CBD of Denver Announces Q2 Revenue and Provides Update on German Market
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 di Denver (OTC Pink: CBDD) ha riportato un fatturato stimato per il secondo trimestre del 2024 di 1.030.000 $, in aumento rispetto ai 720.000 $ del secondo trimestre del 2023. Il mercato della cannabis in Germania sta evolvendo, con gli stati che stanno procedendo con il rilascio delle licenze per i Cannabis Club. Luxora sta esplorando opportunità ma attende approvazioni ufficiali. La Bassa Sassonia ha approvato 7 domande su 20 per i club di coltivazione della cannabis.
L'azienda sta rivalutando il suo business all'ingrosso a causa di margini di profitto inferiori alle attese. Luxora ha ricevuto un coinvolgimento positivo a Berlino per un dispositivo di test della cannabis a infrarossi vicini (NIR), con oltre 50 parti interessate in Germania. Questa iniziativa potrebbe fornire vendite con margini più elevati e ricavi ricorrenti attraverso un modello SaaS. Luxora continua a esplorare varie opportunità nel settore della cannabis, concentrandosi sulla tecnologia, sulle applicazioni mediche e sulle aree di crescita innovative.
CBD de Denver (OTC Pink: CBDD) informó ingresos estimados para el segundo trimestre de 2024 de $1,030,000, un aumento respecto a los $720,000 en el segundo trimestre de 2023. El mercado de cannabis en Alemania está evolucionando, con los estados avanzando en la concesión de licencias para los Cannabis Club. Luxora está explorando oportunidades pero espera la aprobación oficial. Baja Sajonia ha aprobado 7 de 20 solicitudes para clubes de cultivo de cannabis.
La compañía está reevaluando su negocio mayorista debido a márgenes de beneficio inferiores a lo esperado. Luxora ha recibido un compromiso positivo en Berlín para un dispositivo de prueba de cannabis de infrarrojos cercanos (NIR), con más de 50 partes interesadas en Alemania. Esta iniciativa podría proporcionar ventas con márgenes más altos y ingresos recurrentes a través de un modelo SaaS. Luxora continúa explorando diversas oportunidades en el sector del cannabis, enfocándose en tecnología, aplicaciones médicas y áreas de crecimiento innovadoras.
덴버의 CBD(OTC Pink: CBDD)가 2024년 2분기 예상 매출을 $1,030,000로 보고했으며, 이는 2023년 2분기의 $720,000에서 증가한 수치입니다. 독일의 대마초 시장이 발전하고 있으며, 주 정부가 대마초 클럽 라이센스를 승인하는 절차를 진행하고 있습니다. Luxora는 기회를 모색하고 있으나 공식 승인을 기다리고 있습니다. 니더 작센 주에서는 대마초 재배 클럽을 위한 20건의 신청 중 7건을 승인하였습니다.
회사는 기대 이하의 이익률로 인해 도매 사업을 재평가하고 있습니다. Luxora는 독일 내에서 50개 이상의 이해관계자로부터 긍정적인 반응을 받은 근적외선(NIR) 대마초 테스트 장비에 대해 베를린에서의 참여를 수령했습니다. 이 이니셔티브는 더 높은 마진의 판매와 SaaS 모델을 통한 반복 수익을 제공할 수 있습니다. Luxora는 기술, 의료 응용 프로그램 및 혁신적인 성장 분야에 집중하여 대마초 분야에서 다양한 기회를 지속적으로 탐색하고 있습니다.
CBD de Denver (OTC Pink: CDBD) a rapporté un chiffre d'affaires estimé pour le deuxième trimestre 2024 de 1.030.000 $, en hausse par rapport aux 720.000 $ du deuxième trimestre 2023. Le marché de la cannabis en Allemagne évolue, avec les États qui avancent dans la délivrance de licences pour les Cannabis Clubs. Luxora explore des opportunités mais attend une approbation officielle. La Basse-Saxe a approuvé 7 des 20 demandes pour des clubs de culture de cannabis.
La société réévalue son activité de gros en raison de marges bénéficiaires inférieures aux attentes. Luxora a reçu un engagement positif à Berlin pour un dispositif de test de cannabis à infrarouge proche (NIR), avec plus de 50 parties intéressées en Allemagne. Cette initiative pourrait fournir des ventes à marges plus élevées et des revenus récurrents via un modèle SaaS. Luxora continue d'explorer diverses opportunités dans le secteur du cannabis, en se concentrant sur la technologie, les applications médicales et les domaines de croissance innovants.
CBD aus Denver (OTC Pink: CBDD) berichtete von einem geschätzten Umsatz von 1.030.000 $ im 2. Quartal 2024, ein Anstieg von 720.000 $ im 2. Quartal 2023. Der deutsche Cannabismarkt entwickelt sich, während die Bundesländer Fortschritte bei der Erteilung von Lizenzen für Cannabis-Clubs machen. Luxora erkundet Chancen, wartet jedoch auf die offizielle Genehmigung. Niedersachsen hat 7 von 20 Anträgen für Cannabisanbauclubs genehmigt.
Das Unternehmen bewertet sein Großhandelsgeschäft aufgrund von niedrigeren als erwarteten Gewinnmargen neu. Luxora hat in Berlin positives Feedback für ein Gerät zur Cannabisprüfung mit nahen Infrarotlicht (NIR) erhalten, mit über 50 Interessierten in Deutschland. Diese Initiative könnte den Verkauf mit höheren Margen und wiederkehrende Einnahmen durch ein SaaS-Modell ermöglichen. Luxora setzt seine Erkundungen in verschiedenen Bereichen im Cannabis-Sektor fort und konzentriert sich auf Technologien, medizinische Anwendungen und innovative Wachstumsfelder.
- Q2 2024 revenue increased to $1,030,000 from $720,000 in Q2 2023
- Positive engagement for Near-Infrared (NIR) cannabis testing device in Berlin
- Potential for higher-margin sales and recurring revenue from NIR device and SaaS model
- Over 50 interested parties in Germany for the NIR device
- Wholesale business unit not meeting anticipated profit margins
- Luxora still awaiting official approval for its business model in Germany
- High hurdles for cannabis clubs in Germany due to strict application frameworks and recent law amendments
Denver, Colorado--(Newsfile Corp. - August 5, 2024) - CBD of Denver, Inc. (OTC Pink: CBDD) today announced that revenue for Q2 2024 is estimated to be approximately
The German market is evolving as all federal states are progressing with their individual application and licensing programs for Cannabis Clubs. Luxora is in ongoing discussions to explore opportunities for its grow infrastructure solutions but has not yet received official confirmation from any federal state to approve its business model. Lower Saxony is the first and only state in Germany to have decided on applications for the approval of cannabis cultivation clubs, with seven applications approved and five rejected. A total of 20 applications have been submitted, making it the third highest in the country after North Rhine-Westphalia with 37 and Baden-Württemberg with 35. The pace of applications illustrates the high hurdles that clubs must overcome based on the individual federal states' application frameworks and the recent amendments to the cannabis law, which make it much more difficult to start a club. The company continues to explore the opportunity in the German market and is actively engaged with the responsible authorities to achieve legislative clarity.
Following a thorough assessment of its wholesale business unit, the company found that it was not meeting its anticipated profit margins. However, the company continues to operate in the wholesale business and is still experiencing growth. The Company continues to review new opportunities with the goal of identifying businesses with higher margins to build recurring revenue.
In a significant development, Luxora has received positive engagement in Berlin regarding a Near-Infrared (NIR) device used for cannabis testing. The company is following up on leads from over 50 interested parties in Germany. In the coming weeks, Luxora will be making sales presentations to these potential clients. If proven sustainable, this initiative has the potential to provide higher-margin sales based on a markup on the device as well as recurring revenues based on the SaaS (Software as a Service) model, which is sold alongside the hardware device. The company is testing the viability of the business model before deciding on a specific direction.
Luxora remains committed to exploring a wide array of opportunities within the cannabis sector, including advancements in technology, medical applications, and other innovative areas with strong growth potential. The company's proactive approach aims to leverage its expertise and market presence to drive growth and value for its shareholders.
About CBD of Denver, Inc.
CBD of Denver, Inc. is focused on acquiring profitable assets at attractive valuations to create value for shareholders. The company's team is dedicated to sourcing high-margin, innovative products that align with its values.
About LUXORA Inc.
LUXORA Inc. is a trailblazing entity in the European cannabis industry, with offices spanning the USA and Europe. Our core expertise revolves around unlocking the potential of the legalized cannabis market, offering infrastructure solutions and consulting tailored to the dynamic needs of this rapidly expanding sector. With a profound understanding of the opportunities and challenges brought forth by legalization, our experienced team is dedicated to pioneering the future of the legal cannabis market in Europe. Our offerings range from consulting and market research to product development and distribution solutions, aimed at simplifying the path to legalization for our esteemed clients.
For inquiries, please contact Investor Relations: investors@luxora-holding.com
For more information, please visit: www.luxora-holding.com
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FAQ
What was CBD of Denver's (CBDD) estimated revenue for Q2 2024?
How many cannabis cultivation club applications were approved in Lower Saxony, Germany?
What new opportunity is Luxora exploring in the German cannabis market?
How many interested parties has Luxora received for its NIR cannabis testing device in Germany?
