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EX-99.2 - PRESENTATION - cbdMD, Inc. | levb_ex992.htm |
8-K - CURRENT REPORT - cbdMD, Inc. | levb_8k.htm |
Exhibit 99.1
Level Brands Reports Preliminary Q3 Fiscal 2018 Net Sales of $3.0
Million to $3.2 Million
Preliminary Year-over-Year Quarterly Total Net Sales Expected
Increase of 68%-79%
CHARLOTTE,
N.C.—July 24, 2018—(BUSINESS WIRE)--Level Brands, Inc.
(NYSE American: LEVB), an innovative licensing and brand management
company that provides bold, unconventional, and socially
responsible branding for leading businesses, today announced
preliminary third quarter fiscal 2018 total net sales are estimated
to be between $3.0 million and $3.2 million, a year-over-year
increase of 68%-79%, with operating income before taxes of $500,000
to $600,000, compared to an operating loss before taxes of $178,000
in the year-ago period. Third quarter fiscal 2018 anticipated
results are preliminary and based on the most current information
available and are subject to completion of the condensed
consolidated financial statements for the third quarter of fiscal
2018, which are to be filed with the SEC no later than August 14,
2018.
“Our
anticipated results for the third quarter reflect the strong
foundation that we’ve laid and the strength of our
team,” stated Martin A. Sumichrast, Chairman and CEO of Level
Brands. “Looking ahead, we expect a strong finish to the
year, and an even stronger performance in 2019 as royalty streams
from many of the licensing and brand management agreements signed
in recent months begin to grow. With the benefit of low overhead
and no inventory, creating highly attractive margins, we anticipate
strong bottom line results both in the near-term and
beyond.”
The
preliminary financial information has been prepared internally by
management and has not been reviewed or audited by our independent
registered public accounting firm. There can be no assurance that
actual results for the period presented herein will not differ from
the preliminary financial information presented herein and such
changes could be material. This preliminary financial data should
not be viewed as a substitute for full financial statements
prepared in accordance with
GAAP
and is not necessarily indicative of the results to be achieved for
any future period.
About Level Brands, Inc. (www.LevelBrands.com)
Level
Brands is an innovative marketing and licensing company that
provides bold, unconventional, and socially responsible branding
for leading businesses. The focus of LEVB is licensing and
corporate brand management for consumer products, including art,
beauty, fashion, the beverage space, health and wellness, and
entertainment. License brand marketing is at the core of the Level
Brands businesses: kathy
ireland® Health & Wellness; Ireland Men One
(I’M1), a men’s lifestyle brand established to
capitalize on potentially lucrative licensing and co-branding
opportunities with brands focused on millennials; Encore Endeavor
One (EE1), a provider of corporate brand-management services and
producer of experiential entertainment events and products across
multiple platforms.
Forward-Looking Statements
This
press release contains certain forward-looking statements that are
based upon current expectations and involve certain risks and
uncertainties within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. Such forward-looking statements can
be identified by the use of words such as ''should,'' ''may,''
''intends,'' ''anticipates,'' ''believes,'' ''estimates,''
''projects,'' ''forecasts,'' ''expects,'' ''plans,'' and
''proposes.'' These forward-looking statements are not guarantees
of future performance and are subject to risks, uncertainties, and
other factors, some of which are beyond our control and difficult
to predict and could cause actual results to differ materially from
those expressed or forecasted in the forward-looking statements,
including, without limitation, statements made with respect to our
actual financial results for the third quarter of fiscal 2018 and
the nine months ended June 30, 2018 to be contained in our
Quarterly Report on Form 10-Q to be filed with the SEC, our
material dependence on our relationship with kathy ireland®
Worldwide, our limited operating history, our ability to expand our
business and significantly increase our revenues and our ability to
report profitable operations in future periods, among others. You
are urged to carefully review and consider any cautionary
statements and other disclosures, including the statements made
under the heading "Risk Factors" in Level Brands, Inc.'s Annual
Report on Form 10-K for the fiscal year ended September 30, 2017 as
filed with the Securities and Exchange Commission (the "SEC") on
December 26, 2017 and our other filings with the SEC. All
forward-looking statements involve significant risks and
uncertainties that could cause actual results to differ materially
from those in the forward-looking statements, many of which are
generally outside the control of Inuvo and are difficult to
predict. Level Brands, Inc. does not undertake any
duty to update any forward-looking statements except as may be
required by law.
Contact:
Investors:
RedChip
Companies
Craig
Brelsford, 407-644-4256
craig@redchip.com