CBD of Denver CEO Provides Letter to Shareholders Updating Latest Corporate Developments
Denver, Colorado--(Newsfile Corp. - May 19, 2021) - CBD of Denver, Inc. (OTC Pink: CBDD) CEO, Marcel Gamma today drafted the following letter to shareholders, providing an update on the latest corporate developments and answering some questions the Company receives on a regular basis.
It is with great pride that I present to you this update on our corporate activities and give you some outlook on the near future.
Our Swiss auditors have completed their review of our financial statements and have provided them along with supporting information to our external independent auditor which has sent his final report to the Company without any complaints. The US auditor is working to complete the US audit that we expect to be completed by the end of May. Our US auditor is working diligently to complete this process so the Company can file our audited year-end statement and then file a Form 10 making CBDD an SEC reporting issuer and supporting our application to up list to a higher OTC Markets tier.
CBDD has hired a professional web agency to upgrade our online presence. Regarding our new extended product portfolio, we are under negotiation for a solution which should offer great value for the Company and its shareholders. As soon as this has been completed, we will provide proper guidance to all our valued shareholders.
It has been our strategy to use our common shares to make acquisitions. We did this for our first two transactions with great success. We will continue to use equity to buy undervalued companies that are accretive for our Company and its shareholders just like we have done in the past.
Some shareholders have asked what we can do about "market makers" or the share price. We have no control over market makers or other participants in the stock market. We hope that by up listing we will encounter a better market environment with more transparency where our stock will trade at a valuation befitting our success.
Other shareholders have asked about dilution. We have no toxic debt or convertible debt on the Company's financial statements. Prior to current management coming in, the Company was debt ridden and poorly managed. As you can see in our financial statements, past debt has been eliminated. The Company is cash flow positive. All shares for the past acquisitions are restricted shares and will be subject to restrictions on sales pursuant to leak out agreements. All shares from the first two acquisitions are in book entry and remain subject to the terms of the acquisition agreements. We encourage all shareholders and potential investors to do their own due diligence and review the Company's financial statements and capital structure.
In summary, the Company's management team will continue to do what they are doing: buying undervalued companies to increase long term shareholder value by continuing to build profitable revenue. The Company cannot control market makers or propaganda being disseminated through online forums. Please read our filings and financial statements to determine the truth of our financial condition for yourself.
We do appreciate our shareholders and our Company goals are to grow our business through acquisitions and organic growth. We value all our shareholders and if you have any concerns or questions, please do not hesitate to contact us at the following addresses:
President & CEO, CBD of Denver Inc.
About CBD of Denver, Inc.
CBD of Denver, Inc. (OTC Pink: CBDD) a full-line CBD and Hemp oil company ("CBDD") and a producer and distributor of Cannabis and CBD products in Switzerland, Europe and the US. CBDD is focused on using equity to acquire profitable Swiss assets at attractive valuations to create value for all our shareholders driven by a passion to improve lives and strengthen communities by unleashing the full potential of cannabis.
Through our brand Rockflowr and BlackPearlCBD we reach our consumers and have built up a strong customer base by focusing on top quality products and meaningful customer relationships.
Black Pearl CBD has 0% THC but is not an Isolate where the THC is stripped from the product rendering it ineffective. We use a proprietary technique adding terpenes as the activation ingredient, resulting in a product that is the finest in the industry and only available at www.cbdofdenver.com.
Information contained herein includes forward-looking statements. These statements relate to future events or future financial performance, involving known and unknown risks and you should not place undue reliance on these statements. Any forward-looking statement reflects our current views with respect to future events. We assume no obligation publicly about update or revise these forward-looking statements for any reason.
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