cbdMD settles former lease with $255K payment, records $550K gain

cbdMD, Inc.

Made $255,000 payment on Aug 15, 2024 to satisfy all past due lease amounts; mutual release executed.
Anticipates $550,000 gain on settlement of accrued past due rent, interest, and penalties.
$230,000 non-cash expense from elimination of right-of-use asset/liability partially offsets gain.
No further obligations to landlord under former lease agreements.

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