Denver, CO
CBD of Denver Announces Q2 Revenue and Provides Update on German Market
Denver, Colorado–(Newsfile Corp. – August 5, 2024) – CBD of Denver, Inc. (OTC Pink: CBDD) today announced that revenue for Q2 2024 is estimated to be approximately $1,030,000 compared to $720,000 for Q2 2023. Revenue from Libra 9 is not included, as the Company continues the process of unwinding the transaction.
The German market is evolving as all federal states are progressing with their individual application and licensing programs for Cannabis Clubs. Luxora is in ongoing discussions to explore opportunities for its grow infrastructure solutions but has not yet received official confirmation from any federal state to approve its business model. Lower Saxony is the first and only state in Germany to have decided on applications for the approval of cannabis cultivation clubs, with seven applications approved and five rejected. A total of 20 applications have been submitted, making it the third highest in the country after North Rhine-Westphalia with 37 and Baden-Württemberg with 35. The pace of applications illustrates the high hurdles that clubs must overcome based on the individual federal states’ application frameworks and the recent amendments to the cannabis law, which make it much more difficult to start a club. The company continues to explore the opportunity in the German market and is actively engaged with the responsible authorities to achieve legislative clarity.
Following a thorough assessment of its wholesale business unit, the company found that it was not meeting its anticipated profit margins. However, the company continues to operate in the wholesale business and is still experiencing growth. The Company continues to review new opportunities with the goal of identifying businesses with higher margins to build recurring revenue.
In a significant development, Luxora has received positive engagement in Berlin regarding a Near-Infrared (NIR) device used for cannabis testing. The company is following up on leads from over 50 interested parties in Germany. In the coming weeks, Luxora will be making sales presentations to these potential clients. If proven sustainable, this initiative has the potential to provide higher-margin sales based on a markup on the device as well as recurring revenues based on the SaaS (Software as a Service) model, which is sold alongside the hardware device. The company is testing the viability of the business model before deciding on a specific direction.
Luxora remains committed to exploring a wide array of opportunities within the cannabis sector, including advancements in technology, medical applications, and other innovative areas with strong growth potential. The company’s proactive approach aims to leverage its expertise and market presence to drive growth and value for its shareholders.
About CBD of Denver, Inc.
CBD of Denver, Inc. is focused on acquiring profitable assets at attractive valuations to create value for shareholders. The company’s team is dedicated to sourcing high-margin, innovative products that align with its values.
About LUXORA Inc.
LUXORA Inc. is a trailblazing entity in the European cannabis industry, with offices spanning the USA and Europe. Our core expertise revolves around unlocking the potential of the legalized cannabis market, offering infrastructure solutions and consulting tailored to the dynamic needs of this rapidly expanding sector. With a profound understanding of the opportunities and challenges brought forth by legalization, our experienced team is dedicated to pioneering the future of the legal cannabis market in Europe. Our offerings range from consulting and market research to product development and distribution solutions, aimed at simplifying the path to legalization for our esteemed clients.
For inquiries, please contact Investor Relations: investors@luxora-holding.com
For more information, please visit: www.luxora-holding.com
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/218811
Denver, CO
Denver bans federal law enforcement officers from covering their faces, DHS says it won’t comply
Denver city leaders unanimously passed a ban on all officers, including Immigration and Customs Enforcement agents, from wearing face coverings while detaining or arresting people. That law also requires officers to wear visible identification.
It’s the second sweeping ordinance against federal officers in Denver in just a few days. Last Thursday, Mayor Mike Johnston signed an executive order banning federal immigration agents from operating on city property without a judicial warrant.
It also directs Denver police, deputies and fire personnel to investigate reports of violence and criminal behavior.
The Department of Homeland Security responded calling the executive order “legally illiterate,” adding, “no local official has the authority to bar ICE from carrying out federal law on public property … and while Mayor Johnston continues to release pedophiles, rapists, gang members, and murderers onto their streets, our brave law enforcement will continue to risk their lives to arrest these heinous criminals.”
DHS didn’t mince words when responding to Denver’s new face coverings ban either, saying in part, “To be crystal clear: we will not abide by a city council’s unconstitutional ban. Our officers wear masks to protect themselves from being doxxed and targeted by known and suspected terrorist sympathizers. Not only is ICE law enforcement facing a more than 1,300 percent increase in assaults against them, but we’ve also seen thugs launch websites to reveal officers’ identity.”
On the other hand, the Denver City Council didn’t mince words when it approved the ban.
“It’s very disturbing to me, as an American, to see masked agents on the street,” said Councilman Kevin Flynn who represents District 2. “I don’t know what the best way is to enforce our immigration laws, but I think I know the worst way when I see it.”
“I said all along, this was a slam dunk,” added Councilman Darrell Watson of District 9.
Last month, a federal judge struck down a California law prohibiting federal agents from wearing masks. But, the city council says it made sure its ordinance is enforceable.
You have to treat all law enforcement the same,” said City Council President Amanda Sandoval. “So, our sheriffs can’t have masks. Our State Patrol can’t have masks. And federally you can’t have masks. And we delineate that within the ordinance which, that’s where California got the issue.”
Sandoval said she was monitoring the legal process and comparing the two ordinances to ensure they would be good to go.
Although the city council believes the ordinance is constitutional, the Denver Police Department says it’s still working to determine what implementation could look like, and provided this statement to CBS Colorado:
“Our Safety departments are working with the City Attorney and bill sponsors to determine what implementation could look like. Of utmost importance is discretion and prioritizing de-escalation when encountering these situations. Our goal is to apply this ordinance in a way that builds trust and transparency without putting officers, deputies, or the public at risk.”
Coupled with the city’s new executive order, Sandoval believes Denver now has the necessary guidelines in place.
“A map for residents to understand predictability, and that’s what I always want, is what can the residents be able to rely on.”
There are exemptions in place for the ban, for example: during an active undercover operation, when gear is required for physical safety, and for personnel performing SWAT duties.
Denver, CO
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Denver, CO
Denver rally shows divided feelings over U.S.-Israel action against Iran
DENVER — More than 24 hours after the United States and Israel attacked Iran, Coloradans are continuing to express their feelings about what the attack means not only for the world, but here in our state.
For the second straight day, Coloradans expressed their opinions on the steps of the state Capitol about the attack by the US and Israel on Iran.
But instead of anger, as was the case on Saturday, the tone on Sunday was more cheerful.
“Today it’s a celebration about like getting our freedom back, and we would love to have people to be happy with us,” said Forzun Yalme, who helped organize the event with Free Iran Colorado.
For some Iranian-Americans, the news of the attack brings a new sense of hope that freedom is near.
“For me to be Iranian-American, in 47 years here, I learned about democracy and human rights and what I like,” detailed Amir Tosh, another member of Free Iran Colorado. “I want to transfer what your values are for democracy, human rights, freedom to my country, my motherland.”
Denver rally shows divided feelings over U.S.-Israel action against Iran
“My uncle and grandma, grandparents, they were all so happy about what happened, because we can, like, now feel the freedom,” explained Yalme.
But some Iranian-Americans are more cautious.
Colorado’s only Iranian-American state representative, Yara Zokaie, doubts the operation will have a significant impact to Iran’s leadership.
“I’m sympathetic to people who want regime change by any means necessary, but I think we also need to stop and realize what this actually means,” said Zokaie. “Regime change is not something that can happen in one airstrike.”
Zokaie admits she herself was elated to hear Iran’s supreme leader and other top officials were killed in the attack.
But she hopes Coloradans remember the innocent people who have already been killed and those who are more likely to come.
“I ask that we remember the humanity of people in the Middle East as this news unfolds. I ask that we call for a peaceful resolution that we empower Iranian people who will bring change from within, and that we call for no war with Iran,” said Zokaie.
Several people at today’s event at the Capitol approached our Denver7 team. They shared their gratitude for President Donald Trump, the US military, and the Israelis for their action in helping bring freedom to Iran.
They hope others will see that as well. They plan on being here for the next hour and a half or so.
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