Full-line CBD and hemp oil company, CBD of Denver (OTCMKTS:CBDD) has given an update on its US audit. The company engaged FRUCI Associates for fulfilling US audit for the firm to become reporting company according to guidelines of the SEC. CBD of Denver received feedback from FRUCI that no changes are expected on the financials. Reports drafted by audit team would be going through the FRUCI quality control and the firm anticipates final reports to be distributed shortly. CBD of Denver has already commenced preparing Form-10 filing along with corporate counsel for speeding up filing with SEC once financial figures are confirmed.
Marcel Gamma, CEO of CBD of Denver, said that the company lauds patience as well as support of shareholders and investors. Gamma added that even though the process has been deferred a number of times, it would be completing the process shortly ensuring trust of the shareholders.
CBD of Denver also came out with financial and business highlights for quarter two as well as six months ending June 30, 2021.
The firm saw revenues surge by 2800% to reach $14.4 million in the first half of 2021 vis-à-vis $517,025 in first half of 2020. CBD’s Gross profit increased to almost 1000% to reach $1.5 million in first half of 2021 vis-à-vis $154,203 in first half of 2020. The company’s net income also augmented by 641% to over $1.2 million for first half of 2021 vis-à-vis loss of $189,704 in first half of 2020