CBD OF DENVER INC - CBDD STOCK NEWS

CBD of Denver, Inc. (OTC Pink: CBDD) reported unaudited financial results for Q2 and H1 2024, showing significant revenue growth despite challenging market conditions. Q2 2024 revenue increased 37.4% to $1,002,240, while H1 2024 revenue surged 109.4% to $2,125,562 compared to the same periods in 2023. The company demonstrated improved operational efficiency with reduced operating expenses and salaries.

Despite July typically being slower, revenue for the month was approximately $225,293.61 USD. Luxora, a subsidiary, is navigating complex regulatory challenges in Germany's cannabis market. As of August 21, 2024, nearly 300 Cannabis Club applications have been submitted across Germany, but only eight have been approved, all in Lower Saxony, due to various regulatory hurdles and compliance issues.

CBD of Denver (OTC Pink: CBDD) reported estimated Q2 2024 revenue of $1,030,000, up from $720,000 in Q2 2023. The German cannabis market is evolving, with states progressing on Cannabis Club licensing. Luxora is exploring opportunities but awaits official approval. Lower Saxony has approved 7 out of 20 applications for cannabis cultivation clubs.

The company is reassessing its wholesale business due to lower-than-expected profit margins. Luxora has received positive engagement in Berlin for a Near-Infrared (NIR) cannabis testing device, with over 50 interested parties in Germany. This initiative could provide higher-margin sales and recurring revenue through a SaaS model. Luxora continues to explore various opportunities in the cannabis sector, focusing on technology, medical applications, and innovative growth areas.

CBD of Denver has reported an estimated revenue of $300,000 for June 2024 and highlighted a successful exhibition at the Mary Jane trade fair in Berlin from June 14-16. The event attracted over 40,000 visitors and showcased innovations in the cannabis industry. Luxora and CBD of Denver presented CheckMyWeed, a handheld NIR spectroscopy solution, which conducted over 600 tests on cannabis flowers and resins, providing detailed THC and CBD content data. The exhibition generated more than 50 qualified leads with significant interest in the product. Luxora's CSO, Stefan Röhrl, discussed the economic opportunities in Germany's emerging Cannabis Club scene. The licensing process for these clubs begins on July 1, with the first legal cannabis expected by late this year or early next year. The company has postponed its Markets Hunter podcast interview to ensure clarity in its upcoming presentation.

CBD of Denver (OTC Pink: CBDD) reported strong revenues for April and May 2024, with April sales reaching approximately $490,000 USD, primarily driven by Luxora. The company decided to unwind its acquisition of Libra 9 GmbH due to unmet revenue goals. Axel Reinke resigned as CEO and was replaced by Jan Schwager, CEO of Luxora. Luxora has engaged in discussions with strategic partners and signed an LOI. They also launched a new product, CheckMyWeed, for analyzing cannabis content. Germany is updating its cannabis regulations, expected to take effect on July 1, 2024. CBD of Denver plans to increase its authorized shares to eight billion to support growth strategies and will participate in an interview on the "Markets Hunter" podcast in June 2024.

CBD of Denver, Inc. (CBDD) filed its Q1 2024 financial results early, showcasing revenue growth to $1,123,322, up from $285,779 in Q1 2023. Luxora's wholesale division drove this increase, with April revenues hitting $418,000. The company is closely monitoring legislative changes in Germany related to cannabis clubs.

CBD of Denver, Inc. (CBDD) announced the filing of its financial results for 2023, showcasing significant improvements in total current assets, gross profit, and net income. The company's strategic efforts to enhance operational efficiency and cost management have led to positive financial outcomes. Accounts payable also decreased notably, reflecting the company's commitment to financial stability.

CBD of Denver, Inc. (CBDD) announces John Barnet joining Luxora, Inc. as advisory board member. John, a cannabis industry veteran, brings expertise in large-scale cultivation practices. Luxora excited about John's role in advising on facility design, process definition, and tailored fertigation formulas for Luxora Solutions in Germany.

CBD of Denver, Inc. (CBDD) reports a revenue of $1,116,300.00 USD in Q1 2024, with significant growth compared to Q1 2023. Luxora and Libra 9 GmbH contribute substantially to the revenue. Luxora is focusing on strategic initiatives for the German market, including leasing facilities to cannabis clubs. Stefan Röhrl, Luxora's CSO, will participate in a panel at the International Cannabis Business Conference in Berlin.

CBD of Denver, Inc. (CBDD) announces January 2024 revenue of $350,000, with significant contributions from subsidiaries Libra 9 GmbH and Luxora. Germany's potential cannabis legalization boosts market sentiment.