$CBDD News: Denver, Colorado--(Newsfile Corp. - No
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Posted On: 12/14/2021 7:41:32 AM
$CBDD News: Denver, Colorado--(Newsfile Corp. - November 10, 2021) - CBD of Denver, Inc. (OTC Pink: CBDD), a full-line CBD and hemp oil company and a producer and distributor of cannabis and CBD products in Switzerland and Europe, is pleased to announce it generated net profit of $0.1 million on $1.4 million (USD) in revenue in October 2021, increasing its year-to-date revenue total to $22.6 million.
"Rockflowr continues to maintain a high level of total products sold, with 1,181 kilograms (kg) sold in October, compared to 1,221kg sold in same month of 2020, which continues the strong trends of the previous year," stated Marcel Gamma, CEO of CBD of Denver. "The European market has experienced a dramatic slump in demand in October, and pricing pressures remain across the industry. Despite that, we were able to keep our sales volume on a high level and we believe the consolidation underway in the European CBD will ultimately lead to a recovery of product pricing moving forward."
"In the first phase of market consolidation that began in 2018, product prices experienced a similar decline, then went on to more than double less than two years later," continued Gamma. "Despite these market challenges, I am confident our team will continue to perform at exceptional levels, as demonstrated by our 73% year-over-year growth during the March through October period, reaching $17.9 million and representing 79% of our year-to-date total revenues."
"Rockflowr continues to maintain a high level of total products sold, with 1,181 kilograms (kg) sold in October, compared to 1,221kg sold in same month of 2020, which continues the strong trends of the previous year," stated Marcel Gamma, CEO of CBD of Denver. "The European market has experienced a dramatic slump in demand in October, and pricing pressures remain across the industry. Despite that, we were able to keep our sales volume on a high level and we believe the consolidation underway in the European CBD will ultimately lead to a recovery of product pricing moving forward."
"In the first phase of market consolidation that began in 2018, product prices experienced a similar decline, then went on to more than double less than two years later," continued Gamma. "Despite these market challenges, I am confident our team will continue to perform at exceptional levels, as demonstrated by our 73% year-over-year growth during the March through October period, reaching $17.9 million and representing 79% of our year-to-date total revenues."
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