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CANB, Green Again Today 8.18% on almost 160K Volume...Accumulation Continues.
Smart Money knows what’s Coming.
Can B Corp. Reports 316% Revenue Growth to a Quarterly Revenue Record of $1.9 Million for its Third Quarter 2021
Quote:
No wonder All Eyes are focused on CANB 24/7.
*Debt Elimination Continues
*Expansion Continues
*New Products
*New Partners
*Continued Growth
*Nasdaq Coming
2022- And Beyond
Yep, that is Very Impressive Indeed :)
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
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
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
Obviously some do not understand the basic fundamentals of business...takes money to make money
CANB looking amazing
NASDAQ
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.
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Debt Elimination Continues
*Expansion Continues
*New Products
*New Partners
*Continued Growth
*Nasdaq Coming
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.
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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.
That sounds like the going out of business misleading info. No worries as All Eyes follow CANB Daily into the New Year and Beyond.
Looks like Accumulation Continues Weekly. Sooo Exciting as we follow CANB Daily into 2022 and Beyond $$$$.
Dollar Land Plus might even hit before this year is over!
Riiiiight. Read somewhere here that going out of business fiasco again this year? So much for that misleading information.
CANB....2021- And Beyond.
More like, Dollar Land Plus Fast Approaches $$$$
Correct, Up 22% today alone. 316% Revenue Growth is pretty Amazing Indeed, Wow!
Another week of Accumulation as Dollar Land Plus is Fast Approaching.....CANB Continues to make all the right moves $$$! So much for the Misleading going out of business joke, LOL.
:
Debt Elimination Continues
*Expansion Continues
*New Products
*New Partners
*Continued Growth
*Nasdaq Coming
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 $$$! So much for the Misleading going out of business joke, LOL.
:
Debt Elimination Continues
*Expansion Continues
*New Products
*New Partners
*Continued Growth
*Nasdaq Coming
Another week of Accumulation as Dollar Land Plus is Fast Approaching.....CANB Continues to make all the right moves $$$! So much for the Misleading going out of business joke, LOL.
:
Debt Elimination Continues
*Expansion Continues
*New Products
*New Partners
*Continued Growth
*Nasdaq Coming
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.
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.
Spot On why CANB continues to stand out on Everyone’s Radar. No wonder Accumulation Continues:
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Perfectly Stated and explained, goes to show....CANB making all the Right Moves.
:
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.
Agree, it’s a no Brainer to Continue to Accumulate at these levels.
Goes to show, it’s not that easy to scare Smart Money into selling these Golden Shares.
:
Smart investor loaded CANB today
NASDAQ
CANB
The Badguy
Nice Accumulation going on today Again.
Dollar Land Plus Fast Approaches!
Misleading CANB up almost 5%, Accumulation Continues, can’t fool Smart Money so easily into selling.
Dollar Plus Fast Approaches.
Yep, another Green Close for CANB. Accumulation Continues by Smart Money.
Dollar Land Plus Fast Approaches.
Misleading, low volume dips, Smart Money is clearly holding on to these Golden shares.
Going out of business wish has been stated since 3 years ago.
CANB....2021 and Beyond.
Excellent article on why CANB is a Wise Investment. Accumulation Continues by Smart Money. Solid DD proves CANB is making All The Right Moves.
Dollar Land Plus Fast Approaches.
Pointed out Investment Highlights is only the tip of the Iceberg.
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INVESTMENT HIGHLIGHTS
New Delta 8 product levels playing field with cannabis producers
Hemp division projecting strong revenue growth
Misunderstood DuraMed business with huge potential
Strong underlying asset base represents bargain valuation
True, article was posted for free. CANB good news continues to shine and spread widely.
Accumulation Continues by Smart Money.
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Disclosure: Insider Financial and its owners do not have a position in the stocks posted and have posted this article for free without editorial input.
Misleading, this should help clear up.
Go CANB, Accumulation Continues as Dollar Land Fast Approaches. CANB continues to release Great News.
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On the bottom of the article it states
Disclosure: Insider Financial and its owners do not have a position in the stocks posted and have posted this article for free without editorial input. This article was written by a guest contributor and solely reflects his opinions.
Spot On, CANB is on Smart Traders Radar.
Accumulation Continues.
Not so easy to fool anyone into selling.
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Oh it’s so wise we love it… the best investment. Canb let’s go!!!
Great Article, CANB Nasdaq Bound for Sure! No wonder Accumulation Continues.
https://insiderfinancial.com/finding-the-treasures-in-can-b-corp-otcmkts-canb-in-an-ocean-of-cbd/182567/
Correct, Huge Block just went through. Goes to show Smart Money is grabbing all it can. Dollar Land Plus is Fast Approaching.....CANB Continues to make all the right moves $$$$!
:
Debt Elimination Continues
*Expansion Continues
*New Products
*New Partners
*Continued Growth
*Nasdaq Coming
Perfectly Stated and explained, goes to show....CANB making all the Right Moves.
:
Well, actually $CANB is unlike many other OTC companies as it is SEC reporting. The revenue numbers came from their recent 8K they dropped, reporting these numbers right to the SEC, not just to OTC markets. So, because of that, I fully trust the documents and the financial figures reported in them. A company can say anything they want in a news release, however, reporting that information in an official submission to the SEC in an 8K holds substantially more weight and gives all investors peace of mind that the information is accurate.
Those are Very Impressive Numbers Indeed, CANB definitely making All The Right Moves.
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CANB bringing in $400,000 in revenue from their hemp division alone. Very solid numbers coming in. Not some fly by night company. I bet this will see NASDAQ soon.
Agree, shorty will not make it to years end.
CANB making all the right moves....and some.
*Debt Elimination Continues
*Expansion Continues
*New Products
*New Partners
*Continued Growth
*Nasdaq Coming
Wow, Great $$$coming in for CANB indeed!
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Oh, you mean the $400,000 per WEEK in revenues from their hemp division alone?!
CANB 3 Month Chart is also showing Break-Out indicators.
No Wonder Accumulation Continues by Smart Money. Add to that
*Debt Elimination Continues
*Expansion Continues
*New Products
*New Partners
*Continued Growth
*Nasdaq Coming
Spot On, CANB 6 month chart looks primed for next leg upwards. Dollar Plus Easily.
No wonder Accumulation Continues.
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CANB Making big moves, this will explode once we break 1.
Great to see the Growing Interest in CANB, today was a good example.
Thank You for the next CANB Conference information, Share Holders can’t wait to tune in again.
:
Replay $CANB Emerging Growth Conference.
Link to the video is here:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=166165192
Next Conference October 13
Register Here:
https://goto.webcasts.com/starthere.jsp?ei=1487781&tp_key=e2bca7d62c&sti=twitter
Who do you want to see present?
Tell us here:
www.EmergingGrowth.com/Conference
EGC 17 Replay:
$CANB
$PBIO
$GNTW
$AWX / $AWG
$PETV
$UCASU
$CLSH
$MARK
$CYDY
Wow, 5 Million, That is Impressive Indeed! Very Exciting...today alone CANB bd postings continue to increase.
No wonder interest continues to increase.
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The company is projecting nearly $5 million JUST from the hemp division in Q4. Will Q3 numbers blow the lid off this ticker? Could be a big move coming...
Correct, Very Exciting Indeed. CANB continues to make all the right moves.
Agree with Shareholders.......Chart is Primed for Dollar Land Plus!
No wonder Accumulation Continues.
Spot On, CANB setting up nicely for a breakout. Sure would hate to be sitting on the sidelines when it takes place.
Dollar Land Plus will hit Hard.
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CANB has been riding the 50dma for the better part of the last 30 days. Looks ready for a breakout with some positive news and some heavier volume. Like much of the cannabis sector, the bottoms look in, and ready for some favorable November legislation and sentiment to shift. Looking for that 1.00 re-test and break.
Wow, That is some Spectacular News for CANB! Dollar Land Plus Here we come!
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Awesome 8K out !!!!
https://www.otcmarkets.com/filing/html?id=15244946&guid=4dwwkns94Rw7Mth
Investor deck!! And it’s got some amazing news!