Business
CBD of Denver Inc. Reports Q2 2021 Financial and Business Highlights
CBD of Denver Inc. Reports Q2 2021 Financial and Business Highlights.
About this update from Cbd Of Denver Inc.
[{"type":"text","content":"Denver, Colorado--(Newsfile Corp. - August 24, 2021) - CBD of Denver, Inc. (OTC Pink: CBDD), a full-line CBD and hemp oil company and a producer and distributor of cannabis and CBD products in Switzerland and Europe, is pleased to announce its financial and business highlights for the second quarter ended June 30, 2021.Second Quarter 2021 Financial Highlights Revenue increased 2,803% to over $14.4 million for Q2 2021 compared to $517,025 in Q2 2020 Gross profit increased 975% to over $1.5 million for Q2 2021 compared to $154,203 in Q2 2020 Net income increased 641% to over $1.2 million for Q2 2021 compared to a loss of $189,704 in Q2 2020 Second Quarter 2021 Business Highlights The Company successfully increased its customer base from 20 customers in early 2020 to more than 400 loyal recurring customers by end of Q2 2021.The Company's retailer network, which began with two shops in March 2000, expanded to a loyal customer base of 26 shops in Switzerland, 41 shops in Germany, 30 shops in France, 2 shops in Italy, 1 shop in Poland and 2 shops in Guadeloupe, for a total amount of more than 100 shops, as of the end of Q2 2021.The Company is the premier supplier to 60 wholesalers across Europe as of the end of Q2 2021, up from just five wholesalers accounting for 60% of its revenue in early 2020.Rockflowr Production started with its own monthly production of 25-30kg of high-grade indoor hemp flowers in May 2020 and as of the end of Q2 2021 has grown to over 20,000 lamps with 1000 watt each (total capacity of 20 million watt or 20 tons of indoor production per year) of outsourced production capacity supplying our customer base.Financial StatementsThe Below is from the Unaudited Condensed Interim Financial Statements for the Three and Six Months Ended June 30, 2021 and 2020; Please Refer to the Complete Report, Including the Notes, Other Statements and Other Contents Therein. Six Months Six Months Three MonthsThree Months Ended Ended EndedEnded 6/30/2021 6/30/2020 6/30/20216/30/2020       Sales $               14,494,477  $                    517,025 $      7,136,628$         515,840Cost of sales  &#...