Can B Corp CANB

Can B Corp. is a health and wellness company. It is engaged in developing, manufacturing, and selling products containing cannabinoids derived from hemp biomass and the licensing of durable medical devices. Its products include oils, creams, moisturizers, isolates, gel caps, spa products, and concentrates and lifestyle products. It develops its own line of proprietary products, as well seeks synergistic value through acquisitions in the hemp industry. Its Duramed Division provides a sam Pro 2.0 medical device to patients through a doctor program whereby the physician evaluates the patients' needs for medical necessity, and if determined that the device use would be beneficial, writes a prescription for the patient, who signs a rental form, for a 35-day cycle for the unit, that is submitted to Duramed who bills the appropriate insurance company. Its products are sold to consumers online, via retailers, marketing partners, and events through doctors and health and wellness organizations.

OTCQB:CANB - Post by User

Can B Corp

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Post by AveragePennyon May 18, 2022 12:08pm

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Post# 34692545

Can B Corp. Reports First Quarter Revenue Growth of 606%

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

https://www.globenewswire.com/news-release/2022/05/18/2445760/0/en/Can-B-Corp-Reports-First-Quarter-Revenue-Growth-of-606-to-1-9-Million-the-Highest-Quarterly-Revenue-in-Company-History.html

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