cbdMD rapporteert vierde kwartaal netto-omzet van $ 9,54 miljoen


Translating…


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CHARLOTTE, N.C.–()–cbdMD, Inc. (NYSE American: YCBD, YCBD PR A) (the “Company”), a leading cannabidiol (CBD) consumer brand, reported today that in its fourth fiscal quarter ended September 30, 2019, the Company generated net sales (unaudited) of $9.54 million and its audited net sales for the fiscal year ended September 30, 2019 were $23.7 million.

In fiscal 2019, the Company discontinued certain legacy operations not related to its CBD business, effective September 30, 2019, which reduced net sales for fiscal 2019 from approximately $24.6 million or by $888,000. On an unaudited pro forma basis, assuming the Company had closed the acquisition of the its CBD business on October 1, 2018 instead of December 20, 2018, the Company’s net sales for the fiscal year ended September 30, 2019 were $26.8 million.

The Company’s gross profit margin as a percent of net sales was 61.4% for fiscal 2019 and 56.7% for the fourth quarter fiscal 2019. The Company’s unaudited fourth quarter gross profit margin as a percent of net sales was impacted due to relabeling and packaging changes and increased wholesale sales. On a preliminary unaudited basis, in the first quarter of fiscal 2020 the Company’s gross profit margin as a percent of net sales is consistent with 2019 average and we expect to maintain this margin throughout fiscal 2020.

The Company reported unaudited net income for the fourth quarter fiscal 2019 of approximately $7.6 million. Net income was impacted by the following non-cash items: the gain on the contingent liability of $20,000,000, a tax benefit of $63,000, a loss of marketable securities in the amount of $527,000, a stock compensation expense of $574,000 and a one-time charge for discontinued operations of $5,927,773.

Net income for the fiscal year ended September 30, 3019 was a loss of $50.4 million or $2.82 cents per share. Net income was impacted by the following non-cash items: a stock compensation expense of approximately $2,685,000 depreciation and amortization of $178,000, and expense for the issuance for stock/warrants for services of $290,000, an impairment on intangible assets of $436,000, the loss on marketable securities of $103,000 an impairment of investment other securities $502,000, the decrease on contingent liability of $32,461,680, a provision for income taxes of $2,359,000, a one-time loss from discontinued operations of $5,927,773 and net loss attributable to non-controlling interest of $929,000.

“We are extremely proud of that fact that cbdMD is reporting another quarter of record revenue and we believe that this trend will continue. In just one year, we have built two of the leading CBD brands in America, cbdMD and Paw CBD. We have built an infrastructure that is more advanced than most of our competitors in the US CBD industry, with over 130 total SKU’s, 170 employees, 11 departments, full scale manufacturing, distribution and warehousing facilities. Building this infrastructure now has been an important part of our plan, since we envision significant growth over the next several years,” said Martin Sumichrast, Chairman & co-CEO of the Company.

“We continue to experience rapid growth and our sales metrics continue to remain very strong as we continue to drive online sales through the use of gorilla marketing, social media, athletic sponsorships, and influencer affiliate programs. As of November 2019, we had over 200,000 active e-commerce subscribers, our average repeat online order exceeded $130 per order and our online customer re-order rate increased throughout the year. These are very strong metrics. On the brick and mortar side of our business, we are also experiencing tremendous success in growing the amount of retail stores who currently carry our brands. Our retail reach is now over 4,000 retail doors and climbing. We have started to add national retailers as well as travel retailers. Our wholesalers have experienced demand for our products in several international markets and they are now reselling our products in 10 international markets including the United Kingdom, Costa Rica, Bermuda, Guam, Peru, South Africa, Ireland, Guatemala, Belize, and Mexico,” continued Mr. Sumichrast.

“The sponsorship and influencer partnerships we have built are first-in-class in the CBD industry and include The BIG3, Life Time Fitness, The World Surf League, Supercross, Nitro Circus, ARX (Rallycross) and Bellator (MMA). Our social media reach is enhanced by our podcast relationships that include some of the biggest names in podcast, including Barstool Sports. Our Team cbdMD Athletes, including PGA Golfer Bubba Watson, Olympians Kerri Walsh Jennings, and Lolo Jones, MMA Champions Jorge Masvidal and Daniel Cormier, Rally Cross superstars like Ken Block and professional skateboarder Ryan Sheckler to name a few, continue to be tremendous ambassadors for our brand. Now that we have assembled all of these assets, we will be activating significant campaigns in fiscal 2020 with all our partners and ambassadors. We believe this will help accelerate the brand building momentum we have built in fiscal 2019, convert more customers to cbdMD and Paw CBD, which will result in more market share and ultimately additional growth of our brands,” added Mr. Sumichrast.

“Our brands have also received leading brand recognition in the CBD industry. In July, 2019, the Brightfield Group, one of the leading predictive analytics and market research firms for the legal CBD industry, named cbdMD not only a Top 10 domestic brand in two booming categories, Topicals and Skincare/Beauty, but also named cbdMD the “Brand To Watch,” in part saying, ‘Trend followers should look to emulate cbdMD’s efforts, using creativity and strategy to move forward.’ And in November, in a newly released survey conducted by Brightfield of more than 3,500 CBD users, cbdMD ranked the highest in terms of overall consumer satisfaction as well as the highest in unaided consumer awareness of any of the top 20 CBD brands. In addition, according to media intelligence and monitoring company Meltwater, cbdMD had the highest ‘share of voice’ throughout the entire CBD Industry for the three months ended September 30, 2019,” added Mr. Sumichrast.

“Our flagship pet line, Paw CBD, is also growing strong. Paw CBD’s product offering consists of a comprehensive line of CBD pet products for dogs, cats and horses that includes 34 unique SKU’s. The brand is currently sold via independent pet store channels and online at www.cbdMD.com, with the goal of big box retail deployment in fiscal 2020. And despite only being a few months to market, Paw CBD has already received top honors, as Pet Business Magazine named Paw CBD’s Calming Turkey CBD Soft Chews the top CBD product for pets in their dog calming aids category. Our goal is for Paw CBD to be in over 1,000 retail stores, grooming salons and veterinary clinics by the end of calendar 2020,” added Mr. Sumichrast.

“We are spending a significant amount of our budget on R&D and testing to ensure the safety and quality of our products. We have established a secure supply chain with dedicated, 2018 Farm Bill compliant hemp farms and extraction facilities to ensure the highest quality and integrity of the raw materials we use. Every batch of finished goods are tested with a full panel by an ISO certified testing laboratory to ensure the quality and purity, as well as to ensure we meet our label claims for potency. All of our products are manufactured pursuant to GMP standards, and we are scheduled for a GMP third-party certification on an upgraded manufacturing facility before the end of the year. We intend to conduct third party GMP audits multiple times per year to ensure our continued compliance and to seek NSF GMP and Product certifications in 2020. Safety testing is conducted on our formulations, and we are currently exploring options with regards to both GRAS and NDI applications with the FDA. In fiscal 2020 we will be conducting further safety testing on new formulations and also plan to initiate clinical trials in anticipation of submitting claims substantiation to the FDA. We are also in the process of obtaining our NASC certification, which many larger retailers in the pet industry require for product placement,” continued Mr. Sumichrast.

“We believe expanding our market share, growing our revenue base and attaining top brand recognition are the most important elements as we head into fiscal 2020. While we have invested significantly to achieve high growth we are focused on attaining positive cash flow from operations, which we believe we can now achieve by October 2020. We still anticipate a 250% increase in sales from fiscal 2019 to fiscal 2020, but as we begin to focus on cash flow, we are adjusting our net sales guidance to between $62 million and $70 million for fiscal year ending September 30, 2020. This new revenue guidance is based on a trajectory of approximately 55% e-commerce sales and 45% retail brick and mortar sales. This guidance does not include the addition of any potential significant mass retail relationships, many of which we are in the process of developing,” concluded Mr. Sumichrast.

CONFERENCE CALL DETAILS

Wednesday, December 18, 2019, 4:15 p.m. Eastern Time

Domestic:

1-844-602-0380

International:

1-862-298-0970

Replay dial in – Available through January 18, 2020

Domestic:

1-877-481-4010

International:

1-919-882-2331

Replay ID:

56986

Webcast Replay link – available through March 18, 2020:
https://www.investornetwork.com/event/presentation/56986

About cbdMD, Inc.

cbdMD, Inc. (NYSE American: YCBD and NYSE American: YCBD PR A) owns and operates the nationally recognized consumer cannabidiol (CBD) brand cbdMD, whose current products include CBD gummies, CBD tinctures, CBD topical, CBD bath bombs, CBD oils and CBD pet products. cbdMD, Inc. is a nationally recognized consumer cannabidiol (CBD) brand whose current products include CBD tinctures, CBD gummies, CBD topicals, CBD bath bombs, and CBD pet products. cbdMD is also the proud partner with the Big 3 Basketball League, Barstool Sports, Bellator MMA, (a subsidiary of Viacom: NASDAQ:VIA), LifeTime and Nitro Circus. To learn more about cbdMD, Inc. and our comprehensive line of over 100 SKU’s of U.S. produced, THC-free CBD products, please visit: www.cbdmd.com or follow cbdMD on Instagram and Facebook or visit one of the 3,000 retail outlets that carry cbdMD products.

Forward-Looking Statements

This press release contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements can be identified by the use of words such as ”should,” ”may,” ”intends,” ”anticipates,” ”believes,” ”estimates,” ”projects,” ”forecasts,” ”expects,” ”plans,” and ”proposes.” These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including, without limitation, statements made with respect to the expansion of the consumer market for CBD products and our ability to increase our market share, our limited operating history, our ability to expand our business and significantly increase our revenues, our ability to effectively leverage our brand partnerships and sponsorships, our ability to effectively compete in our market, our ability to achieve our net sales guidance, and our ability to report profitable operations in the future. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” in cbdMD, Inc.’s Annual Report on Form 10-K for the fiscal year ended September 30, 2019 as filed with the Securities and Exchange Commission (the “SEC”) on December 18, 2019 and our other filings with the SEC. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, many of which are generally outside the control of cbdMD, Inc. and are difficult to predict. cbdMD, Inc. does not undertake any duty to update any forward-looking statements except as may be required by law. The information which appears on our websites and our social media platforms, including, but not limited to, Instagram and Facebook, is not part of this press release.

CBDMD, INC.

CONSOLIDATED BALANCE SHEETS

SEPTEMBER 30, 2019 AND 2018

 

2019

2018

Assets

 

Current assets:

Cash and cash equivalents

$

4,689,966

$

4,282,553

Accounts receivable

1,425,697

307,874

Accounts receivable – related party

1,537,863

Accounts receivable other

160,137

1,743,874

Accounts receivable – discontinued operations

1,080,000

Marketable securities

198,538

1,050,961

Investment other securities

600,000

1,159,112

Note receivable

459,000

Note receivable – related party

156,147

Deposits

6,850

Merchant reserve

519,569

Inventory

4,301,586

123,223

Inventory prepaid

903,458

Deferred issuance costs

93,954

28,049

Prepaid consulting agreement

200,000

Prepaid rent

180,000

Prepaid software

206,587

Prepaid equipment deposits

868,589

Prepaid expenses and other current assets

688,104

561,491

Total current assets

15,743,035

11,790,147

Other assets:

Property and equipment, net

1,715,557

53,480

Deposits for facilities

754,533

Intangible assets, net

21,635,000

3,173,985

Goodwill

54,669,997

Total other assets

78,775,087

3,227,465

Total assets

$

94,518,122

$

15,017,612

owspan = “1”> Td>

CBDMD, INC.

CONSOLIDATED BALANCE SHEETS

SEPTEMBER 30, 2019 AND 2018

(continued)

2019

2018

Liabilities and shareholders’ equity

 

Current liabilities:

Accounts payable

$

3,021,271

$

473,717

Accounts payable – related party

7,860

Deferred revenue

Td> Td>

– P> Td>

Td> Td> Td>

161.458 P> Td>

Td>

Overlopende rekeningen P> Td>

Td> Td> Td>

681.269 P> Td>

Td> Td> Td>

6920 P> Td>

Td>

Overlopende kosten – verbonden partij P> Td>

Td> Td> Td>

– P> Td>

Td> Td> Td>

320.000 P> Td>

Td>

Klant deposito – verbonden partij P> Td>

Td> Td> Td>

7339 P> Td>

Td> Td> Td>

– P> Td>

Td>

Totaal kortlopende verplichtingen P> Td>

Td>

3.709.878 b> P> Td>

Td> Td>

969.955 b> P> Td>

Td>

Langlopende schulden P> Td>

Td> Td> Td> Td> Td>

Langlopende schulden P> Td>

Td> Td> Td>

363.960 P> Td>

Td> Td> Td>

7502 P> Td>

Td>

Voorwaardelijke verplichting P> Td>

Td> Td> Td>

50.600.000 P> Td>

Td> Td> Td>

– P> Td>

Td>

Uitgestelde belastingverplichting P> Td>

Td> Td> Td>

2.240.300 P> Td>

Td> Td> Td>

21.000 P> Td>

Td>

Totaal langlopende schulden P> Td>

Td> Td> Td>

53.204.260 P> Td>

Td> Td> Td>

28.502 P> Td>

Td>
Td> Td> Td> Td> Td> Td>

Totaal passiva P> Td>

Td> Td> Td>

56.914.138 b> P> Td>

Td> Td> Td>

998.457 b> P> Td>

Td>
Td> Td> Td> Td> Td> Td>

cbdMD, Inc. eigen vermogen: P> Td>

Preferente aandelen, geautoriseerde 50.000.000 aandelen, nominale waarde $ 0,001, geen uitgegeven en uitstaande aandelen P> Td>

Td>

– P> Td>

Td> Td>

– P> Td>

Td>

Gewone aandelen, geautoriseerde 150.000.000 aandelen, $ 0,001 nominale waarde, respectievelijk 27.720.356 en 8.123.928 uitgegeven en uitstaande aandelen P> Td>

Td>

27.720 P> Td>

Td> Td>

8124 P> Td>

Td>

Extra in kapitaal betaald P> Td>

Td>

97.186.524 P> Td>

Td> Td>

21.781.095 P> Td>

Td>

Gecumuleerde niet-gerealiseerde resultaten (verlies) P> Td>

Td> Td> Td>

– P> Td>

Td> Td> Td>

(2.512.539 P> Td>

) P> Td>

Gecumuleerd tekort P> Td>

Td>

(59.610.260 P> Td>

) P> Td>

Td>

(6.669.497 P> Td>

) P> Td>

Totaal eigen vermogen cbdMD, Inc. P> Td>

Td>

37.603.984 b> P> Td>

Td> Td>

12.607.183 b> P> Td>

Td>

Minderheidsbelang P> Td>

Td>

– P> Td>

Td> Td>

1.411.972 P> Td>

Td>

Totaal eigen vermogen P> Td>

Td>

37.603.984 b> P> Td>

Td> Td>

14.019.155 b> P> Td>

Td>

Totaal passiva en eigen vermogen P> Td>

$ b> P> Td>

94.518.122 b> P> Td>

Td>

$ b> P> Td>

15.017.612 b> P> Td>

Td> Tr> table> div>

Tr> table> div>

CBDMD, INC. P>

GECONSOLIDEERDE STATUTEN P>

VOOR HET JAAR EINDIGEND OP 30 SEPTEMBER 2019 EN 2018 P> Td>

Td> Td> Td> Td> Td>
Td> Td>

2019 P> Td>

Td>

2018 P> Td>

verkoop P> Td>

$ P> Td>

28.023.848 P> Td>

Td>

$ P> Td>

– P> Td>

Td>

Verkoop gerelateerde partij P> Td>

Td> Td>

55.596 P> Td>

Td> Td> Td>

459.091 P> Td>

Td>

Totale bruto-omzet P> Td>

Td> Td>

28.079.444 P> Td>

Td> Td> Td>

459.091 P> Td>

Td>

vergoedingen P> Td>

Td>

(4.427.893 P> Td>

) P> Td>

Td>

– P> Td>

Td>

Netto-omzet P> Td>

Td>

23.595.955 P> Td>

Td> Td>

– P> Td>

Td>

Netto verkoop gerelateerde partij P> Td>

Td> Td>

55.596 P> Td>

Td> Td> Td>

459.091 P> Td>

Td>

Totale netto-omzet P> Td>

Td> Td>

23.651.551 b> P> Td>

Td> Td> Td>

459.091 b> P> Td>

Td>

Kosten van verkoop P> Td>

Td>

9.136.677 P> Td>

Td> Td>

104.010 P> Td>

Td>

Bruto winst P> Td>

Td>

14.514.873 b> P> Td>

Td> Td>

355.081 b> P> Td>

Td>
Td> Td> Td> Td> Td>

Bedrijfskosten exclusief bijzondere waardeverminderingen P> Td>

Td> Td>

28.875.186 P> Td>

Td> Td> Td>

– P> Td>

Td>

Bijzondere waardeverminderingen van immateriële activa P> Td>

Td> Td>

436.578 P> Td>

Td> Td> Td>

– P> Td>

Td>

Bedrijfskosten P> Td>

Td>

29.311.764 P> Td>

Td> Td>

2.152.149 P> Td>

Td>

Inkomsten (verlies) uit bedrijfsactiviteiten P> Td>

Td>

(14.796.891 b> P> Td>

) b> P> Td>

Td>

(1.797.068 b> P> Td>

) b> P> Td>

Gerealiseerde en niet-gerealiseerde winst (verlies) op verhandelbare effecten P> Td>

Td> Td>

(102.716 P> Td>

) P> Td>

Td> Td>

– P> Td>

Td>

Bijzondere waardeverminderingen op beleggingen in andere effecten P> Td>

Td> Td>

(502.560 P> Td>

) P> Td>

Td> Td>

– P> Td>

Td>

(Toename) afname van voorwaardelijke verplichtingen P> Td>

Td> Td>

(32.461.680 P> Td>

) P> Td>

Td> Td>

– P> Td>

Td>

Rentebaten P> Td>

Td>

75.071 P> Td>

Td> Td>

– P> Td>

Td>

Inkomen (verlies) vóór voorziening voor inkomstenbelastingen P> Td>

Td>

(47.788.776 b> P> Td>

) b> P> Td>

Td>

(1.797.068 b> P> Td>

) b> P> Td>

Voorziening voor inkomstenbelastingen P> Td>

Td>

2.359.000 P> Td>

Td> Td>

– P> Td>

Td>

Netto-inkomen (verlies) uit voortgezette activiteiten P> Td>

Td>

(45.429.776 b> P> Td>

) b> P> Td>

Td>

(1.797.068 b> P> Td>

) b> P> Td>

Nettoresultaat (verlies) uit beëindigde bedrijfsactiviteiten, na belastingen (noot 15) P> Td>

Td>

(5.927.773 P> Td>

) P> Td>

Td>

1.859.902 P> Td>

Td>

Netto-inkomen (verlies) P> Td>

$ b> P> Td>

(51.357.549 b> P> Td>

) b> P> Td>

Td>

62.834 b> P> Td>

Td>

Netto-inkomen (verlies) toe te schrijven aan minderheidsbelangen uit beëindigde bedrijfsactiviteiten (toelichting 15) P> Td>

Td> Td>

(929.323 b> P> Td>

) b> P> Td>

Td> Td>

474.909 b> P> Td>

Td>

Netto-inkomen (verlies) toe te rekenen aan gewone aandeelhouders P> Td>

Td>

$ b> P> Td>

(50.428.226 b> P> Td>

) b> P> Td>

Td>

$ b> P> Td>

(412.075 b> P> Td>

) b> P> Td>

Winst (verlies) per aandeel P> Td>

Td> Td> Td>

Doorlopende activiteiten P> Td>

Td>

$ P> Td>

(2,54 P> Td>

) P> Td>

Td>

$ P> Td>

(0,23 P> Td>

) P> Td>

Opgeschorte operaties P> Td>

Td> Td>

(0,28 P> Td>

) P> Td>

Td> Td>

0.18 P> Td>

Td>

Gewone winst per aandeel P> Td>

Td>

$ P> Td>

(2,82 P> Td>

) P> Td>

Td>

$ P> Td>

(0,05 P> Td>

) P> Td>

Gewogen gemiddeld aantal aandelen P> Td>

Td>

17.887.247 b> P> Td>

Td> Td>

7.742.644 b> P> Td>

Td>

verwaterde P> Td>

Doorlopende activiteiten P> Td>

$ P> Td>

– P> Td>

Td>

$ P> Td>

– P> Td>

Td>

Opgeschorte operaties P> Td>

Td>

– P> Td>

Td> Td>

0.18 P> Td>

Td>

Verwaterde winst per aandeel P> Td>

$ P> Td>

– P> Td>

Td>

$ P> Td>

– P> Td>

Td>

Verwaterd gewogen gemiddeld aantal aandelen P> Td>

17.887.247 P> Td>

7.749.942 P> Td>

CBDMD, INC. P>

GECONSOLIDEERDE STATEN VAN UITGEBREID INKOMEN (VERLIES) P>

VOOR HET JAAR EINDIGEND OP 30 SEPTEMBER 2019 EN 2018 P> Td>

Td> Td> Td> Td> Td> Td>
Td> Td> Td>

2019 P> Td>

Td>

2018 P> Td>

Td> Td> Td> Td> Td> Td>

Netto inkomen (verlies) P> Td>

Td> Td>

$ P> Td>

(51.357.549 P> Td>

) P> Td>

Td>

$ P> Td>

62.834 P> Td>

Td>

Overig totaal inkomen: P> Td>

Td> Td> Td> Td> Td>

Voortgezette activiteiten – Netto niet-gerealiseerde winst (verlies) op verhandelbare effecten, na aftrek van belasting van $ 0 P> Td>

Td> Td> Td>

– P> Td>

Td> Td> Td>

(130.026 P> Td>

) P> Td>

Beëindigde bedrijfsactiviteiten – Netto niet-gerealiseerde winst (verlies) op verhandelbare effecten, na aftrek van belasting van $ 0 P> Td>

Td> Td> Td>

– P> Td>

Td> Td> Td>

(2.382.513 P> Td>

) P> Td>

Uitgebreid inkomen (verlies) P> Td>

Td> Td> Td>

(51.357.549 P> Td>

) P> Td>

Td> Td>

(2.449.705 P> Td>

) P> Td>

Td> Td> Td> Td> Td> Td>

Totaalresultaat (verlies) toe te schrijven aan minderheidsbelang P> Td>

Td> Td> Td>

(929.323 P> Td>

) P> Td>

Td> Td>

474.909 P> Td>

Td>

Comprehensive Income (Loss) toerekenbaar aan gewone aandeelhouders cbdMD, Inc. P> Td>

Td> Td>

$ P> Td>

(50.428.226 P> Td>

) P> Td>

Td>

$ P> Td>

(2.924.614 P> Td>

) P> Td> Tr> table> div>

CBDMD, INC. P>

GECONSOLIDEERDE KASSTROOMOVERZICHTEN P>

VOOR HET JAAR EINDIGEND OP 30 SEPTEMBER 2019 EN 2018 P> Td>

Td> Td> Td> Td> Td>
Td> Td>

2019 P> Td>

Td>

2018 P> Td>

Kasstromen uit operationele activiteiten: P> Td>

netto inkomen (verlies) P> Td>

$ P> Td>

(51.357.549 Td>

) P> Td>

$ P> Td>

62.834 P> Td>

Td>

Aanpassingen om het nettoverlies in overeenstemming te brengen met de netto-kasmiddelen die worden gebruikt door operationele activiteiten: P> Td>

Op aandelen gebaseerde compensatie P> Td>

Td>

2.458.530 P> Td>

Td> Td>

639.631 P> Td>

Td>

Beperkte voorraadkosten P> Td>

Td> Td>

230.000 P> Td>

Td> Td> Td>

39.100 P> Td>

Td>

Afschrijvingen en amortisatie P> Td>

Td>

289.574 P> Td>

Td> Td>

222.546 P> Td>

Td>

Uitgifte van aandelen / warrants voor diensten P> Td>

Td>

289.750 P> Td>

Td> Td> Td>

496.502 P> Td>

Td>

Gerealiseerd en niet-gerealiseerd (winst) / verlies op verhandelbare effecten P> Td>

Td>

2.439.996 P> Td>

Td> Td> Td>

– P> Td>

Td>

Bijzondere waardeverminderingen op beleggingen in andere effecten P> Td>

Td>

502.560 P> Td>

Td> Td> Td>

– P> Td>

Td>

Bijzondere waardevermindering P> Td>

Td>

– P> Td>

Td> Td> Td>

262.343 P> Td>

Td>

Bijzondere waardeverminderingen op beëindigde bedrijfsactiviteiten P> Td>

Td>

3.398.438 P> Td>

Td> Td> Td>

– P> Td>

Td>

Betaling in natura P> Td>

Td>

(30.000 P> Td>

) P> Td>

Td> Td>

– P> Td>

Td>

Verlies bij verkoop van onroerend goed en uitrusting – beëindigde bedrijfsactiviteiten P> Td>

Td>

39.013 P> Td>

Td> Td> Td>

69.311 P> Td>

Td>

Toename / (afname) van voorwaardelijke verplichting P> Td>

Td>

32.461.680 P> Td>

Td> Td> Td>

– P> Td>

Td>

Immateriële waardevermindering P> Td>

Td>

436.578 P> Td>

Td> Td> Td>

240.000 P> Td>

Td>

Niet-contante vergoeding ontvangen voor geleverde diensten P> Td>

Td>

(470.000 P> Td>

) P> Td>

Td> Td>

(3.404.502 P> Td>

) P> Td>

Veranderingen in operationele activa en passiva: P> Td>

Debiteuren P> Td>

Td>

60.155 P> Td>

Td> Td>

(499.373 P> Td>

) P> Td>

Debiteuren gerelateerde partij P> Td>

Td> Td>

(462.137 P> Td>

) P> Td>

Td> Td>

(492.577 P> Td>

) P> Td>

Overige vorderingen P> Td>

Td> Td>

2737 P> Td>

Td> Td> Td>

(1.890.434 P> Td>

) P> Td>

Overige debiteuren gerelateerde partij P> Td>

Td> Td>

– P> Td>

Td> Td> Td>

236.364 P> Td>

Td>

Voorraad P> Td>

Td>

(3.123.437 P> Td>

) P> Td>

Td>

255.894 P> Td>

Td>

Aantekening ontvangbaar P> Td>

Td> Td>

– P> Td>

Td> Td> Td>

(459,000 P> Td>

) P> Td>

Note vordering – verbonden partij P> Td>

Td> Td>

156.147 P> Td>

Td> Td> Td>

120.228 P> Td>

Td>

deposito’s P> Td>

Td> Td>

(761.383 P> Td>

) P> Td>

Td> Td>

– P> Td>

Td>

Handelsreserve P> Td>

Td> Td>

(93.316 P> Td>

) P> Td>

Td> Td>

– P> Td>

Td>

Vooruitbetaalde inventaris P> Td>

Td>

(903.458 P> Td>

) P> Td>

Td> Td>

– P> Td>

Td>

Opbrengst van de verkoop van effecten P> Td>

Td>

410.094 P> Td>

Td> Td> Td>

– P> Td>

Td>

Prepaid adviesovereenkomst P> Td>

Td>

– P> Td>

Td> Td> Td>

(200.000 P> Td>

) P> Td>

Vooruitbetaalde huur P> Td>

Td>

180.000 P> Td>

Td> Td> Td>

(180.000 P> Td>

) P> Td>

Vooruitbetaalde kosten en andere vlottende activa P> Td>

Td>

(963.044 P> Td>

) P> Td>

Td>

(529.335 P> Td>

) P> Td>

Schulden en overlopende rekeningen P> Td>

Td>

2.280.726 P> Td>

Td> Td>

285.156 P> Td>

Td>

Schulden en overlopende rekeningen – verbonden partij P> Td>

Td> Td>

(7,502 P> Td>

) P> Td>

Td> Td>

(951.824 P> Td>

) P> Td>

Uitgestelde opbrengsten / deposito’s van klanten P> Td>

Td> Td>

(416.619 P> Td>

) P> Td>

Td> Td>

120.041 P> Td>

Td>

Uitgestelde belastingverplichting P> Td>

Td>

(2.425.000 P> Td>

) P> Td>

Td>

(16.000 P> Td>

) P> Td>

Cash gebruikt door operationele activiteiten P> Td>

Td> Td>

(15.377.467 P> Td>

) P> Td>

Td> Td>

(5.573.095 P> Td>

) P> Td>

Kasstromen uit investeringsactiviteiten: P> Td>

Netto contanten gebruikt voor fusie P> Td>

Td> Td>

(916.555 P> Td>

) P> Td>

Td> Td>

– P> Td>

Td>

Aankoop van andere beleggingseffecten P> Td>

Td> Td>

– P> Td>

Td> Td> Td>

(300.000 P> Td>

) P> Td>

Aankoop van immateriële activa P> Td>

Td> Td>

(50.000 P> Td>

) P> Td>

Td> Td>

(360.000 P> Td>

) P> Td>

Aankoop van onroerend goed en apparatuur P> Td>

Td>

(1.198.618 P> Td>

) P> Td>

Td>

(23.559 P> Td>

) P> Td>

Cash verstrekt door (gebruikt door) investeringsactiviteiten P> Td>

Td>

(2.133.850 P> Td>

) P> Td>

Td>

(683.559 P> Td>

) P> Td> Tr> table> div>

CBDMD, INC. P>

GECONSOLIDEERDE KASSTROOMOVERZICHTEN P>

VOOR HET JAAR EINDIGEND OP 30 SEPTEMBER 2019 EN 2018 P>

(Vervolg) P> Td>

Kasstromen uit financieringsactiviteiten: P> Td>

Opbrengst van uitgifte van gewone aandelen P> Td>

Td>

19.009.897 P> Td>

Td> Td>

10.927.535 P> Td>

Td>

Noot te betalen – verbonden partij P> Td>

Td>

(764.300 P> Td>

) P> Td>

Td>

– P> Td>

Td>

Uitgestelde uitgiftekosten P> Td>

Td> Td>

(326.868 P> Td>

) P> Td>

Td> Td>

(672.574 P> Td>

) P> Td>

Cash verstrekt door financieringsactiviteiten P> Td>

Td>

17.918.729 P> Td>

Td> Td>

10.254.961 P> Td>

Td>

Netto (afname) toename in contanten P> Td>

Td>

407.413 P> Td>

Td> Td>

3.998.307 P> Td>

Td>

Geldmiddelen en kasequivalenten, begin van het jaar P> Td>

Td>

4.282.553 P> Td>

Td> Td>

284.246 P> Td>

Td>

Geldmiddelen en kasequivalenten, einde jaar P> Td>

$ b> P> Td>

4.689.966 b> P> Td>

Td>

$ b> P> Td>

4.282.553 b> P> Td>

Td> Tr> table> div>

Aanvullende openbaarmaking van kasstroominformatie: P> Td>

Td> Td> Td> Td> Td> Td>
Td> Td> Td>

2019 P> Td>

Td>

2018 P> Td>

Td> Td> Td> Td> Td> Td>

Contante betalingen voor: P> Td>

Td> Td> Td> Td> Td>

Rentekosten P> Td>

Td> Td>

$ P> Td>

39.295 P> Td>

Td>

$ P> Td>

955 P> Td>

Td> Td> Td> Td> Td> Td>
Td> Td> Td> Td> Td> Td>

Niet-contante financiële / investeringsactiviteiten: P> Td>

Td> Td> Td> Td> Td>

Uitwisseling van aandelenbeleggingen in de toekomst, opgenomen onder Debiteuren overige P> Td>

Td> Td>

$ P> Td>

– P> Td>

Td>

$ P> Td>

160.000 P> Td>

Voorraden ontvangen voor diensten van voorgaande periodes, gecorrigeerd voor andere te ontvangen vorderingen, afgeschreven vóór ontvangst – uit beëindigde bedrijfsactiviteiten P> Td>

Td> Td>

$ P> Td>

1.352.000 P> Td>

Td>

$ P> Td>

– P> Td>

Warrants uitgegeven aan secundaire verkoopagent P> Td>

Td> Td>

$ P> Td>

309.592 P> Td>

Td> Td>

171.600 P> Td>

Vaststelling van ASU 2016-01 P> Td>

Td> Td>

$ P> Td>

2.512.539 P> Td>

Td>

$ P> Td>

– P> Td>

Verwerving van onroerend goed en uitrusting via een kapitaalfinancieringsregeling P> Td>

Td> Td>

$ P> Td>

249.100 P> Td>

Td>

$ P> Td>

– P> Td> Tr> table> div>

span> p>                 Div>
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