SEC Info - Can B Corp. - ‘10-Q’ for 6/30/23

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		Alternative Formats (Word, et al.) Condensed Notes to Unaudited Consolidated Financial Statements Consolidated Balance Sheets -- June 30, 2023 and December 31, 2022 Consolidated Statement of Stockholders' Equity Three and Six Months Ended June 30, 2023 and 2022 Consolidated Statements of Cash Flows -- Six Months Ended June 30, 2023 and 2022 Consolidated Statements of Operations -- Three and Six Months Ended June 30, 2023 and 2022 Controls and Procedures Defaults Upon Senior Securities Exhibits Financial Information Financial Statements June 30, 2023 and December 31, 2022 Legal Proceedings Management's Discussion and Analysis of Financial Condition and Results of Operations Mine Safety Disclosures Other Information Part I. -- Financial Information Part Ii -- Other Information Quantitative and Qualitative Disclosures About Market Risk Risk Factors Six Months Ended June 30, 2023 and 2022 Three and Six Months Ended June 30, 2023 and 2022 Unregistered Sales of Equity Securities and Use of Proceeds
1	1st Page – Filing Submission
"	Part I. -- Financial Information
"	Financial Statements
"	Consolidated Balance Sheets -- June 30, 2023 and December 31, 2022
"	Consolidated Statements of Operations -- Three and Six Months Ended June 30, 2023 and 2022
"	Consolidated Statement of Stockholders' Equity Three and Six Months Ended June 30, 2023 and 2022
"	Consolidated Statements of Cash Flows -- Six Months Ended June 30, 2023 and 2022
"	Condensed Notes to Unaudited Consolidated Financial Statements
"	Management's Discussion and Analysis of Financial Condition and Results of Operations
"	Quantitative and Qualitative Disclosures About Market Risk
"	Controls and Procedures
"	Part Ii -- Other Information
"	Legal Proceedings
"	Risk Factors
"	Unregistered Sales of Equity Securities and Use of Proceeds
"	Defaults Upon Senior Securities
"	Mine Safety Disclosures
"	Exhibits

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i ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

i ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. i Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). i Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). ☐ Yes ☒ i No

The number of shares of the registrant’s only class of common stock issued and outstanding as of August 18, 2023 is i 9,613,869.

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Can B̅ Corp. was originally incorporated as WrapMail, Inc. (“WRAP”) in Florida on October 11, 2005. On May 15, 2017, WRAP changed its name to Canbiola, Inc. On January 16, 2020 Canbiola, Inc. changed its name to Can B̅ Corp.

The Company acquired 100% of the membership interests in Pure Health Products, LLC, a New York limited liability company (“PHP” or “Pure Health Products”) effective December 28, 2018. The Company runs it manufacturing operations through PHP and holds and sells several of its brands through PHP as well. The Company’s durable equipment products, such as sam® units with and without CBD infused pads, are marketed and sold through its wholly-owned subsidiaries, Duramed Inc. (incorporated on November 29, 2018) and Duramed MI LLC (fka DuramedNJ, LLC) (incorporated on May 29, 2019) (collectively, “Duramed”). Duramed began operating on or about February 1, 2019. Most of the Company’s consumer products include hemp derived cannabidiol (“CBD”); however, the Company has just recently begun extracting cannabinol (“CBN”) and cannabigerol (“CBG”) for wholesale to third-parties looking to incorporate such compounds into their products through its wholly owned subsidiaries, Botanical Biotech, LLC (incorporated March 10, 2021) and TN Botanicals LLC and CO Botanicals LLC (both incorporated in August 2021). The three subsidiaries have also begun synthesizing Delta-8 and Delta-10 from hemp. Delta-8 can produce similar, though less potent, effects as delta-9 (commonly referred to as THC); however, the legality of hemp derived delta-8 is in a gray area.

The Company is in the business of promoting health and wellness through its development, manufacture and sale of products containing cannabinoids derived from hemp biomass and the licensing of durable medical devises. Can B̅’s products include oils, creams, moisturizers, isolate, gel caps, spa products, and concentrates and lifestyle products. Can B̅ develops its own line of proprietary products as well seeks synergistic value through acquisitions in the hemp industry. Can B̅ aims to be the premier provider of the highest quality hemp derived products on the market through sourcing the best raw material and offering a variety of products we believe will improve people’s lives in a variety of areas.

After careful consideration and analysis of the economics, supply chain, processing logistics, and management of manpower the Company decided to consolidate operations in its CO operations in Mead and Ft. Morgan. The company remains fully vertically integrated in legal hemp operations and sales with processing of hemp biomass and crude hemp oil into distillate, isolate, and ultimately into isomers. The Company moved all of its help processing equipment previously located in its Miami, FL operation under Botanical Biotech, LLC to its main hemp processing center in CO. The Company also terminated its lease with the Miami landlord. The Company moved all of the hemp processing equipment previously located in its McMinnville, TN operation under TN Botanicals, LLC to its main hemp processing center in CO.

As a result of these equipment moves, the Colorado operation will, once fully operational, improve operating efficiencies, increase management oversight, and be able to increase throughput by double verse the prior three independent operating facilities. The Company expects to have the consolidated operation fully operational by the end of fiscal 2022. Senior management of the Company will be on-site in CO during this consolidation period to ensure maximum efficiencies and continue operations during this rebuilding period. Immediate impact of the consolidation is elimination of duplicate lines, better coordination of customer orders, reduction in transportation charges, and manpower efficiencies with larger batch sizes and reduced personnel.

The consolidated financial statements include the accounts of CANB and its operational wholly owned subsidiaries.

Revenues decreased $850,409 from $1,271,002 in 2022 to $420,593 in 2023. The decrease is due to the normalization of sales activity with 2022 positively impacted by the wind down of restrictions related to the Covid-19 Pandemic surrounding elective surgeries, enabling an increase in the usage of the Company’s Duramed product lines and ultrasound device associated with patient recovery.

Cost of product sales decreased $96,392 from $1,030,817 in 2022 to $934,425 in 2023 due to the decrease in sales as noted above.

Operating expenses decreased $491,014 from $1,798,794 in 2022 to $1,307,780 and net loss increased $381,127 from $1,645,886 in 2022 to $2,027,013 in 2023 as a result of decrease in revenue offset by a consulting fees, rent and other operating expenses.

Revenues decreased $1,771,424 from $3,131,322 in 2022 to $1,359,898 in 2023. The decrease is due to the normalization of sales activity with 2022 positively impacted by the wind down of restrictions related to the Covid-19 Pandemic surrounding elective surgeries, enabling an increase in the usage of the Company’s Duramed product lines and ultrasound device associated with patient recovery.

Cost of product sales decreased $762,145 from $2,221,147 in 2022 to $1,459,002 in 2023 due to the decrease in sales as noted above.

Operating expenses decreased $2,503,381 from $5,660,791 in 2022 to $3,256,514 and net loss decreased $1,364,733 from $5,130,783 in 2022 to $3,766,050 in 2023 as a result of decrease in revenue offset by a consulting fees, rent and other operating expenses.

At June 30, 2023, the Company had cash and cash equivalents of $123,445 and negative working capital of $5,295,361. Cash and cash equivalents increased $50,251 from $73,194 at December 31, 2022 to $123,445 at June 30, 2023. For the six months ended June 30, 2023, $1,384,557 was provided by financing activities, $1,249,307 was used in operating activities, and $85,000 was used in investing activities.

The Company currently has no agreements, arrangements or understandings with any person to obtain funds through bank loans, lines of credit or any other sources.

The Company has $9.9 million aggregate principal amount of notes becoming due between September 1, 2023 and December 31, 2023. The Company plans to seek additional extensions of these notes or refinance the indebtedness. No assurance can be given that the Company will be successful in obtaining extensions or refinancing the indebtedness.

As of June 30, 2023, our principal executive officer and principal financial officer conducted an evaluation regarding the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) or 15d-15(e) under the Exchange Act). Based upon the evaluation of these controls and procedures, our principal executive officer and principal financial officer concluded that our disclosure controls and procedures were not effective as of the end of the period covered by this report.

There were no changes in our internal control over financial reporting in our fiscal quarter for the period June 30, 2023 covered by this Quarterly Report on Form 10-Q, that have materially affected, or are reasonably likely to materially affect our internal control over financial reporting.

On April 28, 2021, the Company was served with a commercial legal action against the Company and certain officers by David Weissberg and Donna Marino, who are investors in the Company (collectively, the “Investors”). The complaint was filed in the Supreme Court of the State of New York, County of Nassau, Index No. 605191/2021. The complaint alleges four causes of action.

The first cause of action alleges that the Company breached Securities Purchase Agreements with the Investors by failing to assist the Investors in getting opinion letters to remove the restrictive legends from their shares, even though the Company made introductions and requests to the Company’s counsel, provided supporting documents for the Investor’s shares, and ultimately the opinion letters could not be rendered because the Investors failed to submit required documentation to counsel.

The second cause of action is similar to the first but related to alleged misrepresentations regarding removing the restrictive legends from shares that were issued for services rather than purchased.

The third cause of action alleges that the Company mislead the Investors to invest $500,000. The final cause of action alleges that officers of the Company made misrepresentations regarding the value of the Company’s stock, which caused David Weissberg to owe more in taxes than he was expecting.

On or about November 24, 2021, a vendor of the Company filed amended suit against the Company in Florida, Case No. 2021 CA 001797, for monies allegedly owed and civil theft relating to such monies and related products and fraud in the inducement. We do not believe we owe such vendor any amount. The court has entered a default judgement against the Company for our failure to timely answer the complaint, which default has since been overturned. Subsequently the case has been set for interrogatories and document production which activities are being fulfilled.

On or about August 11, 2022, a Complaint was filed by Evexia Plus, LLC against Can B Corp. in a product payment trade dispute. Case Number 63-CV-2022-900692.00 in the Circuit Court of Tuscaloosa County, AL. On 1-26-2023 the court ordered a Summary Judgement in the amount of $336,924. The parties are trying to work out a payment schedule tied to production to satisfy the judgement.

In March 2023, the holder of a note in the principal amount of $250,000 instituted a collection action against the Company in the Circuit Court of the 11^th Judicial District in and for Miami-Dade County, Florida. seeking payment of the principal amount and accrued interest.

Other than above, we are not aware of any pending or threatened legal proceedings in which we are involved.

During the three months ended June 30, 2023, the Company issued There have been no material changes to the risk factors discussed in Item 1A. Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2022, which was filed with the SEC on April 17, 2023.

In May 2023, the Company issued 100,000 shares of common stock for services rendered. The Company relied upon the exemption provided by Section 4(2) of the Securities Act of 1933, as amended (the “Securities Act”), in connection with this issuance.

In May 2023, the Company issued 50,000 shares of common stock to a creditor in consideration for the creditor’s agreement to forbear from exercising remedies against the Company. The Company relied upon the exemption provided by Section 4(2) of the Securities Act of 1933, as amended (the “Securities Act”), in connection with this issuance.

In May 2023, the Company issued 125,000 shares of common stock in payment of the purchase price for certain equipment. The Company relied upon the exemption provided by Section 4(2) of the Securities Act in connection with this issuance.

In June 2023, the Company issued 65,638 shares of common stock upon the conversion of a convertible note. The Company relied upon the exemption provided by Section 3(a)(9) of the Securities Act in connection with this issuance.

In June 2023, a shareholder agreed to the cancellation of 40,000 shares of common stock in connection with a resolution of a dispute with respect to a conversion of a note.

The Company formed Nascent Pharma, LLC in July 2023 to acquire and exploit certain patents. The Company has a 67% interest in Nascent Pharma, LLC.

In July 2023, the Company purchased 1,800,000 pounds of biomass that is ready for immediate processing. The Company issued 450,000 shares of its common stock (subject to potential adjustment) in payment of the purchase price for the biomass.

In July 2023, Ronald Silver resigned as a member of the Company’s Board of Directors. Senator Silver’s resignation was not the result of any dispute with the Company.

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Tile of each class		Trading Symbol(s)		Name of each exchange on which registered
None		CANB		N/A

Large accelerated filer	☐	Accelerated filer	☐
i Non-accelerated filer	☒	Smaller reporting company	i ☒
Emerging Growth Company	i ☐
(Do not check if smaller reporting company)

		Page
		No.
	PART I. - FINANCIAL INFORMATION
Item 1.	Financial Statements
	Consolidated Balance Sheets – June 30, 2023 and December 31, 2022	3
	Consolidated Statements of Operations – Three and Six Months Ended June 30, 2023 and 2022	4
	Consolidated Statement of Stockholders’ Equity Three and Six Months Ended June 30, 2023 and 2022	5
	Consolidated Statements of Cash Flows – Six Months Ended June 30, 2023 and 2022	7
	Condensed Notes to Unaudited Consolidated Financial Statements.	8
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations.	20
Item 3	Quantitative and Qualitative Disclosures About Market Risk.	21
Item 4	Controls and Procedures.	21
	PART II - OTHER INFORMATION

Item 1.	Legal Proceedings	21
Item A.	Risk Factors	22
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	22
Item 3.	Defaults Upon Senior Securities	22
Item 4.	Mine Safety Disclosures	22
Item 5.	Other Information	22
Item 6.	Exhibits	22

	(Unaudited)
	June 30,			December 31,
	2023			2022
Assets
Current assets:
Cash and cash equivalents	$	i 123,445		$	i 73,194
Accounts receivable, less allowance for doubtful accounts of $ i 1,046,152 and $ i 985,082, respectively		i 6,719,147			i 6,586,210
Inventory		i 1,553,802			i 2,024,053
Note receivable		-			-
Prepaid expenses and other current assets		i 29,138			i 21,024
Total current assets		i 8,425,532			i 8,704,481

Other assets:
Deposits		i 235,787			i 165,787
Intangible assets, net		i 101,144			i 107,144
Property and equipment, net		i 4,801,541			i 5,432,357
Right of use assets, net		i 1,004,100			i 1,136,883
Other noncurrent assets		i 13,139			i 13,139
Total other assets		i 6,155,711			i 6,855,310

Total assets	$	i 14,581,243		$	i 15,559,791

Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable	$	i 3,678,899		$	i 3,140,408
Accrued expenses		i 405,489			i 181,700
Due to related party		i 339,243			i 295,243
Notes and loans payable, net		i 8,622,515			i 7,951,196
Warrant liabilities		i 22,575			i 203,043
Operating lease liability - current		i 652,172			i 652,172
Total current liabilities		i 13,720,893			i 12,423,762

Long-term liabilities:
Notes and loans payable, net		-			-
Operating lease liability - noncurrent		i 305,463			i 438,104
Total long-term liabilities		i 305,463			i 438,104

Total liabilities	$	i 14,026,356		$	i 12,861,866

Commitments and contingencies (Note 14)		-

Stockholders’ equity:
Preferred stock, authorized i i 5,000,000 / shares:
Series A Preferred stock, i i no / par value: i i 20 / shares authorized, i i i i 5 / / / shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively		i 5,320,000			i 5,320,000
Series B Preferred stock, $ i i 0.001 / par value: i i 500,000 / shares authorized, i i i i 0 / / / issued and outstanding		-			-
Series C Preferred stock, $ i i 0.001 / par value: i i 2,000 / shares authorized, i i i i 1,100 / / / shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively		i 2,900,039			i 2,900,039
Series D Preferred stock, $ i i 0.001 / par value: i i 4,000 / shares authorized, i i i i 4,000 / / / shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively		i 4			i 4
Preferred stock, value		i 4			i 4
Common stock, i i no / par value; i i 1,500,000,000 / shares authorized, i i 5,700,792 / and i i 4,422,584 / issued and outstanding at June 30, 2023 and December 31, 2022, respectively		i 80,300,211			i 79,614,986
Common stock issuable, i i no / par value; i i 36,248 / shares at June 30, 2023 and December 31, 2022, respectively		i 119,586			i 119,586
Treasury stock		( i 572,678	)		( i 572,678	)
Additional paid-in capital		i 8,944,609			i 8,006,822
Accumulated deficit		( i 96,456,884	)		( i 92,690,834	)
Total stockholders’ equity		i 554,887			i 2,697,925

Total liabilities and stockholders’ equity	$	i 14,581,243		$	i 15,559,791

	2023			2022
	Six Months Ended
	June 30,
	2023			2022
Operating activities:
Net loss	$	( i 3,766,050	)	$	( i 5,130,783	)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation		-			i 571,819
Depreciation		i 692,691			i 715,038
Amortization of intangible assets		i 6,000			i 20,906
Amortization of original-issue-discounts		i 378,547			i 224,276
Bad debt expense		i 61,124			i 2,898
Cancellation of debt		( i 110,000	)		-
Change in fair value of warrant liability		( i 180,468	)		( i 114,088	)
Stock-based interest expense		i 42,543			i 73,078
Stock-based consulting expense		i 595,807			i 2,139,860
Changes in operating assets and liabilities:
Accounts receivable		( i 194,061	)		( i 1,307,616	)
Inventory		i 470,251			( i 608,636	)
Prepaid expenses		( i 8,114	)		( i 652	)
Operating lease right-of-use asset		i 142			( i 16,486	)
Accounts payable		i 538,492			i 1,573,418
Accrued expenses		i 223,789			( i 499,847	)
Net cash used in operating activities		( i 1,249,306	)		( i 2,356,815	)

Investing activities:
Purchase of property and equipment		( i 15,000	)		-
Deposits paid		( i 70,000	)		-
Net cash used in investing activities		( i 85,000	)		-

Financing activities:
Net proceeds received from notes and loans payable		i 2,140,000			i 1,859,450
Proceeds from sale of common stock		-			i 500,000
Repayments of notes and loans payable		( i 621,443	)		( i 277,037	)
Deferred financing costs		( i 178,000	)		( i 77,702	)
Amounts received from/repaid to related parties, net		i 44,000			i 27,161
Net cash provided by financing activities		i 1,384,557			i 2,031,872

Increase in cash and cash equivalents		i 50,251			( i 324,943	)
Cash and cash equivalents, beginning of period		i 73,194			i 449,001
Cash and cash equivalents, end of period	$	i 123,445		$	i 124,058

Supplemental Cash Flow Information:
Income taxes paid	$	-		$	-
Interest paid	$	-		$	i 62,100
Non-cash Investing and Financing Activities:
Issuance of common stock in lieu of repayment of notes payable	$	-		$	-
Issuance of common stock in asset acquisitions	$	-		$	i 1,767,498
Issuance of common stock for property and equipment	$	i 46,875		$	-
Debt discount associated with convertible note	$	i 273,529		$	i 286,357
Conversion of Series A Preferred stock to common stock	$	-		$	-
Issuance of common stock warrants in connection with convertible promissory note	$	i 937,787		$	-

Can B Corp. – ‘10-Q’ for 6/30/23

On: Monday, 8/21/23, at 5:12pm ET · For: 6/30/23 · Accession #: 1493152-23-29699 · File #: 0-55753

Previous ‘10-Q’: ‘10-Q’ on 5/22/23 for 3/31/23 · Next & Latest: ‘10-Q’ on 11/20/23 for 9/30/23 · 19 References:

Quarterly Report — Form 10-Q

Filing Table of Contents

‘10-Q’ — Quarterly Report

Document Table of Contents

This is an HTML Document rendered as filed. [ Alternative Formats ]

Dates Referenced Herein and Documents Incorporated by Reference

19 Previous Filings that this Filing References

As of	June 30, 2023			December 31, 2022
Stock price	$	i 0.22		$	i 1.30
Exercise price	$	i 6.40		$	i 6.40
Remaining term (in years)		i 4.0			i 0.46
Volatility		i 167.6	%		i 159	%
Risk-free rate		i 4.1	%		i 3.99	%
Expected dividend yield		—	%		—	%

Warrant liabilities
Estimated fair value at December 31, 2021	$	-
Issuance of warrant liabilities		i 286,357
Change in fair value		( i 114,088	)
Estimated fair value at June 30, 2022	$	i 172,269

Estimated fair value at December 31, 2022	$	i 203,043
Change in fair value		( i 180,468	)
Estimated fair value at June 30, 2023	$	i 22,575


Six months ended December 31, 2023	$	i 6,000
Fiscal year 2024		i 12,000
Fiscal year 2025		i 12,000
Fiscal year 2026		i 12,000
Fiscal year 2027		i 12,000
Thereafter		i 47,144
Intangible assets, net	$	i 101,144

	●	in consideration of an increase in the aggregate principal amount by $ i 10,000 and an increase in the interest rate to i 18% per annum, the holder of notes in the aggregate principal amount of $ i 150,000 agreed to waive his right to require the Company to repay a $ i 50,000 note upon the Company’s receipt of $ i 1,500,000 of financing and extend maturity dates from November 18, 2021 and January 22, 2023 to September 1, 2023;

	●	in consideration of the Company’s agreement to provide a product credit for future orders of $ i 50,000, the holder of a promissory note in the principal amount of $ i 150,000 agreed to extend the maturity date from August 10, 2022 to September 1, 2023;

	●	the maturity date of a promissory note in the principal amount of $ i 1,250,000 was extended from August 12, 2022 until the earlier of September 1, 2023 or the date that the Company completes an offering resulting in an uplisting of its common stock to the Nasdaq Capital Market; and

	●	in consideration of the repayment of a total of $ i 232,500 under the notes, the holders of promissory notes in the aggregate principal amount of $ i 435,000 issued in October and November 2022 that bore interest at i 18% per annum and were past due agreed to exchange the notes for new notes that mature on September 1, 2023 and bear interest at i 15% per annum;


Six months ended December 31, 2023	$	i 370,263
Fiscal year 2024		i 469,818
Total future Lease Payment	$	i 840,081

Exhibit		Description

3.1		Articles of Incorporation, as amended(1)
3.2		Bylaws(2)
4.1		Articles of Amendment designating Series A Preferred Stock rights, as amended(9)
4.2		Articles of Amendment designating Series B Preferred Stock rights(1)
4.3		Articles of Amendment designating Series C Preferred Stock rights(7)
4.4		Articles of Amendment designating Series D Preferred Stock rights(10)
10.1		Employment Agreement with Marco Alfonsi dated December 29, 2020(10)
10.2		Employment Agreement with Stanley L. Teeple dated December 29, 2020(10)
10.3		Employment Agreement with Pasquale Ferro dated December 29, 2020(10)
10.4		Employment Agreement with Phil Scala dated December 29, 2020(10)
10.5		Commission Agreement with Andrew Holtmeyer(10)
10.6		Employment Agreement with Bradley Lebsock(10)
10.7		Memorandum of Understanding with Sam International and ZetrOZ Systems LLC(3)
10.8		Can B̅ Corp. 2020 Incentive Stock Option Plan(8)
10.9		Arena Securities Purchase Agreement(10)
10.10		ASOF Original Issue Discount Senior Secured Convertible Promissory Note(10)
10.11		ASOF Warrant to Purchase Common Stock(10)
10.12		ASOP Original Issue Discount Senior Secured Convertible Promissory Note(10)
10.14		ASOP Warrant to Purchase Common Stock(10)
10.15		Arena Security Agreement(10)
10.16		Arena Intellectual Property Security Agreement(10)
10.17		Arena Registration Rights Agreement(10)
10.18		Arena Holding Escrow Agreement(10)
10.19		Arena Guaranty Agreement from Company Subsidiaries(10)
10.20		Amendment to 2020 ASOF Promissory Note(11)
10.21		Amendment to 2020 ASOP Promissory Note(11)
10.22		2021 Arena Securities Purchase Agreement(11)
10.23		2021 ASOF Original Issue Discount Senior Secured Convertible Promissory Note(11)
10.24		2021 ASOF Warrant to Purchase Common Stock(11)
10.25		2021 ASOP Original Issue Discount Senior Secured Convertible Promissory Note(11)
10.26		2021 ASOP Warrant to Purchase Common Stock(11)
10.27		2021 Arena Registration Rights Agreement(11)
10.28		2021 Addendum to Arena Security Agreement(11)
10.29		2021 Addendum to Arena Intellectual Property Security Agreement(11)
10.30		2021 Addendum to Arena Guaranty Agreement from Company Subsidiaries(11)
10.31		Asset Acquisition Agreement with Imbibe(10)
10.32		Equipment Acquisition Agreement with TWS(12)
10.33		Promissory Note to TWS(12)
10.34		Asset Purchase Agreement with MCB(12)

10.35		Commercial Lease with Makers Developments LLC(13)
10.36		Single-Tenant NNN Lease Agreement with CS2 Real Estate Holdings, LLC(13)
10.37		Commercial Lease with Red Road Business Park(13)
10.38		Asset Acquisition Agreement with various Sellers (Botanical Biotech)(10)
10.39		PrimeX Distribution Agreement(15)
10.40		American Development Partners development agreement(15)
10.41		Mast Hill Securities Purchase and Related Agreements(14)
10.42		Blue Lake Partners Securities Purchase and Related Agreements(14)
10.43		Blue Lake Partners Securities Purchase and Related Agreements(16)
10.44		Extension and Amendment to Arena Transactional Documents(16)
10.45		Amended Placement Agent Agreement(18)
10.46		Alumni Capital Securities Purchase and Related Documents(19)
10.47		Arena Exchange Agreement(20)
10.48		Agreement with Forever Bradst(21)
10.49		Promissory Note Modification Agreement with TWS Pharma LLC(22)
10.50		Walleye Securities Purchase Agreement(22)
10.51		Walleye Promissory Note(22)
10.52		Walleye Revenue Pledge and Security Agreement(22)
10.53		Walleye Common Stock Purchase Warrant(22)
10.54		Amendment to Walleye Common Stock Purchase Agreement(22)
10.56		Walleye Registration Rights Agreement(22)
10.57		Arena Forbearance Agreement(22)
10.58		Amendment No. 2 to Blue Lake Partners Promissory Note and Amendment to Securities Purchase Agreement, Consent and Waiver Agreement(22)
10.59		Amendment No. 2 to Mast Hill Fund Promissory Note, Amendment to Securities Purchase Agreement, Consent and Waiver Agreement(22)
10.60		Amendment No. 2 to Fourth Man Promissory Note, Amendment to Securities Purchase Agreement, Consent and Waiver Agreement(22)
10.61		Walleye May 2023 Promissory Note
14.1		Code of Ethics(1)
21.1		List of Subsidiaries(10)
31.1		Chief Executive Officer certification under Section 302 of the Sarbanes-Oxley Act of 2002
31.2		Chief Financial Officer certification under Section 302 of the Sarbanes-Oxley Act of 2002
32.1		Chief Executive Officer certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2		Chief Financial Officer certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS		Inline XBRL Instance Document
101.SCH		Inline XBRL Taxonomy Extension Schema
101.CAL		Inline XBRL Taxonomy Extension Calculation
101.DEF		Inline XBRL Taxonomy Extension Definition
101.LAB		Inline XBRL Taxonomy Extension Labels
101.PRE		Inline XBRL Taxonomy Extension Presentation
104		Cover Page Interactive Data File (Embedded within the Inline XBRL document and included in Exhibit)

(1)	Filed with the Annual Report on Form 10-K filed with the SEC on April 2, 2020 and incorporated herein by reference.
(2)	Filed with the Form S-1 Registration Statement filed with the SEC on December 2, 2015 and incorporated herein by reference.
(3)	Filed with the Current Report on Form 8-K filed with the SEC on January 30, 2019 and incorporated herein by reference.
(4)	Filed with the Current Report on Form 8-K filed with the SEC on December 6, 2019 and incorporated herein by reference.
(5)	Filed with the Current Report on Form 8-K filed with the SEC on February 18, 2020 and incorporated herein by reference.
(6)	Filed with the Current Report on Form 8-K filed with the SEC on January 15, 2019 and incorporated herein by reference.
(7)	Filed with the Form 1-A/A, Part II, filed with the SEC on July 17, 2020 and incorporated herein by reference.
(8)	Filed with the Form 1-A POS, Part II, filed with the SEC on September 11, 2020 and incorporated herein by reference.
(9)	Filed with the Current Report on Form 8-K filed with the SEC on November 23, 2020 and incorporated herein by reference.
(10)	Filed with the Annual Report on Form 10-K filed with the SEC on April 15, 2022 and incorporated herein by reference.
(11)	Filed with the Quarterly Report on Form 10-Q filed with the SEC on May 21, 2021 and incorporated herein by reference.
(12)	Filed with the Current Report on Form 8-K filed with the SEC on August 17, 2021 and incorporated herein by reference.
(13)	Filed with the Current Report on Form 8-K filed with the SEC on September 1, 2021 and incorporated herein by reference.
(14)	Filed with the Current Report on Form 8-K filed with the SEC on March 31, 2022 and incorporated herein by reference.
(15)	Filed with the Form 10-K filed with the SEC on April 15, 2022 and incorporated herein by reference.
(16)	Filed with the Current Report on Form 8-K filed with the SEC on April 29, 2022 and incorporated herein by reference.
(17)	Filed with Form S-1/A filed with the SEC on February 14, 2022 and incorporated herein by reference.
(18)	Filed with Form S-1/A filed with the SEC on May 25, 2022 and incorporated herein by reference.
(19)	Filed with the Current Report on Form 8-K filed with the SEC on June 15, 2022 and incorporated herein by reference.
(20)	Filed with Form S-1/A filed with the SEC on June 30, 2022 and incorporated herein by reference.
(21)	Filed with the Current Report on Form 8-K filed with the SEC on July 25, 2022 and incorporated herein by reference.
(22)	Filed with the Annual Report on Form 10-K filed with the SEC on April 17, 2023 and incorporated herein by reference.

	Can B Corp.

Date: August 21, 2023	By:	/s/ Marco Alfonsi
		Marco Alfonsi,
		Chief Executive Officer

Date: August 21, 2023	By:	/s/ Stanley L. Teeple
		Stanley L. Teeple,
		Chief Financial Officer

This ‘10-Q’ Filing	Date	Other Filings

	8/27/28
	12/31/24
	12/31/23
	10/15/23
	9/1/23
	8/30/23
	8/27/23
Filed on:	8/21/23
	8/18/23
For Period end:	6/30/23	NT 10-Q
	6/6/23
	6/1/23
	5/22/23	10-Q, 424B3, EFFECT
	5/12/23	NT 10-Q, S-1
	5/1/23
	4/27/23
	4/22/23
	4/17/23	10-K
	4/12/23
	4/1/23
	3/22/23
	3/19/23
	3/2/23
	2/27/23	8-K
	1/31/23
	1/22/23
	1/1/23
	12/31/22	10-K, NT 10-K
	12/17/22
	11/17/22
	10/31/22
	10/14/22
	8/24/22
	8/18/22
	8/12/22
	8/11/22
	8/10/22
	7/25/22	8-K
	6/30/22	10-Q, NT 10-Q, S-1/A
	6/15/22	8-K
	5/31/22
	5/25/22	S-1/A
	4/30/22
	4/29/22	8-K
	4/15/22	10-K
	4/14/22
	4/1/22	NT 10-K
	3/31/22	10-Q, 8-K, NT 10-Q
	2/14/22	S-1/A, SC 13G/A
	2/11/22	S-1/A
	1/31/22
	1/1/22
	12/31/21	10-K, NT 10-K
	11/24/21
	11/18/21
	9/1/21	253G2, 8-K
	8/17/21	8-K
	8/12/21	8-K
	5/21/21	10-Q
	4/28/21
	3/27/21
	3/10/21
	2/8/21
	11/23/20	8-K
	9/11/20	1-A POS
	7/17/20	1-A/A, CORRESP
	4/2/20	10-K
	2/18/20	8-K
	1/16/20	8-K, PRE 14C
	12/6/19	8-K
	5/29/19	8-K
	2/1/19
	1/30/19	8-K
	1/15/19	8-K
	12/28/18	8-K, D
	11/29/18
	5/15/17	NT 10-Q
	12/2/15	S-1
	10/11/05
		List all Filings

	June 30,			December 31,
	2023			2022
Furniture and fixtures	$	i 21,724		$	i 21,724
Office equipment		i 12,378			i 12,378
Manufacturing equipment		i 6,828,083			i 6,766,208
Medical equipment		i 776,396			i 776,396
Leasehold improvements		i 26,902			i 26,902
Total		i 7,665,483			i 7,603,608
Accumulated depreciation		( i 2,863,942	)		( i 2,171,251	)
Net	$	i 4,801,541		$	i 5,432,357