Denver CBD (OTCMKTS: CBDD) has been accumulating in recent weeks and has recently broken north of its trading range. Shares had fallen to a low of $ 0.0016 from near-close to $ 0.04 in early 2021, and the cannabis market looks ripe for a rebound as there are 8 states with marijuana legalization measures. ballet, including Texas, Oklahoma, South Dekota, Ohio, North Dekota, Nebraska, Missouri, Maryland, Iowa, and Arkansas.
CBDD arrived at the OTC in November 2018 and Microcapdaily reported it at the time, stating in our November 16 article “CBDD is a publicly traded company listed on the OTC markets and listed on the CBDD stock symbol. The company is currently developing innovative CBD and social media products. CBDD is the new ticker for VGMI The company is run by new CEO Nicholas Sprung, a serial entrepreneur who used to be the CEO of a ski company with an ambitious vision to make Denver CBD a leader. in the booming CBD space.The company has established its main corporate office at 4610 South Ulster Street, Suite 150, Denver, CO 80237, where it has leased office space.
Earlier this year, CBDD reported that it presented the audited financial statements for fiscal year 2021 on April 15, 2022 with a record revenue of $ 23.5 million and a net income of $ 0. , $ 33 million. Management accredits a fast-growing market for its success and profitable first year. According to Denver CBD CEO Paul Gurney: “As our domestic momentum continues to grow, the market itself is providing ever-increasing backwinds. That same week, the Swiss authorities gave the green light to a pilot of “This trend is potentially spreading across Switzerland and, ultimately, across Europe, and the Denver CBD is in an ideal position to take advantage of rapidly evolving opportunities.” , added Gurney. “I want to thank our shareholders for their continued support. I firmly believe that we are on a great track record and look forward to reporting on our ongoing successes.”
Although the financial results for the year 2021 were exceptional, the company was negatively affected in the first quarter of 2022, due to the reintroduction of COVID controls in Europe and the pressure of prices on the flower of CBD. These trends have already been reversed and the company’s revenue in April almost surpassed revenue for the entire first quarter as prices began to stabilize. Denver’s CBD generated revenue of $ 908,086 during the first three months of 2022, with a net loss of $ 314,248, primarily due to a $ 102,856 inventory loss. CEO Paul Gurney said: “On the surface, the numbers don’t tell the whole story and should be seen in context. While revenue with a 3.5% margin doesn’t usually lead to an overall return, my mandate is to transform this commodity trader business into a higher-margin health and wellness power in Europe and Asia. ”
– Rice🇺🇸 (@ 84mongoose) June 3, 2022
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The company recently acquired 100% of Mellow, a CBD e-commerce distribution platform and technology company, with capabilities in the UK, Europe and Asia, for an undisclosed amount. The acquisition is expected to close in the second quarter of 2022. With operations in Asia, Mellow offers CBDD entry into the rapidly evolving CBD markets in the fast-growing Asia Pacific region. The Mellow technology stack will accelerate the company’s plans to become the benchmark for cannabis in all parts of the value chain in international markets. its acquisition will combine technology and retail e-commerce along with supply chain manufacturing and infrastructure to create a turnkey solution for the CBD industry across Europe. According to CBDD management, “Mellow is also the leading multi-channel distribution partner of choice for CBD and hemp-oriented global brands in Asia, with our own network of physical stores and e-commerce channels. This is a work global “.
The company has recently expanded into the German medical cannabis market with the hiring of Bijan Hezarkhani to lead Denver’s CBD growth in this fast-growing European market. Bijan has extensive experience in the cannabis industry, including setting up a medical cannabis franchise in Germany. For the past three years he has been the director of business development at Khiron Life Sciences, visiting doctors and pharmacies in Germany to build Khiron’s medical cannabis business. He previously spent time at Canopy Growth as a business analyst covering Europe. Bijan will be in charge of the company’s medical cannabis sales in Germany and will be headquartered in Frankfurt.
Germany officially approved medical cannabis in 2017. Germany is the largest medical cannabis market in Europe with 15 tons per year and generated revenues of approximately US $ 300 million in 2021. According to Forbes magazine, more than one million of patients in Germany will have access to medical cannabis by 2024, with a German medical market valued at 7.7 billion euros in 2028. It seems that the German market is approaching the legalization of adult use, a market estimated at 400 tons per year, which makes it essential to have the infrastructure in the country. With 83 million people, Germany is the most attractive market in Europe for cannabis.
On May 26, CBDD announced that Mellow had signed an agreement with UK luxury brand CBD OTO to act as a distribution partner in Asia. London-based OTO is a top-notch consumer CBD wellness brand, specializing in delivering sophisticated products to the fancy end of the industry’s price spectrum. Mellow aims to offer the OTO brand experience through its Soft Asia division, which operates outside the Hong Kong market and already operates a network of physical retail stores under the Soft Flag, as well as a trading post. electronic.
CBDD CEO Paul Gurney said: “We are very excited to welcome the OTO brand into Hong Kong’s soft brand portfolio. This agreement will combine retail and technology distribution / e-commerce to enable Mellow continue the great work that the OTO team has done in other markets and in doing so will position OTO as the leading brand of CBD and luxury wellness in the Asian markets .. There is no other company present in the sector in “We are very pleased to be able to make this announcement and we have a lot more to look forward to.”
Microcapdaily reported on CBDD in November 2020 at the $ 0.002 level just before shares soared to more than $ 0.03 per share in December. We told our article “CBD of Denver Inc. (OTCPINK: CBDD) is making an explosive move up the charts after the company announced a record revenue of $ 5,963,820.00 with a gross profit of $ 484,666.00 for third quarter ending September 30, 2020. CBDD is a booming player in the global CBD oil and booming CBD consumer health market, which is expected to reach $ 123.2 billion in 2027, with a CAGR growth of 25.6% over the forecast period It is easy to see why penny stock speculators are so optimistic about CBDD, the subsidiary of Rockflowr GmbH is rapidly becoming one of the leading wholesalers. CBD in Switzerland. Rockflowr obtains its hemp flower from the United States in large quantities and its distribution has grown to more than 7 European countries. Rockflowr GmbH generated most of CBDD’s revenue. “
We’re very excited to be able to make this announcement and we have a lot more ahead of us, ”said Paul Gurney, CEO of Denver CBD.
Denver CBD signs license agreement with UK luxury CBD brand OTO https://t.co/yxYdOgZTPz
– A10Vet (@ A10_Vet1) May 26, 2022
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It is currently listed on the Denver CBD’s $ 31 million market valuation it has come a long way since we first reported it in 2018, when the company was nothing more than an ambitious vision. CBDD had a stellar year in 2021 with a record revenue of $ 23.5 million and a net income of $ 0.33 million. Although the financial results for the year 2021 were exceptional, the company was negatively affected in the first quarter of 2022, due to the reintroduction of COVID controls in Europe and the pressure of prices on the flower of CBD. These trends have already been reversed and the company’s revenue in April almost surpassed revenue for the entire first quarter as prices began to stabilize. CBDD has accumulated over the past few weeks and recently broke north of its trading range. Shares had fallen to a low of $ 0.0016 from near-close to $ 0.04 in early 2021, and the cannabis market looks ripe for a rebound as there are 8 states with marijuana legalization measures. ballet, including Texas, Oklahoma, South Dekota, Ohio, North Dekota, Nebraska, Missouri, Maryland, Iowa, and Arkansas. Microcapdialy In November 2020, when the stock was $ 0.002, just before it surpassed $ 0.03 in December 2020, he turned his attention to CBDD. We’ll keep you updated on CBDD when more details come out, so make sure you’re subscribed to Microcapdaily to find out what’s happening with CBDD.
Disclosure: We have no long or short position in CBDD and have not been compensated for this article.