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Impressive Key Highlights for CANB, easy to see why Smart Money will keep Accumulating.
No wonder Smart Money keeps Accumulating Shares.
:
Key Recent Highlights:
Closed $2.8 million debt financing from an institutional investor, enabling the pay off and elimination of all prior outstanding convertible notes without penalty
Tripled production with the installation of new high-speed equipment to expand production at its Pure Health Products facility in Lacey, Washington
Raised a total of $4.0 million in equity with ongoing Reg A offering
Cash balance of $1.7 million, as of April 2021
$CANB
Spot on, CANB is just getting started, Accumulation will Continue.
:
CANB is a $4.00 stock all day long.
Long term CANB is NASDAQ caliber.
Vision
Patience
It's all coming
Excellent News for CANB....expecting Continued Accumulation during the next weeks and months. No one wants to be left behind when CANB takes off :)
Can B Corp. Announces Full Year 2020 Results
April 14, 2021, 6:00 AM EDT
Strong Gross Margin of 84%
Efficiencies and Lower Expenses Lead to a Significant Reduction in Operating
Loss
HICKSVILLE, NY / ACCESSWIRE / April 14, 2021 / Can B Corp. (OTCQB:CANB) ("Can
B" or the "Company"), a diversified health and wellness company, announced
today operating and financial results for the year ended December 31, 2020.
"As it was for many companies, 2020 was a challenging year for us," commented
Marco Alfonsi, Can B's Chief Executive Officer. "We took the time to
right-size our expenses, focus our energy on higher margin revenue
opportunities and improve our positioning for future growth and profits."
Mr. Alfonsi continued, "As an integrated Health & Wellness company providing
the highest quality cannabidiol (CBD) products as well as traditional wellness
products our business pipeline remains strong. We are optimistic for growth
with a return to more normalcy as more and more restrictions ease from the
Covid-19 pandemic. We look forward to leveraging our R&D and production
facility in Lacey, WA for both our own products and private label for others."
Key Recent Highlights:
* Closed $2.8 million debt financing from an institutional investor,
enabling the pay off and elimination of all prior outstanding convertible
notes without penalty
* Tripled production with the installation of new high-speed equipment to
expand production at its Pure Health Products facility in Lacey,
Washington
* Raised a total of $4.0 million in equity with ongoing Reg A offering
* Cash balance of $1.7 million, as of April 2021
Financial Highlights for the Year Ended December 31, 2020 vs. 2019:
* Gross Profit Increased from 74% in 2019 to 84% in 2020 a 10% Increase
* Operating Expenses Decreased $1.8 million a 24% Decrease
* Operating Loss Decreased $1.5 million a 26% Decrease
* Cash balance of $0.5 million
Can B offers several lines of branded CBD products that include tinctures,
salves, topicals, skin care products. These brands include Canbiola, developed
for the medical community; Seven Chakras, a spa and beauty line; NuWellness
for independent Pharmacies, Pure Leaf Oil their flagship consumer brand and
Super Foods, a line of nutritional supplements. The Company deploys a
multi-channel distribution strategy with products sold via doctors, medical
facilities, retailers, online, and direct to consumer.
Key Events Subsequent to the End of 2020:
* Closed on the acquisition of assets and talent from a hemp derivative
development and manufacturing group. A newly formed wholly-owned
subsidiary, Botanical Biotech LLC ("BB"), will be the new home for
Florida-based research & development laboratory and extraction facility
for the Company. BB will focus on developing and implementing new
pharmacokinetics technology and partnering with global and emerging brands
to create innovative products and solutions that are positioned for
sustainability and wellness and are culturally driven.
* Signed a definitive agreement to acquire the assets of Imbibe Health
Solutions LLC ("Imbibe"), a developer and marketer of CBD and related
products. Imbibe has developed several CBD health and wellness products
including topical salves, bath soaks, massage oils, and energy and dietary
supplements. Can B will be putting Imbibe into one of its current inactive
wholly-owned subsidiaries and will be renaming that subsidiary to reflect
the products and culture that comes with the Imbibe acquisition.
* Partnered with Dr. Karl Zarse has launched ImmuneX2, a super immune
boosting twice a day AM/PM supplement. The two entities have developed a
cooperative medical office affiliate program to share in the revenues of
ImmuneX2. Can B will be targeting medical professionals and
direct-to-consumer sales channels to proactively optimize immune systems.
Financial Results for the Year Ended December 31, 2020:
Revenue for the year ended December 31, 2020 was $1,709,669, a decrease of
$595,834 or 26%, compared to $2,305,503 for the year ended December 31, 2019.
The decrease was due to the COVID-19 pandemic. Essentially, nationally
elective surgeries were curtailed in favor of emergency use of all operating
rooms and facilities, which dramatically curtailed the use of our ultrasound
device associated with patient recovery. Additionally, distributor and medical
office sales of our main-line CBD products such as tinctures and salves, were
diminished due to closing and limited access to medical office facilities,
again directly tied to the COVID pandemic.
Gross profit for the year ended December 31, 2020 was $1,431,607, resulting in
a gross margin of 83.7%, compared to $1,706,919 and 74.0% for the year ended
December 31, 2019. Absolute gross profit decreased due to an oversupply of
Hemp and CBD biomass in the market. Gross margin increased due favorable
product mix to higher margin products and outreach into additional market
segments such as wholesale and private label opportunities.
Operating expenses for the year ended December 31, 2020 were $5.8 million, a
decrease of $1.8 million or 24%, compared to $7.6 million for the year ended
December 31, 2019. This decrease was mainly attributable due to a decrease of
$2.8 million in officer's, director's compensation and consulting fees.
Operating loss for the year ended December 31, 2020 was $4.4 million, a
decrease of $1.5 million or 26%, compared to $5.9 million for the year ended
December 31, 2019.
Net loss for the year ended December 31, 2020 and 2019, was $5.7 million and
$5.9 million, respectively, a decrease of $0.2 million, or 3%. The resulting
EPS loss for the year ended December 31, 2020 was a ($1.36), as compared to an
EPS loss of ($2.20) for the year ended December 31, 2019.
About Can B Corp.
Can B Corp. (OTCQB:CANB) is a Health & Wellness company providing the highest
quality cannabidiol (CBD) products under the 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 is also a license holder of the LifeGuard®
Brand in developing a line of consumer products. The Company has launched
Super Foods, a line of nutritional supplements. Can B Corp. owns and operates
an R&D and production facility in Lacey, WA and Green Grow Farms, a licensed
hemp grow and cultivation in New York. To learn more about Can B Corp. and our
comprehensive line of high quality CBD 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
CANB just continues to make All the right moves. News just gets better and better.
•Extremely low float
•Debt Elimination
•Expansion
•Continued Growth
Just can’t fool Smart Money from Accumulating at these Oversold Levels...Period
Picking up more shares today.
Smart Money will keep Accumulating HYSR.
As we follow CANB daily through 2021 and Beyond it will be hard for some to see it reach $2.00 plus. OTC haters will never change.
Bottom is in, heavy Accumulation about to take place.
Smart Money will not be left out for sure.
Misleading, CANB and sector will continue to heat up well into 2021 and Beyond. Smart Money will continue to Accumulate.
Continued Growth
New Products
Expansion
Nasdaq Bound
Very Smart Move Sir Adding Shares. CANB will be a force in this sector 2021 and Beyond. To state otherwise is misleading.
Continued Growth
Expansion
New Products
Nasdaq Bound
Etc,Etc,Etc
Bottom is in, best not to wait to long to get back in :)
Excellent entry price for sure!
Unfortunately OTC is not for everyone. Yet All eyes following 24/7.
CANB Accumulation will continue 2021 and Beyond :)
Patience
Vision, a learning process.
CANB setting up for a Spectacular 2021 and Beyond. OTC stocks Is not for everyone.
CANB, easily $2.00 plus coming. No wonder all eyes watching 24/7.
Accumulation Continues.
Excellent, thanks
Very Impressive Indeed:
The Q1 Virtual Investor Summit will feature approximately 100 companies and over 300 institutional, family offices, high net worth investors, and registered investment advisers.
Yep, SIPC looking strong for 2021. Loading Continues.
Excellent News.
Spot On. That’s why Interest in CANB Continues to Grow daily.
Got that right. Holding and Loading Continues.
CANB 21% Up today. Smart Money knows all the Positives happening in 2021 and will keep on Accumulating at these low levels.
CANB looking Great again today, no wonder Smart Money keeps Accumulating.
2021 will be Spectacular for CANB and No one wants to be left behind that’s for sure.
Must be Continued Huge Interest in CANB, sooo hard to pull away as Interest Grows.
Continued Growth
Expansion
New Products
Patience is key as Accumulation Continues
Must be Continued Huge Interest in CANB, sooo hard to pull away as Interest Grows.
Continued Growth
Expansion
New Products
Patience is key as Accumulation Continues
CANB, easily $2.00 plus coming. No wonder all eyes watching 24/7.
Accumulation Continues.
CANB chart setting up for a Strong North Bound move soon.
Grabbed some more shares today, I will not be left behind chasing before this happens.
Continued Growth and Expansion
Nasdaq future
New Products
Vision and Patience will payoff Greatly with CANB
Smart Buyers purchasing today, I will be doing the same.
Don’t give up, keep trying to put the orders in. These discounted prices won’t last long.
Love the News Release. A Huge Positive for CANB for Sure!
Loading more and Holding.
Excellent News Release. Loaded and buying more shares.
Excellent News Release. Smart Money will continue to Accumulate.
Excellent News, no wonder Smart Money keeps Accumulating CANB!
:
Stimulus bill passed in Senate today. Congress can now get to work on HR-841 to legalize pure Hemp-CBD
CANB
NASDAQ
Misleading, grabbed more SIPC shares on Ameritrade.
CANB is just getting started. Pure Hemp-CBD legalization coming with the passage of HR-841.
Only a Moron would think otherwise.
Patience is Key and understood by most.
•Nasdaq
•Continued Growth and Expansion
•New Products
Easy to see why Accumulation Continues
It’s Time to Load Up on SIPC.
Agree 100%. CANB loading Time is Now.
$2.00 Plus Coming, and that’s just the beginning, 2021 will be epic for CANB, Period.
Buyers Attacking CANB Aggressively today again today!
Smart!
Pure Hemp-CBD legalization coming. To say otherwise is Comical!
CANB