OTCQB:CANB - Post by User
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AveragePennyon Nov 05, 2021 12:21pm
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Post# 34092565
Can B Corp. Reports 316% Revenue Growth to a Quarterly Rev
Can B Corp. Reports 316% Revenue Growth to a Quarterly Rev Key Financial Highlights during Q3 2021
- Revenue increased 316% in 3rd quarter 2021 to $1.9 million compared to Q3 2020- (a trend expected to continue into subsequent quarters into 2023
- Gross profit increased 261% to $1.4 million compared to Q3 2020
- Total assets increased to 14.2 million
- Total stockholders' equity increased to $5.7 million
Key Business Highlights during Q3 2021
- Provided acquisition opportunities to produce 13,000 liters of Delta-8 and other isomers with potential $10 million revenue
- Secured lease for 300,000 square foot facility in McMinnville, Tennessee
- Closed acquisition of assets from TWS Pharma in Colorado to significantly expand capabilities in converting hemp biomass to isolate used in our CBD and isomer product lines
- Closed acquisition of assets from Music City Botanicals to strengthen its vertical processing capabilities
- Partnered with group of professional Hollywood stuntmen and world champion action sports athletes for CBD products.
- Company reassessing potential of NASDAQ up-listing