CBD OF DENVER, INC. (CBDD) 2020 Year In Review
DENVER, Dec. 9, 2020 /PRNewswire/ -- CBD of Denver, Inc. (OTC: CBDD), a full-line CBD and Hemp oil company ("CBDD") selling Black Pearl CBD hemp products and a producer and distributor of CBD products in Switzerland today provides shareholders with a recap of the Company's incredible progress during 2020.
In February 2020 Swiss Industry Ventures became majority shareholder of CBDD with a plan to develop revenue producing operations in Switzerland. Marcel Gamma, based in Switzerland became CEO of CBD of Denver, Inc. and Nicholas Sprung became president of the Company, continuing to direct US operations.
US operations focused on the Company's Black Pearl CBD e-commerce website, maintaining an office in Centennial, Colorado.
Meanwhile, Swiss Industry Ventures brought its Rockflowr and CBDWelt24 CBD operations under the CBDD umbrella, selling these companies to CBDD in May and June 2020.
When Swiss Industry Ventures first became majority shareholder of CBDD the operational revenue of CBDD was less than $50,000 per year and the market cap was about $800,000. With the acquisition of CBDWelt24 and Rockflowr CBDD's revenue rose to $517,025 for the quarter ended June 30, 2020, more than 10 times its projected annual revenue, even though it was only able to account for a portion of the total $1,893,688 in revenue its new Swiss subsidiaries generated, having acquired them more than halfway through the quarter. For the third quarter ended September 30, 2020, CBDD achieved revenue of $5,963,820 with a gross profit of $484,666. The market capitalization of CBDD is more than $40,000,000 as of December 8, 2020.
Over the past four weeks we have restructured our divisions to integrate all divisions with the same brand.
Rockflowr Exchange (formerly Rockflowr) is becoming one of the leading CBD wholesale companies in Switzerland and throughout Europe.
Rockflowr Production (formerly CBDWelt24), currently running two production facilities in Switzerland is planning to expand its production capacity by five times in 2021 and become a GMP-certified producer for medical cannabis and CBD.
Rockflowr Retail is planning to further expand into B2B and B2C markets. Rockflowr Retail has entered into an agreement with SPAR Switzerland, a Swiss grocery chain with 186 stores, for a 5-store pilot program featuring Rockflowr products. Rockflowr Retail will also expand its B2C business with a new e-commerce site while expanding its direct to consumer marketing.
Additionally, CBDD has begun taking certain corporate actions to improve transparency and enhance shareholder confidence. "We have been interviewing auditors for the past three weeks and are confident we will engage an auditor in December 2020 to audit our financial statements," says CEO Marcel Gamma. The Company is also exploring its options for moving to a more robust trading market.
"I am extremely proud of the progress we have made this year," said CBDD CEO Marcel Gamma. "These are just the first steps on our journey to become one of the most successful CBD companies in Switzerland and Europe. We invite our shareholders to visit our operations and facilities in Switzerland. For those who can't make it to Switzerland, I encourage you to follow us on Instagram: @CBDWelt24 @CBDofDenver_Inc @Rockflowr."
CBDD is focused on using equity to acquire profitable Swiss assets at attractive valuations to create value for all our shareholders
CBDD offers a superior CBD product that is full spectrum without depending on THC to activate the benefits of cannabidiol. Black Pearl CBD has 0% THC, but is not an Isolate where the THC is stripped from the product rendering it ineffective. We use a proprietary technique adding terpenes as the activation ingredient, resulting in a product that is the finest in the industry. CBDD just received word that their new ecommerce website is now operational with new products and can be found at www.blackpearlcbd.com.
Information contained herein includes forward-looking statements. These statements relate to future events or future financial performance, involving known and unknown risks and you should not place undue reliance on these statements. Any forward-looking statement reflects our current views with respect to future events. We assume no obligation publicly about update or revise these forward-looking statements for any reason.
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SOURCE CBD of Denver, Inc.
