Dewmar takes in $75,000 through private placement of 8% convertibles

Asher Enterprises buys convertible promissory notes in two tranches

By Devika Patel

Knoxville, Tenn., May 7 - Dewmar International BMC, Inc. sold a $32,500 convertible promissory note to Asher Enterprises, Inc. on Feb. 19, according to an 8-K filed Tuesday with the Securities and Exchange Commission. It sold a $42,500 convertible promissory note to Asher on April 16.

The 8% notes are due Nov. 21, 2013 and Jan. 20, 2013, respectively. They may be converted into common shares at 55% of the market price. The notes may be prepaid at 120.

The company was formed as a holding company for making business acquisitions in various industries. It is based in Clinton, Miss.

Issuer:	Dewmar International BMC, Inc.
Issue:	Convertible promissory note
Amount:	$75,000
Maturity:	Nov. 21, 2013 (for $32,500), Jan. 20, 2013 (for $42,500)
Coupon:	8%
Conversion price:	55% of the market price
Call:	At 120
Warrants:	No
Investor:	Asher Enterprises, Inc.
Settlement dates:	Feb. 19 (for $32,500), April 16 (for $42,500)
Stock symbol:	OTCBB: DEWM

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