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CANB down another 11% today.
Revenue doesn’t appear to be a catalyst l
Can B Corp. Reports 316% Revenue Growth to a Quarterly Revenue Record of $1.9 Million for its Third Quarter 2021
https://www.otcmarkets.com/stock/NSAV/news/NSAV-ANNOUNCES-SHAREHOLDER-CALL-AND-BUSINESS-UPDATE-ON-DECEMBER-1-2021-AT-1000-AM-EST-DETAILS-OF-PRIVATE-SALE-OF-NSAVDEX?id=333044
Down she goes, another 10% and CANB will be lucky to be in the hemp thing much longer. They need a sector change soon as very few are buying their isolate products.
Correct, Huge Revenue Growth! CANB $1.00 Plus Coming, 2021....And Beyond, this is only the beginning $$$$$
CANB: Reports 316% Revenue Growth to a Quarterly Revenue Record of $1.9 Million for its Third Quarter 2021
https://www.otcmarkets.com/stock/CANB/news/Can-B-Corp-Reports-316-Revenue-Growth-to-a-Quarterly-Revenue-Record-of-19-Million-for-its-Third-Quarter-2021?id=329381
https://twitter.com/TMCCTweets
Can B Corp. Reports 316% Revenue Growth to a Quarterly Revenue Record of $1.9 Million for its Third Quarter 2021
Can B Corp. Reports 316% Revenue Growth to a Quarterly Revenue Record of $1.9 Million for its Third Quarter 2021
Press Release | 11/05/2021
HICKSVILLE, NY / ACCESSWIRE / November 5, 2021
/ 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 ended September 30, 2021 ("Q3 2021").
Key Financial Highlights during Q3 2021
Revenue increased 316% in 3rd quarter 2021 to $1.9 million compared to Q3 2020- (a trend expected to continue into subsequent quarters into 2023
Gross profit increased 261% to $1.4 million compared to Q3 2020
Total assets increased to 14.2 million
Total stockholders' equity increased to $5.7 million
Key Business Highlights during Q3 2021
Provided acquisition opportunities to produce 13,000 liters of Delta-8 and other isomers with potential $10 million revenue
Secured lease for 300,000 square foot facility in McMinnville, Tennessee
Closed acquisition of assets from TWS Pharma in Colorado to significantly expand capabilities in converting hemp biomass to isolate used in our CBD and isomer product lines
Closed acquisition of assets from Music City Botanicals to strengthen its vertical processing capabilities
Partnered with group of professional Hollywood stuntmen and world champion action sports athletes for CBD products.
Company reassessing potential of NASDAQ up-listing
Management Commentary
Marco Alfonsi, Can B's Chief Executive Officer, stated, "Our moves over the past few months are paying off and have put us in great position to accelerate our revenue growth and strengthen our balance sheet. We believe this quarter's results are just the beginning as we just recently acquired these additional assets. Our team is hard at work integrating and ramping up the various operations to continue this momentum into the future. These dramatic revenue improvements, coupled with our acquisitions and asset base increases, position us solidly to continue our application process for a NASDA up listing."
Alfonsi, continued, "By securing our own processing and extraction facilities, we for the first time control our supply chain from biomass through end products for both retail and wholesale customers. The real property assets acquired by Can B in the past two quarters are in alignment with our growth strategy and are of exceptional caliber and highlight our commitment to build out the proper way. Can B is now a full-service hemp-derived cannabinoid company that can facilitate servicing the large box types as well as the boutique vape and smoke store.We have completed our hemp isomer pipeline fulfillment, a major milestone for our Company. At today's market price, one million pounds of hemp biomass, that when full processed into Delta 8 isomer has a potential wholesale value of approximately $10 million. We look forward to reporting our progress as we execute our plan with all of these new assets, which strengthens our vertical processing capabilities."
Recent Highlights
Plans to Produce 13,000 Liters of Delta-8 and Other Isomers with Potential $10 Million Revenue
Plans to fulfill new hemp processing agreements after securing hemp biomass and winterized crude to create over 13,000 Liters (1 Liter = 1.05 Quarts) of isomers, including Delta-8, with a potential wholesale value exceeding $10 million at today's market price. The biomass Can-B has secured is harvested hemp that is the core ingredient to make hemp isolate which is the CBD component of Can B's CBD tinctures, salves, gels, as well as its line of isomers such as Delta-8.
Hemp derived isomers are increasing rapidly in popularity as more hemp companies realize hemp-derived CBD can be used to create isomers such as CBN, CBC, and Delta 8. Can B believes it is on the forefront of Delta 8 production and it has the capacity to complete an increasing number of wholesale orders, as well as providing Delta 8 for its own retail products. Can B's newly acquired facilities in Colorado will receive harvested hemp biomass and convert it to winterized crude. These same facilities will then process it to distillate, then to isolate which will be shipped to Company-owned facilities in Florida and Tennessee to produce Delta-8 or other isomers, or to its manufacturing facility in Lacey, Washington for its line of CBD tinctures, salves, gels, and drops. This processing is expected to take 5-6 months to monetize the revenue.
Secured Lease for 300,000 Square Foot Facility in McMinnville, Tennessee
Secured a lease for a 300,000 square foot facility to support the operations of its recently acquired assets from Music City Botanicals, in McMinnville, Tennessee. Can B has also has the right of first refusal and an option to outright purchase the facility during the term of the lease. The facility is located halfway between Nashville and Chattanooga in central Tennessee, approximately seventy-five miles from each city, and provides space for expansion for additional operations.
Currently, the facility has two sub-tenants utilizing under 20% of the building, including hemp storage and hemp drying. It also encompasses TN Botanicals' R&D department, isomer lab, and extraction facilities. Additionally, the property is already equipped with a rail spur to its loading doors. The facility has backup generators at one-megawatt capacity.
Acquisition of Assets from TWS Pharma
The 15,000 square foot facility located in Mead, Colorado is a state-of-the-art extraction operation which converts hemp biomass and unwinterized crude to winterized crude and high-quality CBD crude oil. The 18,000 square foot operation in Fort Morgan, Colorado, a former Budweiser facility, will be used to convert winterized crude to CBD distillate. The ICS facility located in a 30,000 square foot building also located in Fort Morgan, Colorado, will be used to convert distillate to isolate. All of the facilities are tied to long-term leases. All of these newly acquired assets will feed the Company's Nutraceutical lab in Lacey, Washington facility and the two isomer (Delta-8- CBD- CBG) operations in Miami Florida and McMinnville Tennessee.
Acquisition of Assets from Music City Botanicals
The addition of Music City Botanicals ("MCB") assets adds additional volume in extraction, isomer lab production, and R&D into the evolving isomer market with such products a Delta-10, CBG, CBN, and CBDA. New retail products will include pharmaceutical-grade CBD and related manufactured goods. In-house labeling and packaging now available to the Company will create a chain of custody and compliance process that is uncommon in the industry.
With this acquisition, TN Botanicals is now a complete producer of high-quality CBD products using in-house extraction, distillation, isolate production, and final product fulfillment to complete a vertical chain of custody in all its products. Products are manufactured under Good Management Practices, ISO 9000 compliance. All products are tested by primary and independent third-party labs.
The transaction is valued at well over a million dollars for processing and extraction assets encompassing equipment, inventory, and intellectual property, including all of MCB's product offerings and trademarks. The Company also leases the facility in McMinnville, Tennessee, and has engaged its seasoned and professional employees to produce and sell products under the TN Botanicals LLC division of CANB. The processing lab is twice the size of Can B's Miami operation and has the capacity to produce six hundred liters of quality Delta 8 and other isomers per week.
Financial Results for the Three Months Ended September 30, 2021:
Revenue: For the three months ended September 30, 2021, revenue was $1.9 million, an increase of $1.5 million, or 316%, compared with $0.5 million for the three months ended September 30, 2020. The increase was due to the resumption of elective surgeries in 2021 which were temporarily paused through Q2 of 2020 due to the impact of the COVID-19 outbreak. Medical durable equipment utilized in elective surgeries is the Company's primary medical device revenue. In addition, the increase was related to operations of the Company's delta-8 synthesizing business which began in March 2021 as well as revenues from the Company's initial operations in Tennessee.
Gross Profit: For the three months ended September 30, 2021, gross profit was $1.4 million, an increase of $1.0 million, or 261%, compared with $0.4 million for the three months ended September 30, 2020. The resulting gross margin was 73.6%, compared with 84.7% for the same quarter last year. The decrease in gross margin is due to an increase in medical durable equipment contribution to revenue and an increase in inventory pricing.
Total Operating Expenses: For the three months ended September 30, 2021, total operating expenses were $3.8 million, an increase of $2.7 million, or 231%, compared with $1.2 million for the same quarter last year. The increase in operating expenses was primarily due to professional fees incurred and attributable to the Company's asset acquisitions and Regulation A offering.
Operating Loss: For the three months ended September 30, 2021, operating loss was $2.4 million, an increase of $1.8 million, compared with an operating loss of $0.8 million for the same quarter last year.
Net Loss: For the three months ended September 30, 2021, net loss was $3.1 million, or ($0.10) per share, compared with a net loss of $1.2 million, or a net loss of ($0.37) per share, for the three months ended September 30, 2020.
Financial Results for the Nine Months Ended September 30, 2021:
Revenue: For the nine months ended September 30, 2021, revenue was $2.6 million, an increase of $1.4 million, or 112%, compared with $1.2 million for the same period last year. The increase was due to the resumption of elective surgeries in 2021 which were temporarily paused through Q2 of 2020 due to the impact of the COVID-19 outbreak. Medical durable equipment utilized in elective surgeries is the Company's primary medical device revenue. In addition, the increase was related to operations of the Company's delta-8 synthesizing business which began in March 2021 as well as revenues from the Company's initial operations in Tennessee.
Gross Profit: For the nine months ended September 30, 2021, gross profit was $1.8 million, an increase of $0.8 million, or 79%, compared with $1.0 million for the same period last year. The resulting gross margin was 67.9%, compared with 80.1% for the same period last year.
Total Operating Expenses: For the nine months ended September 30, 2021, total operating expenses were $8.6 million, an increase of $4.6 million, or 115%, compared with $4.0 million for the same period last year.
Of note, $2.8 million of the Company's operating expenses for the nine months ended September 30, 2021, were non-cash expenses, including depreciation, amortization, and stock-based compensation.
Operating Loss: For the nine months ended September 30, 2021, operating loss was $6.8 million, an increase of $3.8 million, compared with an operating loss of $3.0 million for the same period last year.
Net Loss: For the nine months ended September 30, 2021, net loss was $8.1 million, or ($0.36) per share, compared with $3.6 million, or ($1.16) 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
Very nice! $1+ soon enough! CANB
Some investors that participated in the Grand Salami Super MJ Mania promo back in 2017, 18 and 19 need CANB to hit $18 in order to BREAK EVEN. CANB currently trades for $.53… ouch.
I wonder what the CANB losses are since the start of the Grand Salami Super MJ Mania promo began in late 2017. They must be be astronomical and any small 4% gains like today surely don’t touch the losses. Very sad what has happened to CANB shareholders.
Yes, awesome 4% recoup today!
Another Green Day of Accumulation for CANB, so much for misinformation.
Shows it’s not so easy to scare Smart Money that knows what’s coming 2021...And Beyond.
Debt Elimination Continues
*Expansion Continues
*New Products
*New Partners
*Continued Growth
*Nasdaq Coming
Someone needs to put CANB out of its misery. It's painful to watch this charade drop day after day after day with no hope of resuscitation. There should be a DNR on file somewhere.
2nd Green Day of Accumulation, CANB ‘s
316% Revenue Growth to a Quarterly Revenue Record of $1.9 Million for its Third Quarter 2021 seems to be Having a Powerful effect on Smart Money.
CANB- 2021...And Beyond
CANB LOST $3,232,701 in the last 3 months.
Yippee! To da moon!
(glub, glub, glub)
Obviously some do not understand the basic fundamentals of business...takes money to make money
CANB looking amazing
NASDAQ
So what! They still lost $3.2 million dollars in the three months ended September 30, 2021.
Revenue is only part of the story, yes?
316% Revenue Growth is pretty Amazing Indeed, Wow!
Another week of Accumulation about to take place as Dollar Land Plus is Fast Approaching.....CANB Continues to make all the right moves $$$!
So much for the Misleading going out of business joke, LOL.
:
Debt Elimination Continues
*Expansion Continues
*New Products
*New Partners
*Continued Growth
*Nasdaq Coming
Amazing the doors are still open at CANB.
So what? They still lost $3.2 million dollars in the three months ended September 30, 2021.
Revenue is only part of the story, yes?
$CANB: Reports 316% Revenue Growth to a Quarterly Revenue Record of $1.9 Million for its Third Quarter 2021
https://www.otcmarkets.com/stock/CANB/news/Can-B-Corp-Reports-316-Revenue-Growth-to-a-Quarterly-Revenue-Record-of-19-Million-for-its-Third-Quarter-2021?id=329381
https://twitter.com/TMCCTweets
Can B Corp. Reports 316% Revenue Growth to a Quarterly Revenue Record of $1.9 Million for its Third Quarter 2021
Can B Corp. Reports 316% Revenue Growth to a Quarterly Revenue Record of $1.9 Million for its Third Quarter 2021
Press Release | 11/05/2021
HICKSVILLE, NY / ACCESSWIRE / November 5, 2021
/ 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 ended September 30, 2021 ("Q3 2021").
Key Financial Highlights during Q3 2021
Revenue increased 316% in 3rd quarter 2021 to $1.9 million compared to Q3 2020- (a trend expected to continue into subsequent quarters into 2023
Gross profit increased 261% to $1.4 million compared to Q3 2020
Total assets increased to 14.2 million
Total stockholders' equity increased to $5.7 million
Key Business Highlights during Q3 2021
Provided acquisition opportunities to produce 13,000 liters of Delta-8 and other isomers with potential $10 million revenue
Secured lease for 300,000 square foot facility in McMinnville, Tennessee
Closed acquisition of assets from TWS Pharma in Colorado to significantly expand capabilities in converting hemp biomass to isolate used in our CBD and isomer product lines
Closed acquisition of assets from Music City Botanicals to strengthen its vertical processing capabilities
Partnered with group of professional Hollywood stuntmen and world champion action sports athletes for CBD products.
Company reassessing potential of NASDAQ up-listing
Management Commentary
Marco Alfonsi, Can B's Chief Executive Officer, stated, "Our moves over the past few months are paying off and have put us in great position to accelerate our revenue growth and strengthen our balance sheet. We believe this quarter's results are just the beginning as we just recently acquired these additional assets. Our team is hard at work integrating and ramping up the various operations to continue this momentum into the future. These dramatic revenue improvements, coupled with our acquisitions and asset base increases, position us solidly to continue our application process for a NASDA up listing."
Alfonsi, continued, "By securing our own processing and extraction facilities, we for the first time control our supply chain from biomass through end products for both retail and wholesale customers. The real property assets acquired by Can B in the past two quarters are in alignment with our growth strategy and are of exceptional caliber and highlight our commitment to build out the proper way. Can B is now a full-service hemp-derived cannabinoid company that can facilitate servicing the large box types as well as the boutique vape and smoke store.We have completed our hemp isomer pipeline fulfillment, a major milestone for our Company. At today's market price, one million pounds of hemp biomass, that when full processed into Delta 8 isomer has a potential wholesale value of approximately $10 million. We look forward to reporting our progress as we execute our plan with all of these new assets, which strengthens our vertical processing capabilities."
Recent Highlights
Plans to Produce 13,000 Liters of Delta-8 and Other Isomers with Potential $10 Million Revenue
Plans to fulfill new hemp processing agreements after securing hemp biomass and winterized crude to create over 13,000 Liters (1 Liter = 1.05 Quarts) of isomers, including Delta-8, with a potential wholesale value exceeding $10 million at today's market price. The biomass Can-B has secured is harvested hemp that is the core ingredient to make hemp isolate which is the CBD component of Can B's CBD tinctures, salves, gels, as well as its line of isomers such as Delta-8.
Hemp derived isomers are increasing rapidly in popularity as more hemp companies realize hemp-derived CBD can be used to create isomers such as CBN, CBC, and Delta 8. Can B believes it is on the forefront of Delta 8 production and it has the capacity to complete an increasing number of wholesale orders, as well as providing Delta 8 for its own retail products. Can B's newly acquired facilities in Colorado will receive harvested hemp biomass and convert it to winterized crude. These same facilities will then process it to distillate, then to isolate which will be shipped to Company-owned facilities in Florida and Tennessee to produce Delta-8 or other isomers, or to its manufacturing facility in Lacey, Washington for its line of CBD tinctures, salves, gels, and drops. This processing is expected to take 5-6 months to monetize the revenue.
Secured Lease for 300,000 Square Foot Facility in McMinnville, Tennessee
Secured a lease for a 300,000 square foot facility to support the operations of its recently acquired assets from Music City Botanicals, in McMinnville, Tennessee. Can B has also has the right of first refusal and an option to outright purchase the facility during the term of the lease. The facility is located halfway between Nashville and Chattanooga in central Tennessee, approximately seventy-five miles from each city, and provides space for expansion for additional operations.
Currently, the facility has two sub-tenants utilizing under 20% of the building, including hemp storage and hemp drying. It also encompasses TN Botanicals' R&D department, isomer lab, and extraction facilities. Additionally, the property is already equipped with a rail spur to its loading doors. The facility has backup generators at one-megawatt capacity.
Acquisition of Assets from TWS Pharma
The 15,000 square foot facility located in Mead, Colorado is a state-of-the-art extraction operation which converts hemp biomass and unwinterized crude to winterized crude and high-quality CBD crude oil. The 18,000 square foot operation in Fort Morgan, Colorado, a former Budweiser facility, will be used to convert winterized crude to CBD distillate. The ICS facility located in a 30,000 square foot building also located in Fort Morgan, Colorado, will be used to convert distillate to isolate. All of the facilities are tied to long-term leases. All of these newly acquired assets will feed the Company's Nutraceutical lab in Lacey, Washington facility and the two isomer (Delta-8- CBD- CBG) operations in Miami Florida and McMinnville Tennessee.
Acquisition of Assets from Music City Botanicals
The addition of Music City Botanicals ("MCB") assets adds additional volume in extraction, isomer lab production, and R&D into the evolving isomer market with such products a Delta-10, CBG, CBN, and CBDA. New retail products will include pharmaceutical-grade CBD and related manufactured goods. In-house labeling and packaging now available to the Company will create a chain of custody and compliance process that is uncommon in the industry.
With this acquisition, TN Botanicals is now a complete producer of high-quality CBD products using in-house extraction, distillation, isolate production, and final product fulfillment to complete a vertical chain of custody in all its products. Products are manufactured under Good Management Practices, ISO 9000 compliance. All products are tested by primary and independent third-party labs.
The transaction is valued at well over a million dollars for processing and extraction assets encompassing equipment, inventory, and intellectual property, including all of MCB's product offerings and trademarks. The Company also leases the facility in McMinnville, Tennessee, and has engaged its seasoned and professional employees to produce and sell products under the TN Botanicals LLC division of CANB. The processing lab is twice the size of Can B's Miami operation and has the capacity to produce six hundred liters of quality Delta 8 and other isomers per week.
Financial Results for the Three Months Ended September 30, 2021:
Revenue: For the three months ended September 30, 2021, revenue was $1.9 million, an increase of $1.5 million, or 316%, compared with $0.5 million for the three months ended September 30, 2020. The increase was due to the resumption of elective surgeries in 2021 which were temporarily paused through Q2 of 2020 due to the impact of the COVID-19 outbreak. Medical durable equipment utilized in elective surgeries is the Company's primary medical device revenue. In addition, the increase was related to operations of the Company's delta-8 synthesizing business which began in March 2021 as well as revenues from the Company's initial operations in Tennessee.
Gross Profit: For the three months ended September 30, 2021, gross profit was $1.4 million, an increase of $1.0 million, or 261%, compared with $0.4 million for the three months ended September 30, 2020. The resulting gross margin was 73.6%, compared with 84.7% for the same quarter last year. The decrease in gross margin is due to an increase in medical durable equipment contribution to revenue and an increase in inventory pricing.
Total Operating Expenses: For the three months ended September 30, 2021, total operating expenses were $3.8 million, an increase of $2.7 million, or 231%, compared with $1.2 million for the same quarter last year. The increase in operating expenses was primarily due to professional fees incurred and attributable to the Company's asset acquisitions and Regulation A offering.
Operating Loss: For the three months ended September 30, 2021, operating loss was $2.4 million, an increase of $1.8 million, compared with an operating loss of $0.8 million for the same quarter last year.
Net Loss: For the three months ended September 30, 2021, net loss was $3.1 million, or ($0.10) per share, compared with a net loss of $1.2 million, or a net loss of ($0.37) per share, for the three months ended September 30, 2020.
Financial Results for the Nine Months Ended September 30, 2021:
Revenue: For the nine months ended September 30, 2021, revenue was $2.6 million, an increase of $1.4 million, or 112%, compared with $1.2 million for the same period last year. The increase was due to the resumption of elective surgeries in 2021 which were temporarily paused through Q2 of 2020 due to the impact of the COVID-19 outbreak. Medical durable equipment utilized in elective surgeries is the Company's primary medical device revenue. In addition, the increase was related to operations of the Company's delta-8 synthesizing business which began in March 2021 as well as revenues from the Company's initial operations in Tennessee.
Gross Profit: For the nine months ended September 30, 2021, gross profit was $1.8 million, an increase of $0.8 million, or 79%, compared with $1.0 million for the same period last year. The resulting gross margin was 67.9%, compared with 80.1% for the same period last year.
Total Operating Expenses: For the nine months ended September 30, 2021, total operating expenses were $8.6 million, an increase of $4.6 million, or 115%, compared with $4.0 million for the same period last year.
Of note, $2.8 million of the Company's operating expenses for the nine months ended September 30, 2021, were non-cash expenses, including depreciation, amortization, and stock-based compensation.
Operating Loss: For the nine months ended September 30, 2021, operating loss was $6.8 million, an increase of $3.8 million, compared with an operating loss of $3.0 million for the same period last year.
Net Loss: For the nine months ended September 30, 2021, net loss was $8.1 million, or ($0.36) per share, compared with $3.6 million, or ($1.16) 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
Forward-Looking Statements
Forward-looking statements and risks and uncertainties discussed in this release contain forward-looking statements. The words "anticipate," "believe," "estimate," "may," "intend," "expect," and similar expressions identify such forward-looking statements. Expected, actual results, performance, or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements contained herein. Forward-looking statements are subject to a number of risks and uncertainties, including but not limited to, risks and uncertainties associated with, among other things, the impact of economic, competitive, and other factors affecting our operations, markets, products, and performance. The matters discussed herein should not be construed in any way, shape or manner of our future financial condition or stock price. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of latest information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
Investors and Media:
IR@canbiola.com
(917) 658-7878
SOURCE: Can B Corp.
Correction: $CANB Live on the Emerging Growth Conference in 30 minutes.
Register here:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=166710753
Other Companies Presenting:
$FGR / $FGPHF
$SBMIF / $SB
$HAVLF / $HAVN
$HCTI
$LUXXF / $LUXX
$CANB Live on the Emerging Growth Conference in 30 minutes.
Register here:
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Other Companies Presenting:
$FGR / $FGPHF
$SBMIF / $SB
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Looking forward to another Green Day of Accumulation as Dollar Land Plus Fast Approaches.
Perfectly Stated. Easy to see why the growing interest 2021- And Beyond.
:
Well, actually $CANB is unlike many other OTC companies as it is SEC reporting. The revenue numbers came from their recent 8K they dropped, reporting these numbers right to the SEC, not just to OTC markets. So, because of that, I fully trust the documents and the financial figures reported in them. A company can say anything they want in a news release, however, reporting that information in an official submission to the SEC in an 8K holds substantially more weight and gives all investors peace of mind that the information is accurate.
I’m not familiar with the “going out of business” narrative.
Was that discussed in a CANB news release?
If so, when? I may have missed it.
That sounds like the going out of business misleading info. No worries as All Eyes follow CANB Daily into the New Year and Beyond.
Is CANB expecting a reverse split to get it to a dollar before the end of the year?
Looks like Accumulation Continues Weekly. Sooo Exciting as we follow CANB Daily into 2022 and Beyond $$$$.
Dollar Land Plus might even hit before this year is over!
With any luck, nobody was duped by the EOD tape painting today.
It’s not difficult to recognize the CANB shenanigans.
Riiiiight. Read somewhere here that going out of business fiasco again this year? So much for that misleading information.
CANB....2021- And Beyond.
More like, Dollar Land Plus Fast Approaches $$$$
Small CANB buys to paint the tape = scam trading to prop-up the promo.
Unconscionable IMO.
Correct, Up 22% today alone. 316% Revenue Growth is pretty Amazing Indeed, Wow!
Another week of Accumulation as Dollar Land Plus is Fast Approaching.....CANB Continues to make all the right moves $$$! So much for the Misleading going out of business joke, LOL.
:
Debt Elimination Continues
*Expansion Continues
*New Products
*New Partners
*Continued Growth
*Nasdaq Coming
CANB spoke loudly on that past RS. Maybe another to get them to NASDAQ again. LOL
Do not lose more than you can afford in these OTC cesspool plays.
$CANB speaks Live on the Emerging Growth Conference on November 10, 2021
Register here to interact Live:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=166685965
Who else would you like to see?
Have them contact us at:
email:
Conference@EmergingGrowth.com
or
Call the number here:
http://EmergingGrowth.com/Conference
Exactly CANB bleeding money and bloated salaries will be the end of this near future.
316% Revenue Growth is pretty Amazing Indeed, Wow!
Another week of Accumulation as Dollar Land Plus is Fast Approaching.....CANB Continues to make all the right moves $$$! So much for the Misleading going out of business joke, LOL.
:
Debt Elimination Continues
*Expansion Continues
*New Products
*New Partners
*Continued Growth
*Nasdaq Coming
Lol! Obviously some do not understand the basic fundamentals of business...takes money to make money
CANB looking amazing
NASDAQ
The Badguy
The devil is in the details…OPERATING LOSS.
$CANB Can B Corp. Reports 316% Revenue Growth to a Quarterly Revenue Record of $1.9 Million for its Third Quarter 2021
https://www.accesswire.com/671224/can-b-corp-reports-316-revenue-growth-to-a-quarterly-revenue-record-of-19-million-for-its-third-quarter-2021
HICKSVILLE, NY / ACCESSWIRE / November 5, 2021 / 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 ended September 30, 2021 ("Q3 2021").
Key Financial Highlights during Q3 2021
Revenue increased 316% in 3rd quarter 2021 to $1.9 million compared to Q3 2020- (a trend expected to continue into subsequent quarters into 2023
Gross profit increased 261% to $1.4 million compared to Q3 2020
Total assets increased to 14.2 million
Total stockholders' equity increased to $5.7 million
Key Business Highlights during Q3 2021
Provided acquisition opportunities to produce 13,000 liters of Delta-8 and other isomers with potential $10 million revenue
Secured lease for 300,000 square foot facility in McMinnville, Tennessee
Closed acquisition of assets from TWS Pharma in Colorado to significantly expand capabilities in converting hemp biomass to isolate used in our CBD and isomer product lines
Closed acquisition of assets from Music City Botanicals to strengthen its vertical processing capabilities
Partnered with group of professional Hollywood stuntmen and world champion action sports athletes for CBD products.
Company reassessing potential of NASDAQ up-listing
Management Commentary
Marco Alfonsi, Can B's Chief Executive Officer, stated, "Our moves over the past few months are paying off and have put us in great position to accelerate our revenue growth and strengthen our balance sheet. We believe this quarter's results are just the beginning as we just recently acquired these additional assets. Our team is hard at work integrating and ramping up the various operations to continue this momentum into the future. These dramatic revenue improvements, coupled with our acquisitions and asset base increases, position us solidly to continue our application process for a NASDA up listing."
Alfonsi, continued, "By securing our own processing and extraction facilities, we for the first time control our supply chain from biomass through end products for both retail and wholesale customers. The real property assets acquired by Can B in the past two quarters are in alignment with our growth strategy and are of exceptional caliber and highlight our commitment to build out the proper way. Can B is now a full-service hemp-derived cannabinoid company that can facilitate servicing the large box types as well as the boutique vape and smoke store.We have completed our hemp isomer pipeline fulfillment, a major milestone for our Company. At today's market price, one million pounds of hemp biomass, that when full processed into Delta 8 isomer has a potential wholesale value of approximately $10 million. We look forward to reporting our progress as we execute our plan with all of these new assets, which strengthens our vertical processing capabilities."
Recent Highlights
Plans to Produce 13,000 Liters of Delta-8 and Other Isomers with Potential $10 Million Revenue
Plans to fulfill new hemp processing agreements after securing hemp biomass and winterized crude to create over 13,000 Liters (1 Liter = 1.05 Quarts) of isomers, including Delta-8, with a potential wholesale value exceeding $10 million at today's market price. The biomass Can-B has secured is harvested hemp that is the core ingredient to make hemp isolate which is the CBD component of Can B's CBD tinctures, salves, gels, as well as its line of isomers such as Delta-8.
Hemp derived isomers are increasing rapidly in popularity as more hemp companies realize hemp-derived CBD can be used to create isomers such as CBN, CBC, and Delta 8. Can B believes it is on the forefront of Delta 8 production and it has the capacity to complete an increasing number of wholesale orders, as well as providing Delta 8 for its own retail products. Can B's newly acquired facilities in Colorado will receive harvested hemp biomass and convert it to winterized crude. These same facilities will then process it to distillate, then to isolate which will be shipped to Company-owned facilities in Florida and Tennessee to produce Delta-8 or other isomers, or to its manufacturing facility in Lacey, Washington for its line of CBD tinctures, salves, gels, and drops. This processing is expected to take 5-6 months to monetize the revenue.
Secured Lease for 300,000 Square Foot Facility in McMinnville, Tennessee
Secured a lease for a 300,000 square foot facility to support the operations of its recently acquired assets from Music City Botanicals, in McMinnville, Tennessee. Can B has also has the right of first refusal and an option to outright purchase the facility during the term of the lease. The facility is located halfway between Nashville and Chattanooga in central Tennessee, approximately seventy-five miles from each city, and provides space for expansion for additional operations.
Currently, the facility has two sub-tenants utilizing under 20% of the building, including hemp storage and hemp drying. It also encompasses TN Botanicals' R&D department, isomer lab, and extraction facilities. Additionally, the property is already equipped with a rail spur to its loading doors. The facility has backup generators at one-megawatt capacity.
Acquisition of Assets from TWS Pharma
The 15,000 square foot facility located in Mead, Colorado is a state-of-the-art extraction operation which converts hemp biomass and unwinterized crude to winterized crude and high-quality CBD crude oil. The 18,000 square foot operation in Fort Morgan, Colorado, a former Budweiser facility, will be used to convert winterized crude to CBD distillate. The ICS facility located in a 30,000 square foot building also located in Fort Morgan, Colorado, will be used to convert distillate to isolate. All of the facilities are tied to long-term leases. All of these newly acquired assets will feed the Company's Nutraceutical lab in Lacey, Washington facility and the two isomer (Delta-8- CBD- CBG) operations in Miami Florida and McMinnville Tennessee.
Acquisition of Assets from Music City Botanicals
The addition of Music City Botanicals ("MCB") assets adds additional volume in extraction, isomer lab production, and R&D into the evolving isomer market with such products a Delta-10, CBG, CBN, and CBDA. New retail products will include pharmaceutical-grade CBD and related manufactured goods. In-house labeling and packaging now available to the Company will create a chain of custody and compliance process that is uncommon in the industry.
With this acquisition, TN Botanicals is now a complete producer of high-quality CBD products using in-house extraction, distillation, isolate production, and final product fulfillment to complete a vertical chain of custody in all its products. Products are manufactured under Good Management Practices, ISO 9000 compliance. All products are tested by primary and independent third-party labs.
The transaction is valued at well over a million dollars for processing and extraction assets encompassing equipment, inventory, and intellectual property, including all of MCB's product offerings and trademarks. The Company also leases the facility in McMinnville, Tennessee, and has engaged its seasoned and professional employees to produce and sell products under the TN Botanicals LLC division of CANB. The processing lab is twice the size of Can B's Miami operation and has the capacity to produce six hundred liters of quality Delta 8 and other isomers per week.
Financial Results for the Three Months Ended September 30, 2021:
Revenue: For the three months ended September 30, 2021, revenue was $1.9 million, an increase of $1.5 million, or 316%, compared with $0.5 million for the three months ended September 30, 2020. The increase was due to the resumption of elective surgeries in 2021 which were temporarily paused through Q2 of 2020 due to the impact of the COVID-19 outbreak. Medical durable equipment utilized in elective surgeries is the Company's primary medical device revenue. In addition, the increase was related to operations of the Company's delta-8 synthesizing business which began in March 2021 as well as revenues from the Company's initial operations in Tennessee.
Gross Profit: For the three months ended September 30, 2021, gross profit was $1.4 million, an increase of $1.0 million, or 261%, compared with $0.4 million for the three months ended September 30, 2020. The resulting gross margin was 73.6%, compared with 84.7% for the same quarter last year. The decrease in gross margin is due to an increase in medical durable equipment contribution to revenue and an increase in inventory pricing.
Total Operating Expenses: For the three months ended September 30, 2021, total operating expenses were $3.8 million, an increase of $2.7 million, or 231%, compared with $1.2 million for the same quarter last year. The increase in operating expenses was primarily due to professional fees incurred and attributable to the Company's asset acquisitions and Regulation A offering.
Operating Loss: For the three months ended September 30, 2021, operating loss was $2.4 million, an increase of $1.8 million, compared with an operating loss of $0.8 million for the same quarter last year.
Net Loss: For the three months ended September 30, 2021, net loss was $3.1 million, or ($0.10) per share, compared with a net loss of $1.2 million, or a net loss of ($0.37) per share, for the three months ended September 30, 2020.
Financial Results for the Nine Months Ended September 30, 2021:
Revenue: For the nine months ended September 30, 2021, revenue was $2.6 million, an increase of $1.4 million, or 112%, compared with $1.2 million for the same period last year. The increase was due to the resumption of elective surgeries in 2021 which were temporarily paused through Q2 of 2020 due to the impact of the COVID-19 outbreak. Medical durable equipment utilized in elective surgeries is the Company's primary medical device revenue. In addition, the increase was related to operations of the Company's delta-8 synthesizing business which began in March 2021 as well as revenues from the Company's initial operations in Tennessee.
Gross Profit: For the nine months ended September 30, 2021, gross profit was $1.8 million, an increase of $0.8 million, or 79%, compared with $1.0 million for the same period last year. The resulting gross margin was 67.9%, compared with 80.1% for the same period last year.
Total Operating Expenses: For the nine months ended September 30, 2021, total operating expenses were $8.6 million, an increase of $4.6 million, or 115%, compared with $4.0 million for the same period last year.
Of note, $2.8 million of the Company's operating expenses for the nine months ended September 30, 2021, were non-cash expenses, including depreciation, amortization, and stock-based compensation.
Operating Loss: For the nine months ended September 30, 2021, operating loss was $6.8 million, an increase of $3.8 million, compared with an operating loss of $3.0 million for the same period last year.
Net Loss: For the nine months ended September 30, 2021, net loss was $8.1 million, or ($0.36) per share, compared with $3.6 million, or ($1.16) per share, for the same period last year.
Stick a fork in CANB as it has to be difficult to make it much longer.
We know this one was a perfectly executed scam. I got in the placement and lost it all clearly. They just take your money. Move on.
Does anybody know what the total losses amount to here since the launch of the Super MJ Salami Mania promo in late 2017?
The damage has got to be off the charts.
Glad I didn’t buy into the nonsense.
And,,, back down CANB goes. Maybe another RS to help this again. Nasty, nasty and more nasty what CANB did to share holders.
Not sure how they make it till EOY in this sector.
Another week of Accumulation as Dollar Land Plus is Fast Approaching.....CANB Continues to make all the right moves $$$! So much for the Misleading going out of business joke, LOL.
:
Debt Elimination Continues
*Expansion Continues
*New Products
*New Partners
*Continued Growth
*Nasdaq Coming
LOLOLOLOLOL! Right.
Greenridge Globals starts coverage with a target of 1.2
Tough to watch these play out and what they do to share holders.
Maybe bring back the CANB vending machine promo? That was funny as CANB said they were bought, paid for and on the way to doctors offices. Guess they fell off the truck on the way as they never showed any vending machines existed. Wink, wink.
Why does CANb pay scam pump rags to promote the sale of their stock?
Looking forward to another Green Day of Accumulation as Dollar Land Plus Fast Approaches.
Perfectly Stated. Easy to see why the growing interest 2021- And Beyond.
:
Well, actually $CANB is unlike many other OTC companies as it is SEC reporting. The revenue numbers came from their recent 8K they dropped, reporting these numbers right to the SEC, not just to OTC markets. So, because of that, I fully trust the documents and the financial figures reported in them. A company can say anything they want in a news release, however, reporting that information in an official submission to the SEC in an 8K holds substantially more weight and gives all investors peace of mind that the information is accurate.
Why does CANb pay scam pump rags to promote the sale of their stock?
CANB currently $.71, some Salami players need $18.00 to break even.
Well, actually $CANB is unlike many other OTC companies as it is SEC reporting. The revenue numbers came from their recent 8K they dropped, reporting these numbers right to the SEC, not just to OTC markets. So, because of that, I fully trust the documents and the financial figures reported in them. A company can say anything they want in a news release, however, reporting that information in an official submission to the SEC in an 8K holds substantially more weight and gives all investors peace of mind that the information is accurate.
Smart Investors, Perfectly Stated why the Huge Interest by All Parties.,
Accumulation Continues.
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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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