CBD of Denver Inc. Announces Filing of Q1 Quarterly Disclosure and Financials

Rhea-AI Summary

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.

Positive

• CBDD filed Q1 2024 financial results early, demonstrating efficiency.

• Revenue surged to $1,123,322 in Q1 2024 from $285,779 in Q1 2023.

• Luxora's wholesale division fueled revenue growth, with April revenues of $418,000.

• Company exploring new opportunities in the European cannabis sector.

Negative

• None.

Denver, Colorado--(Newsfile Corp. - May 9, 2024) - CBD of Denver, Inc. (OTC Pink: CBDD) is pleased to announce the filing of its financial results for the quarter ended March 31, 2024. The Company successfully filed its quarterly report ahead of the May 15th regulatory deadline, demonstrating the efficacy of enhanced workflows and collaboration between its accounting partner in Switzerland and U.S.-based legal counsel.

The company recorded a significant increase in revenue, posting $1,123,322 for Q1 2024, a substantial rise from $285,779 in Q1 2023. This growth is primarily attributed to the enhanced sales volume from Luxora's wholesale division. Adding to this positive trend, Luxora also reported robust April revenues of approximately $418,000, marking its most successful month in 2024 thus far and highlighting continued and sustained growth momentum.

The company is diligently monitoring the legislative developments in the German market, especially with the impending debate on the draft bill "to amend the Cannabis Consumption Act and the Medicinal Cannabis Act," scheduled for Thursday, May 16, 2024. This discussion to further clarify the framework for cannabis clubs in Germany, followed by further deliberation by the leading Health Committee, signifies an important step for the industry.

The Company is continuously exploring new opportunities in the European cannabis sector, focusing on medical aspects, technological innovations, and other auxiliary services.

About CBD of Denver, Inc. (BERLINER INNOVATION)

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. The Company is offering a number of innovative consumer products through Libra 9 GmbH, such as the Magic Lappen and the BerlinR13 Anti-Slip solution.

Follow Magic Lappen on Twitter, Instagram, Facebook and TikTok for more information and updates.

Follow The Magic Lappen on Instagram: @themagiclappen

Shop on our website: https://www.the-magic-lappen.com/

Visit the CBDD/ Berliner Innovation: www.berlinerinnovation.de

See our innovative Anti-Slip product: www.berlinr13.de

For questions, please contact us at: investors@libra9.de

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

Follow Us: Twitter | Instagram.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/208540