Denver, Colorado--(Newsfile Corp. - December 28, 2023) - CBD of Denver, Inc. (OTC Pink: CBDD), reports a strong fourth quarter, with revenues reaching approximately $1,310,000 with a split of approximately $1,134,000 for Luxora and approximately $176,000 for Libra 9.
"Despite a challenging economic environment, the increase in revenue confirms that our strategies are driving growth across both verticals. With a current order backlog of approximately $150,000 for the Anti-Slip product line, we are confidently entering the new year," says Axel Reinke, CEO of CBD of Denver. In early January 2024, CBDD's management team will meet in Berlin to initiate the expansion of the Anti-Slip division. This will involve onboarding new installation and sales teams and beginning the rollout of Anti-Slip solutions in additional German metropolitan areas.
The company attributes its growth to several factors.
"The partnership between EDEKA and the Magic Lappen product is driving sales across various regions in Germany. Additionally, the Libra 9 team's consistent presence at numerous trade shows is enhancing brand recognition and fostering new partnerships. These partnerships range from wine dealers to specialized car cleaning and detailing companies, and include a teleshopping partnership," states Mr. Reinke.
The Anti-Slip division is seeing increased demand due to a novel door cut-out method that converts existing bathtubs into barrier-free walk-in showers. "With the introduction of this new installation method and favorable regulatory changes, we can expand the Anti-Slip product line to a broader customer base. Beginning in January, we will launch new initiatives to fully capitalize on the significant potential we see in this vertical," Mr. Reinke emphasizes.
Luxora's ongoing efforts in the European CBD wholesale market are significantly contributing to growth. "Despite continued market challenges and consolidation in the CBD industry, there is a strong interest in our products. Our partnerships in North and South America are crucial in maintaining our competitive edge and expanding our client network as we explore new markets," remarks Jan Schwager, CEO of Luxora.
HolistiCH GmbH, known for its exclusive THC and CBD dominant strains, is expanding its footprint. The company has formed new partnerships in Austria, strengthening its position as a leading provider of cannabis clones in Europe.
Luxora Solutions is poised to enter the German market, pending the final approval of relevant legislation by the German government. "Several members of the Social Democratic Party have publicly announced that the budget crisis within the German government has postponed the second and third readings of the new Cannabis law until next year. Despite this, we remain optimistic about adhering to our timeline and launching Luxora Solutions in Germany as scheduled," explains Philipp Ferrer, Chief Compliance Officer at Luxora.
The company has hired a new accounting specialist, proficient in both US and European accounting and reporting principles, who has already started preparing the next filings to avoid previous delays. Our goal moving forward is to close each month's accounts by the 10th of the following month and to implement a group-wide reporting system, enabling management to adopt a more data-driven review process that will improve the planning process which will ultimately drive the execution of the developed plan.
About CBD of Denver, Inc. (BERLINER INNOVATION)
CBD of Denver, Inc. is focused on acquiring profitable assets at attractive valuations to create value for shareholders. The company's team is dedicated to sourcing high-margin, innovative products that align with its values. The Company is offering a number of innovative consumer products through Libra 9 GmbH, such as the Magic Lappen and the BerlinR13 Anti-Slip solution.
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Follow The Magic Lappen on Instagram: @themagiclappen
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Visit the CBDD/ Berliner Innovation: www.berlinerinnovation.de
For questions, please contact us at: investors@libra9.de
About LUXORA LLC
LUXORA LLC is a trailblazing entity in the European cannabis industry, with offices spanning the USA and Europe. Our core expertise revolves around unlocking the potential of the legalized cannabis market, offering infrastructure solutions and consulting tailored to the dynamic needs of this rapidly expanding sector. With a profound understanding of the opportunities and challenges brought forth by legalization, our experienced team is dedicated to pioneering the future of the legal cannabis market in Europe. Our offerings range from consulting and market research to product development and distribution solutions, aimed at simplifying the path to legalization for our esteemed clients.
For inquiries, please contact Investor Relations: investors@luxora-holding.com
For more information, please visit: www.luxora-holding.com
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