CBD of Denver Inc. Announces Q3 Results, Update on Anti-Slip, Expansion of Magic Lappen, Luxora Investor Call and Update Additional Corporate Actions

Rhea-AI Summary

CBD of Denver, Inc. announces Q3 revenue of approximately $728,000, a significant increase from the previous year. The company attributes the growth to positive impacts of changes in German health law, particularly for its Anti-Slip product. Plans are in place to expand throughout Germany. Luxora also had its first call with investors, discussing expansion plans for the German market. The company is eagerly awaiting the final draft of the legislation on cannabis legalization in Germany.

Positive

• CBD of Denver experienced a significant increase in Q3 revenue, reaching approximately $728,000, compared to $26,907 in Q3 of 2022.
• Positive impacts of changes in German health law have contributed to the strong performance of the Company's Anti-Slip product, resulting in a revenue increase for Berliner.
• Plans are in place to train additional installers and expand throughout Germany.
• Luxora had its first call with investors, discussing expansion plans for the German market.
• The company is eagerly awaiting the final draft of the legislation on cannabis legalization in Germany.

Negative

• None.

Denver, Colorado--(Newsfile Corp. - November 3, 2023) - CBD of Denver, Inc. (OTC Pink: CBDD), is pleased to announce that the Company had revenue in Q3 of approximately $728,000, including approximately $512,000 from Luxora and $216,000 from Berliner, showcasing a significant increase from the $26,907 in revenue during Q3 of 2022. The company is very pleased with this quarter as this is one of the more difficult quarters in Europe due to holidays during most of July and August.

As previous disclosed, changes in German health law have positively impacted the Company's Anti-Slip product, with sales currently focusing on the greater Berlin area. Plans are in place to train additional installers for an expansion throughout Germany. This legislative change has resulted in a strong Q3 performance for Berliner, despite the traditional summer vacation slowdown. Furthermore, this regulatory change has unlocked access to a substantial network of over 1,500 well-qualified leads, all within the Berlin area.

"The Magic Lappen continues to make strides within the Edeka Germany footprint by expanding into multiple new regions as the individual stores have requested the product," said CEO Axel Reinke. "We are actively participating in large exhibitions, showcasing our product in various industries, including car, commercial, and residential cleaning. During our last exhibition we picked up a few new clients one in the wine business for whom we developed special packaging for the wine company's giveaway. The client believes our product is perfect for cleaning and polishing quality wine glasses. Their first order was for 5,000 pieces. If you have not tried our product, I would highly recommend polishing silverware and crystal - the result is extraordinary."

Luxora had its first call with investors during which the Company introduced to the public some of the members of the team and briefly discussed expansion plans for the German market.

"With the pivotal debate on cannabis legalization scheduled for November 16th rapidly approaching, we are excitedly poised at the brink of a groundbreaking moment in the journey towards cannabis legalization in Germany. We eagerly await the final draft of the legislation, as we anticipate that it will not only affirm but also significantly bolster the capacity and potential of Luxora's infrastructure and services in the German market. We see this as a momentous opportunity to showcase our strengths and contribute positively to the industry's future," Chief Compliance Officer Philipp Ferrer emphasizes.

"I am very pleased with the progress Luxora has made and look forward to expanding on our goals and rolling out a plan for 2024 expansion I will be expanding on this in the very near future" states Jan Schwager.

CBD of Denver strives to provide that most up-to-date information available to the public, our customers, our employees, and our investors and shareholders.

Additional updates from CBD of Denver

1. We are reviewing additional products to put through our distribution portals, focusing on products that have already had success in North America.
2. The company understands the importance of social media and continues to investigate new ways of using this important medium to spread the word . As part of the Company's social media initiative, we will provide educational and informative content dealing the evolving German regulatory environment.

Please visit our websites and ask any questions not answered on our websites and public disclosure.

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 LLC

LUXORA LLC 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 Plug & Play solutions 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/186240

FAQ

What was CBD of Denver's Q3 revenue?

CBD of Denver's Q3 revenue was approximately $728,000.

What contributed to the revenue increase in Q3?

Positive impacts of changes in German health law, particularly for the Anti-Slip product, contributed to the revenue increase.

What are the expansion plans for Berliner?

Plans are in place to train additional installers and expand throughout Germany.

What happened during Luxora's call with investors?

Luxora discussed expansion plans for the German market during its call with investors.

What is CBD of Denver eagerly awaiting?

CBD of Denver is eagerly awaiting the final draft of the legislation on cannabis legalization in Germany.