cbdMD, Inc. Q1 FY25 Assets & Liabilities Revealed

TL;DR

CBDM Q1 assets $5.5M, liabilities $3.9M. Financials filed.

AI Summary

For the first quarter of fiscal year 2025, ending December 31, 2024, cbdMD, Inc. reported total assets of $5,543,124 and total liabilities of $3,939,057. The company's filing indicates a significant change in its former name from Level Brands, Inc. on February 2, 2017.

Why It Matters

This filing provides a snapshot of cbdMD's financial health at the end of the first quarter, offering insights into its asset base and debt obligations.

Risk Assessment

Risk Level: medium — The company has a history of name changes and operates in the volatile CBD industry, which can present financial and regulatory risks.

Key Numbers

• $5.54M — Total Assets (As of December 31, 2024)
• $3.94M — Total Liabilities (As of December 31, 2024)
• 0.001 — Earnings Per Share (Basic) (For the three months ended December 31, 2024)

Key Players & Entities

• cbdMD, Inc. (company) — Filer
• Level Brands, Inc. (company) — Former company name
• $5,543,124 (dollar_amount) — Total assets as of December 31, 2024
• $3,939,057 (dollar_amount) — Total liabilities as of December 31, 2024
• February 2, 2017 (date) — Date of former company name change

FAQ

Filing Documents

• ycbd20241231_10q.htm (10-Q) — 913KB
• ex_755252.htm (EX-31.1) — 14KB
• ex_755253.htm (EX-32.1) — 8KB
• fullproductlineupatrx25.jpg (GRAPHIC) — 16KB
• fullproductlineupcbdmd25.jpg (GRAPHIC) — 21KB
• fullproductlineuppaw2.jpg (GRAPHIC) — 13KB
• ycbd_10qimg1.jpg (GRAPHIC) — 4KB
• ycbd_10qimg5.jpg (GRAPHIC) — 3KB
• 0001437749-25-003752.txt ( ) — 4884KB
• ycbd-20241231.xsd (EX-101.SCH) — 51KB
• ycbd-20241231_cal.xml (EX-101.CAL) — 41KB
• ycbd-20241231_def.xml (EX-101.DEF) — 320KB
• ycbd-20241231_lab.xml (EX-101.LAB) — 284KB
• ycbd-20241231_pre.xml (EX-101.PRE) — 350KB
• ycbd20241231_10q_htm.xml (XML) — 560KB

-FINANCIAL INFORMATION

PART I-FINANCIAL INFORMATION ITEM 1. Condensed Consolidated Financial Statements. 5 ITEM 2. Management ' s Discussion and Analysis of Financial Condition and Results of Operations. 26 ITEM 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk. 34 ITEM 4.

Controls and Procedures

Controls and Procedures. 34

- OTHER INFORMATION

PART II - OTHER INFORMATION ITEM 1. Legal Proceedings. 35 ITEM 1A. Risk Factors. 35 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds. 35 ITEM 3. Defaults Upon Senior Securities. 35 ITEM 4. Mine Safety Disclosures. 35 ITEM 5. Other Information. 36 ITEM 6. Exhibits. 36 2 Table of Contents OTHER PERTINENT INFORMATION Unless the context otherwise indicates, when used in this report, the terms the "Company," "cbdMD, "we," "us, "our" and similar terms refer to cbdMD, Inc., a North Carolina corporation formerly known as Level Brands, Inc., and our subsidiaries CBD Industries LLC, a North Carolina limited liability company formerly known as cbdMD LLC, which we refer to as "CBDI", Paw CBD, Inc., a North Carolina corporation which we refer to as "Paw CBD", Proline Global, LLC, a North Carolina limited liability company which we refer to as "Proline", and cbdMD Therapeutics LLC, a North Carolina limited liability company which we refer to as "Therapeutics". In addition, "fiscal 2024" refers to the year ended September 30, 2024, "fiscal 2025" refers to the fiscal year ending September 30, 2025, "first quarter of 2024" refers to the three months ended December 31, 2023 and "first quarter of 2025" refers to the three months ended December 31, 2024. We maintain a corporate website at www.cbdmd.com. The information contained on our corporate website and our various social media platforms are not part of this report. 3 Table of Contents CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION This report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These forward-looking statements that relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS. cbdMD, INC. CONDENSED CONSOLIDATED BALANCE SHEETS December 31, 2024 AND SEPTEMBER 30, 2024 (Unaudited) (Unaudited) December 31, September 30, 2024 2024 Assets Current assets: Cash and cash equivalents $ 1,970,217 $ 2,452,553 Accounts receivable 1,272,846 983,910 Inventory 2,116,136 2,365,187 Inventory prepaid 356,819 159,006 Prepaid sponsorship 7,126 21,754 Prepaid expenses and other current assets 637,559 406,674 Total current assets 6,360,703 6,389,084 Other assets: Property and equipment, net 511,915 454,268 Operating lease assets 1,209,338 85,817 Deposits for facilities 62,708 62,708 Intangible assets 2,698,313 2,889,580 Investment in other securities, noncurrent 700,000 700,000 Total other assets 5,182,274 4,192,373 Total assets $ 11,542,977 $ 10,581,457 See Notes to Condensed Consolidated Financial Statements 5 Table of Contents cbdMD, INC. CONDENSED CONSOLIDATED BALANCE SHEETS December 31, 2024 AND SEPTEMBER 30, 2024 (continued ) (Unaudited) December 31, September 30, 2024 2024 Liabilities and shareholders' equity Current liabilities: Accounts payable $ 1,161,133 $ 1,541,108 Accrued expenses 775,946 632,674 Accrued dividends 5,671,500 4,671,000 Deferred revenue 527,438 503,254 Operating leases – current portion 671,765 98,696 Convertible notes, at fair value 362,021 1,171,308 Total current liabilities 9,169,803 8,618,040 Long term liabilities: Operating leases - long term portion 591,583 - Total long term liabilities 591,583 - Total liabilities 9,761,386 8,618,040 Commitments and Contingencies (Note 10) cbdMD, Inc. shareholders' equity: Preferred stock, authorized 50,000,000 shares, $ 0.001 par value, 5,000,000 and 5,000,000 shares issued and outstanding, respectively 5,000 5,000 Common stock, authorized 150,000,000 shares, $ 0.001 par value, 5,543,124 and 3,939,057 shares issued and outstanding,

View Full Filing

View this 10-Q filing on SEC EDGAR