Questions & Answers
Is Marcel Gamma still involved with the company?
No. Mr. Gamma resigned as CEO of CBD of Denver on March 8, 2022 and as CEO of Swiss Industry Ventures on April 14, 2022.
Has Marcel Gamma ever owned any shares?
No. Mr. Gamma never personally owned any shares of CBDD.
Is Paul Gurney a shareholder?
No. Mr. Gurney has never personally owned any shares of CBDD.
Does Axel Reinke own any shares?
Mr. Reinke owns preferred shares that are convertible into common shares. As Mr. Reinke is an affiliate he can only sell under Rule 144, subject to certain volume limitations or pursuant to a registration statement declared effective by the US SEC.
Is there any toxic debt?
There company has no convertible debt.
Who is in charge of the Company?
Axel Reinke is the CEO and President of the Company.
What is the status of the Audit with Fruci associates?
2019 and 2020 have been completed by both US and Swiss Auditor. 2021 has been completed by our Swiss auditor and new management is in daily contact with Fruci Associates answering all questions to complete the PCAOB Audit for 2021 and 2022.
What happened to Mellow?
After due diligence the company realized that Mellow had legal challenges that were not disclosed by its management. Therefore, management decided not to close the Mellow transaction and issue a notice that the agreement has been terminated.
What is Libra 9 GmbH?
Libra 9 GmbH owns the assets and technology of the Magic Lappen that was developed by Axel Reinke. The acquisition of Libra 9 has been completed.
Who is the CEO of CBD of Denver Inc?
Does Paul Gurney still have any day-to-day activity in CBD of Denver Inc?
No. Mr. Gurney is remaining as a Board director during the transition to assist the company with this transition.
What is the Company doing regain the confidence of its valued shareholders?
The Company started a robust communication program using press releases and social media to keep shareholders informed. The company will announce events as they happen and is establishing a Q&A section on the website to answer all shareholder’s questions.
What have been the sales of the Magic Lappen?
At the Düsseldorfer Boat Show the company sold an average of 107 pieces each day. The product was sold out within 5 days. At the second off-site location in the Mall Havelland the company sold an average of 49 pieces a day. The company is getting consumer feedback from its original locations to understand consumer preferences and making changes to Magic Lappen. The Company already made the product softer and larger based on consumer’s feedback.
Does the company have a series of products to add to the Magic Lappen in Libra 9 GmbH?
The company has first right of refusal for all products and technology of Axel Reinke, including Anti-slip products and a revolutionary disinfectant.
Is the Magic Lappen product profitable?
At the Düsseldorfer Boat Show the gross profit margins was 93.7%.
Is CBD of Denver Inc still in the CBD business?
Yes, but this business operates separately from Libra 9 and Magic Lappen.
What is the status with Swiss Pilot program?
The company is still exploring the opportunity. In a first for Switzerland, authorities allowed the legal sale of Cannabis for recreational use, however only in the city of Basel and for a limited number of selected participants. The pilot program aims to understand regulatory forms, such as controlled sales at pharmacies. CBD of Denver is still negotiating to be part of this program for Zurich.
What is the status with Tokem App?
The company is still exploring this with its development partner in Canada. As it progresses, or is canceled, the public will be informed
What is the status with the HHC product?
Product was shipped to the United Kingdom and will sell through. However, the value proposition, need for the product, and pricing has diminished.
What is the status with the digital marketing agency in Glasgow?
The company decided it was its best interest to close the company down. However, we have hired local people to start daily posting on our social media channels starting with Instagram. We are expanding into TikTok, Youtube, Linked In and Facebook in February 2023.
Why hasn’t the CBD of Denver Website been updated?
The Company’s website will be updated shortly as new management just received the access codes.
What is the status with Rockflowr GmbH?
Rockflowr’s customers have been transitioned to CBD of Denver which maintains a small wholesale business.
How do we know that the company has actually produced the revenue?
The company has completed its Audit of 2019 and 2020 with its US and Swiss Auditor. The 2021 is being completed which is new management’s first priority. The Swiss Audit for 2021 has been completed.
On March 14, 2023, the Company announced letters of intent to acquire companies in the CBD and Wellness industry and its eventual plan to spin off its CBD operations. Will the new spinoff company include sales from The Magic Lappen?
No. Magic Lappen is a product of Libra 9 GmbH a subsidiary of CBD of Denver Inc. Magic Lappen will remain a part of CBD of Denver Inc. after any spinoff of the Company’s CBD operations. CBD of Denver shareholders will receive shares in the new spinoff company. Therefore, CBD of Denver shareholders will have shares in both the Magic Lappen business and the spun off CBD operations, benefitting from both.
Why are you spinning off the CBD companies? Why not keep everything together?
We believe that the shareholders of CBD of Denver will realize more value if they have shares in two separate companies. By having two separate companies each can concentrate on their core business and attract investors interested in investing in either CBD and Wellness or innovative non-CBD products. Shareholders of CBD of Denver at the time of the spinoff will own shares in both companies and be able to unlock the value of each independently.
What are the terms of the spinoff? How will I get shares in the new company?
The Company has not determined the structure of the spinoff. Once the Company has completed the acquisitions that it has announced it will be able to provide more information on a potential spinoff and how CBD of Denver shareholders will receive shares in the spinoff company
Forward Looking Statements
Certain statements made in this Q&A are “forward looking statements” that are based on CBD of Denver’s beliefs, assumptions, current expectations, estimates and projections. Forward looking statements involve known and unknown risks and uncertainties that may cause forecasted results to differ from actual results. Such risks include, but are not limited to market conditions, competitive factors, the ability to complete the proposed transaction and other such related risks. CBD of Denver can give no assurances that any projections related to revenues, profit margins or profits will be realized or that any acquisitions will be completed or that the proposed spinoff will occur. Statements that are not historical fact, including without limitation statements which are preceded by, followed by or include the words “believes,” “anticipates,” “plans,” “expects,” “estimates,” “may,” “should,” “intends,” or similar expressions are forward looking statements. While CBD of Denver believes these assumptions, expectations, estimates, and projections are reasonable, such statements are subject to risks and uncertainties, certain of which are beyond our control and therefore, actual results may differ materially. CBD of Denver believes that many of the risks detailed here are part of doing business in the industry in which we would operate and compete. Forward-looking statements only speak as of the date hereof and we do not undertake and expressly disclaim any obligation to update or release any revisions to any forward-looking statement whether as a result of new information, future events or otherwise except as required by law. While we believe the information used in this Q&A and other public statements to be reliable, its accuracy has not been independently verified and cannot be guaranteed. CBD of Denver can give no assurances that any projections related to revenues, profit margins, profits, acquisitions or corporate actions will be realized.