cbdMD Announces Additional Conversions of Its Convertible Notes

Core Viewpoint - cbdMD, Inc. has successfully reduced the principal amount of its Senior Secured Convertible Notes to approximately $56,000 as of January 8, 2025, following conversions by certain note holders [1][2]. Group 1: Financial Performance - The company has issued a total of 609,717 shares of common stock due to conversion requests, resulting in a reduction of approximately $309,000 in principal, in addition to accrued interest [2]. - As of January 8, 2024, cbdMD has 6,152,841 shares of common stock issued and outstanding [2]. - At the end of the first fiscal quarter, the company reported cash and cash equivalents of approximately $2.1 million, indicating a strong liquidity position to start calendar 2025 [3]. Group 2: Company Overview - cbdMD is recognized as a leading and trusted cannabidiol (CBD) brand, offering a comprehensive line of U.S. produced, THC-free CBD products, including NSF Certified for Sport® products and Full Spectrum products [4]. - The company's product range includes CBD tinctures, gummies, topicals, capsules, sleep aids, and drink products, as well as veterinarian-formulated pet products under the Paw CBD brand [4].