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CBD of Denver Reports YoY Increase In 2023 Gross Profit, Reduces Loss As It Continues To Expand Internationally

By Jelena Martinovic
May 2, 1:05 PM
CBD of Denver, Inc. has filed its financial results for the year ended Dec. 31, 2023.The Colorado-based cannabis company said total current assets increased to $117,218 in 2023, up from $28,043 in 2022. Gross profit for the year totaled $595,417, representing a significant recovery from a gross loss of $284,734 in the prior year, due to a 27% increase in sales and a reduction in cost of goods sold. Net income before provision for income tax showed improvement with a loss of $377,729 in 2023, compared to a loss of $3,257,710 in 2022. CBD of Denver attributed it to the company's efforts to enhance operational efficiency and improve cost management.

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CBD Of Denver’s Success In Challenging Climate With Increase In Q4 Revenue

By Jelena Martinovic
December 28, 12:02 PM
CBD of Denver has reported strong fourth-quarter revenues of approximately $1.31m, with $1.13m generated by Luxora and $176,000 by Libra 9. The CBD company attributed its growth to a number of factors, including its partnership with EDEKA and the popularity of its Magic Lappen product, both of which increased sales across Germany. CBD of Denver also highlighted the success of Libra 9's attendance at trade shows, which boosted brand recognition and allowed the company to form several significant partnerships. Meanwhile, Luxora's expansion into the European CBD wholesale market was credited with contributing significantly to the company's growth. Following the German government's expected approval of relevant legislation, Luxora Solutions will expand further into the German market. Germany's decision on legalising marijuana, which was set to be made in December, has been delayed until next year.

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This U.S. Cannabis Company Is Targeting The German Retail Market: Sets Sights On Building Four Clubs

By Nicolas Jose Rodriguez
September 14, 12:18 PM
Colorado-based CBD of Denver, Inc. (OTC Pink: CBDD) announced Thursday that its wholly-owned subsidiary, Luxora, has taken a significant step into the European cannabis market by signing four Letters of Intent (LOIs) for the establishment and operation of four Cannabis Clubs in Germany.

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