional capital; changes in general economic and financial market conditions; changes in the competitive environment; litigation; losses, customer bankruptcy, claims and assessments; and regulatory or legislative requirements affecting the Company's business. Management may elect to update forward-looking statements at some future point; however, it specifically disclaims any obligation to do so.
Source: BrewBilt Manufacturing Inc.