CBDD) releases financial and business highlights for the second quarter of 2021
Denver, Colorado – August 24, 2021 (Newsfile Corp.) (Investorideas.com Newswire) CBD of Denver, Inc. (OTC Pink: CBDD), a comprehensive CBD and hemp oil company and a producer and distributor of cannabis and of CBD products in Switzerland and Europe, is pleased to announce its financial and commercial highlights for the second quarter ended June 30, 2021.
Second Quarter 2021 Financial Highlights
- Revenue increased by 2,803% to over $ 14.4 million in the second quarter of 2021, from $ 517,025 in the second quarter of 2020
- Gross margin increased 975% to over $ 1.5 million in the second quarter of 2021, from $ 154,203 in the second quarter of 2020
- Net income increased 641% to over $ 1.2 million in the second quarter of 2021, compared to a loss of $ 189,704 in the second quarter of 2020
Highlights of the second quarter of 2021
- The Company has successfully grown its customer base from 20 customers at the start of 2020 to more than 400 loyal repeat customers by the end of the second quarter of 2021.
- The Company’s retail network, which began with two stores in March 2000, has grown to a loyal customer base of 26 stores in Switzerland, 41 stores in Germany, 30 stores in France, 2 stores in Italy, 1 store in Poland and 2 stores in Guadeloupe, for a total of more than 100 stores, at the end of Q2 2021.
- The Company is the leading supplier to 60 wholesalers across Europe at the end of the second quarter of 2021, compared to just five wholesalers representing 60% of its turnover at the start of 2020.
- Rockflowr Production started with its own monthly production of 25-30 kg of high quality indoor hemp flowers in May 2020 and by the end of Q2 2021 has grown to over 20,000 1000 watt lamps each (total capacity of 20 million watts or 20 tonnes of indoor production per year) of outsourced production capacity supplying our customers.
The following is taken from the unaudited condensed interim financial statements for the three and six months ended June 30, 2021 and 2020; Please refer to the full report, including any notes, other statements and other content therein.
Follow CBDD on Instagram: @CBDofDenver_Inc @Rockflowr @RockflowrRetail
CBD from Denver, Inc., Rockflowr GmbH and Swiss Industry Ventures AG are now also on LinkedIn.
About Denver CBD, Inc.
CBD of Denver, Inc. (OTC Pink: CBDD), a full-line CBD and hemp oil (âCBDDâ) company and producer and distributor of cannabis and CBD products in Switzerland, Europe and the United States. CBDD focuses on using equity to acquire profitable Swiss assets at attractive valuations to create value for all of our shareholders driven by a passion to improve lives and strengthen communities by unleashing the full potential of the cannabis.
Through our Rockflowr and BlackPearlCBD brands, we reach our consumers and have built 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 THC is removed from the product, making it ineffective. We use a proprietary technique adding terpenes as an activating ingredient, resulting in a product that is the best in the industry and only available at www.cbdofdenver.com
The information contained in this document 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 such statements. All forward-looking statements reflect our current views regarding future events. We assume no public obligation to update or revise these forward-looking statements for any reason.
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