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CANB had 2 RS's and true value is .000's currently. They are bleeding money and please all do the DD.
Peace out
CANB Continues to Impress, So Exciting as We All wait for its 3rd Consecutive Record Quarter., 24/7 DailyFollowing continues to grow, easy to see why.
Patience is Key
CANB -2023 and Beyond
That PR costs CANB money from the looks of it as no one believes the BS news. All know they are hemorrhaging money, bloated salaries and products few heard of or want.
Glad some old bag holders could get back to 50-80% losses and out, but looks like nothing will bring new bag holders to take the all but worthless shares.
Peace out
Yes BG, Excellent News Indeed, no wonder Accumulation Continues Weekly/Monthly, No one wants to be left behind when Nasdaq Listing happens, Loading Continues $$$$
:
Can B Corp. Completes Corporate Debt Restructuring to Position for Uplisting to National Securities Exchange
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
Hahahahahahaha NASDAQ! OMG that was a good one. There is ZERO, nadda, nill and no chance CANB goes to NASDAQ. Fuhgeddaboudit
I will never ever post on this board again if CANB goes to NASDAQ. Mark it 100%!
Peace out
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
CANB big news looks like a bust again. Cost them more to put the PR out than it was worth in shares dumped.
Peace out
No CANB paid promos will work any longer. Nasty as the past RS's killed any share holders value.
Peace out
The CANB bag holders will be happy and buy all you can. Who will dump faster as the news looks like all know what this really is and does.
NASTY and wish you well on the next as this was done years ago.
Peace out
And I will take advantage of the low float. I’m not married here.
You do know CANB had a few RS's and the real value is .000's. They will NEVER EVER be on NASDAQ unless another RS which would put real value at .0000's.
The hole is so deep it would be better to re-invent in a new sector as they burned so much money and every bridge with all now being massive bag holders..
Good luck on your next as this one is done.
Peace out
Amazing CANB good news today.
Amazing CANB is still trading. Bloated salaries, products few ever heard of and a few RS's that real value is now .000's and falling.
Glad to see some of these OTC cesspool plays come to a end.
Peace out
CANB in danger of losing NASDAQ?
CANB Up Again today almost 14%, Close to 40% in 2 Days!
Proves Accumulation Continues before 3rd Consecutive Record Quarter is Released.
CANB- 2023 and Beyond.
CANB Up 25% Today on Heavy Buying Volume, looks like that death spiral opinion has been played out 4 years ago.
CANB-2023 And Beyond
3rd Consecutive Record Quarter Fast Approaches and No One wants to be left behind, Loading Continues Weekly and Monthly.
Misleading, 25% UP Today alone, goes to show why Investors Keep Loading up Weekly/Monthly!
Facts Now. 3rd Consecutive Record Quarter Fast Approaches.
No Wonder All The Loading at these discounted prices.
CANB- 2023 And Beyond.
CANB LOOK OUT BELOW! Nothing can stop this juggernauts downward motion.
Hate to be right on so many of these schemes, but someone has to do it.
Peace out
CANB death spiral and nothing to hold it up. Maybe a 3rd RS will help. LOL
Peace out
CANB being down 90-95% with multi-RS's is good thing? Hmmm
Good luck and hope no one loses more than they can afford to with this OTC cesspool play.
Peace out
Here are the Incredible KEY FACTS from CANB's Last Record Quarter for our New Investors to see why all the Heavy interest as this New Record Quarter Fast Approaches $$$$ No Wonder Weekly and Monthly Accumulation Continues ;)
Another Record Quarterly Revenue Record for CANB!
Can B Corp. Reports Growth of 51% to $2.9 Million Revenue for Third Quarter 2022, the Highest Quarterly Revenue in Company History
Can B Corp
Tue, November 22, 2022 at 9:30 AM
In this article:
Can B Corp
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
Record investor losses for sure!
Yep Unfortunately, some folks will miss out on CANB 3rd Consecutive Record Quarter, just don’t get how they Can Follow it 24/7 for nothing, obvious lack of investment knowledge.
CANB 2023 and Beyond
“Some folks you just cannot reach. Sadly they deserve what they get. “
"ANYONE" that is in CANB for 6 month or more is down 80-95% and its simply the facts. A few RS's will do that to share holder every time.
Nothing left but to count the losses and wait for the inevitable. Some folks you just cannot reach. Sadly they deserve what they get.
Peace out
CANB 3rd Consecutive Record Quarter Fast Approaches, don’t get left behind. Congrats to All it’s Daily Followers….Thank You :)
Maybe you will get the 3rd CANB RS and really knock it out of the park. Good Grief!
If CANB was on Shark tank, Mr. Wonderful would demand you take this disaster of a company out back and put it out of its misery.
Peace out
You averaged CANB down to what 22.00-25.00 range Atta-boy!
Keep buying as CANB will sell you all you want and more.
Peace out
Grabbed more shares on this dip, too good to pass up.
CANB 3rd Record Quarter Fast Approaches $$$
What a super idea LOL.
Nope, been Loading at this
So averaged down to 25-30.00 range. Hahahaha CANB is the poster child JOKE of the OTC. Multi RS's and claiming its for NASDAQ. It is 1000% BULLSHIT!
Good grief what a joke!
Peace out
Nope, been Loading at this Record low Price $$$$$
What do you need to break even, CANB 45.00 range. LOL
Peace out
Buy more CANB, you deserve it. The last few years of purchases netted what, losses of 90-95%.
Maybe you'll get a 3rd RS to really help the price.
Peace out
Yea, sorry math has been done and has been determined CANB is way oversold. No wonder almost 100,000 shares were gobbled up today alone.
Smart Money Will keep Accumulating All Day Long at this oversold range.
CANB is a gateway stock to other SHIT SHOW supposedly weed stocks.
Please all do the math on this since the dual RS's. It is worth .0000's. It appears CANB has nothing but bloated salaries, massive debt and products hardly anyone ever heard of. Again,,, The fat lady is warming up here and simply a matter of time.
Peace out all
Over 26% Up today on Almost 100,000 Accumulative Volume. Can’t blame shareholders, who wouldn’t want shares at these Oversold Levels. The closing the doors limited opinion was played out 4 years ago.
Next Record Quarter Fast Approaches and everyone wants a piece $$$
CANB...2023 and Beyond
CANB, 26.00% Up on Strong Buying Volume today, almost 100,000 shares. Glad I took part of this Sweet Continued Accumulation, ROFL ;)
Patience is Key, Eye on The Prize $$$
But, but but… doesn’t it take $1 to stay on NASDAQ?
The CANB fat lady is warming up. Elvis is leaving the building. Say goodnight, Gracie.
Peace out
Yep, looks like Strong Hands are still accumulating truck loads of those shares, ROFL.
CANB already worthless from past few RS's. Wonder what sector they will try next as they burned every bridge here and burned every share holders as well.
RIP CANB.
Peace out
The end of CANB arrived sooner than most thought.
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These brands include Canbiola, developed for the medical community, Seven Chakras, a spa line, NuWellness for independent Pharmacies and Pure Leaf Oil, their flagship consumer brand.
A growing line of other consumer products are also being developed, with exclusive partner agreements, to sell topical topicals, beverages and ingestible products under the LifeGuard® Brand. The company is launching a full line of Sunscreens, Lip Balms, Replenish Supplements and Water in the summer of 2020. In addition, a line of nutritional supplements called Superfoods, is being readied for a launch at the same time.
Their R&D and production facility is in Lacey WA. There they create, tests, and with a proprietary processes, produce the company’s CBD line of products and private label products to the industry’s highest standards.
CanB owns and operates Green Grow Farms, which is licensed to grow and cultivate Hemp in the State of New York.
Through the Duramed Division, the company offers FDA approved medical devices that alleviate joint, bone and muscle pain from injuries and surgery. Sold through doctors and the medical community, they are considered an important part of the solution to solving the opioid crisis.
http://www.canbcorp.com/
https://canbiola.com
https://duramed.us
https://www.otcmarkets.com/stock/CANB/security
Canbiola, Inc. (OTCQB: CANB) Announces the Formation of a New Wholly Owned Subsidiary- DuraMed, Inc
https://duramed.us
https://www.otcmarkets.com/stock/CANB/news/Canbiola-Inc-OTCQB-CANB-Announces-the-Formation-of-a-New-Wholly-Owned-Subsidiary--DuraMed-Inc?id=216443
SUSTAINED ACOUSTIC MEDICINE (SAMS)
Duramed provides wearable bioelectronic devices for the delivery of sustained acoustic medicine (SAMs). The proprietary miniaturized ultrasound platform is designed for the treatment of acute and chronic musculoskeletal conditions, and clinically proven to enhance tissue recovery, accelerate the natural healing processes, and relieve pain.
The SAM® family of products are the only FDA-cleared wearable devices for multi-hour continuous low intensity ultrasound therapy. SAM has a CE Mark, Canada Licensed, and is a Class II medical device in Malaysia and Singapore.
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