Denver, Colorado – August 24, 2021 (Newsfile Corp.) (Investorideas.com Newswire) CBD of Denver, Inc. (OTC Pink: CBDD), a full-line CBD and hemp oil company and a producer and distributor of cannabis and CBD products in Switzerland and Europe, is pleased to announce its financial and business highlights for the second quarter ended June 30, 2021.
Second Quarter 2021 Financial Highlights
- Revenue increased 2,803% to over $14.4 million for Q2 2021 compared to $517,025 in Q2 2020
- Gross profit increased 975% to over $1.5 million for Q2 2021 compared to $154,203 in Q2 2020
- Net income increased 641% to over $1.2 million for Q2 2021 compared to a loss of $189,704 in Q2 2020
Second Quarter 2021 Business Highlights
- The Company successfully increased its customer base from 20 customers in early 2020 to more than 400 loyal recurring customers by end of Q2 2021.
- The Company’s retailer network, which began with two shops in March 2000, expanded to a loyal customer base of 26 shops in Switzerland, 41 shops in Germany, 30 shops in France, 2 shops in Italy, 1 shop in Poland and 2 shops in Guadeloupe, for a total amount of more than 100 shops, as of the end of Q2 2021.
- The Company is the premier supplier to 60 wholesalers across Europe as of the end of Q2 2021, up from just five wholesalers accounting for 60% of its revenue in early 2020.
- Rockflowr Production started with its own monthly production of 25-30kg of high-grade indoor hemp flowers in May 2020 and as of the end of Q2 2021 has grown to over 20,000 lamps with 1000 watt each (total capacity of 20 million watt or 20 tons of indoor production per year) of outsourced production capacity supplying our customer base.
Financial Statements
The Below is from the Unaudited Condensed Interim Financial Statements for the Three and Six Months Ended June 30, 2021 and 2020; Please Refer to the Complete Report, Including the Notes, Other Statements and Other Contents Therein.
Follow CBDD on Instagram: @CBDofDenver_Inc @Rockflowr @RockflowrRetail
CBD of Denver, Inc., Rockflowr GmbH and Swiss Industry Ventures AG are now also on LinkedIn.
About CBD of Denver, Inc.
CBD of Denver, Inc. (OTC Pink: CBDD) a full-line CBD and Hemp oil company (“CBDD”) and a producer and distributor of Cannabis and CBD products in Switzerland, Europe and the US. CBDD is focused on using equity to acquire profitable Swiss assets at attractive valuations to create value for all our shareholders driven by a passion to improve lives and strengthen communities by unleashing the full potential of cannabis.
Through our brand Rockflowr and BlackPearlCBD we reach our consumers and have built up a strong customer base by focusing on top quality products and meaningful customer relationships.
Black Pearl CBD has 0% THC but is not an Isolate where the THC is stripped from the product rendering it ineffective. We use a proprietary technique adding terpenes as the activation ingredient, resulting in a product that is the finest in the industry and only available at www.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.
Contact
Investor Relations
investors@cbdofdenver.com
Marcel Gamma
marcel@cbdofdenver.com
Todd McKnight
RedChip Companies
1-800-733-2447
todd@redchip.com
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