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CBD of Denver Inc. Announces Annual Disclosure and Filing of Financial Statements
Newsfile Corp.
Newsfile Corp
Denver, Colorado--(Newsfile Corp. - May 2, 2024) - CBD of Denver, Inc. (OTC Pink: CBDD) has filed its financial results for the year ended December 31, 2023. The results highlight significant financial improvements and strategic achievements.
Financial Highlights:
Total Current Assets increased to $117,218 in 2023, up from $28,043 in 2022, marking significant progress in strengthening the company's balance sheet.
Gross Profit for 2023 was $595,417, a significant recovery from a gross loss of $(284,734) in 2022, due to a 27% increase in sales and reduction in Cost of Goods Sold, reflecting improved operational efficiency and product demand.
Net Income Before Provision for Income Tax showed improvement with a loss of $(377,729) in 2023, compared to a loss of $(3,257,710) in 2022. This underscores the company's efforts to enhance operational efficiency and improve cost management. Strategies include adopting a lean approach to minimize fixed expenses to the absolute bare minimum and managing variable expenses prudently, all while aiming to boost top-line growth.
Operational Highlights:
Net Income from Operations showed improvement with a reduced loss in 2023 compared to 2022. These figures represent diligent efforts in operational adjustments and cost management.
Accounts Payable decreased significantly to $297,164 in 2023, down from $961,651 in 2022.
"It is with great pride that I report on the robust financial performance and strategic achievements of CBD of Denver for the year 2023," said Axel Reinke, CEO of CBD of Denver. "The transformation from substantial losses in the previous year reflects the determination and adaptability of our team. We remain dedicated to driving growth, maximizing shareholder value, and spearheading innovation in our industry."
Three notes (Capitoline Ventures II LLC, Goldberg AG, and Pascal Siegenthaler) have been extended for an additional two years. These notes are held by friendly debt holders who have, and the company believes, will continue, to support CBD of Denver Inc.
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.
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SOURCE CBD of Denver Inc.
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https://www.otcmarkets.com/stock/CBDD/news/story?e&id=2845858
CBDD's Magic Lappen Being Sold on Amazon, Annual Disclosure and Financial Statements FiledPress Release | 04/27/2023
Denver, Colorado--(Newsfile Corp. - April 27, 2023) - CBD of Denver (OTC Pink: CBDD) today announced that it has filed its annual disclosure and financial statements with OTC Markets, after a delay due to OTC Markets completing its procedures related to the change in control related to the acquisition of Libra 9 and the appointment of Axel Reinke as CEO and chairman.
CBDD now has three non-employee directors who are also invested in the Company. This continues to align the Company with its shareholders and investors. The latest filing shows that top line revenue has begun to climb allowing the Company to focus on becoming cash flow positive as quickly as possible.
The Magic Lappen is part of the Company's plan to achieve profitability and as of Friday, April 21, 2023, the Magic Lappen was a "BEST SELLER" in the reusuable cleaning wipes category on Amazon.de. The Company sold 582 pieces after a local Dortmund car enthusiast stopped at the Magic Lappen booth at the Essen Car show and was amazed at how the Magic Lappen made a greasy mirror clean, shining and streak-free. On the video (around the 18:07 minute mark Video Link), he smelled and tasted the water as he could not believe the results could be so perfect with just water.
This was the company's best 24-hour sales effort online to-date.
CBDD will continue to evaluate and explore other venues to expand the exposure for this amazing product that has been embraced by the public. The Company has also signed its largest distribution agreement to date with EDEKA, the largest German supermarket. EDEKA uses cutting-edge technologies to meet the expectation of modern-day shop staff and customers. The distribution agreement covers 1,700 locations. The Company continues discussions with EDEKA on how best to start the roll out of the Magic Lappen. The Company has started producing additional inventory in anticipation of the roll out.
Follow CBDD on LinkedIn and Twitter for more information and updates.
Follow The Magic Lappen on Instagram: @themagiclappen or shop on our website: The Magic Lappen.
Visit the Website of Berlin R 13, the innovative Anti-Slip product: www.berlinr13.de.
Contact Info: info@cbdofdenver.com
About the Magic Lappen
The Magic Lappen provides maximum shine, streak free drying, and only requires water - no chemicals or detergents. The Magic Lappen is also chemical-free and lint-free; cleaning of all smooth and shining surfaces is robust and durable with a leather-like feel. Its innovative structure enables high absorption of dirt, dust, and grease and can be washed many times at 60°. The product is vegan and ecofriendly.
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.
Information contained herein includes forward-looking statements. These statements relate to future events or future financial performance, involving known and unknown risks and you should not place undue reliance on these statements. Any forward-looking statement reflects our current views with respect to future events. We assume no obligation publicly about update or revise these forward-looking statements for any reason.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/163950
https://www.otcmarkets.com/stock/CBDD/news/CBDDs-Magic-Lappen-Being-Sold-on-Amazon-Annual-Disclosure-and-Financial-Statements-Filed?id=398212
CBD of Denver (CBDD) Provides Updates on Placing the Product into the Hospitality IndustryPress Release | 03/16/2023
Denver, Colorado--(Newsfile Corp. - March 16, 2023) - CBD of Denver (OTC Pink: CBDD) provides an update on its subsidiary, Libra 9, and its innovative product, The Magic Lappen, regarding its efforts to enter the hospitality industry. As a leading full-line distributor of CBD, Cannabis, Hemp oil and nanotechnology products in Switzerland and Europe, the company is committed to expanding its reach and introducing its products to new markets.
The company has made presentations to several prominent hotels in the Berlin area, including the Soho House, Intercontinental, Waldorf Astoria, and H10 Hotels, among others. To date, the company has been successful at all these hotels, with initial orders to test The Magic Lappen.
In addition to these positive developments, one hotel has also scheduled a follow-up appointment for the company's anti-slip product. The company aims to build on this success by showcasing The Magic Lappen at future exhibitions in Europe, with a specific focus on the hospitality industry.
The launch on Amazon is underway, and we are LIVE in Germany, France, Spain, Belgium and Poland. This move will significantly expand the company's customer base, allowing more people to experience the benefits of The Magic Lappen.
We are in discussion with multiple firms to support our efforts in the US market and we will provide an update in the near future.
As a leading player in the industry, CBD of Denver is committed to bringing innovative products to the market and delivering value to its shareholders. The company remains focused on expanding its operations and exploring new markets, with a keen eye on identifying and pursuing acquisition opportunities that create value for its shareholders.
About Libra 9 GmbH, the Anti-Slip and The Magic Lappen:
The Magic Lappen provides maximum shine, streak free drying, and only requires water - no chemicals or detergents. The Magic Lappen is also chemical-free and lint-free; cleaning of all smooth and shining surfaces is robust and durable with a leather-like feel. Its innovative structure enables high absorption of dirt, dust, and grease and can be washed many times at 60°. The product is vegan and ecofriendly.
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.
Follow CBDD on LinkedIn and Twitter for more information and updates.
Follow The Magic Lappen on Instagram: @themagiclappen or shop on our website: The Magic Lappen
Visit the Website of Berlin R 13 the innovative Anti-Slip product: www.berlinr13.de.
Contact Info: info@cbdofdenver.com
Information contained herein includes forward-looking statements. These statements relate to future events or future financial performance, involving known and unknown risks and you should not place undue reliance on these statements. Any forward-looking statement reflects our current views with respect to future events. We assume no obligation publicly about update or revise these forward-looking statements for any reason.
Corporate Logo
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/158665
https://www.otcmarkets.com/stock/CBDD/news/CBD-of-Denver-CBDD-Provides-Updates-on-Placing-the-Product-into-the-Hospitality-Industry?id=393419
CBD of Denver Inc. (CBDD) Provides Updates on Two Letters of Intent Signed in the CBD Cannabis IndustryPress Release | 03/14/2023
Denver, Colorado--(Newsfile Corp. - March 14, 2023) - CBD of Denver, Inc. (OTC Pink: CBDD), a leading distributor of CBD, Cannabis, Hemp oil, and nanotechnology products in Switzerland and Europe, has announced updates on two Letters of Intent signed in the Health and Wellness CBD Cannabis Industry.
The Company has been in discussions for several months to expand its Health & Wellness business. The first Letter of Intent is to acquire a German-based CBD specialist, which will provide warehousing and logistic services for Germany and expand CBD of Denver Inc's reach throughout Europe. The target company currently distributes its products to 500 German-based stores and gas stations, with plans to expand to 2,000 stores in 2023/2024. CBD of Denver Inc has had a business relationship with the target company since October 2022 and expects to benefit from this acquisition.
The second Letter of Intent is to acquire a wholesale and retail full-service Health and Wellness CBD company located in Switzerland, which will provide exposure throughout Europe. The target company's product range includes vapes, oils, flower, and pet products.
CBD of Denver Inc plans to combine the two target companies with its existing wholesale business and spin them off into one publicly traded entity. CBD of Denver Inc is actively seeking new acquisition candidates, with a focus on acquiring profitable assets at attractive valuations to create value for shareholders.
The European CBD market is estimated to be worth around $2 billion, with Germany being the largest country, accounting for $1 billion or 50% of the market. Since Germany legalized medical cannabis in 2017, it has seen steady growth in patient numbers. The coalition government plans to legalize adult-use cannabis by the end of the year, and CBD of Denver Inc intends to take advantage of this opportunity.
After the acquisitions are complete, CBDD plans to combine the two target companies with CBD existing wholesale business to build a profitable independent CBD/Health and Wellness company that will benefit from the growth of this industry. The Company will then spin off this asset into its own public company, complete with its symbol and ISIN number, to all shareholders of record of CBD of Denver Inc.
CBD of Denver Inc Board Director Robert Roever stated: "We still see the CBD/Cannabis and Health and Wellness market improving after a rough couple of years and feel this is the right time to reengage the market. Axel Reinke will remain CEO of Libra 9 and his other nanotechnology companies to be renamed Berliner Innovation in the new future. The new CBD company will be spun off with separate management."
CBDD is actively seeking new acquisition candidates, with a focus on acquiring profitable Cannabis assets at attractive valuations to create value for shareholders. For more information and updates, follow CBD of Denver Inc, The Magic Lappen, and Libra 9 on social media or contact info@cbdofdenver.com.
About Libra 9 GmbH and The Magic Lappen:
The Magic Lappen provides maximum shine, streak free drying, and only requires water - no chemicals or detergents. The Magic Lappen is also chemical-free and lint-free; cleaning of all smooth and shining surfaces is robust and durable with a leather-like feel. Its innovative structure enables high absorption of dirt, dust, and grease and can be washed many times at 60°. The product is vegan and ecofriendly.
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.
Follow CBDD on LinkedIn and Twitter for more information and updates.
Follow The Magic Lappen on Instagram: @themagiclappen or shop on our website: The Magic Lappen
Contact Info: info@cbdofdenver.com
Information contained herein includes forward-looking statements. These statements relate to future events or future financial performance, involving known and unknown risks and you should not place undue reliance on these statements. Any forward-looking statement reflects our current views with respect to future events. We assume no obligation publicly about update or revise these forward-looking statements for any reason.
Corporate Logo
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/158383
https://www.otcmarkets.com/stock/CBDD/news/CBD-of-Denver-Inc-CBDD-Provides-Updates-on-Two-Letters-of-Intent-Signed-in-the-CBD-Cannabis-Industry?id=393075
CBD of Denver Inc. Reports January Revenue, Progress on Legislation in Germany and Business Highlights
Newsfile Corp.
Newsfile Corp
Denver, Colorado--(Newsfile Corp. - February 12, 2024) - CBD of Denver, Inc. (OTC Pink: CBDD), today announced revenue for January 2024 was approximately $350,000.00 USD, with Libra 9 GmbH generating approximately $50,000.00 USD in revenue and Luxora generating approximately $300,000.00 USD.
Last week, the leaders of Germany's coalition government publicly announced that they reached a final agreement on a bill to legalize cannabis, setting the stage for a vote in the final week of February with enactment expected in April. "We are very pleased about this announcement as it gives us clarity as we push forward with Luxora Solutions initiatives for the German market," stated Jan Schwager, CEO of Luxora.
Luxora Solutions will lease fully equipped production units to the coming Cannabis Clubs in Germany and provide a range of paid consulting services regarding cultivation, legal and compliance aspects to the clubs. Cannabis Clubs will be permitted to onboard up to 500 members who will be allowed to receive up to 50g of cannabis per month from their club, bringing the maximum monthly amount that one club can supply to its members to 25kg. Luxora Solutions production units will be laid out to produce up to 25kg of dried cannabis flower per 8-10 week harvest cycle. Each unit can be leased at a price of 25,000.00€ plus consumables per month. Depending on the size of the clubs it will take up to three production units per club to fulfill the required monthly amount of cannabis.
"With an estimated 1.48 million frequent cannabis users (1) in Germany and based on our discussion with prospective cannabis club founders throughout the last year we see a strong demand for the emerging Club model in Germany. Our goal is to establish Luxora as a trusted and reliable partner, ensuring that clubs who will be signing up with us will be able to supply product of the highest quality on par with recreational markets in the US and Canada" said Stefan Röhrl, Luxoras Chief Strategy officer. More information regarding Luxora solutions and its offering for cannabis clubs can be found on the newly created website https://www.luxora-solutions.de/en
Also under the new legislation, for the first time in close to a hundred years Germans will be allowed to grow Cannabis at home again. Based on 5.3 million cannabis users (2) in Germany and at three plants per person this change will open a new market for cannabis seeds and clones. "We`re excited to explore what new possibilities this will bring for HolistiCH with its unique catalogue of top tier genetics," states Justin Cassels Chief Production Officer at Luxora.
The Magic Lappen had a strong start to the new year as Libra 9 finalized a central listing agreement with EDEKA Germany. "This new listing makes the Magic Lappen available to more than 11,000 stores belonging to the EDEKA group in Germany. EDEKA will start promoting the Magic Lappen on its internal sales platform. We see this as a result of our continued partnership with EDEKA," states Axel Reinke, CEO of CBD of Denver. EDEKA has ordered an additional 900 units for a special spring-cleaning promotion in its stores.
Last Thursday, the Magic Lappen made its first appearance on live television, with Axel Reinke presenting the product during two one-hour slots on Channel 21. The Lappen was offered in a three-piece set, with more than 700 sets, totaling over 2,100 units, sold during the two broadcasts. "Channel 21 offers us the perfect platform to showcase the multitude of advantages that the Magic Lappen has to offer to a wide audience and to really let the product shine," emphasizes Mr. Reinke. The live sessions were recorded and will continue to be aired on TV in the coming weeks. The recording can be found at the following link: https://www.channel21.de/mediathek/showvideo/1800Channel20240208
Current updates:
We previously filed our notice of corporate action for our name change with the Financial Industry Regulatory Authority (Finra) and the company is working with Finra to finalize the process. We have responded to Finra's initial questions and comments, and company counsel is regularly in contact with Finra to move the process along.
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.
(1) DICE Study https://www.dice.hhu.de/fileadmin/redaktion/Fakultaeten/Wirtschaftswissenschaftliche_Fakultaet/DICE/Bilder/Nachrichten_und_Meldungen/Fiskalische_Effekte_Cannabislegalisierung_final.pdf
(2) The global Cannabis report, growth and trends through 20205, New Frontier data https://newfrontierdata.com/global-cannabis/#:~:text=Cannabis%20consumers%20globally%20spent%20an,in%20illicit%20or%20unregulated%20markets
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/197590
SOURCE CBD of Denver Inc.
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https://www.otcmarkets.com/stock/CBDD/news/story?e&id=2764208
#1 PATRIOTS_RSOX FAN
4 days ago
NEWS
CBD of Denver Inc. Announces Annual Disclosure and Filing of Financial Statements
Newsfile Corp.
Newsfile Corp
Denver, Colorado--(Newsfile Corp. - May 2, 2024) - CBD of Denver, Inc. (OTC Pink: CBDD) has filed its financial results for the year ended December 31, 2023. The results highlight significant financial improvements and strategic achievements.
Financial Highlights:
Total Current Assets increased to $117,218 in 2023, up from $28,043 in 2022, marking significant progress in strengthening the company's balance sheet.
Gross Profit for 2023 was $595,417, a significant recovery from a gross loss of $(284,734) in 2022, due to a 27% increase in sales and reduction in Cost of Goods Sold, reflecting improved operational efficiency and product demand.
Net Income Before Provision for Income Tax showed improvement with a loss of $(377,729) in 2023, compared to a loss of $(3,257,710) in 2022. This underscores the company's efforts to enhance operational efficiency and improve cost management. Strategies include adopting a lean approach to minimize fixed expenses to the absolute bare minimum and managing variable expenses prudently, all while aiming to boost top-line growth.
Operational Highlights:
Net Income from Operations showed improvement with a reduced loss in 2023 compared to 2022. These figures represent diligent efforts in operational adjustments and cost management.
Accounts Payable decreased significantly to $297,164 in 2023, down from $961,651 in 2022.
"It is with great pride that I report on the robust financial performance and strategic achievements of CBD of Denver for the year 2023," said Axel Reinke, CEO of CBD of Denver. "The transformation from substantial losses in the previous year reflects the determination and adaptability of our team. We remain dedicated to driving growth, maximizing shareholder value, and spearheading innovation in our industry."
Three notes (Capitoline Ventures II LLC, Goldberg AG, and Pascal Siegenthaler) have been extended for an additional two years. These notes are held by friendly debt holders who have, and the company believes, will continue, to support CBD of Denver Inc.
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.
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