Demand Brands Inc. (OTCMKTS:DMAN) is moving in a range after releasing financial statements for the recently purchased crucial subsidiaries. The vertically integrated cannabis firm finalized the purchase of CF3 SPV I LLC on February 22, 2022.
Market Reaction
On Wednesday, DMAN stock moved up 1.27% to $0.0118 with more than 536K shares, compared to its average volume of 1.96 million shares. The stock moved within a range of $0.0116 – 0.0135 after opening trade at $0.0123.
Demand Brands (DMAN) Publishes Financial Statements for Its Portfolio Companies
CF3 is a vertically integrated marijuana holding firm. Others include California corporation Viridi Farms and Zenith Land Management, a limited firm owned by DB. As part of the CF3 acquisition, the unaudited financial statements of Zenith and Viridi were prepared and issued to Demand Brands. It is vital to note that these are unaudited financial statements that only show the historical financial performance for FY 2020 and 2021.
Other important and key financial highlights concerning the financial statement have been included in the company’s Corporate Presentation that will offer additional insights to shareholders regarding the information included on the financial statement. In the first week of May 2022, the company will release a shareholder letter detailing its acquisition of CF3 and its milestones. So DMAN is worth watching.
Traders Review
DMAN stock is trading below 20-Day and 50-Day Moving averages of $0.0141 and $0.0143 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0169.
