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 (KDVR) — The last few days of May will be warm and mostly dry, but the Denver weather forecast does show a steady warming trend through the first week of June.
Highs on Saturday will be seasonal and mostly dry with a stray storm possible. Colorado will return to the low 80s on Sunday and will likely be dry across most of the state.
Denver weather tonight: Partly cloudy and mild
Skies will be partly cloudy overnight Friday. Any lingering showers will dissipate by midnight. Temperatures will remain slightly above normal with lows around Denver in the lower to middle 50s. Winds will be light from the south and southwest.
Denver weather Saturday: Seasonal and mostly sunny
Denver will see seasonally warm highs Saturday afternoon in the upper 70s, though the urban core may crack the lower 80s. An isolated storm or two may fire up in the afternoon north of Interstate 76 and the high country, but most of Colorado will remain dry.
Looking ahead: Warming to start June
Monday is the first day of June. Temperatures will be in the low 80s with a better chance for afternoon showers and storms. Winds will also be a bit breezy. The metro area will continue to warm Tuesday and Wednesday into the mid-80s. Both days have a chance for storms, but Tuesday will have a better setup for storms.
Denver will be drier the second half of the workweek as temperatures climb into the mid-80s. Next weekend may see highs back in the upper 80s. That’s not record-breaking, but quite warm for early June by about 10 degrees.
Von Miller has made it abundantly clear that he would like to return to the Denver Broncos and finish his career where it started. Miller has made that fact known at every possible opportunity, including a Von’s Vision charity event on Wednesday.
“I would love to bring back those Super Bowl 50 vibes, love to assist, to be the vice president to Bo Nix, to Courtland Sutton,” Miller said. “I’ve been the guy and also I’ve been the vice president as well. I would love to contribute to us getting back to the glory land, to holding up that trophy.”
Miller went on to note that he has lobbied coach Sean Payton to sign him (Payton coached Miller at a flag football tournament earlier this year).
Unfortunately for Miller, it sounds like there are no plans for a potential reunion with his old club. The Denver Post‘s Luca Evans reported that “as of last week,” there have been no talks between the Broncos and Miller’s representatives about a potential contract.
With a crowded outside linebacker room, Denver seems unlikely to re-sign Miller, but the 37-year-old pass rusher said he will “for sure” play in 2026. After totaling nine sacks with the Washington Commanders last fall, Miller will probably be able to find a home as a rotational pass rusher, but it might not be with the Broncos.
Social: Follow Broncos Wire on Facebook and Twitter/X! Did you know: These 25 celebrities are Broncos fans.
Denver, CO
Denver Summit FC delays opening of Centennial Stadium, will play next 2 home games at Dick’s Sporting Goods Park
Denver Summit FC will play their next two home games at Dick’s Sporting Goods Park.
Colorado’s first professional women’s soccer team was hoping to be at their new training facility in Centennial by July, but team says recent rain delayed construction, so they need to push back by two weeks.
That means their July 3 and July 12 matches will be at Dick’s Sporting Goods Park in Commerce City.
Summit FC is hopeful to be at their stadium in Centennial for their July 18 game against the Portland Thorns.
Centennial Stadium will ultimately become Summit’s training facility. They’ll play their games there until 2028, when they hope to move into their official home stadium at the Santa Fe Yards at Broadway and I-25. The Santa Fe Yards stadium will have room for more than 14,000 fans.
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