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DENVER, July 27, 2020 /PRNewswire/ -- CBD of Denver, Inc. (OTC: CBDD), a full-line CBD and Hemp oil company ("CBDD") selling Black Pearl CBD and hemp products and the owner of CBD Social Network, today is providing additional information on the revenue reported for Rockflowr, GmbH and CBD Welt 24, GmbH.
Revenue for Rockflowr and CBD Welt 24, subsidiaries of CBD of Denver, Inc., was reported in CBDD's 2nd Quarter Disclosure with OTC Markets as of the date each company was acquired and not for their own full quarter. To provide context for the revenue numbers reported in CBDD's quarterly statement, CBBD is providing the revenue generated by Rockflowr and CBD Welt24 for their full quarters and not just since they were acquired by CBDD in the middle of quarter.
Rockflower: For the period from April 1, 2020 through June 30, 2020 Rockflowr had revenue of 1,710,000.00 CHF or approximately $1,833,120.00 USD with net profits of 131,089 CHF or approximately $140,527 USD.
CBD Welt 24: For the period from April 1, 2020 through June 30, 2020 CBD Welt24 had revenue of 56,500.00 CHF or approximately $60,568,00 with a net profit 45,416 CHF of approximately $48,686 USD. This amount only reflects revenue after the first harvest as it took two months from initial planting until first harvest to generate revenue. Moving forward, CBD Welt24 expects a harvest every month that should substantially increase revenue.
Additionally, the second quarter marks the first time since CBDD's inception that it posted a net profit. This profit is an indication of the success of the Company's drive to increase shareholder value.
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. Products are available 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.