10-Q Filing

CBDMD, INC. CIK: 1644903 Q1 2024

Filing Information

Form Type	10-Q
Accession Number	`0001437749-24-003902`
Period End Date	20231231
Filing Date	20240213
Fiscal Year	2024
Fiscal Period	Q1
XBRL Instance	ycbd20231231_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 32 Cash Flow Statement 62 Stockholders Equity 18 Comprehensive Income 8

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Preferred Stock, Shares Authorized (in shares)	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Preferred Stock, Shares Authorized (in shares)	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.50M	USD	Point-in-time
Preferred Stock, Par or Stated Value Per Share (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock, Par or Stated Value Per Share (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.80M	USD	Point-in-time
Preferred Stock, Shares Issued (in shares)	`PreferredStockSharesIssued`	5.00M	shares	Point-in-time
Accounts receivable	`AccountsReceivableGrossCurrent`	$1.22M	USD	Point-in-time
Accounts receivable	`AccountsReceivableGrossCurrent`	$1.10M	USD	Point-in-time
Preferred Stock, Shares Issued (in shares)	`PreferredStockSharesIssued`	5.00M	shares	Point-in-time
Preferred Stock, Shares Outstanding, Ending Balance (in shares)	`PreferredStockSharesOutstanding`	5.00M	shares	Point-in-time
Preferred Stock, Shares Outstanding, Ending Balance (in shares)	`PreferredStockSharesOutstanding`	5.00M	shares	Point-in-time
Inventory	`InventoryGross`	$3.55M	USD	Point-in-time
Inventory	`InventoryGross`	$4.05M	USD	Point-in-time
Inventory prepaid	`PrepaidInventory`	$182.68K	USD	Point-in-time
Inventory prepaid	`PrepaidInventory`	$188.25K	USD	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid sponsorship	`PrepaidSponsorship`	$70.06K	USD	Point-in-time
Prepaid sponsorship	`PrepaidSponsorship`	$29.47K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$986.82K	USD	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	2.96M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$750.38K	USD	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	2.96M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	2.96M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	2.96M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$7.37M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.07M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$790.35K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$716.58K	USD	Point-in-time
Operating lease assets	`OperatingLeaseRightOfUseAsset`	$3.35M	USD	Point-in-time
Operating lease assets	`OperatingLeaseRightOfUseAsset`	$3.06M	USD	Point-in-time
Deposits for facilities	`DepositsAssetsNoncurrent`	$138.71K	USD	Point-in-time
Deposits for facilities	`DepositsAssetsNoncurrent`	$132.20K	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$3.05M	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$3.22M	USD	Point-in-time
Investment in other securities, noncurrent	`OtherLongTermInvestments`	$700.00K	USD	Point-in-time
Investment in other securities, noncurrent	`OtherLongTermInvestments`	$700.00K	USD	Point-in-time
Total other assets	`OtherAssets`	$7.73M	USD	Point-in-time
Total other assets	`OtherAssets`	$8.13M	USD	Point-in-time
Total assets	`Assets`	$15.10M	USD	Point-in-time
Total assets	`Assets`	$16.20M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.57M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.91M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.48M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$3.10M	USD	Point-in-time
Operating leases current portion	`OperatingLeaseLiabilityCurrent`	$1.28M	USD	Point-in-time
Operating leases current portion	`OperatingLeaseLiabilityCurrent`	$1.30M	USD	Point-in-time
Note payable	`NotesPayableCurrent`	$2.49K	USD	Point-in-time
Note payable	`NotesPayableCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.97M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.67M	USD	Point-in-time
Long term liabilities	`LongTermDebtNoncurrent`	-	USD	Point-in-time
Long term liabilities	`LongTermDebtNoncurrent`	$9.00	USD	Point-in-time
Operating leases - long term portion	`OperatingLeaseLiabilityNoncurrent`	$2.07M	USD	Point-in-time
Operating leases - long term portion	`OperatingLeaseLiabilityNoncurrent`	$2.40M	USD	Point-in-time
Contingent liability	`BusinessCombinationContingentConsiderationLiabilityNoncurrent`	$20.61K	USD	Point-in-time
Contingent liability	`BusinessCombinationContingentConsiderationLiabilityNoncurrent`	$90.36K	USD	Point-in-time
Total long term liabilities	`LiabilitiesNoncurrent`	$2.09M	USD	Point-in-time
Total long term liabilities	`LiabilitiesNoncurrent`	$2.49M	USD	Point-in-time
Total liabilities	`Liabilities`	$8.06M	USD	Point-in-time
Total liabilities	`Liabilities`	$7.16M	USD	Point-in-time
Commitments and Contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, authorized 50,000,000 shares, $0.001 par value, 5,000,000 and 5,000,000 shares issued and outstanding, respectively	`PreferredStockValue`	$5.00K	USD	Point-in-time
Preferred stock, authorized 50,000,000 shares, $0.001 par value, 5,000,000 and 5,000,000 shares issued and outstanding, respectively	`PreferredStockValue`	$5.00K	USD	Point-in-time
Common stock, authorized 150,000,000 shares, $0.001 par value, 2,961,056 and 1,960,573 shares issued and outstanding, respectively	`CommonStockValue`	$2.96K	USD	Point-in-time
Common stock, authorized 150,000,000 shares, $0.001 par value, 2,961,056 and 1,960,573 shares issued and outstanding, respectively	`CommonStockValue`	$2.96K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$183.39M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$183.39M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-174.36M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-176.36M	USD	Point-in-time
Total cbdMD, Inc. shareholders' equity	`StockholdersEquity`	$31.42M	USD	Point-in-time
Total cbdMD, Inc. shareholders' equity	`StockholdersEquity`	$7.04M	USD	Point-in-time
Total cbdMD, Inc. shareholders' equity	`StockholdersEquity`	$9.03M	USD	Point-in-time
Total cbdMD, Inc. shareholders' equity	`StockholdersEquity`	$26.59M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$15.10M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$16.20M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Gross Sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$5.38M	USD	1 Quarter
Gross Sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$6.24M	USD	1 Quarter
Allowances	`SalesAllowances`	$155.31K	USD	1 Quarter
Allowances	`SalesAllowances`	$225.00	USD	1 Quarter
Total Net Sales	`Revenues`	$6.09M	USD	1 Quarter
Total Net Sales	`Revenues`	$5.38M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$2.52M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$1.82M	USD	1 Quarter
Gross Profit	`GrossProfit`	$3.57M	USD	1 Quarter
Gross Profit	`GrossProfit`	$3.56M	USD	1 Quarter
Operating expenses	`OperatingExpensesExcludingImpairment`	$4.62M	USD	1 Quarter
Operating expenses	`OperatingExpensesExcludingImpairment`	$7.61M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.05M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.07M	USD	1 Quarter
Decrease of contingent liability	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$-61.00K	USD	1 Quarter
Decrease of contingent liability	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$-69.75K	USD	1 Quarter
Interest expense (income)	`InterestIncomeExpenseNet`	$-418.00	USD	1 Quarter
Interest expense (income)	`InterestIncomeExpenseNet`	$29.12K	USD	1 Quarter
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-996.50K	USD	1 Quarter
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-3.96M	USD	1 Quarter
Benefit for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Benefit for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-3.96M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-996.50K	USD	1 Quarter
Preferred dividends	`PreferredStockDividendsIncomeStatementImpact`	$1.00M	USD	1 Quarter
Preferred dividends	`PreferredStockDividendsIncomeStatementImpact`	$1.00M	USD	1 Quarter
Net Loss attributable to cbdMD, Inc. common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-4.96M	USD	1 Quarter
Net Loss attributable to cbdMD, Inc. common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.00M	USD	1 Quarter
Basic and Diluted earnings per share (in dollars per share)	`EarningsPerShareBasic`	$-3.70	USD	1 Quarter
Basic and Diluted earnings per share (in dollars per share)	`EarningsPerShareBasic`	$-0.67	USD	1 Quarter
Weighted average number of shares Basic and Diluted: (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	1.34M	shares	1 Quarter
Weighted average number of shares Basic and Diluted: (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.96M	shares	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss) Attributable to Parent	`NetIncomeLoss`	$-3.96M	USD	1 Quarter
Net Income (Loss) Attributable to Parent	`NetIncomeLoss`	$-996.50K	USD	1 Quarter
Stock based compensation	`StockOptionPlanExpense`	$79.45K	USD	1 Quarter
Stock based compensation	`StockOptionPlanExpense`	$1.77K	USD	1 Quarter
Restricted stock expense	`RestrictedStockExpense`	$689.00	USD	1 Quarter
Restricted stock expense	`RestrictedStockExpense`	$43.45K	USD	1 Quarter
Write off of prepaid assets due to termination of contractual obligation	`WriteOffOfPrepaidAssets`	$884.89K	USD	1 Quarter
Write off of prepaid assets due to termination of contractual obligation	`WriteOffOfPrepaidAssets`	-	USD	1 Quarter
Intangibles amortization	`AmortizationOfIntangibleAssets`	$172.84K	USD	1 Quarter
Intangibles amortization	`AmortizationOfIntangibleAssets`	$277.35K	USD	1 Quarter
Depreciation	`Depreciation`	$100.11K	USD	1 Quarter
Depreciation	`Depreciation`	$110.86K	USD	1 Quarter
Impairment of goodwill and other intangible assets	`GoodwillAndIntangibleAssetImpairment`	-	USD	1 Quarter
Impairment of goodwill and other intangible assets	`GoodwillAndIntangibleAssetImpairment`	-	USD	1 Quarter
Decrease in contingent liability	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$-61.00K	USD	1 Quarter
Decrease in contingent liability	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$-69.75K	USD	1 Quarter
Amortization of operating lease asset	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$290.46K	USD	1 Quarter
Amortization of operating lease asset	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$276.64K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-67.17K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-549.11K	USD	1 Quarter
Deposits	`IncreaseDecreaseInDepositOtherAssets`	$-105.90K	USD	1 Quarter
Deposits	`IncreaseDecreaseInDepositOtherAssets`	$-6.50K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-498.58K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$434.69K	USD	1 Quarter
Prepaid inventory	`IncreaseDecreaseInPrepaidInventoryTotal`	$-340.80K	USD	1 Quarter
Prepaid inventory	`IncreaseDecreaseInPrepaidInventoryTotal`	$5.58K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$195.85K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$226.67K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$39.20K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$142.29K	USD	1 Quarter
Operating lease liability	`IncreaseDecreaseInOperatingLeaseLiability`	$-311.66K	USD	1 Quarter
Operating lease liability	`IncreaseDecreaseInOperatingLeaseLiability`	$-287.55K	USD	1 Quarter
Deferred revenue / customer deposits	`IncreaseDecreaseInDeferredRevenue`	$182.29K	USD	1 Quarter
Deferred revenue / customer deposits	`IncreaseDecreaseInDeferredRevenue`	$203.34K	USD	1 Quarter
Collection on discontinued operations accounts receivable	`CollectionOnDiscontinuedOperationsAccountsReceivable`	$1.38K	USD	1 Quarter
Collection on discontinued operations accounts receivable	`CollectionOnDiscontinuedOperationsAccountsReceivable`	-	USD	1 Quarter
Cash used by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.06M	USD	1 Quarter
Cash used by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-105.88K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$177.37K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$184.63K	USD	1 Quarter
Cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-184.63K	USD	1 Quarter
Cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-177.37K	USD	1 Quarter
Note payable	`ProceedsFromRepaymentsOfNotesPayable`	$-2.50K	USD	1 Quarter
Note payable	`ProceedsFromRepaymentsOfNotesPayable`	$-125.34K	USD	1 Quarter
Preferred dividend distribution	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$1.00M	USD	1 Quarter
Preferred dividend distribution	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	-	USD	1 Quarter
Cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.13M	USD	1 Quarter
Cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.50K	USD	1 Quarter
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-3.37M	USD	1 Quarter
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-293.02K	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.50M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$6.72M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.35M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.80M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.50M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$6.72M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.35M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.80M	USD	Point-in-time
Interest expense	`InterestPaidNet`	$11.61K	USD	1 Quarter
Interest expense	`InterestPaidNet`	$2.64K	USD	1 Quarter
Preferred dividends accrued but not paid	`PreferredDividendsAccruedNotYetPaid`	-	USD	1 Quarter
Preferred dividends accrued but not paid	`PreferredDividendsAccruedNotYetPaid`	$1.00M	USD	1 Quarter

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$31.42M	USD	Point-in-time
Balance	`StockholdersEquity`	$7.04M	USD	Point-in-time
Balance	`StockholdersEquity`	$9.03M	USD	Point-in-time
Balance	`StockholdersEquity`	$26.59M	USD	Point-in-time
Issuance of stock	`StockIssuedDuringPeriodValueNewIssues`	-	USD	1 Quarter
Issuance of stock	`StockIssuedDuringPeriodValueNewIssues`	-	USD	1 Quarter
Issuance of restricted stock for share based compensation	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	$689.00	USD	1 Quarter
Issuance of restricted stock for share based compensation	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	$43.45K	USD	1 Quarter
Preferred dividend declared, not paid	`DividendsPreferredStockCash`	$1.00M	USD	1 Quarter
Preferred dividend declared, not paid	`DividendsPreferredStockCash`	$1.00M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-3.96M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-996.50K	USD	1 Quarter
Issuance of Common Stock	`StockIssuedDuringPeriodValueNewIssues`	-	USD	1 Quarter
Issuance of Common Stock	`StockIssuedDuringPeriodValueNewIssues`	-	USD	1 Quarter
Balance	`StockholdersEquity`	$31.42M	USD	Point-in-time
Balance	`StockholdersEquity`	$7.04M	USD	Point-in-time
Balance	`StockholdersEquity`	$9.03M	USD	Point-in-time
Balance	`StockholdersEquity`	$26.59M	USD	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`NetIncomeLoss`	$-3.96M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-996.50K	USD	1 Quarter
Comprehensive Loss	`ComprehensiveIncomeLossNetOfTaxAttributableToParentBeforeIncomeAdjustments`	$-996.50K	USD	1 Quarter
Comprehensive Loss	`ComprehensiveIncomeLossNetOfTaxAttributableToParentBeforeIncomeAdjustments`	$-3.96M	USD	1 Quarter
Preferred dividends	`PreferredStockDividendsIncomeStatementImpact`	$1.00M	USD	1 Quarter
Preferred dividends	`PreferredStockDividendsIncomeStatementImpact`	$1.00M	USD	1 Quarter
Comprehensive Loss Income attributable to cbdMD, Inc. common shareholders	`ComprehensiveIncomeNetOfTax`	$-2.00M	USD	1 Quarter
Comprehensive Loss Income attributable to cbdMD, Inc. common shareholders	`ComprehensiveIncomeNetOfTax`	$-4.96M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.