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Can B Corp. (CANB)

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0.4600+0.0900 (+24.32%)
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Previous Close0.3700
Open0.4500
Bid0.0000 x 0
Ask0.0000 x 0
Day's Range0.3810 - 0.4700
52 Week Range0.0115 - 7.2000
Volume52,924
Avg. Volume24,182
Market Cap2.261M
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 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

  • Can B Corp Triples Production at its Facility in Lacey, Washington
    GlobeNewswire

    Can B Corp Triples Production at its Facility in Lacey, Washington

    Allows for Increases in Private Label and Direct-to-Consumer HICKSVILLE, NY, Nov. 12, 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 installation of new high-speed equipment to expand production at its Pure Health Products (“PHP”) facility in Lacey, Washington.The new production line equipment increases capacity by 8,000 units per day and adds speed and efficiency with automated processes. Upgrading from manual to automated equipment for tinctures, salves, cryogels, and massage oils greatly increase the production output by over three hundred percent (300%). The increase in capacity enables the Company to expand its capabilities in private label and direct-to-consumer.Marco Alfonsi, Can B’s Chief Executive Officer, commented, “We are pleased to announce that phase two of upgrading the manufacturing capacity is nearly complete. The final equipment has been fully tested and installed in our Lacey, Washington facility’s production cleanroom. This upgrade allows Pure Health Products to produce up to 10,000 units a day of bottles, tinctures, salves, lotions, or creams combined. The plant capacity will allow a potential bottling production of $40 million in sales at wholesale price.”Shanghai Panda Intelligent Machinery Co. was charged with the task of building a custom bottling line, designed by David Posel, Chief Scientist of PHP. The bottling line features two independent main bottling machines that merge into a single shrink-film machine and heat-shrink tunnel. The machines and layout were designed specifically with the needs of producing the CBD industry’s core retail products in mind. This custom triple bottling line with unified shrink tunnel will fill, cap, label, and shrink band all products including droppers, sprays, salves, lotions, creams, capsules, and cryogels. The main tincture and spray bottling line and the bottling line that fills the larger lotions, salves, and creams are now fully operational and on-line.The new Capsule Pouch Packing Machine was custom configured and manufactured by Ming Yue Packaging Machinery Co. to allow PHP to produce single-use packs of their popular capsule recipes, and custom or white-label products from 1 capsule to 12 capsules in each 3x3 inch retail pouch. This machine features a custom configured dual capsule feeding system, which allows two independently controlled precision capsule feeders to deposit into the same retail pouch. This uniquely allows PHP to produce any configuration of two different capsule blends in the same unit with up to 12 total capsules.This concept gives PHP the leading edge in first-to-market packaging as no competitor has utilized this method to-date. The lot and expiration numbers are heat-stamped onto the edge of each packet to ensure proper consumer quality standards. This custom dual-feed packaging machine is rated to produce up to 10,000 packets per day.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 Products, FDA Approved Medical Devices, Subsidiaries and Medical Team Among Topics Discussed by Company Director and CFO Stanley Teeple
    GlobeNewswire

    Can B Corp Products, FDA Approved Medical Devices, Subsidiaries and Medical Team Among Topics Discussed by Company Director and CFO Stanley Teeple

    HICKSVILLE, NY, Oct. 29, 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 release of CFO Stanley Teeple’s podcast interview by Stock Market Podcast. In this podcast, Mr. Stanley Teeple discusses the current state of Can B, FDA Products, Brands, and Subsidiaries including their own R&D and production facility.To access the audio interview, select your favorite provider listed here:Anchor.FM: https://anchor.fm/stock-market-podcast Apple Podcasts: https://podcasts.apple.com/us/podcast/stock-market-podcast/id1509941030 Breaker: https://www.breaker.audio/stock-market-podcastGoogle Podcasts: https://podcasts.google.com/?feed=aHR0cHM6Ly9hbmNob3IuZm0vcy8xZTRhY2Q0Yy9wb2RjYXN0L3Jzcw%3D%3D Overcast: https://overcast.fm/itunes1509941030/stock-market-podcast Pocket Casts: https://pca.st/6bp7q9e8 RadioPublic: https://radiopublic.com/stock-market-podcast-WaOVRA Spotify: https://open.spotify.com/show/3Xe0ze4aqIkm2gpRQOfzJM 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 CorpYouTubeForward-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. “The statements contained in the Podcast have not been evaluated by the Food and Drug Administration. The Company’s products are not intended to diagnose, treat, cure, or prevent any disease.”Investors and Media: IR@canbiola.com(917) 658-7878