- Revenue grew to $1,078,090, an increase of over $1million year-over-year

Dallas, Georgia--(Newsfile Corp. - December 30, 2024) - Bemax Inc. (OTC Pink: BMXC), a private label development company with a focus on disposable diapers and women's hygienic sanitary products, is pleased to announce its financial results for the second fiscal quarter ended November 30, 2024, with quarterly revenue of $1,078,090 representing an increase of over $1million.

Bemax's distribution growth continues its steady momentum, delivering one of our strongest quarter of revenue growth, alongside profitability," said Taiwo Aimasiko, CEO. "The Bemax bulk purchase sales strategy has never been stronger with more buying agents distributing our private label disposable diapers to their markets."

"Our top-line private label brand of Mother's Touch has been gaining momentum and will continue to demonstrate the durability of our growth and significant revenue generation underlying our distribution strategy," stated Taiwo Aimasiko. "Upon board approval, we shall begin to reward our shareholders through special stock dividend during the current quarter as we continue to drive long-term shareholder value."

Financial Highlights for Second Quarter 2024

• Revenue grew $11,205 YoY to $1,078,090 million. Business and distribution model changes positively impacted total revenue YoY growth. The significant revenue increase year over year was primarily due to the expansion of sales and distribution networks.

• Gross Margin of $21,880. High cost of revenue including temporary pricing discounts to expand customer base impacted negatively on total gross margin.

• Net total operating expenses were $73,758 compared to same period of the prior year of $18,840. The increase was largely due to expenses relating to shipment and warehousing.

• Net cash provided by financing activities was $78,899 compared to $25,000 of same period of the prior year.

• Unrestricted cash, cash equivalents, and short-term inventory investments were $164,645 at the end of the second quarter.

About Bemax Inc.

About Bemax Inc. Bemax Inc. is a forward-thinking company dedicated to delivering top-quality disposable diapers and women's hygienic sanitary products. With a focus on innovation and customer satisfaction, Bemax continues to expand its product offerings and distribution network, aiming to exceed the expectations of its growing customer base. Bemax Inc. exports and distribute private label household products to the global emerging markets. www.bemaxinc.com.

Safe Harbor Statement

This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results or implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company's control. Forward-looking statements speak only as to the date they are made and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

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