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Both probably dead due to miserable existence.
Moscow bound!
SIPC
The Badguy
Stockpile the 88s for the SIPC offensive
The Badguy
HUGE MJ development news!
https://www.nytimes.com/2024/04/30/us/politics/justice-department-reclassify-marijuana.html
CANB
The Badguy
I could care less what miserable buttholechaser or pennymasturbater thinks, esp about CANB
The ignore button is beautiful!
MJ to schedule 3 very soon
CANB
The Badguy
CANB NASDAQ
Just put those 2 clowns on ignore. Best thing I ever did!
The Badguy
Sipp Industries Announces Distribution Agreement for Patented SinuSave® CBD Nasal Spray
Press Release | 01/23/2024
COSTA MESA, Calif., Jan. 23, 2024 (GLOBE NEWSWIRE) -- Sipp Industries, Inc. (OTC: SIPC), a trailblazing corporation, renowned for its innovation in the manufacturing and distribution of commercial and consumer products within the cannabis industry, is pleased to announce a distribution agreement with SinuSave® for its SinuSave® CBD Nasal Spray products.
SinuSave® CBD Nasal Spray, offering a range of patented CBD nasal spray products in 500mg and 1000mg strengths, is poised to transform the wellness industry. Through this strategic partnership, SIPP Industries solidifies its commitment to offering cutting-edge, premium-grade products to consumers seeking innovative health solutions.
SinuSave® CBD is proven to be 'bacteriostatic' and 'bactericidal.' The spray consists of CBD combined with a patented composition of nine essential oils. CBD may provide relief from pain and symptoms associated with allergies, colds, sinusitis, and discomfort resulting from air pollution. SinuSave® CBD is the only all-natural drug-free patented product specifically designed for daily nasal hygiene of its type.
"This partnership with SinuSave® represents an exciting leap forward for SIPP Industries," said Jakob Jorgensen, CEO of SIPP Industries. "We are incredibly proud to align ourselves with a product that has the potential to transform the well-being of individuals seeking advanced, effective solutions for nasal health. The patent-pending, nano-emulsified CBD technology showcased in SinuSave's nasal spray is a game-changer, and we are thrilled to be at the forefront of its distribution," Jorgensen concluded.
SinuSave® CBD Nasal Spray offers a unique fusion of innovation and wellness. It leverages the benefits of Original SinuSave®, which has been supporting nasal health since 2017, in a novel application of cannabidiol. Its proprietary formulation demonstrates the dedication of both SIPP Industries and SinuSave® to pioneering accessible, high-quality products that cater to the evolving needs of consumers.
"The SinuSave® CBD Nasal Spray is set to revolutionize how individuals approach nasal health. With our distribution agreement with SIPP Industries, we are excited to reach more consumers and make a positive impact on their well-being," stated Lou Lobel, President of SinuSave®. "This strategic partnership is poised to empower consumers seeking alternative, natural solutions for nasal care. It showcases a shared commitment to innovation, quality, and excellence in the wellness landscape," added Lobel.
The global nasal spray market was valued at $24.5 billion in 2022 and expect to grow at a CAGR of 6.7% according to Verified Market Research.
SIPP Industries will be responsible for the sales, marketing, and distribution of the products. The product line will soon be available for purchase both online and through retail stores. Additionally, the Company is actively pursuing international distribution opportunities for SinuSave®.
About Sipp Industries, Inc.
Sipp Industries is a multifaceted corporation specializing in manufacturing and distribution of commercial and consumer products within the cannabis industry.
Website: https://sippindustries.com
Facebook: https://www.facebook.com/SippIndustries
Twitter: @SippIndustries
About SinuSave®
Actual Natural Health & Wellness Products, Inc., dba SinuSave®, is an innovative player in the global nasal spray market. The company specializes in developing the SinuSave® product line, featuring a patented, all-natural, drug-free nasal hygiene spray. This unique product is crafted from a blend of essential oils designed to clear nasal passages and relieve congestion without causing irritation.
For more information about SinuSave® and its family of drug free nasal sprays please visit https://sinusave.com/.
https://www.marijuanamoment.net/hemp-industry-pushes-congress-to-hold-fda-accountable-with-hearing-on-cbd-regulation-inaction/
Herr Panzer, fire up the Tigers!
The Badguy
https://www.naturalproductsinsider.com/supplement-regulations/hemp-groups-request-house-energy-and-commerce-committee-hearing
Calm, cool and collected
The Badguy
https://www.naturalproductsinsider.com/supplement-regulations/hemp-groups-request-house-energy-and-commerce-committee-hearing
Patients always prevails.
The Badguy
Calm, cool and collected
Entire MJ sector has bottomed out.
Washington needs a BIG toilet flush.
.
The Badguy
Herr Panzer, Von Paulus needs help! Let the counter offensive begin!
SIPC
The Badguy
LMAO! Says, "Mr. Moral Authority!" Pffff...
Probably lost your entire life's savings gambling on the OTC and now you're pissed off and maintain an uninterrupted negative onslaught against every stock listen on the OTC. Think I'm wrong folks? Look at his pathetic post history with ANY stock. ALLLLLLLLLL negative! What a miserable soul.
But, I guess I'd be miserable too if my ONLY enjoyment in life was to relentlessly post negstive comments on ihub and my only financial sustenance came from social security checks.
I'm sure my signature photo makes you blood boil too. Lmao! Awwww
CANB. NASDAQ
The Badguy
Blitz coming
The Badguy
Canb
Nasdaq
The Badguy
Can B Corp. Secures 1.8 Million Pounds of Biomass for Awarded Contract With One Bad Moon Rising
Press Release | 07/20/2023
Processing Has Already Started
HICKSVILLE, NY, July 20, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Can B Corp. (OTCQB: CANB) (“Can B” or the “Company”), a health and wellness company specializing in developing, producing, and selling hemp-derived cannabinoid products, is pleased to announce its newly awarded contract with One Bad Moon Rising and purchase of 1.8 million pounds of biomass.
To initially service the contract, Can B purchased 1.8 million pounds of biomass that is ready for immediate processing. The biomass is stored indoors in 1,000-pound supersacks in Ft. Morgan, Colorado (80 miles northeast of Denver).
Marco Alfonsi, Can B’s Chief Executive Officer, stated, “We are very excited for this new opportunity with One Bad Moon Rising. We were able to purchase the biomass with a market price of $2.7 million by issuing Rule 144 restricted stock in payment of the purchase price. The biomass potency was tested and exceeded minimum processing standards. We look forward to utilizing our fully integrated operations to result in the production of isomers.”
Patrick Barry, Chief Investment Officer of One Bad Moon Rising, stated, “We look forward to working closely with Can B as we are very impressed with their fully integrated vertical operations in Colorado. Their facilities in Ft. Morgan and Mead, Colorado, are now capable and ready to process biomass all the way through to isomers. Our network of relationships is seeking isomers, and we are excited to be able fulfill that demand with our new contract with Can B.”
About Can B Corp.
Can B Corp. (OTCQB: CANB) is a health & wellness company providing the highest quality hemp-derived cannabinoid products, including under its own brands of Canbiola, Seven Chakras, NuWellness, Pure Leaf Oil, and Duramed. Can B utilizes multi-channel distribution to reach consumers, including medical facilities, doctor offices, retailers, online, and direct. Can B Corp. operates R&D and production facilities in Lacey, WA, and Florida. To learn more about Can B Corp. and our comprehensive line of high-quality products, please visit: Canbiola.com and www.CanBCorp.com, follow Can B Corp on Instagram and Facebook, or visit one of the 1,000+ retail outlets that carry Can B Corp. products.
For more information about Can B Corp., please visit: CanBCorp.com
Twitter @CanBCorp
Instagram @canbcorp
Facebook @ Can B Corp
YouTube
The Badguy
Appears to be the prelude to the summer offensive in the East, Herr Panzer
SIPC
The Badguy
Again, calm cool and collected. OTC is DEAD due this F-ed up economy.
Things will get better once the toilet is flushed in 2024!
SIPC
The Badguy
Can B Corp. Reports Growth of 45% to Company All-Time High $6.7 Million Annual Revenue
Press Release | 04/19/2023
Led by Significant Increase in Duramed
Adjusted EBITDA Loss Decreased by 25% to $2.1 Million
HICKSVILLE, NY, April 19, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Can B Corp. (OTCQB: CANB) (“Can B” or the “Company”), a health and wellness company specializing in developing, producing, and selling hemp-derived cannabinoid products, today announced the Company's financial results for the twelve months ended December 31, 2022.
Key Financial Highlights for 2022
Revenue increased 45% to $6.7 million.
Gross profit decreased 13% to $2.6 million.
Gross margin decreased to 39.1%, due to a higher revenue percentage mix from Duramed.
Adjusted EBITDA loss decreased by 25% to $2.1 million.
Accounts receivable at $6.6 million.
Inventory at $2.0 million.
Total assets at $15.6 million.
Total stockholders’ equity at $2.7 million.
Key Business Highlights for 2022
Solidified and integrated vertical processing capabilities.
Signed Manufacturing and Distribution Agreement for Superfood Products with Forever Brands and Brooke Burke via BB Body, Inc.
Consolidated hemp processing operations from Florida and Tennessee to Colorado.
Expanded CBD isolate production into new isomers in expanded Colorado lab.
Expanded durable medical devices to include back support devices for Duramed division.
Corporate Debt Restructuring to Position for Uplisting to National Securities Exchange
Through the restructuring, Can B raised $1.55 million of new capital and extended previously due notes payable totaling $7.0 million to September 1, 2023, and December 31, 2024, to give the Company an additional window to deploy the capital from the new raise. A key component of the restructuring was the sale of $5.7 million of accounts receivable from Can B’s Duramed Inc. and Duramed MI, LLC divisions to fund payments on two promissory notes for $2.5 million and $1.5 million due to Can B Corp’s largest institutional investor.
Highlight Growth Opportunities
The implementation of the business plan across all three operating divisions will allow the Company to get on a more solid footing for future growth and expansion. Explicitly, some of the new working capital will be used for the installation of existing hemp processing equipment moved in the 4th quarter of 2022 during the consolidation of the Company’s Tennessee and Florida operations into Colorado. The new equipment should come online early in the 2nd quarter of 2023 to begin processing hemp biomass which the Company previously acquired and has in storage. Additionally, the Duramed Division will begin acquiring new medical devices to deploy through its doctor network in New York and Michigan. The white label division currently in the midst of a national roll-out of the Longevity by Brooke Burke Body needs additional processing capacity and will be receiving new equipment in its Lacy, WA operations.
Management Commentary
Marco Alfonsi, Can B’s Chief Executive Officer, stated, “2022 was a transition year for us, for as we increased revenue as expected and achieved record annual revenue of $6.7 million, we had to deal with consolidating business and integrating our acquisitions. We are pleased with the position of our business heading into the remainder of 2023.”
Alfonsi concluded, “While we generated an all-time high in annual revenue, we were able to also reduce our cash burn as demonstrated by the 25% decrease in Adjusted EBITDA loss to $2.1 million. Our team made great strides over the past several months integrating and ramping up the various operations. We strategically acquired additional processing equipment to complete our vertical hemp processing capabilities from biomass to crude to distillate to isolate to isomers- all now located in our Colorado operation. We are executing on major strategic agreements, such as Pure Health Products’ deal with Brooke Burke Superfood, and are very excited about the demand and results thus far. As we look forward in 2023, we are enthusiastic regarding the growth opportunities and prospects for our business and are in position for an uplisting to a national securities exchange.”
Financial Results for the Twelve Months Ended December 31, 2022:
Revenue: For the twelve months ended December 31, 2022, revenue was $6.7 million, an increase of $2.1 million, or 45%, compared with $4.6 million for the twelve months ended December 31, 2021. The increase is largely due to an increase in the Company’s Duramed division of $1.8 million due to surgical procedures and healthcare services which enabled the Company to continue to grow within the ultrasound device sales associated with patient recovery.
Gross Profit: For the twelve months ended December 31, 2022, gross profit was $2.6 million, a decrease of $0.4 million, or 13%, compared with $3.0 million for the twelve months ended December 31, 2021. The resulting gross margin was 39.1%, compared with 65.0% for the twelve months ended December 31, 2021, due to higher revenue percentage mix from Duramed.
Total Operating Expenses: For the twelve months ended December 31, 2022, total operating expenses were $16.8 million, an increase of $3.5 million, or 27%, compared with $13.3 million for the twelve months ended December 31, 2021. The increase in operating expenses was primarily due to the non-cash stock-based compensation expense of $7.2 million and $1.4 million of depreciation of property and equipment related to the acquisition of property and equipment via asset purchases.
Operating Loss: For the twelve months ended December 31, 2022, operating loss was $14.2 million, an increase of $3.9 million, or 38%, compared with an operating loss of $10.3 million for the twelve months ended December 31, 2021. Contributing to the increase in operating loss was additional incurred costs to start the Company’s operations in Miami and Tennessee during the first quarter of 2022 and a decrease in the Company’s gross margin due to unforeseen integration issues at the Company’s operations in Miami and Tennessee resulting in the relocation and consolidation in Colorado.
Adjusted EBITDA Loss: For the twelve months ended December 31, 2022, Adjusted EBITDA loss was $2.1 million, a decrease of $0.7 million, or 25%, compared with an Adjusted EBITDA loss of $2.8 million for the twelve months ended December 31, 2021, after deducting a total of $12.1 million in non-cash and one-time expenses, including $9.6 million non-cash stock-based compensation, $1.4 million depreciation, $0.5 million amortization, $0.3 million impairment and $0.3 million loss on sale of property and equipment.
Net Loss: For the twelve months ended December 31, 2022, net loss was $14.9 million, or ($4.18) per share, an increase of $2.8 million, or 23%, compared with a net loss of $1.2 million, or a net loss of ($9.06) per share, for the twelve months ended December 31, 2021. On a per-share basis this loss is a 46% reduction over 2021.
About Can B Corp.
Can B Corp. (OTCQB: CANB) is a health & wellness company providing the highest quality hemp-derived cannabinoid products, including under its own brands of Canbiola, Seven Chakras, NuWellness, Pure Leaf Oil, and Duramed. Can B utilizes multi-channel distribution to reach consumers, including medical facilities, doctor offices, retailers, online, and direct. Can B Corp. operates R&D and production facilities in Lacey, Washington, and Florida. To learn more about Can B Corp. and our comprehensive line of high quality products, please visit: Canbiola.com and www.CanBCorp.com, follow Can B Corp on Instagram and Facebook, or visit one of the 1,000+ retail outlets that carry Can B Corp. products.
For more information about Can B Corp., please visit: CanBCorp.com
Twitter @CanBCorp
Instagram @canbcorp
Facebook @ Can B Corp
YouTube
Stay calm. NASDAQ
The Calm Badguy
OMG CANB please hurry to NASDAQ!!!! That would be an amazing day for us at IHUB!!
PLEASE HURRY!!!!!
CANB
NASDAQ
The Badguy
Great news worthy of a repost:
Can B Corp. Completes Corporate Debt Restructuring to Position for Uplisting to National Securities Exchange
Press Release | 03/15/2023
HICKSVILLE, NY, March 15, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Can B Corp. (OTCQB: CANB) (“Can B” or the “Company”), a health and wellness company specializing in developing, producing, and selling hemp-derived cannabinoid products and durable medical devices, is pleased to announce it has successfully completed a corporate debt restructuring.
Through the restructuring, Can B raised $1.55 million of new capital and extended previously due notes payable totaling $7.0 million to September 1, 2023, and December 31, 2024. Specifically, three Promissory Notes issued to three funds in early 2022 and three Promissory Notes issued to three private investors in late 2022 were restructured to extend maturity dates to late in 2023 to give the Company an additional window to deploy the capital from the new raise.
The implementation of the business plan across all three operating divisions will allow the Company to get on a more solid footing for future growth and expansion. Explicitly, some of the new working capital will be used for the installation of existing hemp processing equipment moved in the 4th quarter of 2022 during the consolidation of the Company’s Tennessee and Florida operations into Colorado. The new equipment should come online early 2nd quarter of 2023 to begin processing hemp biomass which the Company previously acquired and has in storage. Additionally, the Duramed Division will begin acquiring new medical devices to deploy through its doctor network in New York and Michigan. The white label division currently in the midst of a national roll-out of the Longevity by Brooke Burke Body needs additional processing capacity and will be receiving new equipment in its Lacy, WA operations.
A key component of the restructuring was the sale of $5.7 million of accounts receivable from Can B’s Duramed Inc. and Duramed MI, LLC divisions to fund payments on two promissory notes for $2.5 million and $1.5 million due to Can B Corp’s largest institutional investor.
Marco Alfonsi, Can B’s Chief Executive Officer, stated, “We are very pleased with the conclusion of our restructuring, which provides an inflow of capital and a major clean-up of our balance sheet. The debt consolidation and extension give us ample runway to uplist to a national securities exchange. We plan on accelerating on that path once we file our 10K for our year ended December 31, 2022, and 10Q for our first quarter ended March 31, 2023.”
Spartan Capital Securities acted as the placement agent for the financing.
About Can B Corp.
Can B Corp. (OTCQB: CANB) is a health & wellness company providing the highest quality hemp-derived cannabinoid products, including under its own brands of Canbiola, Seven Chakras, NuWellness, Pure Leaf Oil, and Duramed. Can B utilizes multi-channel distribution to reach consumers, including medical facilities, doctor offices, retailers, online, and direct. Can B Corp. operate R&D and production facilities in Lacey, WA, and Florida. To learn more about Can B Corp. and our comprehensive line of high-quality products, please visit: Canbiola.com and www.canbcorp.com, follow Can B Corp on Instagram and Facebook or visit one of the 1,000+ retail outlets that carry Can B Corp. products.
For more information about Can B Corp., please visit CanBCorp.com.
Twitter @CanBCorp
Instagram @canbcorp
Facebook @ Can B Corp
YouTube
The Badguy
Calm, cool and collected
SIPC
The Badguy
NASDAQ
Great update
CANB
NASDAQ
The Badguy
Can B Corp. Completes Corporate Debt Restructuring to Position for Uplisting to National Securities Exchange
Press Release | 03/15/2023
HICKSVILLE, NY, March 15, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Can B Corp. (OTCQB: CANB) (“Can B” or the “Company”), a health and wellness company specializing in developing, producing, and selling hemp-derived cannabinoid products and durable medical devices, is pleased to announce it has successfully completed a corporate debt restructuring.
Through the restructuring, Can B raised $1.55 million of new capital and extended previously due notes payable totaling $7.0 million to September 1, 2023, and December 31, 2024. Specifically, three Promissory Notes issued to three funds in early 2022 and three Promissory Notes issued to three private investors in late 2022 were restructured to extend maturity dates to late in 2023 to give the Company an additional window to deploy the capital from the new raise.
The implementation of the business plan across all three operating divisions will allow the Company to get on a more solid footing for future growth and expansion. Explicitly, some of the new working capital will be used for the installation of existing hemp processing equipment moved in the 4th quarter of 2022 during the consolidation of the Company’s Tennessee and Florida operations into Colorado. The new equipment should come online early 2nd quarter of 2023 to begin processing hemp biomass which the Company previously acquired and has in storage. Additionally, the Duramed Division will begin acquiring new medical devices to deploy through its doctor network in New York and Michigan. The white label division currently in the midst of a national roll-out of the Longevity by Brooke Burke Body needs additional processing capacity and will be receiving new equipment in its Lacy, WA operations.
A key component of the restructuring was the sale of $5.7 million of accounts receivable from Can B’s Duramed Inc. and Duramed MI, LLC divisions to fund payments on two promissory notes for $2.5 million and $1.5 million due to Can B Corp’s largest institutional investor.
Marco Alfonsi, Can B’s Chief Executive Officer, stated, “We are very pleased with the conclusion of our restructuring, which provides an inflow of capital and a major clean-up of our balance sheet. The debt consolidation and extension give us ample runway to uplist to a national securities exchange. We plan on accelerating on that path once we file our 10K for our year ended December 31, 2022, and 10Q for our first quarter ended March 31, 2023.”
Spartan Capital Securities acted as the placement agent for the financing.
About Can B Corp.
Can B Corp. (OTCQB: CANB) is a health & wellness company providing the highest quality hemp-derived cannabinoid products, including under its own brands of Canbiola, Seven Chakras, NuWellness, Pure Leaf Oil, and Duramed. Can B utilizes multi-channel distribution to reach consumers, including medical facilities, doctor offices, retailers, online, and direct. Can B Corp. operate R&D and production facilities in Lacey, WA, and Florida. To learn more about Can B Corp. and our comprehensive line of high-quality products, please visit: Canbiola.com and www.canbcorp.com, follow Can B Corp on Instagram and Facebook or visit one of the 1,000+ retail outlets that carry Can B Corp. products.
For more information about Can B Corp., please visit CanBCorp.com.
Twitter @CanBCorp
Instagram @canbcorp
Facebook @ Can B Corp
YouTube
The Badguy
Calm, cool and collected. Had an excellent vacation with grand salami $$$
MJ/Hemp sector will see a resurgence. Not a CANB issue but a market and economy issue.
CANB
The Badguy
Excellent vacation! Now back to SIPC!
I know the entire MJ market has sunk. This isn't a "SIPC thing." Smart people know that fact.
SIPC
.
The Badguy
Calm, cool and collected. I know the ENTIRE sector is down and has been for over 2 years so any bad talk is just bullshit rhetoric.
CANB
NASDAQ
The Badguy
Again, I make money and SIPC will be another money maker. Ex: my photo below was taken in October 2016. As you can see I have 3MIL shares of RXM*. Purchased those shares at .005
In March 2018 I sold all 3MIL shares between .18 and .21
Made over $600,000 PROFIT!
It was a very nice feeling!
VERY NICE! LOL!!!! Awwww
Anyhow, same will happen with SIPC
VISION
PATIENCE
SIPC
The Badguy
More to come indeed! Again, I make money and CANB will be another money maker. Ex: my photo below was taken in October 2016. As you can see I have 3MIL shares of RXM*. Purchased those shares at .005
In March 2018 I sold all 3MIL shares between .18 and .21
Made over $600,000 PROFIT!
It was a very nice feeling!
VERY NICE! LOL!!!! Awwww
Anyhow, same will happen with CANB
VISION
PATIENCE
CANB
The Badguy
Stalingrad? Na, I think the best is yet to come, Herr Panzer
New offensive coming
SIPC
The Badguy
Much more to come
CANB
NASDAQ
The Badguy
Again, I make money and CANB will be another money maker. Ex: my photo below was taken in October 2016. As you can see I have 3MIL shares of RXM*. Purchased those shares at .005
In March 2018 I sold all 3MIL shares between .18 and .21
Made over $600,000 PROFIT!
It was a very nice feeling!
VERY NICE! LOL!!!! Awwww
Anyhow, same will happen with CANB
VISION
PATIENCE
CANB
The BADGUY!!!!
I make money and CANB will be another money maker. Ex: my photo below was taken in October 2016. As you can see I have 3MIL shares of RXM*. Purchased those shares at .005
In March 2018 I sold all 3MIL between .18 and .21
Made over $600,000 PROFIT!
It was a very nice feeling!
VERY NICE! LOL!!!! Awwww
Anyhow, same will happen with CANB
VISION
PATIENCE
CANB
The BADGUY!!!!
Can B Corp. Reports Growth of 51% to $2.9 Million Revenue for Third Quarter 2022, the Highest Quarterly Revenue in Company History
Press Release | 11/22/2022
Led by a Significant Increase in Duramed, Music City Botanical and Botanical Biotech Brands
Adjusted EBITDA Loss Decreased by 25% to $1.5 Million
HICKSVILLE, NY, Nov. 22, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – Can B Corp. (OTCQB: CANB) (“Can B” or the “Company”), a health and wellness company specializing in developing, producing, and selling hemp-derived cannabinoid products, today announced the Company's financial results for the third quarter and nine months ended September 30, 2022.
Key Financial Highlights for Q3 2022
Revenue increased 51% to $2.9 million
Gross profit increased 36% to $1.9 million
Gross margin decreased to 64.3%
Adjusted EBITDA loss decreased by 25% to $1.5 million
Accounts receivable at $7.0 million
Inventory at $2.3 million
Total assets at $16.7 million
Total stockholders’ equity at $4.5 million
Key Financial Highlights for 9 Months Ended September 30, 2022
Revenue increased 130% to $6.0 million
Gross profit increased 59% to $2.8 million
Gross margin decreased to 46.0%
Adjusted EBITDA loss decreased by 15% to $4.5 million
Key Business Highlights for Q3 2022
Signed Manufacturing and Distribution Agreement for Superfood Products with Forever Brands and Brooke Burke via BB Body, Inc.
Consolidated Hemp Division Operations in Colorado
Management Commentary
Marco Alfonsi, Can B’s Chief Executive Officer, stated, “We are thrilled with our tremendous quarterly results, having achieved the highest quarterly revenue in our company history. We generated $2.9 million in quarterly revenue while reducing our cash burn as demonstrated by the 25% decrease in Adjusted EBITDA. Our team made great strides over the past several months integrating and ramping up the various operations we strategically acquired over the past year to complete our vertical processing capabilities.”
Alfonsi concluded, “We had a vision and were confident in the assets we were assembling over the past year. It is great to see all the challenging work pay off and result in accelerating revenue growth and a reduction in cash losses. With our proven manufacturing and distribution capabilities, we are now executing major strategic agreements, such as the recently announced deal with Brooke Burke. Since the end of the quarter, we have started taking orders and shipping Superfood Products with Brooke Burke and are very excited about the early demand and results. Can B is now a full-service hemp-derived cannabinoid company that can facilitate servicing large box retailers, boutique vape and smoke stores, and strategic partners.”
Manufacturing and Distribution Agreement for Superfoods Products with Forever Brands and Brooke Burke via BB Body, Inc.
The initial 3-year worldwide agreement covers the sale, manufacturing, and distribution of Superfoods and related nutritional products. Can B subsidiaries Imbibe Wellness Solutions is the exclusive direct-to-consumer seller of the products and Pure Health Products is a manufacturer and distributor of the products. The products will be marketed under the Longevity by Brooke Burke trademarks and brand. The partnership includes a powdered drink superfood mix, an all-natural metabolic energy drink, and other products that may be mutually agreed from time to time.
Brooke Burke, an American television personality, fitness personality, author, actress, and businessperson, will market, endorse, and promote the products as a monthly online subscription model under her company BB Body, Inc.
Subsequent to the end of the third quarter, the product launched.
Financial Results for the Three Months Ended September 30, 2021:
Revenue: For the three months ended September 30, 2022, revenue was $2.9 million, an increase of $1.0 million, or 51%, compared with $1.9 million for the three months ended September 30, 2021. The increase is due to the ` winddown of restrictions related to the Covid-19 Pandemic surrounding elective surgeries, enabling an increase in the usage of the Company’s Duramed product lines and ultrasound devices associated with patient recovery. Additionally, due to asset acquisitions in 2021, the Company’s Music City Botanical and Botanical Biotech brands related to an increase of sales compared to 2021 of approximately $1.5 million.
Gross Profit: For the three months ended September 30, 2022, gross profit was $1.9 million, an increase of $0.5 million, or 36%, compared with $1.4 million for the three months ended September 30, 2021. The resulting gross margin was 64.3%, compared with 71.7% for the same quarter last year.
Total Operating Expenses: For the three months ended September 30, 2022, total operating expenses were $8.7 million, an increase of $4.8 million, or 223%, compared with $3.9 million for the same quarter last year. The increase in operating expenses was primarily due to the non-cash stock-based compensation expense of $4.5 million and $0.8 million of other non-cash and non-recurring one-time items.
Operating Loss: For the three months ended September 30, 2022, operating loss was $6.8 million, an increase of $4.3 million, or 271%, compared with an operating loss of $2.5 million for the same quarter last year.
Adjusted EBITDA Loss: For the three months ended September 30, 2022, Adjusted EBITDA loss was $1.5 million, a decrease of $0.5 million, or 25%, compared with an Adjusted EBITDA loss of $2.0 million for the same period last year, after deducting non-cash and one-time expenses.
Net Loss: For the three months ended September 30, 2022, the net loss was $6.9 million, or ($1.98) per share, compared with a net loss of $3.2 million, or a net loss of ($1.61) per share, for the three months ended September 30, 2021.
Financial Results for the Nine Months Ended September 30, 2022:
Revenue: For the nine months ended September 30, 2022, revenue was $6.0 million, an increase of $3.4 million, or 130%, compared with $2.6 million for the same period last year. The increase is due to the winddown of restrictions related to the Covid-19 Pandemic surrounding elective surgeries, enabling an increase in the usage of the Company’s Duramed product lines and ultrasound devices associated with patient recovery. Additionally, due to asset acquisitions in 2021, the Company’s Music City Botanical and Botanical Biotech brands related to an increase of sales compared to 2021 of approximately $2.2 million.
Gross Profit: For the nine months ended September 30, 2022, gross profit was $2.8 million, an increase of $1.0 million, or 59%, compared with $1.7 million for the same period last year. The resulting gross margin was 46%, compared with 66% for the same period last year.
Total Operating Expenses: For the nine months ended September 30, 2022, total operating expenses were $14.3 million, an increase of $5.7 million, or 243%, compared with $8.6 million for the same period last year. The increase in operating expenses was primarily due to the non-cash stock-based compensation expense of $5.1 million.
Operating Loss: For the nine months ended September 30, 2022, operating loss was $11.6 million, an increase of $4.7 million, compared with an operating loss of $6.9 million for the same period last year.
Adjusted EBITDA Loss: For the nine months ended September 30, 2022, Adjusted EBITDA loss was $4.5 million, a decrease of $0.8 million, or 15%, compared with an Adjusted EBITDA loss of $5.3 million for the same period last year, after deducting non-cash and one-time expenses.
Net Loss: For the nine months ended September 30, 2022, net loss was $12.0 million, or ($3.56) per share, compared with $8.2 million, or ($5.39) per share, for the same period last year.
About Can B Corp.
Can B Corp. (OTCQB: CANB) is a health & wellness company providing the highest quality hemp-derived cannabinoid products, including under its own brands of Canbiola, Seven Chakras, NuWellness, Pure Leaf Oil, and Duramed. Can B utilizes multi-channel distribution to reach consumers, including medical facilities, doctor offices, retailers, online and direct. Can B Corp. operates R&D and production facilities in Lacey, WA, and Florida. To learn more about Can B Corp. and our comprehensive line of high-quality products, please visit: Canbiola.com and www.CanBCorp.com, follow Can B Corp on Instagram and Facebook or visit one of the 1,000+ retail outlets that carry Can B Corp. products.
For more information about Can B Corp., please visit: CanBCorp.com
Twitter @CanBCorp
Instagram @canbcorp
Facebook @ Can B Corp
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The Badguy
Thank GOD!! Awesome! Have a good one
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The Badguy
Can B Corp. Reports Growth of 51% to $2.9 Million Revenue for Third Quarter 2022, the Highest Quarterly Revenue in Company History
Press Release | 11/22/2022
Led by a Significant Increase in Duramed, Music City Botanical and Botanical Biotech Brands
Adjusted EBITDA Loss Decreased by 25% to $1.5 Million
HICKSVILLE, NY, Nov. 22, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – Can B Corp. (OTCQB: CANB) (“Can B” or the “Company”), a health and wellness company specializing in developing, producing, and selling hemp-derived cannabinoid products, today announced the Company's financial results for the third quarter and nine months ended September 30, 2022.
Key Financial Highlights for Q3 2022
Revenue increased 51% to $2.9 million
Gross profit increased 36% to $1.9 million
Gross margin decreased to 64.3%
Adjusted EBITDA loss decreased by 25% to $1.5 million
Accounts receivable at $7.0 million
Inventory at $2.3 million
Total assets at $16.7 million
Total stockholders’ equity at $4.5 million
Key Financial Highlights for 9 Months Ended September 30, 2022
Revenue increased 130% to $6.0 million
Gross profit increased 59% to $2.8 million
Gross margin decreased to 46.0%
Adjusted EBITDA loss decreased by 15% to $4.5 million
Key Business Highlights for Q3 2022
Signed Manufacturing and Distribution Agreement for Superfood Products with Forever Brands and Brooke Burke via BB Body, Inc.
Consolidated Hemp Division Operations in Colorado
Management Commentary
Marco Alfonsi, Can B’s Chief Executive Officer, stated, “We are thrilled with our tremendous quarterly results, having achieved the highest quarterly revenue in our company history. We generated $2.9 million in quarterly revenue while reducing our cash burn as demonstrated by the 25% decrease in Adjusted EBITDA. Our team made great strides over the past several months integrating and ramping up the various operations we strategically acquired over the past year to complete our vertical processing capabilities.”
Alfonsi concluded, “We had a vision and were confident in the assets we were assembling over the past year. It is great to see all the challenging work pay off and result in accelerating revenue growth and a reduction in cash losses. With our proven manufacturing and distribution capabilities, we are now executing major strategic agreements, such as the recently announced deal with Brooke Burke. Since the end of the quarter, we have started taking orders and shipping Superfood Products with Brooke Burke and are very excited about the early demand and results. Can B is now a full-service hemp-derived cannabinoid company that can facilitate servicing large box retailers, boutique vape and smoke stores, and strategic partners.”
Manufacturing and Distribution Agreement for Superfoods Products with Forever Brands and Brooke Burke via BB Body, Inc.
The initial 3-year worldwide agreement covers the sale, manufacturing, and distribution of Superfoods and related nutritional products. Can B subsidiaries Imbibe Wellness Solutions is the exclusive direct-to-consumer seller of the products and Pure Health Products is a manufacturer and distributor of the products. The products will be marketed under the Longevity by Brooke Burke trademarks and brand. The partnership includes a powdered drink superfood mix, an all-natural metabolic energy drink, and other products that may be mutually agreed from time to time.
Brooke Burke, an American television personality, fitness personality, author, actress, and businessperson, will market, endorse, and promote the products as a monthly online subscription model under her company BB Body, Inc.
Subsequent to the end of the third quarter, the product launched.
Financial Results for the Three Months Ended September 30, 2021:
Revenue: For the three months ended September 30, 2022, revenue was $2.9 million, an increase of $1.0 million, or 51%, compared with $1.9 million for the three months ended September 30, 2021. The increase is due to the ` winddown of restrictions related to the Covid-19 Pandemic surrounding elective surgeries, enabling an increase in the usage of the Company’s Duramed product lines and ultrasound devices associated with patient recovery. Additionally, due to asset acquisitions in 2021, the Company’s Music City Botanical and Botanical Biotech brands related to an increase of sales compared to 2021 of approximately $1.5 million.
Gross Profit: For the three months ended September 30, 2022, gross profit was $1.9 million, an increase of $0.5 million, or 36%, compared with $1.4 million for the three months ended September 30, 2021. The resulting gross margin was 64.3%, compared with 71.7% for the same quarter last year.
Total Operating Expenses: For the three months ended September 30, 2022, total operating expenses were $8.7 million, an increase of $4.8 million, or 223%, compared with $3.9 million for the same quarter last year. The increase in operating expenses was primarily due to the non-cash stock-based compensation expense of $4.5 million and $0.8 million of other non-cash and non-recurring one-time items.
Operating Loss: For the three months ended September 30, 2022, operating loss was $6.8 million, an increase of $4.3 million, or 271%, compared with an operating loss of $2.5 million for the same quarter last year.
Adjusted EBITDA Loss: For the three months ended September 30, 2022, Adjusted EBITDA loss was $1.5 million, a decrease of $0.5 million, or 25%, compared with an Adjusted EBITDA loss of $2.0 million for the same period last year, after deducting non-cash and one-time expenses.
Net Loss: For the three months ended September 30, 2022, the net loss was $6.9 million, or ($1.98) per share, compared with a net loss of $3.2 million, or a net loss of ($1.61) per share, for the three months ended September 30, 2021.
Financial Results for the Nine Months Ended September 30, 2022:
Revenue: For the nine months ended September 30, 2022, revenue was $6.0 million, an increase of $3.4 million, or 130%, compared with $2.6 million for the same period last year. The increase is due to the winddown of restrictions related to the Covid-19 Pandemic surrounding elective surgeries, enabling an increase in the usage of the Company’s Duramed product lines and ultrasound devices associated with patient recovery. Additionally, due to asset acquisitions in 2021, the Company’s Music City Botanical and Botanical Biotech brands related to an increase of sales compared to 2021 of approximately $2.2 million.
Gross Profit: For the nine months ended September 30, 2022, gross profit was $2.8 million, an increase of $1.0 million, or 59%, compared with $1.7 million for the same period last year. The resulting gross margin was 46%, compared with 66% for the same period last year.
Total Operating Expenses: For the nine months ended September 30, 2022, total operating expenses were $14.3 million, an increase of $5.7 million, or 243%, compared with $8.6 million for the same period last year. The increase in operating expenses was primarily due to the non-cash stock-based compensation expense of $5.1 million.
Operating Loss: For the nine months ended September 30, 2022, operating loss was $11.6 million, an increase of $4.7 million, compared with an operating loss of $6.9 million for the same period last year.
Adjusted EBITDA Loss: For the nine months ended September 30, 2022, Adjusted EBITDA loss was $4.5 million, a decrease of $0.8 million, or 15%, compared with an Adjusted EBITDA loss of $5.3 million for the same period last year, after deducting non-cash and one-time expenses.
Net Loss: For the nine months ended September 30, 2022, net loss was $12.0 million, or ($3.56) per share, compared with $8.2 million, or ($5.39) per share, for the same period last year.
About Can B Corp.
Can B Corp. (OTCQB: CANB) is a health & wellness company providing the highest quality hemp-derived cannabinoid products, including under its own brands of Canbiola, Seven Chakras, NuWellness, Pure Leaf Oil, and Duramed. Can B utilizes multi-channel distribution to reach consumers, including medical facilities, doctor offices, retailers, online and direct. Can B Corp. operates R&D and production facilities in Lacey, WA, and Florida. To learn more about Can B Corp. and our comprehensive line of high-quality products, please visit: Canbiola.com and www.CanBCorp.com, follow Can B Corp on Instagram and Facebook or visit one of the 1,000+ retail outlets that carry Can B Corp. products.
For more information about Can B Corp., please visit: CanBCorp.com
Twitter @CanBCorp
Instagram @canbcorp
Facebook @ Can B Corp
YouTube
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The Badguy
LOL! Irrelevant. 100% irrelevant.
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The Badguy