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CBD of Denver Announces Q2 Revenue and Provides Update on German Market

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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.

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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.

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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

Follow Us: Twitter | Instagram

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/218811



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Denver, CO

Broncos moved to prime-time in NFL's first-ever 'Thursday Night Football' flex

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Broncos moved to prime-time in NFL's first-ever 'Thursday Night Football' flex


For the first time in NFL history, a Sunday afternoon game has been flexed to Thursday Night Football.

The Denver Broncos‘ road game against the Los Angeles Chargers in Week 16 has been flexed from Sunday, Dec. 22 to Thursday, Dec. 19, the NFL announced Friday. The original TNF matchup was set to see the Cincinnati Bengals host the Cleveland Browns. That game was moved to an afternoon slot on Dec. 22.

The Broncos previously played on TNF in Week 7 when they went on the road and defeated the New Orleans Saints 33-10. Denver is also scheduled to play on Monday Night Football against the Cleveland Browns in Week 13.

NFL rules prevent a team from being given two TNF away games when the initial schedule is released in the spring, but in-season flexes are allowed. So after playing in New Orleans on a short week earlier this season, the Broncos will play in Los Angeles on a short week later this year.

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It is perhaps less-than-ideal for Denver from a competitive perspective, but it’s a sign that the league views the Broncos as an entertaining team worthy of a national spotlight. That’s quite a change from recent seasons.

Thursday Night Football is available to stream on Prime Video.



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Former case manager details safety, other concerns with Denver homeless shelter as city auditor releases new report

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Former case manager details safety, other concerns with Denver homeless shelter as city auditor releases new report


Fear has reached its tipping point for a former case manager at one of Denver’s homeless shelters.

“I’ve never experienced anything like this,” she said. “And I’ve worked in low-income facilities.”

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The former case manager shared her experience anonymously with CBS Colorado days after issuing her resignation letter on Nov. 11. She was working for nearly a year at the Tamarac Family Shelter (formerly an Embassy Suites) at 7525 E Hampden Avenue, which is a city shelter run by the Salvation Army.

Her letter of resignation details a lot of the issues and concerns she experienced throughout her time working there.

“When we first got there, the housekeeping was there, and we had housekeeping because of the contract with Embassy Suites wasn’t over,” she said.

However, she says management eventually let housekeeping go, and the facility started to get worse.

“The condition of the building, its falling apart. We have leaks in the ceiling. We have bed bugs in the room. We have roaches,” she said. “The bathrooms are disgusting.”

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The former employee shared a collection of photos she says were taken at the shelter. Photos showed dead rats outside the property, trash throughout the shelter and damaged ceilings.

“Just because they came from being homeless, doesn’t mean they need to be treated that way,” she said.

What was even more concerning to her and the clients she worked with was how much they feared for their safety within the facility.

“We’ve been experiencing a lot of domestic violence and there’s a lot of people that threaten us and say, ‘Well, we’re going to do things to your car,’” she said. “We had an individual that her husband kept her in a room and was beating her up and she had from head-to-toe bruises.”

She says despite having some security guards outside the facility, abuses or unauthorized people would still slip through the cracks.

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“When the clients will say, I would rather be in the streets than be in here because it’s safer out there than it is in here,” the employee said.  

This case manager says she has also spoken up about getting more security added to the facility, including a security door. However, she says the facility’s management team did not address these concerns.

“It’s not in the funding; we can’t do it. We don’t have enough money to do security doors,” she said.

Last week, when CBS Colorado first asked the Salvation Army about these concerns, it issued this statement, “One of the things that’s good about having a working relationship with the City of Denver is that they have high expectations for the safety and cleanliness of our programs. The Salvation Army could not operate the Tamarac location if these allegations were true. The safety of our guests is our highest concern. That’s why we’re here – housing families with children, providing three meals a day and connecting our guests with the services that will strengthen their abilities to thrive on their own. Furthermore, HOST or City of Denver employees are on site most days of the workweek every week. The bottom line is the city would shut us down if we didn’t hold to their high standards of safety.”  

This week, however, a spokesperson for the Salvation Army says it’s enlisted independent legal counsel to investigate these concerns. “While the investigation is underway, we will be unable to comment.”

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A spokesperson for the city’s Department of Housing Stability released a statement saying the former employee’s claims are largely untrue,” “Department of Housing Stability staff are regularly on-site at the Tamarac Family Shelter, working alongside staff members from The Salvation Army to ensure a safe, welcoming and stabilizing environment for families in crisis.”

These allegations come just as the city auditor released its findings of Denver’s homeless shelter program. The report reveals homeless funding is not being tracked, and safety concerns are not being addressed among other issues. The safety concerns are particularly connected to another shelter run by the Salvation Army on Quebec Street, the Aspen Shelter (formerly a Doubletree Hotel).

“The [homeless] should have a safe haven like they say it is. They should be able to stay there and not worry about their abuses coming in,” the former case manager said.

The report finds that Housing Stability has “ineffective systems for monitoring shelter provider performance,” and that in the case of the former Doubletree location, the city provided a security budget of $807,000 but had not hired a contractor to manage security at the property for several months. It is also the location where two people were shot and killed in March 2024, and a third person was shot and injured weeks later.

The audit also found concerns with Housing Stability’s managing of finances for shelter properties and personal information, “Housing Stability failed to hold providers accountable for their use of city funds. The department received 55% of reviewed invoices past deadline. We found sensitive confidential data was left unprotected in a shared drive that staff in other city agencies could access. Housing Stability stored documents such as birth certificate orders containing contact information and family information of shelter guests. Not protecting confidential information by restricting drive access creates a data security risk.”

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“Housing Stability’s poor organization is negatively affecting operations at Denver’s shelters,” said Timothy M. O’Brien, Denver’s auditor. “These issues need to be addressed because vulnerable populations are at risk.”

A spokesperson for the city says the auditor’s report is not an accurate representation of the current state of the city’s shelter system, “Denver’s All in Mile High program has transformed the city’s homelessness resolution system, resulting in the largest decrease in street homelessness on record and positive outcomes both for those experiencing homelessness and the city as a whole. The Auditor’s report on Denver’s shelter system references data and information from more than eight months ago, and is not an accurate representation of the current state of our shelter system. We continue to constantly improve our programs, which is why although we acknowledge the auditor’s findings, it’s important to note that HOST and the City have long been working to improve the system throughout 2024.”

As for the former case manager, she hopes any new information and investigation into concerns at the shelter she worked at and others can help make these facilities better for anyone who works or lives inside them.

“More security for our residents,” she said. “That its clean, and that it’s not falling apart.”

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Denver Nuggets Player Suffers Major Injury

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Denver Nuggets Player Suffers Major Injury


After waiting 10 games due to injury, Vlatko Cancar finally made his return to the Denver Nuggets on November 15. Unfortunately for the 27-year-old, he only played a grand total of three games before suffering an injury again.

To make matters worse, it sounds like Cancar’s knee injury was a serious one. According to Nuggets head coach Michael Malone, Cancar will be out for the foreseeable future.

“Not necessarily (season-ending). It could go a couple different ways. We’re still gathering information, letting the knee calm down a little bit,” Malone said. “So I don’t want to get doom and gloom. But he’s out for the foreseeable future”

Two seasons ago, Cancar played 60 games for the Nuggets and averaged 5.0 points, 2.1 rebounds, and 1.3 assists on 48/37/93 shooting from the field. He didn’t play a single game last season due to injury and has only played four games this season due to injury. It’s’ been an incredibly rough two seasons for Cancar with how many major injuries he’s sustained.

“I’m not gonna go into all the details, but some different options will be on the table for Vlatko, and we’ll try to educate him,” Malone said.

The Denver Nuggets are still missing Nikola Jokic due to personal reasons, and Aaron Gordon due to a right calf strain. The team has been shorthanded, but still has a record of 8-5.

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