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Can B Corp. (CANB)

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0.7100-0.0500 (-6.58%)
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Previous Close0.7600
Open0.7700
Bid0.0000 x 0
Ask0.0000 x 0
Day's Range0.6600 - 0.7700
52 Week Range0.0129 - 7.2000
Volume58,886
Avg. Volume45,950
Market Cap3.49M
Beta (5Y Monthly)0.69
PE Ratio (TTM)N/A
EPS (TTM)-2.7600
Earnings DateNov 18, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
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  • Can B Corp Closes $2.8 Million New Financing
    GlobeNewswire

    Can B Corp Closes $2.8 Million New Financing

    Eliminates All Prior Existing Convertible Debt and Provides Growth Capital HICKSVILLE, NY, Dec. 17, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire \-- Can B Corp. (OTCQB: CANB) (“Can B” or the “Company”), a diversified health and wellness company, is pleased to announce the closing of a $2.8 million debt financing from an institutional investor.The investment enables Can B to pay off and eliminate all prior outstanding convertible notes without penalty. In addition, the new investment, along with an ongoing Reg A offering, should provide the capital needed to return to growth in 2021.  Please see the Company’s recently filed 8K https://tinyurl.com/ycw5muor for complete details of the new debt financing.As Can B closes the year of the COVID and starts fresh in 2021 with a feeling of optimism with all of the company’s operating divisions trending upward. The Company’s actions over the last year have led to development of a vertically integrated platform for controlling its products from seed to sale with a multi-prong channel strategy in bringing health and wellness to consumers.  Pure Health Products is gearing up for an intended GMP certification in the first quarter of 2021, a path Company believes, that every CBD manufacturer will be required to meet in the future. Pure Health Products is also securing additional new white label customers as well as adding to its own branded line of products. Additionally, Duramed has expanded its no-fault insurance products and service availability to the state of Michigan and has added with new medical devices to its portfolio.Marco Alfonsi, Can B’s Chief Executive Officer, commented, “This transaction marks a significant milestone for the Company as we were able to pay off and eliminate all prior existing convertible notes to avoid default and in addition to have the capital needed to return to growth in 2021. We look forward to continuing to build value for all of our shareholders.”About Can B Corp.Can B Corp. (OTCQB: CANB) is a Health & Wellness company providing the highest quality cannabidiol (CBD) products under the brands of Canbiola, Seven Chakras, NuWellness, Pure Leaf Oil, and Duramed. Can B utilizes multi-channel distribution to reach consumers, including medical facilities, doctor offices, retailers, online and direct. Can B is also an exclusive partner of the LifeGuard® Brand in developing a line of consumer products. The Company is also launching Super Foods, a line of nutritional supplements. Can B Corp. owns and operates an R&D and production facility in Lacey, WA, and Green Grow Farms, a licensed hemp grow and cultivation in New York. To learn more about Can B Corp. and our comprehensive line of high-quality CBD products, please visit: Canbiola.com and www.CanBCorp.com, follow Can B Corp on Instagram and Facebook, or visit one of the 1,000+ retail outlets that carry Can B Corp. products.For more information about Can B Corp., please visit: CanBCorp.comTwitter @CanBCorpInstagram @canbcorpFacebook @ Can B CorpForward-Looking StatementsForward-looking statements and risks and uncertainties discussed in this release contain forward-looking statements. The words "anticipate," "believe," "estimate," "may," "intend," "expect," and similar expressions identify such forward-looking statements. Expected, actual results, performance, or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements contained herein. Forward-looking statements are subject to a number of risks and uncertainties, including but not limited to, risks and uncertainties associated with, among other things, the impact of economic, competitive, and other factors affecting our operations, markets, products, and performance. The matters discussed herein should not be construed in any way, shape, or manner of our future financial condition or stock price. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.Investors and Media:IR@canbiola.com(917) 658-7878

  • Can B Corp to Present at The 13th Annual LD Micro Main Event Conference
    GlobeNewswire

    Can B Corp to Present at The 13th Annual LD Micro Main Event Conference

    HICKSVILLE, NY, Dec. 09, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire \-- Can B Corp. (OTCQB: CANB) (“Can B” or the “Company”), a diversified health and wellness company, announced today that it will be presenting at the 13th annual LD Micro Main Event investor conference on Tuesday, December 15 at 9 am EST. Chief Executive Officer Marco Alfonsi and Chief Financial Officer Stan Teeple will be presenting to a live, virtual audience.  Register here: ve.mysequire.com/The Main Event will feature a new and unique format, with companies presenting for 10 minutes, followed by 10 minutes of Q&A by a panel of investors and analysts. “The time has finally come to do something different in the virtual conference world. Let’s see if we can pull off something that can be enjoyed by both executives and investors alike,” stated Chris Lahiji, Founder of LD, now a wholly-owned subsidiary of SRAX, Inc.The Main Event will take place on December 14th and 15th, exclusively on the Sequire Virtual Events platform. View Can B’s profile here: http://www.ldmicro.com/profile/CANBAbout LD Micro/SEQUIRELD Micro began in 2006 with the sole purpose of being an independent resource to the microcap world. What started as a newsletter highlighting unique companies, has transformed into the pre-eminent event platform in the space. For more information, please visit ldmicro.com.The upcoming Main Event will be highlighting a new format that will benefit both executives and the investors tuning in from all over the globe. In September 2020, LD Micro. Inc. was acquired by SRAX, Inc., a financial technology company that unlocks data and insights for publicly traded companies. Through its premier investor intelligence and communications platform, Sequire, companies can track their investors’ behaviors and trends and use those insights to engage current and potential investors across marketing channels. For more information on SRAX, visit srax.com and mysequire.com.About Can B Corp.Can B Corp. (OTCQB: CANB) is a Health & Wellness company providing the highest quality cannabidiol (CBD) products under the brands of Canbiola, Seven Chakras, NuWellness, Pure Leaf Oil, and Duramed. Can B utilizes multi-channel distribution to reach consumers, including medical facilities, doctor offices, retailers, online and direct. Can B is also an exclusive partner of the LifeGuard® Brand in developing a line of consumer products. The Company is also launching Super Foods, a line of nutritional supplements. Can B Corp. owns and operates an R&D and production facility in Lacey, WA, and Green Grow Farms, a licensed hemp grow and cultivation in New York. To learn more about Can B Corp. and our comprehensive line of high-quality CBD products, please visit: Canbiola.com and www.CanBCorp.com, follow Can B Corp on Instagram and Facebook, or visit one of the 1,000+ retail outlets that carry Can B Corp. products.For more information about Can B Corp., please visit: CanBCorp.comTwitter @CanBCorpInstagram @canbcorpFacebook @ Can B CorpForward-Looking StatementsForward-looking statements and risks and uncertainties discussed in this release contain forward-looking statements. The words "anticipate," "believe," "estimate," "may," "intend," "expect," and similar expressions identify such forward-looking statements. Expected, actual results, performance, or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements contained herein. Forward-looking statements are subject to a number of risks and uncertainties, including but not limited to, risks and uncertainties associated with, among other things, the impact of economic, competitive, and other factors affecting our operations, markets, products, and performance. The matters discussed herein should not be construed in any way, shape, or manner of our future financial condition or stock price. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.Investors and Media:IR@canbiola.com(917) 658-7878

  • Can B Corp Announces Third Quarter 2020 Results
    GlobeNewswire

    Can B Corp Announces Third Quarter 2020 Results

    Efficiencies and Lower Expenses Lead to a Significant Reduction in Operating Loss HICKSVILLE, NY, Nov. 18, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire \-- Can B Corp. (OTCQB: CANB) (“Can B” or the “Company”), a diversified health and wellness company, announced today operating and financial results for the third quarter ended September 30, 2020.Management Commentary:Marco Alfonsi, Can B’s Chief Executive Officer, commented, “Our focused efforts on reducing costs has led to a significant reduction in operating losses. Additionally, when backing out non-cash expenses, our adjusted operating loss decreased by 37% to just over $200,000 for the quarter, largely attributable to the lay-offs due to COVID-19 circumstances.   Mr. Alfonsi continued, “With that said, our team is driven to execute on our strong pipeline and evolve opportunities into sales and return to revenue growth. We are well-positioned with a diversified product line up, exclusive license to use LifeGuard® on various products, multi-channel distribution strategy, our R&D and production facility in Lacey, WA, and our Green Grow Farms, a licensed hemp grow and cultivation in New York. We look forward to a return to more normalcy and expect to return to growth mode in 2021.”Pure Leaf Oil Brand Products Available at United Grocery OutletThe initial product offerings are 3 oz. Roll-On CBD products and the first order has been delivered and sold out in several stores. Pure Leaf Oil, a product of Pure Health Products, LLC, is fulfilling reorders currently. Our team has been working to develop our white label business offerings and this is another step in growing this segment. In business since 1974, United Grocery Outlets are a highly reputable closeout grocery merchant buying and selling most products sold in supermarkets. From its distribution center in Athens, Tennessee, it operates retail outlets in Tennessee, Georgia, North Carolina, Kentucky, Virginia, and Alabama. The company currently operates 38 stores in 6 States and www.myugo.com.Financial Highlights for the Three Months Ended September 30, 2020, vs. 2019:·         Gross Profit Increased from 77% in 2019 to 85% in 2020      an 8% Increase·         Operating Expenses Decreased $247,085                             an 18% Decrease·         Operating Loss Decreased $162,628                                     a 17% Decrease·         Adjusted Operating Loss Decreased $122,212                      a 37% DecreaseFinancial Results for the Three Months Ended September 30, 2020:Revenue for the three months ended September 30, 2020, was $459,496, a decrease of $155,926, or 25%, compared to $615,422 for the three months ended September 30, 2019. This decrease was due to the impact of the COVID-19 outbreak.Gross profit for the three months ended September 30, 2020, was $389,115, a decrease of $84,457, or 18%, compared to $473,572 for the three months ended September 30, 2019. The resulting gross margin was 85% for the three months ended September 30, 2020, compared to 77% for the three months ended September 30, 2019.Operating expenses for the three months ended September 30, 2020 were $1,161,751, a decrease of $247,085, or 18%, compared to $1,408,836 for the three months ended September 30, 2019. Operating expenses for the three months ended September 30, 2020, included non-cash expenses resulting from stock-based compensation for employees and consultants of $397,976 and amortization of intangible assets of $169,398, compared to $602,823 and $4,967 for the three months ended September 30, 2019.Operating loss for the three months ended September 30, 2020, was $772,636, a decrease of $162,628, or 17%, compared to $935,264 for the three months ended September 30, 2019.Adjusted operating loss for the three months ended September 30, 2020, was $205,262, a decrease of $122,212, or 37%, compared to $327,474 for the three months ended September 30, 2019. Adjusted operating loss does not include non-cash stock-based compensation and amortization of intangible assets.Net loss for the three months ended September 30, 2020 was $1,233,175, an increase of $292,077, or 31%, compared to $941,099 for the three months ended September 30, 2019. The resulting EPS loss for the three months ended September 30, 2020, was a ($0.29), as compared to an EPS loss of ($0.32) for the three months ended September 30, 2019.Financial Results for the Nine Months Ended September 30, 2020:Revenue for the nine months ended September 30, 2020 was $1,234,287, a decrease of $531,874, or 30%, compared to $1,766,161 for the nine months ended September 30, 2019. This decrease was due to the impact of the COVID-19 outbreak.Gross profit for the nine months ended September 30, 2020 was $994,312, a decrease of $68,242, or 6%, compared to $1,062,554 for the nine months ended September 30, 2019. The resulting gross margin was 81% for the nine months ended September 30, 2020, compared to 60% for the nine months ended September 30, 2019.Operating expenses for the nine months ended September 30, 2020 were $3,998,414, a decrease of $608,884, or 13%, compared to $4,607,298 for the nine months ended September 30, 2019. Operating expenses for the nine months ended September 30, 2020, included non-cash expenses resulting from stock-based compensation for employees and consultants of $916,386 and amortization of intangible assets of $446,556, compared to $1,018,786 and $12,127 for the nine months ended September 30, 2019.Operating loss for the nine months ended September 30, 2020 was $3,004,102, a decrease of $540,642, or 15%, compared to $3,544,744 for the nine months ended September 30, 2019.Adjusted operating loss for the nine months ended September 30, 2020 was $1,641,160, a decrease of $872,671, or 35%, compared to $2,513,831 for the nine months ended September 30, 2019. Adjusted operating loss does not include non-cash stock-based compensation and amortization of intangible assets.Net loss for the nine months ended September 30, 2020 was $3,598,208, an increase of $47,104, or 1%, compared to $3,551,104 for the nine months ended September 30, 2019. The resulting EPS loss for the nine months ended September 30, 2020, was a ($0.95), as compared to an EPS loss of ($1.30) for the nine months ended September 30, 2019.About Can B Corp.Can B Corp. (OTCQB: CANB) is a Health & Wellness company providing the highest quality cannabidiol (CBD) products under the brands of Canbiola, Seven Chakras, NuWellness, Pure Leaf Oil, and Duramed. Can B utilizes multi-channel distribution to reach consumers, including medical facilities, doctor offices, retailers, online and direct. Can B is also an exclusive partner of the LifeGuard® Brand in developing a line of consumer products. The Company is also launching Super Foods, a line of nutritional supplements. Can B Corp. owns and operates an R&D and production facility in Lacey, WA, and Green Grow Farms, a licensed hemp grow and cultivation in New York. To learn more about Can B Corp. and our comprehensive line of high-quality CBD products, please visit: Canbiola.com and www.CanBCorp.com, follow Can B Corp on Instagram and Facebook, or visit one of the 1,000+ retail outlets that carry Can B Corp. products.For more information about Can B Corp., please visit: CanBCorp.comTwitter @CanBCorpInstagram @canbcorpFacebook @ Can B CorpForward-Looking StatementsForward-looking statements and risks and uncertainties discussed in this release contain forward-looking statements. The words "anticipate," "believe," "estimate," "may," "intend," "expect," and similar expressions identify such forward-looking statements. Expected, actual results, performance, or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements contained herein. Forward-looking statements are subject to a number of risks and uncertainties, including but not limited to, risks and uncertainties associated with, among other things, the impact of economic, competitive, and other factors affecting our operations, markets, products, and performance. The matters discussed herein should not be construed in any way, shape, or manner of our future financial condition or stock price. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.Investors and Media:IR@canbiola.com(917) 658-7878