Can B Corp (CANB)

[skyhawk66]

THE HIGHEST QUARTERLY REVENUE IN COMPANY HISTORY, Very Impressive Indeed:

Can B Corp. Reports First Quarter Revenue Growth of 606% to $1.9 Million, the Highest Quarterly Revenue in Company History
May 18 2022 - 07:26AM
InvestorsHub NewsWire
Strengthened Balance Sheet with Increases to $17.0 Million in Total Assets and $6.2 Million in Stockholders Equity

HICKSVILLE, NY -- May 18, 2022 -- InvestorsHub NewsWire -- 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 first quarter ended March 31, 2022.

Key Financial Highlights for Q1 2022

Revenue increased 606% to $1.9 million
Gross profit increased 291% to $0.7 million
Adjusted EBITDA loss decreased 30% to $0.9 million
Total assets increased to $17.0 million
Total stockholders’ equity increased to $6.2 million
Key Business Highlights for Q1 2022

Solidified and integrated vertical processing capabilities from recent acquisitions
Advanced build-out of first CBD lounge in Miami, Florida
Continuing path for potential NASDAQ up-listing
Management Commentary

As for the Nubies to know, the net loss was a direct result of professional fees and other accounting and legal fees related to the Company’s registration statement S-1 filing efforts.
Of note, $2.3 million of the Company's operating expenses for the three months ended March 31, 2022, were non-cash expenses.