Can B Corp Stock Price, News & Analysis

Can B Corp. (OTCQB: CANB) has partnered with American Development Partners (ADP) to finance and develop CBD Lounges. The first location is set to open in Wynwood, Miami, by April 2022. Each lounge will cost approximately $4 million to develop, with an initial commitment of $200 million from ADP for up to 100 venues. The partnership aims to enhance Can B's revenue potential in a non-dilutive manner for shareholders, with ADP acting as the exclusive developer for a 10-year term.

Can B Corp. (OTCQB:CANB) has formed a joint venture with PrimeX to market CBD products in Brazil, the fourth largest pharmaceutical market globally, with 210 million potential consumers. PrimeX will utilize its contract with Biocase Brasil for local production and distribution to 120,000 retailers. The Brazilian CBD market is anticipated to grow significantly, potentially reaching $4.7 billion in sales within three years following recent regulatory changes. This partnership marks a crucial expansion for Can B as it aims to leverage PrimeX's distribution network and deep connections in Brazil.

Can B Corp. (OTCQB: CANB) has announced that its subsidiary, Pure Health Products, has achieved the NSF/ANSI 455-2 dietary supplement GMP certification for its manufacturing facility in Lacey, Washington. This certification ensures compliance with U.S. GMP standards, allowing the company to produce dietary supplements for global retailers. CEO Marco Alfonsi highlighted the significance of this milestone, emphasizing the commitment to quality and safety. The NSF certification reflects the facility's adherence to stringent safety and quality protocols, enhancing trust in Can B's hemp-derived cannabinoid products.

Can B Corp. (OTCQB:CANB) reported impressive financial results for Q3 2021, achieving a 316% revenue increase to $1.9 million compared to Q3 2020. Gross profit rose by 261% to $1.4 million. The company expanded its operational capabilities with new acquisitions, including facilities for Delta-8 production, and plans to generate $10 million in revenue from isomer production. Total assets reached $14.2 million, while stockholders' equity increased to $5.7 million. The management aims for future growth and a potential NASDAQ up-listing.

Can B Corp. (OTCQB:CANB) announced its new hemp processing agreement targeting the production of over 13,000 liters of Delta-8 and other isomers, with a market value exceeding $10 million. The company will utilize recently acquired facilities in Colorado to process harvested hemp biomass into winterized crude and subsequently into isolate. This acquisition aims to enhance cash flow and increase production capacity, with an estimated annual throughput of 2 million pounds of biomass. CEO Marco Alfonsi emphasized the milestone's significance for Can B's business growth.

Can B Corp. (OTCQB: CANB) has secured a lease for a 300,000 square foot facility in McMinnville, Tennessee, to enhance operations following the acquisition of assets from Music City Botanicals. This facility, strategically located between Nashville and Chattanooga, offers significant infrastructure advantages, including an isomer lab and extraction facilities. The lease provides an option for outright purchase and is expected to accelerate Can B's production capabilities in the hemp-derived cannabinoid sector.

Can B Corp. (CANB) has announced its acquisition of assets from Music City Botanicals LLC, enhancing its capabilities in hemp-derived cannabinoids. The transaction, valued at over a million dollars, includes equipment, inventory, and intellectual property, and positions CANB for greater production in the isomer market. With the formation of its new subsidiary, TN Botanicals, the company aims to establish a vertical supply chain and produce pharmaceutical-grade CBD products. The deal also integrates experienced staff and a larger facility to support increased production capacity.

Can B Corp. (OTCQB:CANB) has announced the acquisition of assets from Music City Botanicals LLC valued at over a million dollars. This deal enhances Can B's operations in the cannabinoid market, particularly in isomer production. The acquisition includes equipment, inventory, and intellectual property, and will be utilized in their newly formed subsidiary, TN Botanicals, LLC. The company aims to strengthen its supply chain and diversify its product offerings, including pharmaceutical-grade CBD products, while leveraging MCB's experienced team in their growth strategy.

Can B Corp. (OTCQB:CANB) reported significant financial results for Q2 2021, achieving a 96% increase in revenue to $0.4 million compared to Q2 2020. Despite this growth, the company faced an adjusted EBITDA loss of $2.1 million for the first half of 2021. Operating expenses also surged by 115% to $2.7 million. Gross profit decreased 9% to $0.1 million, leading to a gross margin decline from 76.6% to 35.6%.

Management noted positive impacts from resuming elective surgeries and ongoing strategic initiatives.